<html xmlns="http://www.w3.org/1999/xhtml" lang="en-US"><head><meta charset="UTF-8"><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 54-3 - INTEREST AND USURY</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s2083732Normal { text-align: center; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2083732HG4 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2083732DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2083732HG4C { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2083732Normal-000000 { text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } p.s2083732B { margin-left: 1.38in; text-indent: -1.38in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } </style><meta name="viewport" content="width=device-width, initial-scale=1"><meta name="twitter:card" content="summary"><meta property="og:title" content="SD 54-3 - INTEREST AND USURY"><meta property="og:description" content="SDLRC Codified Law 54-3 - INTEREST AND USURY"><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes?Statute=54-3"><meta property="og:image" content="https://lawmakerdocuments.blob.core.usgovcloudapi.net/photos/logoshape.webp"><meta property="og:site_name" content="South Dakota Legislature"></head><body><div><p dir="ltr" class="s2083732Normal"><span xml:space="preserve" class="s2083732HG4">CHAPTER </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3" rel="noopener"><span class="s2083732DefaultParagraphFont">54-3</span></a></p><p dir="ltr" class="s2083732Normal"><span xml:space="preserve" class="s2083732HG4C">INTEREST AND USURY </span></p><p dir="ltr" class="s2083732Normal-000000"><span xml:space="preserve" class="s2083732DefaultParagraphFont"> </span></p><p dir="ltr" class="s2083732B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3-1" rel="noopener"><span class="s2083732DefaultParagraphFont">54-3-1</span></a><span xml:space="preserve" class="s2083732DefaultParagraphFont">    Interest defined. </span></p><p dir="ltr" class="s2083732B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3-1.1" rel="noopener"><span class="s2083732DefaultParagraphFont">54-3-1.1</span></a><span xml:space="preserve" class="s2083732DefaultParagraphFont">    Rate of interest set by written agreement--No maximum or usury restriction. </span></p><p dir="ltr" class="s2083732B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3-2" rel="noopener"><span class="s2083732DefaultParagraphFont">54-3-2</span></a><span xml:space="preserve" class="s2083732DefaultParagraphFont">    Loan of money--Presumption as to interest. </span></p><p dir="ltr" class="s2083732B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3-3" rel="noopener"><span class="s2083732DefaultParagraphFont">54-3-3</span></a><span xml:space="preserve" class="s2083732DefaultParagraphFont">    Annual rate of interest where not specified. </span></p><p dir="ltr" class="s2083732B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3-4" rel="noopener"><span class="s2083732DefaultParagraphFont">54-3-4</span></a><span xml:space="preserve" class="s2083732DefaultParagraphFont">    Maximum rate of interest where no rate specified--Commencement where date not specified. </span></p><p dir="ltr" class="s2083732B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3-5" rel="noopener"><span class="s2083732DefaultParagraphFont">54-3-5</span></a><span xml:space="preserve" class="s2083732DefaultParagraphFont">    Interest on moneys after they become due--Exception for express contracts or interest rate on bill, statement, or invoice--Limitation on interest rate. </span></p><p dir="ltr" class="s2083732B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3-5.1" rel="noopener"><span class="s2083732DefaultParagraphFont">54-3-5.1</span></a><span xml:space="preserve" class="s2083732DefaultParagraphFont">    Interest on judgments, statutory liens and inverse condemnations. </span></p><p dir="ltr" class="s2083732B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3-6" rel="noopener"><span class="s2083732DefaultParagraphFont">54-3-6</span></a><span xml:space="preserve" class="s2083732DefaultParagraphFont">    Legal rate of interest stipulated by contract after breach. </span></p><p dir="ltr" class="s2083732B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3-7" rel="noopener"><span class="s2083732DefaultParagraphFont">54-3-7</span></a><span xml:space="preserve" class="s2083732DefaultParagraphFont">    </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3-7" rel="noopener"><span class="s2083732DefaultParagraphFont">54-3-7</span></a><span class="s2083732DefaultParagraphFont">. Repealed by SL 1981, ch 350, § 1.</span></p><p dir="ltr" class="s2083732B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3-7.1" rel="noopener"><span class="s2083732DefaultParagraphFont">54-3-7.1</span></a><span xml:space="preserve" class="s2083732DefaultParagraphFont">    </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3-7.1" rel="noopener"><span class="s2083732DefaultParagraphFont">54-3-7.1</span></a><span class="s2083732DefaultParagraphFont">. Repealed by SL 1982, ch 341, § 4.</span></p><p dir="ltr" class="s2083732B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3-7.2" rel="noopener"><span class="s2083732DefaultParagraphFont">54-3-7.2</span></a><span xml:space="preserve" class="s2083732DefaultParagraphFont">    </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3-7.2" rel="noopener"><span class="s2083732DefaultParagraphFont">54-3-7.2</span></a><span class="s2083732DefaultParagraphFont">. Repealed by SL 1972, ch 258.</span></p><p dir="ltr" class="s2083732B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3-7.3" rel="noopener"><span class="s2083732DefaultParagraphFont">54-3-7.3</span></a><span xml:space="preserve" class="s2083732DefaultParagraphFont">    </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3-7.3" rel="noopener"><span class="s2083732DefaultParagraphFont">54-3-7.3</span></a><span class="s2083732DefaultParagraphFont">. Omitted.</span></p><p dir="ltr" class="s2083732B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3-7.4" rel="noopener"><span class="s2083732DefaultParagraphFont">54-3-7.4</span></a><span xml:space="preserve" class="s2083732DefaultParagraphFont">    </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3-7.4" rel="noopener"><span class="s2083732DefaultParagraphFont">54-3-7.4</span></a><span class="s2083732DefaultParagraphFont">. Omitted.