ENTITLED, An Act to  regulate deferred presentment service transactions.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA:
     Section  1.  That chapter 54-4 be amended by adding thereto a NEW SECTION to read as follows:

     No licensee may renew, rollover, or flip a deferred presentment service transaction more than four times. No renewal, rollover, or flip may be allowed unless the maker of the check pays the outstanding fee at the time of the renewal.
     Section  2.  That chapter 54-4 be amended by adding thereto a NEW SECTION to read as follows:

     A licensee may not disburse more than five hundred dollars to the maker of a check in a deferred presentment service transaction. A violation of this section is a Class 1 misdemeanor.

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An Act to regulate deferred presentment service transactions.

========================= I certify that the attached Act originated in the SENATE as Bill No. 151

____________________________
Secretary of the Senate

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____________________________
President of the Senate

Attest:

____________________________
Secretary of the Senate

____________________________
Speaker of the House

Attest:

____________________________
Chief Clerk

Senate Bill No. 151
File No. ____
Chapter No. ______     =========================
Received at this Executive Office this _____ day of _____________ ,

20____ at ____________ M.

By _________________________
for the Governor

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The attached Act is hereby approved this ________ day of ______________ , A.D., 20___

____________________________
Governor

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STATE OF SOUTH DAKOTA,

ss.

Office of the Secretary of State

Filed ____________ , 20___
at _________ o'clock __ M.

____________________________
Secretary of State

By _________________________
Asst. Secretary of State