<html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><title></title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s07a3352d-7269-49e8-8a8f-efd81bd184ceP0 { margin-top: 0; margin-bottom: 0; margin-left: 0; margin-right: 0; text-indent: 0.00in; text-align: justify; background: white; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; } span.s07a3352d-7269-49e8-8a8f-efd81bd184ceC0 { color: black; background: white; font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s07a3352d-7269-49e8-8a8f-efd81bd184ceC0-000000 { color: #0000FF; background: white; font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s07a3352d-7269-49e8-8a8f-efd81bd184ceC0-000001 { color: black; background: white; font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s07a3352d-7269-49e8-8a8f-efd81bd184ceC0-000002 { color: #0000FF; background: white; font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s07a3352d-7269-49e8-8a8f-efd81bd184ce000003 { color: black; background: white; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s07a3352d-7269-49e8-8a8f-efd81bd184ceP0"><span xml:space="preserve" class="s07a3352d-7269-49e8-8a8f-efd81bd184ceC0">    </span><a href="https://sdlegislature.gov/Rules?Rule=12:21:01:03"><span class="s07a3352d-7269-49e8-8a8f-efd81bd184ceC0-000000">12:21:01:03</span></a><span class="s07a3352d-7269-49e8-8a8f-efd81bd184ceC0-000001">.  Contents of application.</span><span xml:space="preserve" class="s07a3352d-7269-49e8-8a8f-efd81bd184ceC0"> An applicant for a beginning farmer loan </span><span class="s07a3352d-7269-49e8-8a8f-efd81bd184ceC0">shall</span><span xml:space="preserve" class="s07a3352d-7269-49e8-8a8f-efd81bd184ceC0"> apply for the loan on a form provided by the authority. The application must include the following: the applicant's name, address, </span><span xml:space="preserve" class="s07a3352d-7269-49e8-8a8f-efd81bd184ceC0">and </span><span class="s07a3352d-7269-49e8-8a8f-efd81bd184ceC0">credit data</span><span class="s07a3352d-7269-49e8-8a8f-efd81bd184ceC0">;</span><span xml:space="preserve" class="s07a3352d-7269-49e8-8a8f-efd81bd184ceC0"> a description of the anticipated use of loan proceeds</span><span class="s07a3352d-7269-49e8-8a8f-efd81bd184ceC0">;</span><span xml:space="preserve" class="s07a3352d-7269-49e8-8a8f-efd81bd184ceC0"> the amount of the loan</span><span class="s07a3352d-7269-49e8-8a8f-efd81bd184ceC0">;</span><span xml:space="preserve" class="s07a3352d-7269-49e8-8a8f-efd81bd184ceC0"> the applicant's down payment, if any</span><span class="s07a3352d-7269-49e8-8a8f-efd81bd184ceC0">;</span><span xml:space="preserve" class="s07a3352d-7269-49e8-8a8f-efd81bd184ceC0"> and proof of compliance with </span><span xml:space="preserve" class="s07a3352d-7269-49e8-8a8f-efd81bd184ceC0">the </span><span xml:space="preserve" class="s07a3352d-7269-49e8-8a8f-efd81bd184ceC0">net worth requirements in § </span><a href="https://sdlegislature.gov/Rules?Rule=12:21:01:04"><span class="s07a3352d-7269-49e8-8a8f-efd81bd184ceC0-000002">12:21:01:04</span></a><span xml:space="preserve" class="s07a3352d-7269-49e8-8a8f-efd81bd184ceC0">. An application is complete when all </span><span class="s07a3352d-7269-49e8-8a8f-efd81bd184ceC0">information</span><span xml:space="preserve" class="s07a3352d-7269-49e8-8a8f-efd81bd184ceC0"> needed to approve a loan </span><span class="s07a3352d-7269-49e8-8a8f-efd81bd184ceC0">is</span><span xml:space="preserve" class="s07a3352d-7269-49e8-8a8f-efd81bd184ceC0"> submitted.</span></p><p dir="ltr" class="s07a3352d-7269-49e8-8a8f-efd81bd184ceP0"><span xml:space="preserve" class="s07a3352d-7269-49e8-8a8f-efd81bd184ce000003"> </span></p><p dir="ltr" class="s07a3352d-7269-49e8-8a8f-efd81bd184ceP0"><span xml:space="preserve" class="s07a3352d-7269-49e8-8a8f-efd81bd184ceC0">    </span><span class="s07a3352d-7269-49e8-8a8f-efd81bd184ceC0-000001">Source:</span><span xml:space="preserve" class="s07a3352d-7269-49e8-8a8f-efd81bd184ceC0"> 22 SDR 97, effective January 22, 1996</span><span class="s07a3352d-7269-49e8-8a8f-efd81bd184ceC0">; 52 SDR 49, effective November 17, 2025</span><span class="s07a3352d-7269-49e8-8a8f-efd81bd184ceC0">.</span></p><p dir="ltr" class="s07a3352d-7269-49e8-8a8f-efd81bd184ceP0"><span xml:space="preserve" class="s07a3352d-7269-49e8-8a8f-efd81bd184ceC0">    </span><span class="s07a3352d-7269-49e8-8a8f-efd81bd184ceC0-000001">General Authority:</span><span xml:space="preserve" class="s07a3352d-7269-49e8-8a8f-efd81bd184ceC0"> SDCL </span><a href="https://sdlegislature.gov/Statutes?Statute=1-16B-70"><span class="s07a3352d-7269-49e8-8a8f-efd81bd184ceC0-000002">1-16B-70</span></a><span class="s07a3352d-7269-49e8-8a8f-efd81bd184ceC0">.</span></p><p dir="ltr" class="s07a3352d-7269-49e8-8a8f-efd81bd184ceP0"><span xml:space="preserve" class="s07a3352d-7269-49e8-8a8f-efd81bd184ceC0">    </span><span class="s07a3352d-7269-49e8-8a8f-efd81bd184ceC0-000001">Law Implemented:</span><span xml:space="preserve" class="s07a3352d-7269-49e8-8a8f-efd81bd184ceC0"> SDCL </span><a href="https://sdlegislature.gov/Statutes?Statute=1-16B-1"><span class="s07a3352d-7269-49e8-8a8f-efd81bd184ceC0-000002">1-16B-1</span></a><span xml:space="preserve" class="s07a3352d-7269-49e8-8a8f-efd81bd184ceC0">(3), </span><a href="https://sdlegislature.gov/Statutes?Statute=1-16B-57"><span class="s07a3352d-7269-49e8-8a8f-efd81bd184ceC0-000002">1-16B-57</span></a><span class="s07a3352d-7269-49e8-8a8f-efd81bd184ceC0">.</span></p><p dir="ltr" class="s07a3352d-7269-49e8-8a8f-efd81bd184ceP0"><span xml:space="preserve" class="s07a3352d-7269-49e8-8a8f-efd81bd184ce000003"> </span></p></div></body></html>