</span></p><p dir="ltr" class="s2083732B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3-8" rel="noopener"><span class="s2083732DefaultParagraphFont">54-3-8</span></a><span xml:space="preserve" class="s2083732DefaultParagraphFont">    Interest on loan--Advance deduction. </span></p><p dir="ltr" class="s2083732B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3-9" rel="noopener"><span class="s2083732DefaultParagraphFont">54-3-9</span></a><span xml:space="preserve" class="s2083732DefaultParagraphFont">    </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3-9" rel="noopener"><span class="s2083732DefaultParagraphFont">54-3-9</span></a><span class="s2083732DefaultParagraphFont">. Repealed by SL 1982, ch 341, § 7.</span></p><p dir="ltr" class="s2083732B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3-10" rel="noopener"><span class="s2083732DefaultParagraphFont">54-3-10</span></a><span xml:space="preserve" class="s2083732DefaultParagraphFont">    </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3-10" rel="noopener"><span class="s2083732DefaultParagraphFont">54-3-10</span></a><span class="s2083732DefaultParagraphFont">. Repealed by SL 1975, ch 298.</span></p><p dir="ltr" class="s2083732B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3-11" rel="noopener"><span class="s2083732DefaultParagraphFont">54-3-11</span></a><span xml:space="preserve" class="s2083732DefaultParagraphFont">    </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3-11" rel="noopener"><span class="s2083732DefaultParagraphFont">54-3-11</span></a><span class="s2083732DefaultParagraphFont">. Repealed by SL 1976, ch 309, § 7.</span></p><p dir="ltr" class="s2083732B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3-12" rel="noopener"><span class="s2083732DefaultParagraphFont">54-3-12</span></a><span xml:space="preserve" class="s2083732DefaultParagraphFont">    </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3-12" rel="noopener"><span class="s2083732DefaultParagraphFont">54-3-12</span></a><span class="s2083732DefaultParagraphFont">. Repealed by SL 1982, ch 341, § 8.</span></p><p dir="ltr" class="s2083732B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3-13" rel="noopener"><span class="s2083732DefaultParagraphFont">54-3-13</span></a><span xml:space="preserve" class="s2083732DefaultParagraphFont">    Regulated lenders exempt from interest rate limitations and usury statutes. </span></p><p dir="ltr" class="s2083732B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3-14" rel="noopener"><span class="s2083732DefaultParagraphFont">54-3-14</span></a><span xml:space="preserve" class="s2083732DefaultParagraphFont">    Regulated lenders defined.</span></p><p dir="ltr" class="s2083732B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3-15" rel="noopener"><span class="s2083732DefaultParagraphFont">54-3-15</span></a><span xml:space="preserve" class="s2083732DefaultParagraphFont">    Exemption from federal preemption of state usury laws. </span></p><p dir="ltr" class="s2083732B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3-16" rel="noopener"><span class="s2083732DefaultParagraphFont">54-3-16</span></a><span xml:space="preserve" class="s2083732DefaultParagraphFont">    Official state interest rates. </span></p><p dir="ltr" class="s2083732B"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3-17" rel="noopener"><span class="s2083732DefaultParagraphFont">54-3-17</span></a><span xml:space="preserve" class="s2083732DefaultParagraphFont">    Recommendations for amendment of official rates. </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 54-3 - INTEREST AND USURY</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072158Normal { 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.s2072158SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072158CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072158Normal-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.s2072158DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072158000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072158SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072158SCL-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="s2072158Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3-1"><span class="s2072158SENU">54-3-1</span></a><span xml:space="preserve" class="s2072158SENU">. </span><span class="s2072158CL">Interest defined.</span></p><p dir="ltr" class="s2072158Normal-000000"><span class="s2072158DefaultParagraphFont">Interest is the compensation allowed by law for the use, or forbearance, or detention of money or its equivalent, including without limitation, points, loan origination fees, credit service or carrying charges, charges for unanticipated late payments, and any other charges, direct or indirect, as an incident to or as a condition of the extension of credit. These charges do not include charges made by a third party.</span></p><p dir="ltr" class="s2072158Normal"><span xml:space="preserve" class="s2072158000001"> </span></p><p dir="ltr" class="s2072158Normal"><span class="s2072158SCL">Source:</span><span xml:space="preserve" class="s2072158SCL-000002"> CivC 1877, § 1095; CL 1887, § 3718; RCivC 1903, § 1414; RC 1919, § 1037; SDC 1939, § 38.0103; SL 1987, ch 360, § 3.</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 54-3 - INTEREST AND USURY</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072159Normal { 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.s2072159SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072159CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072159Normal-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.s2072159DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072159000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072159SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072159SCL-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="s2072159Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3-1.1"><span class="s2072159SENU">54-3-1.1</span></a><span xml:space="preserve" class="s2072159SENU">. </span><span class="s2072159CL">Rate of interest set by written agreement--No maximum or usury restriction.