<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 46A-1-88 - Conversion of study loans to grants. </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2067110Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2067110SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2067110CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2067110Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2067110DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2067110000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2067110SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2067110SCL-000002 { 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="s2067110Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=46A-1-88"><span class="s2067110SENU">46A-1-88</span></a><span xml:space="preserve" class="s2067110SENU">. </span><span class="s2067110CL">Conversion of study loans to grants.</span></p><p dir="ltr" class="s2067110Normal-000000"><span xml:space="preserve" class="s2067110DefaultParagraphFont">The Board of Water and Natural Resources may convert in whole or in part study loans authorized pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=46A-1-61"><span class="s2067110DefaultParagraphFont">46A-1-61</span></a><span xml:space="preserve" class="s2067110DefaultParagraphFont"> to grants. The conversion of study loans to grants is limited to projects that have been determined to be nonfeasible for development or to have insufficient repayment capability. A study loan may be converted by the Board of Water and Natural Resources to a grant for use as part of the nonfederal matching requirement on federally authorized projects.</span></p><p dir="ltr" class="s2067110Normal"><span xml:space="preserve" class="s2067110000001"> </span></p><p dir="ltr" class="s2067110Normal"><span class="s2067110SCL">Source:</span><span xml:space="preserve" class="s2067110SCL-000002"> SL 1991, ch 17 (Ex. Ord. 91-4), § 17; SL 1991, ch 289, § 6.</span></p></div></body></html>