<html> <head> <title>Rule 74:05:12:11 Decisions on applications.</title> <META NAME="Keywords" Content="Administrative Rules 74:05:12:11"> <META NAME="Description" Content="Administrative Rules 74:05:12:11 Decisions on applications."> <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><font size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>74:05:12:11.&nbsp;&nbsp;Decisions on applications.</b>&nbsp; Within 120 days after an application is presented to the board by the secretary, the board shall by resolution either disapprove the application or approve the application as requested or as modified by the board.&nbsp; Modification may include awarding a loan in lieu of a grant or a grant in lieu of a loan, or a combination of each.</font></p> <p><font size=3 face="Times New Roman">&nbsp;</font></p> <p><font size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The department shall notify each applicant in writing of the board's decision on the application.</font></p> <p><font size=3 face="Times New Roman">&nbsp;</font></p> <p><font size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>Source:</b> 31 SDR 94, effective January 5, 2005.</font></p> <p><font size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>General Authority:</b> SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=46A-1-102">46A-1-102</A>, <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=46A-1-103">46A-1-103.</A></font></p> <p><font size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>Law Implemented:</b> SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=46A-1-100">46A-1-100</A> to <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=46A-1-106">46A-1-106</A>, inclusive.</font></p> <p><font size=3 face="Times New Roman">&nbsp;</font></p> </div> </body> </html>