</span></p><p dir="ltr" class="s2072159Normal-000000"><span xml:space="preserve" class="s2072159DefaultParagraphFont">Unless a maximum interest rate or charge is specifically established elsewhere in the code, there is no maximum interest rate or charge, or usury rate restriction between or among persons, corporations, limited liability companies, estates, fiduciaries, associations, or any other entities if they establish the interest rate or charge by written agreement. A written agreement is a document in writing, whether in physical or electronic form, in which the parties have demonstrated their agreement to the terms and conditions of an extension of credit, including the rate of interest. A written agreement includes the contract created by § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-11-9"><span class="s2072159DefaultParagraphFont">54-11-9</span></a><span class="s2072159DefaultParagraphFont">.</span></p><p dir="ltr" class="s2072159Normal"><span xml:space="preserve" class="s2072159000001"> </span></p><p dir="ltr" class="s2072159Normal"><span class="s2072159SCL">Source:</span><span xml:space="preserve" class="s2072159SCL-000002"> SL 1982, ch 341, § 1; SL 1987, ch 360, § 4; SL 1994, ch 351, § 147; SL 2016, ch 229, § 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 54-3 - INTEREST AND USURY</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072160Normal { 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.s2072160SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072160CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072160Normal-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.s2072160DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072160000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072160SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072160SCL-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="s2072160Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3-2"><span class="s2072160SENU">54-3-2</span></a><span xml:space="preserve" class="s2072160SENU">. </span><span class="s2072160CL">Loan of money--Presumption as to interest.</span></p><p dir="ltr" class="s2072160Normal-000000"><span class="s2072160DefaultParagraphFont">Whenever a loan of money is made it is presumed to be made upon interest, unless it is otherwise expressly stipulated at the time in writing.</span></p><p dir="ltr" class="s2072160Normal"><span xml:space="preserve" class="s2072160000001"> </span></p><p dir="ltr" class="s2072160Normal"><span class="s2072160SCL">Source:</span><span xml:space="preserve" class="s2072160SCL-000002"> CivC 1877, § 1094; CL 1887, § 3717; RCivC 1903, § 1413; RC 1919, § 1036; SDC 1939, § 38.0104.</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 54-3 - INTEREST AND USURY</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072161Normal { 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.s2072161SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072161CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072161Normal-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.s2072161DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072161000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072161SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072161SCL-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="s2072161Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3-3"><span class="s2072161SENU">54-3-3</span></a><span xml:space="preserve" class="s2072161SENU">. </span><span class="s2072161CL">Annual rate of interest where not specified.</span></p><p dir="ltr" class="s2072161Normal-000000"><span class="s2072161DefaultParagraphFont">When a rate of interest is prescribed by a law or contract, without specifying the period of time by which such rate is to be calculated, it is to be deemed an annual rate.</span></p><p dir="ltr" class="s2072161Normal"><span xml:space="preserve" class="s2072161000001"> </span></p><p dir="ltr" class="s2072161Normal"><span class="s2072161SCL">Source:</span><span xml:space="preserve" class="s2072161SCL-000002"> CivC 1877, § 1096; CL 1887, § 3719; RCivC 1903, § 1415; RC 1919, § 1038; SDC 1939, § 38.0107.</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 54-3 - INTEREST AND USURY</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072162Normal { 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.s2072162SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072162CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072162Normal-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.s2072162DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072162000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072162SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072162SCL-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="s2072162Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3-4"><span class="s2072162SENU">54-3-4</span></a><span xml:space="preserve" class="s2072162SENU">. </span><span class="s2072162CL">Maximum rate of interest where no rate specified--Commencement where date not specified.</span></p><p dir="ltr" class="s2072162Normal-000000"><span xml:space="preserve" class="s2072162DefaultParagraphFont">Under an obligation to pay interest, no rate being specified, interest is payable from date of incurrence of debt, unless the parties have otherwise agreed, at a maximum rate of the Category C 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="s2072162DefaultParagraphFont">54-3-16</span></a><span class="s2072162DefaultParagraphFont">, and in the like proportion for a longer or shorter term. In the computation of interest for less than a year, three hundred sixty days are deemed to constitute a year.</span></p><p dir="ltr" class="s2072162Normal"><span xml:space="preserve" class="s2072162000001"> </span></p><p dir="ltr" class="s2072162Normal"><span class="s2072162SCL">Source:</span><span xml:space="preserve" class="s2072162SCL-000002"> CivC 1877, § 1097; CL 1887, § 3720; RCivC 1903, § 1416; RC 1919, § 1039; SL 1933, ch 123, § 1; SDC 1939, § 38.0108; SL 1980, ch 336, § 1; SL 1982, ch 341, § 2; SL 1984, ch 319, § 34.