<html> <head> <title>Rule 12:22:02:10 Reservation of right to make loan.</title> <META NAME="Keywords" Content="Administrative Rules 12:22:02:10"> <META NAME="Description" Content="Administrative Rules 12:22:02:10 Reservation of right to make loan."> <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>12:22:02:10.&nbsp;&nbsp;Reservation of right to make loan.</b> If the VAFA approves the loan application, the application shall then be sent to the agency for approval. Except as provided in this section, no loan agreement may be made unless approved by the agency. If the agency rejects a loan application, the VAFA may approve the loan from VAFA funds that are not subject to an agreement between the VAFA and the agency if the loan otherwise complies with this chapter.</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>Source:</b> 28 SDR 44, effective October 2, 2001.</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>General Authority:</b>SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=1-16E-24">1-16E-24.</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=1-16E-8">1-16E-8.</A></p> </div> </body> </html>