<html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 5-26-3 - Interest on overdue payments--Rate. </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2034791Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2034791SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2034791CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2034791Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2034791DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2034791000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2034791SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2034791SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2034791Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=5-26-3"><span class="s2034791SENU">5-26-3</span></a><span xml:space="preserve" class="s2034791SENU">. </span><span class="s2034791CL">Interest on overdue payments--Rate.</span></p><p dir="ltr" class="s2034791Normal-000000"><span xml:space="preserve" class="s2034791DefaultParagraphFont">Any proper invoice not paid within forty-five days shall accrue interest beginning on the thirtieth day after receipt of property or service and receipt of the invoice covering the delivered items or services. Interest shall accrue and be charged on any payment overdue under § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=5-26-2"><span class="s2034791DefaultParagraphFont">5-26-2</span></a><span xml:space="preserve" class="s2034791DefaultParagraphFont"> at the Category B rate of interest as established in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3-16"><span class="s2034791DefaultParagraphFont">54-3-16</span></a><span xml:space="preserve" class="s2034791DefaultParagraphFont"> or at the rate specified by contract.</span></p><p dir="ltr" class="s2034791Normal"><span xml:space="preserve" class="s2034791000001"> </span></p><p dir="ltr" class="s2034791Normal"><span class="s2034791SCL">Source:</span><span xml:space="preserve" class="s2034791SCL-000002"> SL 1984, ch 41, § 3; SL 1985, ch 45, § 3; SL 2018, ch 47, § 1.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 5-26-3 - Interest on overdue payments--Rate. </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2034792Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2034792SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2034792CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2034792Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2034792DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2034792000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2034792SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2034792SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } body { text-decoration-skip-ink: none; } </style></head><body><div><p dir="ltr" class="s2034792Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=5-26-3.1"><span class="s2034792SENU">5-26-3.1</span></a><span xml:space="preserve" class="s2034792SENU">. </span><span class="s2034792CL">Payment of less than five dollars in interest prohibited.</span></p><p dir="ltr" class="s2034792Normal-000000"><span class="s2034792DefaultParagraphFont">No agency is required to pay interest due because of late payment if the interest is less than five dollars.</span></p><p dir="ltr" class="s2034792Normal"><span xml:space="preserve" class="s2034792000001"> </span></p><p dir="ltr" class="s2034792Normal"><span class="s2034792SCL">Source:</span><span xml:space="preserve" class="s2034792SCL-000002"> SL 1985, ch 45, § 5; SL 1988, ch 59, § 3.</span></p></div></body></html>