</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 54-3 - INTEREST AND USURY</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072163Normal { 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.s2072163SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072163CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072163Normal-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.s2072163DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072163000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072163SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072163SCL-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="s2072163Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3-5"><span class="s2072163SENU">54-3-5</span></a><span xml:space="preserve" class="s2072163SENU">. </span><span class="s2072163CL">Interest on moneys after they become due--Exception for express contracts or interest rate on bill, statement, or invoice--Limitation on interest rate.</span></p><p dir="ltr" class="s2072163Normal-000000"><span xml:space="preserve" class="s2072163DefaultParagraphFont">Unless there is an express contract in writing fixing a different rate or the interest rate clearly appears on the bill, statement, or invoice, interest is payable on all moneys at the Category F 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="s2072163DefaultParagraphFont">54-3-16</span></a><span xml:space="preserve" class="s2072163DefaultParagraphFont"> after they become due on any instrument of writing, and on moneys lent, or due on any settlement of accounts, from the day on which the balance is ascertained, and on moneys received to the use of another and detained from that other. Any interest rate appearing on a bill, statement, or invoice may not exceed eighteen percent.</span></p><p dir="ltr" class="s2072163Normal"><span xml:space="preserve" class="s2072163000001"> </span></p><p dir="ltr" class="s2072163Normal"><span class="s2072163SCL">Source:</span><span xml:space="preserve" class="s2072163SCL-000002"> SDC 1939, § 38.0109; SL 1972, ch 257; SL 1975, ch 297; SL 1980, ch 336, § 2; SL 1981, ch 348; SL 1984, ch 319, § 35; SL 1994, ch 366, § 2; SL 2005, ch 255, § 1.</span></p><p dir="ltr" class="s2072163Normal"><span xml:space="preserve" class="s2072163000001"> </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 54-3 - INTEREST AND USURY</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072164Normal { 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.s2072164SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072164CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072164Normal-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.s2072164DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072164000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072164SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072164SCL-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="s2072164Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3-5.1"><span class="s2072164SENU">54-3-5.1</span></a><span xml:space="preserve" class="s2072164SENU">. </span><span class="s2072164CL">Interest on judgments, statutory liens and inverse condemnations.</span></p><p dir="ltr" class="s2072164Normal-000000"><span xml:space="preserve" class="s2072164DefaultParagraphFont">Interest is payable on all judgments and statutory liens, exclusive of real estate mortgages and security agreements under Title 57A, and exclusive of support debts or judgments under § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=25-7A-14"><span class="s2072164DefaultParagraphFont">25-7A-14</span></a><span xml:space="preserve" class="s2072164DefaultParagraphFont">, 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="s2072164DefaultParagraphFont">54-3-16</span></a><span xml:space="preserve" class="s2072164DefaultParagraphFont"> from and after the date of judgment and date of filing statutory lien. On all judgments arising from inverse condemnation actions, interest is payable at the Category A rate of interest as established by § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3-16"><span class="s2072164DefaultParagraphFont">54-3-16</span></a><span class="s2072164DefaultParagraphFont">.</span></p><p dir="ltr" class="s2072164Normal"><span xml:space="preserve" class="s2072164000001"> </span></p><p dir="ltr" class="s2072164Normal"><span class="s2072164SCL">Source:</span><span xml:space="preserve" class="s2072164SCL-000002"> SL 1981, ch 349, §§ 1, 3; SL 1982, ch 341, § 3; SL 1983, ch 361; SL 1984, ch 319, § 31; SL 1986, ch 218, § 69; SL 2003, ch 242, § 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 54-3 - INTEREST AND USURY</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072165Normal { 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.s2072165SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072165CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072165Normal-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.s2072165DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072165000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072165SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072165SCL-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="s2072165Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3-6"><span class="s2072165SENU">54-3-6</span></a><span xml:space="preserve" class="s2072165SENU">. </span><span class="s2072165CL">Legal rate of interest stipulated by contract after breach.</span></p><p dir="ltr" class="s2072165Normal-000000"><span class="s2072165DefaultParagraphFont">Any legal rate of interest, stipulated by a contract, remains chargeable after a breach thereof, as before, until the contract is superseded by a verdict or other new obligation.</span></p><p dir="ltr" class="s2072165Normal"><span xml:space="preserve" class="s2072165000001"> </span></p><p dir="ltr" class="s2072165Normal"><span class="s2072165SCL">Source:</span><span xml:space="preserve" class="s2072165SCL-000002"> CivC 1877, § 1102; CL 1887, § 3725; RCivC 1903, § 1421; RC 1919, § 1045; SDC 1939, § 38.0106.