<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 51A-12-2.2 - Expiration of exception--New exception request. </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2071796Normal { 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.s2071796SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071796CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2071796Normal-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.s2071796DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071796000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071796SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071796SCL-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="s2071796Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=51A-12-2.2"><span class="s2071796SENU">51A-12-2.2</span></a><span xml:space="preserve" class="s2071796SENU">. </span><span class="s2071796CL">Expiration of exception--New exception request.</span></p><p dir="ltr" class="s2071796Normal-000000"><span xml:space="preserve" class="s2071796DefaultParagraphFont">Any exception granted by the director under § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=51A-12-2.1"><span class="s2071796DefaultParagraphFont">51A-12-2.1</span></a><span xml:space="preserve" class="s2071796DefaultParagraphFont"> expires when the agricultural operating loan matures or twelve months after the exception is granted, whichever occurs first. A new exception request shall be submitted prior to the renewal of the agricultural operating loan if the loan to be renewed would exceed the loan or credit limitation as provided in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=51A-12-2"><span class="s2071796DefaultParagraphFont">51A-12-2</span></a><span class="s2071796DefaultParagraphFont">, unless otherwise approved by the director.</span></p><p dir="ltr" class="s2071796Normal"><span xml:space="preserve" class="s2071796000001"> </span></p><p dir="ltr" class="s2071796Normal"><span class="s2071796SCL">Source:</span><span xml:space="preserve" class="s2071796SCL-000002"> SL 2012, ch 234, § 2.</span></p></div></body></html>