51A-12-2.2. Expiration of exception--New exception request.
Any exception granted by the director under §51A-12-2.1 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 §51A-12-2, unless otherwise approved by the director.
Source: SL 2012, ch 234, §2.
Structure South Dakota Codified Laws
Section 51A-12-1 - Application to bank loans.
Section 51A-12-2 - Loan or credit limitation.
Section 51A-12-2.1 - Application for exception to agricultural loan or credit limitation.
Section 51A-12-2.2 - Expiration of exception--New exception request.
Section 51A-12-2.3 - Loan defined.
Section 51A-12-2.4 - Derivative transaction defined.
Section 51A-12-4 - Loan to customer used for partnership or corporation.
Section 51A-12-5 - Discounting not considered as money borrowed for purposes of loan limitation.
Section 51A-12-8 - Liability of officers and directors for excessive loans.
Section 51A-12-9 - Nonrisk and government guaranteed loans not included in loan limits.
Section 51A-12-10 - Sale of surplus federal reserve funds and excess bank funds not loan.
Section 51A-12-11 - Mortgage on real estate.
Section 51A-12-12 - Revolving credit authorized.
Section 51A-12-13 - Collection of certain credit service charges by bank.
Section 51A-12-14 - Right of offset on loans.
Section 51A-12-15 - Compounding interest and service fees.
Section 51A-12-16 - Security interests authorized.
Section 51A-12-17 - Maintenance of deposit as condition for loan.