</span></p></div></body></html><br /><hr><br /> <HTML> <HEAD> <HTML> <HEAD> <meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 54-3 - INTEREST AND USURY54-3-7 </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 54-3-7 "> <META NAME="Description" Content="South Dakota Codified Laws 54-3-7"> </HEAD> <BODY> <!-- File converted by Wp2Html Version 4.0 --> <!-- Email Andrew@brackenbeds.co.uk for more details --> <!-- WP Style Open: System_34 --><!-- WP Style End: System_34 --> <Div align="full"> <!-- WP Paired Style On: SENU -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: SENU --> 54-3-7. <!-- WP Paired Style Off: SENU -->&nbsp;<!-- WP Style End: SENU --> Repealed by SL 1981, ch 350, &#167;&nbsp;1.<p> </BODY> </HTML> <br /><hr><br /> <HTML> <HEAD> <HTML> <HEAD> <meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 54-3 - INTEREST AND USURY54-3-7.1 </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 54-3-7.1 "> <META NAME="Description" Content="South Dakota Codified Laws 54-3-7.1"> </HEAD> <BODY> <!-- File converted by Wp2Html Version 4.0 --> <!-- Email Andrew@brackenbeds.co.uk for more details --> <!-- WP Style Open: System_34 --><!-- WP Style End: System_34 --> <Div align="full"> <!-- WP Paired Style On: SENU -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: SENU --> 54-3-7.1. <!-- WP Paired Style Off: SENU -->&nbsp;<!-- WP Style End: SENU --> Repealed by SL 1982, ch 341, &#167;&nbsp;4.<p> </BODY> </HTML> <br /><hr><br /> <HTML> <HEAD> <HTML> <HEAD> <meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 54-3 - INTEREST AND USURY54-3-7.2 </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 54-3-7.2 "> <META NAME="Description" Content="South Dakota Codified Laws 54-3-7.2"> </HEAD> <BODY> <!-- File converted by Wp2Html Version 4.0 --> <!-- Email Andrew@brackenbeds.co.uk for more details --> <!-- WP Style Open: System_34 --><!-- WP Style End: System_34 --> <Div align="full"> <!-- WP Paired Style On: SENU -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: SENU --> 54-3-7.2. <!-- WP Paired Style Off: SENU -->&nbsp;<!-- WP Style End: SENU --> Repealed by SL 1972, ch 258.<p> </BODY> </HTML> <br /><hr><br /> <HTML> <HEAD> <HTML> <HEAD> <meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 54-3 - INTEREST AND USURY54-3-7.3 </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 54-3-7.3 "> <META NAME="Description" Content="South Dakota Codified Laws 54-3-7.3"> </HEAD> <BODY> <!-- File converted by Wp2Html Version 4.0 --> <!-- Email Andrew@brackenbeds.co.uk for more details --> <!-- WP Style Open: System_34 --><!-- WP Style End: System_34 --> <Div align="full"> <!-- WP Paired Style On: SENU -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: SENU --> 54-3-7.3. <!-- WP Paired Style Off: SENU -->&nbsp;<!-- WP Style End: SENU --> Omitted.<p> </BODY> </HTML> <br /><hr><br /> <HTML> <HEAD> <HTML> <HEAD> <meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 54-3 - INTEREST AND USURY54-3-7.4 </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 54-3-7.4 "> <META NAME="Description" Content="South Dakota Codified Laws 54-3-7.4"> </HEAD> <BODY> <!-- File converted by Wp2Html Version 4.0 --> <!-- Email Andrew@brackenbeds.co.uk for more details --> <!-- WP Style Open: System_34 --><!-- WP Style End: System_34 --> <Div align="full"> <!-- WP Paired Style On: SENU -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: SENU --> 54-3-7.4. <!-- WP Paired Style Off: SENU -->&nbsp;<!-- WP Style End: SENU --> Omitted.<p> </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 54-3 - INTEREST AND USURY</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072171Normal { 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.s2072171SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072171CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072171Normal-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.s2072171DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072171000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072171SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072171SCL-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="s2072171Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3-8"><span class="s2072171SENU">54-3-8</span></a><span xml:space="preserve" class="s2072171SENU">. </span><span class="s2072171CL">Interest on loan--Advance deduction.</span></p><p dir="ltr" class="s2072171Normal-000000"><span class="s2072171DefaultParagraphFont">The interest which would become due at the end of the term for which a loan is made, not exceeding one year's interest in all, may be deducted from the loan in advance if the parties thus agree.</span></p><p dir="ltr" class="s2072171Normal"><span xml:space="preserve" class="s2072171000001"> </span></p><p dir="ltr" class="s2072171Normal"><span class="s2072171SCL">Source:</span><span xml:space="preserve" class="s2072171SCL-000002"> CivC 1877, § 1099; CL 1887, § 3722; RCivC 1903, § 1418; RC 1919, § 1043; SDC 1939, § 38.0105.</span></p></div></body></html><br /><hr><br /> <HTML> <HEAD> <HTML> <HEAD> <meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 54-3 - INTEREST AND USURY54-3-9 </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 54-3-9 "> <META NAME="Description" Content="South Dakota Codified Laws 54-3-9"> </HEAD> <BODY> <!-- File converted by Wp2Html Version 4.0 --> <!-- Email Andrew@brackenbeds.co.uk for more details --> <!-- WP Style Open: System_34 --><!-- WP Style End: System_34 --> <Div align="full"> <!-- WP Paired Style On: SENU -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: SENU --> 54-3-9. <!-- WP Paired Style Off: SENU -->&nbsp;<!-- WP Style End: SENU --> Repealed by SL 1982, ch 341, &#167;&nbsp;7.<p> </BODY> </HTML> <br /><hr><br /> <HTML> <HEAD> <HTML> <HEAD> <meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 54-3 - INTEREST AND USURY54-3-10 </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 54-3-10 "> <META NAME="Description" Content="South Dakota Codified Laws 54-3-10"> </HEAD> <BODY> <!-- File converted by Wp2Html Version 4.0 --> <!-- Email Andrew@brackenbeds.co.uk for more details --> <!-- WP Style Open: System_34 --><!-- WP Style End: System_34 --> <Div align="full"> <!