<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.s9a60efdc-0769-4206-9ac7-b2644e08e9b2P0 { 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.s9a60efdc-0769-4206-9ac7-b2644e08e9b2C0 { color: black; background: white; font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s9a60efdc-0769-4206-9ac7-b2644e08e9b2C0-000000 { color: #0000FF; background: white; font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s9a60efdc-0769-4206-9ac7-b2644e08e9b2C0-000001 { color: black; background: white; font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s9a60efdc-0769-4206-9ac7-b2644e08e9b2000002 { color: black; background: white; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s9a60efdc-0769-4206-9ac7-b2644e08e9b2C0-000003 { color: #0000FF; background: white; font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s9a60efdc-0769-4206-9ac7-b2644e08e9b2P0"><span xml:space="preserve" class="s9a60efdc-0769-4206-9ac7-b2644e08e9b2C0">    </span><a href="https://sdlegislature.gov/Rules?Rule=70:05:03:10"><span class="s9a60efdc-0769-4206-9ac7-b2644e08e9b2C0-000000">70:05:03:10</span></a><span class="s9a60efdc-0769-4206-9ac7-b2644e08e9b2C0-000001">.  Inspection of the borrower by the board and retention of records.</span><span xml:space="preserve" class="s9a60efdc-0769-4206-9ac7-b2644e08e9b2C0"> During the term of the loan, the board or </span><span class="s9a60efdc-0769-4206-9ac7-b2644e08e9b2C0">department</span><span xml:space="preserve" class="s9a60efdc-0769-4206-9ac7-b2644e08e9b2C0"> may inspect the project and require the borrower to provide any books and records necessary to ensure compliance with the terms of the loan agreement. The borrower shall retain all its accounting and tax records for </span><span class="s9a60efdc-0769-4206-9ac7-b2644e08e9b2C0">three years after all principal and interest on the loan has been paid</span><span class="s9a60efdc-0769-4206-9ac7-b2644e08e9b2C0">.</span></p><p dir="ltr" class="s9a60efdc-0769-4206-9ac7-b2644e08e9b2P0"><span xml:space="preserve" class="s9a60efdc-0769-4206-9ac7-b2644e08e9b2000002"> </span></p><p dir="ltr" class="s9a60efdc-0769-4206-9ac7-b2644e08e9b2P0"><span xml:space="preserve" class="s9a60efdc-0769-4206-9ac7-b2644e08e9b2C0">    </span><span class="s9a60efdc-0769-4206-9ac7-b2644e08e9b2C0-000001">Source:</span><span xml:space="preserve" class="s9a60efdc-0769-4206-9ac7-b2644e08e9b2C0"> 19 SDR 107, effective January 24, 1993</span><span class="s9a60efdc-0769-4206-9ac7-b2644e08e9b2C0">; 49 SDR 47, effective November 21, 2022</span><span class="s9a60efdc-0769-4206-9ac7-b2644e08e9b2C0">.</span></p><p dir="ltr" class="s9a60efdc-0769-4206-9ac7-b2644e08e9b2P0"><span xml:space="preserve" class="s9a60efdc-0769-4206-9ac7-b2644e08e9b2C0">    </span><span class="s9a60efdc-0769-4206-9ac7-b2644e08e9b2C0-000001">General Authority:</span><span xml:space="preserve" class="s9a60efdc-0769-4206-9ac7-b2644e08e9b2C0"> SDCL </span><a href="https://sdlegislature.gov/Statutes?Statute=49-16C-3"><span class="s9a60efdc-0769-4206-9ac7-b2644e08e9b2C0-000003">49-16C-3</span></a><span class="s9a60efdc-0769-4206-9ac7-b2644e08e9b2C0">.</span></p><p dir="ltr" class="s9a60efdc-0769-4206-9ac7-b2644e08e9b2P0"><span xml:space="preserve" class="s9a60efdc-0769-4206-9ac7-b2644e08e9b2C0">    </span><span class="s9a60efdc-0769-4206-9ac7-b2644e08e9b2C0-000001">Law Implemented:</span><span xml:space="preserve" class="s9a60efdc-0769-4206-9ac7-b2644e08e9b2C0"> SDCL </span><a href="https://sdlegislature.gov/Statutes?Statute=1-44-20"><span class="s9a60efdc-0769-4206-9ac7-b2644e08e9b2C0-000003">1-44-20</span></a><span xml:space="preserve" class="s9a60efdc-0769-4206-9ac7-b2644e08e9b2C0">, </span><a href="https://sdlegislature.gov/Statutes?Statute=49-16C-3"><span class="s9a60efdc-0769-4206-9ac7-b2644e08e9b2C0-000003">49-16C-3</span></a><span class="s9a60efdc-0769-4206-9ac7-b2644e08e9b2C0">.</span></p><p dir="ltr" class="s9a60efdc-0769-4206-9ac7-b2644e08e9b2P0"><span xml:space="preserve" class="s9a60efdc-0769-4206-9ac7-b2644e08e9b2000002"> </span></p></div></body></html>