State

Upon the granting of an application and at the time of disbursement, the applicant, or the applicant's legal agent, shall execute a loan agreement with the department of veterans' affairs that within a specified period of not to exceed four years from the date of the receipt of the last item of the advancement, the applicant will repay to the state for the use of the veterans' aid fund the full amount of all advancements made to the applicant with interest as provided in rules adopted under section 37-14-10, but not to exceed ten percent annually.

If the department of veterans' affairs is satisfied that an applicant is a veteran or the surviving spouse of a veteran and has not remarried, and that the applicant is a citizen and resident of this state, and that the applicant meets the criteria set forth in rules adopted pursuant to section 37-14-10 regarding qualifications to obtain a loan, the department may loan to the applicant a sum from the veterans' aid fund not to exceed five thousand dollars.

A qualified person may apply to the department of veterans' affairs in such form as it provides, either while the applicant is waiting for relief or assistance from another agency, state or federal, or for further assistance for the applicant's education, or otherwise.

The purpose of the veterans' aid fund is to make loans to any veteran and to a surviving spouse of a veteran if the spouse has not remarried. A qualified applicant may be permitted to receive more than one loan providing the total amount of all loans does not exceed five thousand dollars.

The moneys in the permanent revolving fund of the veterans' aid fund are available for:

1. Making loans to any veteran and to a surviving spouse of a veteran if the spouse has not remarried;

2. Collecting loans if in the opinion of the department a person has the financial means to repay and that person deliberately refuses to repay; and

3. Paying administrative expenses related to the making and collection of loans made from the fund.

The state treasurer shall keep in the state treasury the separate trust fund known as the veterans' aid fund. Disbursements from such fund must be made as provided in this chapter.

As used in this chapter, "veteran" means an individual who served in the armed forces of the United States on federal active duty for reasons other than training and who has been discharged under other than dishonorable conditions.

The county commissioners of each county may levy annually a tax not exceeding the limitation in subsection 18 of section 57-15-06.7 to provide a fund for the payment of the salary, traveling, and office expenses of the county veterans' service officer authorized to be appointed by section 37-14-18.

1. The board is charged with the investment of the following funds:

a. State bonding fund.

b. Teachers' fund for retirement.

c. State fire and tornado fund.

d. Workforce safety and insurance fund.

e. National guard tuition trust fund.

f. Public employees retirement system.

g. Insurance regulatory trust fund.

h. State risk management fund.

i. Budget stabilization fund.

j. Health care trust fund.

k. Cultural endowment fund.

l. Petroleum tank release compensation fund.

1. When the estate is derived, in whole or in part, from money paid or being paid by the veterans' administration to the conservator or the conservator's predecessor for the benefit of the protected person, the compensation allowed from such money to the conservator shall be limited to five percent of the amount of money received from the agency during the period covered by the account, except that the court may allow a minimum compensation of not to exceed fifty dollars per year.