{"data":{"id":"us-sd/sdcl-1-16b-38","jurisdiction":"us-sd","citation":"SDCL § 1-16B-38","heading":"Maximum loan to local agency--Vote required for approval.","body":"If the authority determines, after hearing and examination, that the public purposes of this chapter will be accomplished, the authority may grant a loan to an enterprise. Approval of loan applications shall be by a majority vote of all members of the board of directors, eligible to vote thereon, the vote of each eligible member being duly recorded.","path":["TITLE 1. STATE AFFAIRS AND GOVERNMENT","CHAPTER 1-16B. ECONOMIC DEVELOPMENT FINANCE AUTHORITY"],"source_url":"https://sdlegislature.gov/Statutes/1-16B-38","current_through":"2026-08-31","vintage":"","retrieved_at":"2026-09-03T15:18:56Z","sha256":"ef7c35cfb13a77e72be8aa10071a91d4c3a5c8029b9c66772d8ff1e6e4ce337a","source_id":"us-sd","stale":true,"prev":"us-sd/sdcl-1-16b-37","next":"us-sd/sdcl-1-16b-39"},"notice":"GroundRules: Original legal text. Not legal advice."}