1-53-17. Deposits into and expenditures from small business credit initiative fund.
Any repayment of loans and interest thereon must be receipted into the small business credit initiative fund and expended by the Board of Economic Development for the following purposes:
(1)The payment of administrative costs as permitted pursuant to 2 C.F.R Part 200 Subpart E, as applicable, as in effect on January 1, 2022;
(2)The payment of taxes and liens and for the procuring of legal services and any other services necessary to protect, recover, maintain, or liquidate the assets of the small business credit initiative fund as permitted pursuant to 2 C.F.R Part 200 Subpart E, as applicable, as in effect on January 1, 2022; and
(3)Making loans for economic development as permitted by 12 U.S. C. Chapter 54 (2021).
Source: SL 2012, ch 15, §3; SL 2022, ch 6, § 3.
Structure South Dakota Codified Laws
Title 1 - State Affairs and Government
Chapter 53 - Governor's Office Of Economic Development
Section 1-53-1 - Governor's Office of Economic Development created--Commissioner as head.
Section 1-53-3 - Purpose of Governor's Office of Economic Development.
Section 1-53-4 - Functions of Governor's Office of Economic Development.
Section 1-53-6 - Confidentiality of certain information.
Section 1-53-15 - Small business credit initiative fund.
Section 1-53-16 - Acceptance or expenditure of funds reported in informational budget.
Section 1-53-17 - Deposits into and expenditures from small business credit initiative fund.
Section 1-53-18 - Property given as security for loan.
Section 1-53-20 - Criminal background investigation of new employees--Temporary employment--Fees.
Section 1-53-21 - Farm link program established.
Section 1-53-22 - Promulgation of rules governing farm link program.
Section 1-53-24 - Agreements for administration of trust assets by federal government.
Section 1-53-25 - Deposit of trust assets with state treasurer--Purposes for which used.
Section 1-53-26 - Compromise, adjustment, and collection of claims and obligations.
Section 1-53-27 - Purchase and acquisition of property securing indebtedness.
Section 1-53-28 - Operation, lease, and disposition of property purchased or acquired.
Section 1-53-29 - Investment, transfer, and sale of securities and obligations--Purposes.
Section 1-53-30 - Promulgation of rules for disposition of claims and administration of trust.
Section 1-53-31 - Powers delegated to secretary of agriculture of United States.
Section 1-53-32 - United States held free from liability.
Section 1-53-33 - Severability of provisions.
Section 1-53-34 - Value added agriculture subfund created.
Section 1-53-35 - Value added agriculture subfund administration.
Section 1-53-36 - Earnings on value added agriculture subfund.
Section 1-53-37 - Promulgation of rules--Value-added agriculture subfund.
Section 1-53-38 - South Dakota Certified Beef Program.
Section 1-53-41 - Use of mark, copyright, or label--Violation as felony.
Section 1-53-42 - Confidential information--Exception.
Section 1-53-43 - Promulgation of rules on certified beef program.
Section 1-53-44 - Enforcement by court action--Injunctive relief.
Section 1-53-45 - Revocation of license.
Section 1-53-46 - Agency cooperation to develop, administer, and market certified beef program.
Section 1-53-47 - South Dakota Certified beef fund--Deposits and expenditures.