<html> <head> <title>Rule 12:22:02:12 Review of financial status.</title> <META NAME="Keywords" Content="Administrative Rules 12:22:02:12"> <META NAME="Description" Content="Administrative Rules 12:22:02:12 Review of financial status."> <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>12:22:02:12.&nbsp;&nbsp;Review of financial status.</b> After the VAFA and the agency approve the loan but before the loan agreement is entered into, the VAFA may conduct an overall review of the applicant's financial status. This review may include an analysis of all assets and liabilities and an analysis of the ability of the applicant to honor the loan commitments. If the applicant's financial condition has materially changed since the approval of the loan, the VAFA may disapprove the loan or modify the terms of the loan.</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>