-- WP Paired Style On: SENU -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: SENU --> 54-3-10. <!-- WP Paired Style Off: SENU -->&nbsp;<!-- WP Style End: SENU --> Repealed by SL 1975, ch 298.<p> </BODY> </HTML> <br /><hr><br /> <HTML> <HEAD> <HTML> <HEAD> <meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 54-3 - INTEREST AND USURY54-3-11 </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 54-3-11 "> <META NAME="Description" Content="South Dakota Codified Laws 54-3-11"> </HEAD> <BODY> <!-- File converted by Wp2Html Version 4.0 --> <!-- Email Andrew@brackenbeds.co.uk for more details --> <!-- WP Style Open: System_34 --><!-- WP Style End: System_34 --> <Div align="full"> <!-- WP Paired Style On: SENU -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: SENU --> 54-3-11. <!-- WP Paired Style Off: SENU -->&nbsp;<!-- WP Style End: SENU --> Repealed by SL 1976, ch 309, &#167;&nbsp;7.<p> </BODY> </HTML> <br /><hr><br /> <HTML> <HEAD> <HTML> <HEAD> <meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 54-3 - INTEREST AND USURY54-3-12 </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 54-3-12 "> <META NAME="Description" Content="South Dakota Codified Laws 54-3-12"> </HEAD> <BODY> <!-- File converted by Wp2Html Version 4.0 --> <!-- Email Andrew@brackenbeds.co.uk for more details --> <!-- WP Style Open: System_34 --><!-- WP Style End: System_34 --> <Div align="full"> <!-- WP Paired Style On: SENU -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: SENU --> 54-3-12. <!-- WP Paired Style Off: SENU -->&nbsp;<!-- WP Style End: SENU --> Repealed by SL 1982, ch 341, &#167;&nbsp;8.<p> </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 54-3 - INTEREST AND USURY</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072176Normal { 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.s2072176SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072176CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072176Normal-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.s2072176DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072176000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072176SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072176SCL-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="s2072176Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3-13"><span class="s2072176SENU">54-3-13</span></a><span xml:space="preserve" class="s2072176SENU">. </span><span class="s2072176CL">Regulated lenders exempt from interest rate limitations and usury statutes.</span></p><p dir="ltr" class="s2072176Normal-000000"><span xml:space="preserve" class="s2072176DefaultParagraphFont">Regulated lenders are exempt from all limitations on the rate of interest which they may charge and are further exempt from the operation and effect of all usury statutes, except as is otherwise provided in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3-14"><span class="s2072176DefaultParagraphFont">54-3-14</span></a><span xml:space="preserve" class="s2072176DefaultParagraphFont">. Regulated lenders and their assignees are further exempt from the prohibition, operation, and effect of § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=15-17-39"><span class="s2072176DefaultParagraphFont">15-17-39</span></a><span class="s2072176DefaultParagraphFont">, and regulated lenders and their assignees may recover reasonable attorney's fees in the case of default of payment if provided for in the note, bond, mortgage, or other evidence of debt.</span></p><p dir="ltr" class="s2072176Normal"><span xml:space="preserve" class="s2072176000001"> </span></p><p dir="ltr" class="s2072176Normal"><span class="s2072176SCL">Source:</span><span xml:space="preserve" class="s2072176SCL-000002"> SL 1980, ch 335, § 2; SL 1996, ch 283.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml" lang="en-US"><head><meta charset="UTF-8"><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 54-3 - INTEREST AND USURY</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s2082901Normal { text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2082901SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2082901CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2082901Statute { text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2082901DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2082901StatuteNumber1 { margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.s2082901000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2082901NoIndent { text-indent: 0.00in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2082901DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2082901SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style><meta name="viewport" content="width=device-width, initial-scale=1"><meta name="twitter:card" content="summary"><meta property="og:title" content="SD 54-3-14 - Regulated lenders defined."><meta property="og:description" content="SDLRC Codified Law 54-3-14 - Regulated lenders defined."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes?Statute=54-3-14"><meta property="og:image" content="https://lawmakerdocuments.blob.core.usgovcloudapi.net/photos/logoshape.webp"><meta property="og:site_name" content="South Dakota Legislature"></head><body><div><p dir="ltr" class="s2082901Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3-14" rel="noopener"><span class="s2082901SENU">54-3-14</span></a><span xml:space="preserve" class="s2082901SENU">. </span><span xml:space="preserve" class="s2082901CL">Regulated lenders defined. </span></p><p dir="ltr" class="s2082901Statute"><span xml:space="preserve" class="s2082901DefaultParagraphFont">The term, regulated lenders, as used in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3-13" rel="noopener"><span class="s2082901DefaultParagraphFont">54-3-13</span></a><span xml:space="preserve" class="s2082901DefaultParagraphFont"> means:</span></p><p dir="ltr" class="s2082901StatuteNumber1"><span xml:space="preserve" class="s2082901DefaultParagraphFont">(1)    A bank organized pursuant to chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=51A-1" rel="noopener"><span class="s2082901DefaultParagraphFont">51A-1</span></a><span class="s2082901DefaultParagraphFont">, et