<html> <head> <title>Rule 12:07:10:06 Loan decision.</title> <META NAME="Keywords" Content="Administrative Rules 12:07:10:06"> <META NAME="Description" Content="Administrative Rules 12:07:10:06 Loan decision."> <meta name=Generator content="Microsoft Office HTML Filter 2.0"> <meta http-equiv=Content-Type content="text/html; charset=windows-1252"> <meta name=Originator content="Microsoft Word 10"> <style> <!-- --> </style> </head> <body lang=EN-US> <div> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>12:07:10:06.&nbsp;&nbsp;Loan decision.</b> Upon receipt of the application and the commission recommendation, the administrator shall take the following action:</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1)&nbsp;&nbsp;Review the application and the commission's recommendations to determine that the application meets the requirements contained in this chapter and that the application and loan are consistent with the purposes and policies established in 12:07:09:02 and SDCL chapter <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=38-6">38-6</A>;</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2)&nbsp;&nbsp;Approve the application as presented, conditionally approve the application subject to modifications or performance of certain actions, or disapprove the application; and</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3)&nbsp;&nbsp;Notify the applicant and commission of the decision in writing within 30 days after the date of receipt of the application. If the decision is to disapprove the application and loan, the administrator shall include the reasons for the decision in the notification.</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>Source:</b> 12 SDR 117, effective January 19, 1986; 12 SDR 128, 12 SDR 154, effective July 1, 1986; 17 SDR 141, effective March 25, 1991.</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>General Authority:</b> SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=38-6-8.1">38-6-8.1.</A></p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>Law Implemented:</b> SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=38-6-3">38-6-3</A>, <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=38-6-8">38-6-8.</A></p> </div> </body> </html>