<html> <head> <title>Rule 12:07:10:10 Loan maturities.</title> <META NAME="Keywords" Content="Administrative Rules 12:07:10:10"> <META NAME="Description" Content="Administrative Rules 12:07:10:10 Loan maturities."> <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>12:07:10:10.&nbsp;&nbsp;Loan maturities.</b> The loan maturity shall be based on the purpose, the type and expected useful life of the equipment, and loan amount. The term may not exceed five years. There is no prepayment penalty.</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>