seq.;</span></p><p dir="ltr" class="s2082901StatuteNumber1"><span class="s2082901DefaultParagraphFont">(2)    A bank organized pursuant to 12 U.S.C. § 21;</span></p><p dir="ltr" class="s2082901StatuteNumber1"><span xml:space="preserve" class="s2082901DefaultParagraphFont">(3)    A trust company organized pursuant to chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=51A-6A" rel="noopener"><span class="s2082901DefaultParagraphFont">51A-6A</span></a><span class="s2082901DefaultParagraphFont">;</span></p><p dir="ltr" class="s2082901StatuteNumber1"><span xml:space="preserve" class="s2082901DefaultParagraphFont">(4)    A savings and loan association organized pursuant to chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=52-1" rel="noopener"><span class="s2082901DefaultParagraphFont">52-1</span></a><span class="s2082901DefaultParagraphFont">, et seq.;</span></p><p dir="ltr" class="s2082901StatuteNumber1"><span class="s2082901DefaultParagraphFont">(5)    A savings and loan association organized pursuant to 12 U.S.C. § 1464;</span></p><p dir="ltr" class="s2082901StatuteNumber1"><span class="s2082901DefaultParagraphFont">(6)    Any wholly owned subsidiary of a state or federal bank or savings and loan association which subsidiary is subject to examination by the comptroller of the currency, or the federal reserve system, or the South Dakota Division of Banking, or the federal home loan bank board and which subsidiary has been approved by the United States secretary of housing and urban development for participation in any mortgage insurance program under the National Housing Act;</span></p><p dir="ltr" class="s2082901StatuteNumber1"><span class="s2082901DefaultParagraphFont">(7)    A federal land bank organized pursuant to 12 U.S.C. § 2011;</span></p><p dir="ltr" class="s2082901StatuteNumber1"><span class="s2082901DefaultParagraphFont">(8)    A federal land bank association organized pursuant to 12 U.S.C. § 2031;</span></p><p dir="ltr" class="s2082901StatuteNumber1"><span class="s2082901DefaultParagraphFont">(9)    A production credit association organized pursuant to 12 U.S.C. § 2091;</span></p><p dir="ltr" class="s2082901StatuteNumber1"><span class="s2082901DefaultParagraphFont">(10)    A federal intermediate credit bank organized pursuant to 12 U.S.C. § 2071;</span></p><p dir="ltr" class="s2082901StatuteNumber1"><span class="s2082901DefaultParagraphFont">(11)    An agricultural credit corporation or livestock loan company or its affiliate, the principal business of which corporation is the extension of short and intermediate term credit to farmers and ranchers;</span></p><p dir="ltr" class="s2082901StatuteNumber1"><span class="s2082901DefaultParagraphFont">(12)    A federal credit union organized pursuant to 12 U.S.C. § 1753;</span></p><p dir="ltr" class="s2082901StatuteNumber1"><span class="s2082901DefaultParagraphFont">(13)    A federal financing bank organized pursuant to 12 U.S.C. § 2283;</span></p><p dir="ltr" class="s2082901StatuteNumber1"><span class="s2082901DefaultParagraphFont">(14)    A federal home loan bank organized pursuant to 12 U.S.C. § 1423, et seq.;</span></p><p dir="ltr" class="s2082901StatuteNumber1"><span class="s2082901DefaultParagraphFont">(15)    A national consumer cooperative bank organized pursuant to 12 U.S.C. § 3011;</span></p><p dir="ltr" class="s2082901StatuteNumber1"><span class="s2082901DefaultParagraphFont">(16)    A bank for cooperatives organized pursuant to 12 U.S.C. § 2121;</span></p><p dir="ltr" class="s2082901StatuteNumber1"><span class="s2082901DefaultParagraphFont">(17)    Bank holding companies organized pursuant to 12 U.S.C. § 1841, et seq.;</span></p><p dir="ltr" class="s2082901StatuteNumber1"><span class="s2082901DefaultParagraphFont">(18)    National Homeownership Foundation organized pursuant to 12 U.S.C. § 1701y;</span></p><p dir="ltr" class="s2082901StatuteNumber1"><span class="s2082901DefaultParagraphFont">(19)    Farmers Home Administration as provided by 7 U.S.C. § 1981;</span></p><p dir="ltr" class="s2082901StatuteNumber1"><span class="s2082901DefaultParagraphFont">(20)    Small Business Administration as provided by 15 U.S.C. § 633;</span></p><p dir="ltr" class="s2082901StatuteNumber1"><span class="s2082901DefaultParagraphFont">(21)    Government National Mortgage Association and Federal National Mortgage Association as provided by 12 U.S.C. § 1717;</span></p><p dir="ltr" class="s2082901StatuteNumber1"><span xml:space="preserve" class="s2082901DefaultParagraphFont">(22)    South Dakota Housing Development Authority as provided by chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=11-11" rel="noopener"><span class="s2082901DefaultParagraphFont">11-11</span></a><span class="s2082901DefaultParagraphFont">;</span></p><p dir="ltr" class="s2082901StatuteNumber1"><span xml:space="preserve" class="s2082901DefaultParagraphFont">(23)    Insurance companies, whether domestic or foreign, authorized to do business in this state, and which as a part of their business engage in mortgage lending in this state. However, § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3-13" rel="noopener"><span class="s2082901DefaultParagraphFont">54-3-13</span></a><span xml:space="preserve" class="s2082901DefaultParagraphFont"> does not exempt insurance companies from the provisions of § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=58-15-15.8" rel="noopener"><span class="s2082901DefaultParagraphFont">58-15-15.8</span></a><span class="s2082901DefaultParagraphFont">; or</span></p><p dir="ltr" class="s2082901StatuteNumber1"><span class="s2082901DefaultParagraphFont">(24)    Any wholly owned service corporation subsidiary of a domestic or foreign insurance company, authorized to do business in this state, and which subsidiary is subject to examination by the same insurance examiners as the parent company.</span></p><p dir="ltr" class="s2082901Normal"><span xml:space="preserve" class="s2082901000000"> </span></p><p dir="ltr" class="s2082901NoIndent"><span xml:space="preserve" class="s2082901DefaultParagraphFont-000001">Source: </span><span class="s2082901SCL">SL 1980, ch 335, § 1; SL 1982, ch 342; SL 2017, ch 221 (Initiated Measure 21), § 1, eff. Nov. 16, 2016; SL 2021, ch 203, § 28.