<html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 1-53-37 - Promulgation of rules--Value-added agriculture subfund. </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2080473Normal { text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2080473SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2080473CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2080473Statute { text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2080473DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2080473StatuteNumber1 { margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } a.s2080473000000 { text-decoration: none; } span.s2080473000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2080473DefaultParagraphFont-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2080473SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } body { text-decoration-skip-ink: none; } </style></head><body><div><p dir="ltr" class="s2080473Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=1-53-37"><span class="s2080473SENU">1-53-37</span></a><span xml:space="preserve" class="s2080473SENU">. </span><span class="s2080473CL">Promulgation of rules--Value-added agriculture subfund.</span></p><p dir="ltr" class="s2080473Statute"><span xml:space="preserve" class="s2080473DefaultParagraphFont">In connection with the administration of the value added agriculture subfund, the Board of Economic Development may, pursuant to chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=1-26"><span class="s2080473DefaultParagraphFont">1-26</span></a><span xml:space="preserve" class="s2080473DefaultParagraphFont">, promulgate rules the board determines are necessary to implement the purposes of §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=1-53-34"><span class="s2080473DefaultParagraphFont">1-53-34</span></a><span xml:space="preserve" class="s2080473DefaultParagraphFont"> to </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=1-53-36"><span class="s2080473DefaultParagraphFont">1-53-36</span></a><span class="s2080473DefaultParagraphFont">, inclusive, including:</span></p><p dir="ltr" class="s2080473StatuteNumber1"><a id="_pagenumber14" class="s2080473000000"></a><span class="s2080473DefaultParagraphFont">(1)    Setting the application procedures for those who apply for loans or grants from the value added agriculture subfund;</span></p><p dir="ltr" class="s2080473StatuteNumber1"><span class="s2080473DefaultParagraphFont">(2)    Establishing criteria to determine which applicants will receive such loans or grants;</span></p><p dir="ltr" class="s2080473StatuteNumber1"><span class="s2080473DefaultParagraphFont">(3)    Governing the use of proceeds of such loans or grants;</span></p><p dir="ltr" class="s2080473StatuteNumber1"><span class="s2080473DefaultParagraphFont">(4)    Establishing criteria for the terms and conditions upon which such loans or grants shall be made, including the terms of security given, if any, to secure such loans; and</span></p><p dir="ltr" class="s2080473StatuteNumber1"><span xml:space="preserve" class="s2080473DefaultParagraphFont">(5)    Governing the use of proceeds by lenders of funds advanced to the lenders by the Board of Economic Development including the terms and conditions upon which the proceeds shall be loaned to borrowers for the purposes described in §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=1-53-34"><span class="s2080473DefaultParagraphFont">1-53-34</span></a><span xml:space="preserve" class="s2080473DefaultParagraphFont"> to </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=1-53-36"><span class="s2080473DefaultParagraphFont">1-53-36</span></a><span class="s2080473DefaultParagraphFont">, inclusive.</span></p><p dir="ltr" class="s2080473Normal"><span xml:space="preserve" class="s2080473000001"> </span></p><p dir="ltr" class="s2080473Normal"><span xml:space="preserve" class="s2080473DefaultParagraphFont-000002">Source: </span><span class="s2080473SCL">SL 2013, ch 192, § 9; SDCL § 38-6-16; SL 2019, ch 235 (Ex. Ord. 19-1), § 57, eff. Apr. 14, 2019; SL 2020, ch 4, § 23.</span></p></div></body></html>