<html> <head> <title>Rule 12:03:03:12 Approval procedure for loan extension or modification request.</title> <META NAME="Keywords" Content="Administrative Rules 12:03:03:12"> <META NAME="Description" Content="Administrative Rules 12:03:03:12 Approval procedure for loan extension or modification request."> <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>12:03:03:12.&nbsp;&nbsp;Approval procedure for loan extension or modification request.</b> Upon the approval of a request for an extension or modification of the terms of a loan, the commission shall mail a modification agreement form containing the revised terms and conditions of the loan to the district. The chairman of the board of supervisors or the board of managers shall sign the agreement form in the name of the district at a district meeting. The district shall submit the agreement form and a certified copy of the minutes of the district meeting to the division.</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>Source:</b> 11 SDR 59, effective October 29, 1984; 12 SDR 128, 12 SDR 154, effective July 1, 1986; 21 SDR 90, effective November 14, 1994.</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>General Authority:</b> SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=38-8-53">38-8-53</A>, <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=38-8-53.1">38-8-53.1.</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=38-8-53">38-8-53</A>, <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=38-8-53.1">38-8-53.1.</A></p> </div> </body> </html>