</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 54-3 - INTEREST AND USURY</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072178Normal { 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.s2072178SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072178CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072178Normal-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.s2072178DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072178000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072178SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072178SCL-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="s2072178Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3-15"><span class="s2072178SENU">54-3-15</span></a><span xml:space="preserve" class="s2072178SENU">. </span><span class="s2072178CL">Exemption from federal preemption of state usury laws.</span></p><p dir="ltr" class="s2072178Normal-000000"><span class="s2072178DefaultParagraphFont">The provisions of 12 U.S.C. 1735f-7, 12 U.S.C. 86a and 15 U.S.C. 687 in effect on December 31, 1980, which preempt state usury laws, do not apply to loans made in the state of South Dakota.</span></p><p dir="ltr" class="s2072178Normal"><span xml:space="preserve" class="s2072178000001"> </span></p><p dir="ltr" class="s2072178Normal"><span class="s2072178SCL">Source:</span><span xml:space="preserve" class="s2072178SCL-000002"> SL 1981, ch 351.</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 54-3 - INTEREST AND USURY</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072179Normal { text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2072179SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072179CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072179Normal-000000 { text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2072179DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072179Normal-000001 { margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.s2072179DefaultParagraphFont-000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072179000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072179SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072179SCL-000004 { 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="s2072179Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3-16"><span class="s2072179SENU">54-3-16</span></a><span xml:space="preserve" class="s2072179SENU">. </span><span class="s2072179CL">Official state interest rates.</span></p><p dir="ltr" class="s2072179Normal-000000"><span class="s2072179DefaultParagraphFont">The official state interest rates, as referenced throughout the South Dakota Codified Laws, are as follows:</span></p><p dir="ltr" class="s2072179Normal-000001"><span class="s2072179DefaultParagraphFont">(1)    Category A rate of interest is four and one</span><span class="s2072179DefaultParagraphFont-000002">-</span><span class="s2072179DefaultParagraphFont">half percent per year;</span></p><p dir="ltr" class="s2072179Normal-000001"><span class="s2072179DefaultParagraphFont">(2)    Category B rate of interest is ten percent per year;</span></p><p dir="ltr" class="s2072179Normal-000001"><span class="s2072179DefaultParagraphFont">(3)    Category C rate of interest is twelve percent per year;</span></p><p dir="ltr" class="s2072179Normal-000001"><span class="s2072179DefaultParagraphFont">(4)    Category D rate of interest is one percent per month or fraction thereof;</span></p><p dir="ltr" class="s2072179Normal-000001"><span class="s2072179DefaultParagraphFont">(5)    Category E rate of interest is four percent per year;</span></p><p dir="ltr" class="s2072179Normal-000001"><span class="s2072179DefaultParagraphFont">(6)    Category F rate of interest is fifteen percent per year; and</span></p><p dir="ltr" class="s2072179Normal-000001"><span class="s2072179DefaultParagraphFont">(7)    Category G rate of interest is five</span><span class="s2072179DefaultParagraphFont-000002">-</span><span class="s2072179DefaultParagraphFont">sixth percent per month or fraction thereof.</span></p><p dir="ltr" class="s2072179Normal"><span xml:space="preserve" class="s2072179000003"> </span></p><p dir="ltr" class="s2072179Normal"><span class="s2072179SCL">Source:</span><span xml:space="preserve" class="s2072179SCL-000004"> SL 1984, ch 319, § 1; SL 1987, ch 362; SL 1994, ch 366, § 1; SL 2000, ch 226, § 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 54-3 - INTEREST AND USURY</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072180Normal { 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.s2072180SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072180CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072180Normal-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.s2072180DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072180000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072180SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072180SCL-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="s2072180Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3-17"><span class="s2072180SENU">54-3-17</span></a><span xml:space="preserve" class="s2072180SENU">. </span><span class="s2072180CL">Recommendations for amendment of official rates.</span></p><p dir="ltr" class="s2072180Normal-000000"><span xml:space="preserve" class="s2072180DefaultParagraphFont">The Division of Banking shall annually review current interest rates, which review shall take into account the national rate of inflation and the prime lending rate as well as other indices division personnel deem proper, and, if necessary, shall recommend amendments to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3-16"><span class="s2072180DefaultParagraphFont">54-3-16</span></a><span xml:space="preserve" class="s2072180DefaultParagraphFont"> to the Legislature during regular session.</span></p><p dir="ltr" class="s2072180Normal"><span xml:space="preserve" class="s2072180000001"> </span></p><p dir="ltr" class="s2072180Normal"><span class="s2072180SCL">Source:</span><span xml:space="preserve" class="s2072180SCL-000002"> SL 1984, ch 319, § 2.</span></p></div></body></html>