<HTML> <HEAD> <HTML> <HEAD> <meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 54 - DEBTOR AND CREDITOR 54 DEBTOR AND CREDITOR </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 54 DEBTOR AND CREDITOR "> <META NAME="Description" Content="South Dakota Codified Laws 54"> </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: HG2 --><Div align="center"><!-- WP Style End: HG2 --> TITLE 54 <!-- WP Paired Style Off: HG2 --><!-- WP Style End: HG2 --> </Div> <br> <!-- WP Paired Style On: HG2C --><Div align="center"><!-- WP Style End: HG2C --> DEBTOR AND CREDITOR <!-- WP Paired Style Off: HG2C --><!-- WP Style End: HG2C --> </Div> <br> <p> <!-- WP Paired Style On: H --><!-- WP Style End: H --> Chapter <!-- WP Paired Style Off: H --><!-- WP Style End: H --> <br> <p> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-1">01</A>. &nbsp;&nbsp;&nbsp;&nbsp;Definitions And General Provisions <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-2">02</A>. &nbsp;&nbsp;&nbsp;&nbsp;Payment Of Debts <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-3">03</A>. &nbsp;&nbsp;&nbsp;&nbsp;Interest And Usury <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-3A">03A</A>. &nbsp;&nbsp;&nbsp;&nbsp;Consumer Installment Sales Contracts <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-4">04</A>. &nbsp;&nbsp;&nbsp;&nbsp;Money Lending Licenses <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-5">05</A>. &nbsp;&nbsp;&nbsp;&nbsp;Installment Loans [Repealed] <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-6">06</A>. &nbsp;&nbsp;&nbsp;&nbsp;Small Installment Loans And Consumer Finance [Repealed] <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-6A">06A</A>. &nbsp;&nbsp;&nbsp;&nbsp;Lease-Purchase Agreements For Personal Property <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-7">07</A>. &nbsp;&nbsp;&nbsp;&nbsp;Motor Vehicle Retail Installment Sales [Repealed] <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-8">08</A>. &nbsp;&nbsp;&nbsp;&nbsp;Acts In Fraud Of Creditors <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-8A">08A</A>. &nbsp;&nbsp;&nbsp;&nbsp;Uniform Fraudulent Transfer Act <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-9">09</A>. &nbsp;&nbsp;&nbsp;&nbsp;Assignment For Benefit Of Creditors <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-10">10</A>. &nbsp;&nbsp;&nbsp;&nbsp;Secured Creditors' Claims In Liquidation Proceedings <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-11">11</A>. &nbsp;&nbsp;&nbsp;&nbsp;Credit Cards And Revolving Charge Accounts <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-12">12</A>. &nbsp;&nbsp;&nbsp;&nbsp;Reverse Mortgage Loans <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-13">13</A>. &nbsp;&nbsp;&nbsp;&nbsp;State Farm Mediation Board <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-14">14</A>. &nbsp;&nbsp;&nbsp;&nbsp;Mortgage Lender Business <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-15">15</A>. &nbsp;&nbsp;&nbsp;&nbsp;Security Freeze On Credit Report <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-16">16</A>. &nbsp;&nbsp;&nbsp;&nbsp;Credit Reporting Security Freeze For Protected Consumers <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <p> </BODY> </HTML> <br /><hr><br /> <HTML> <HEAD> <HTML> <HEAD> <meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 54 - DEBTOR AND CREDITOR 54-1 DEFINITIONS AND GENERAL PROVISIONS </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 54-1 DEFINITIONS AND GENERAL PROVISIONS "> <META NAME="Description" Content="South Dakota Codified Laws 54-1"> </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: HG4 --><Div align="center"><!-- WP Style End: HG4 --> CHAPTER 54-1 <!-- WP Paired Style Off: HG4 --><!-- WP Style End: HG4 --> </Div> <br> <!-- WP Paired Style On: HG4C --><Div align="center"><!-- WP Style End: HG4C --> DEFINITIONS AND GENERAL PROVISIONS <!-- WP Paired Style Off: HG4C --><!-- WP Style End: HG4C --> </Div> <br> <p> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-1-1">54-1-1</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Definition of terms--Debtor--Creditor. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-1-2">54-1-2</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Loan of money defined. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-1-3">54-1-3</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Debtor's contract valid in the absence of fraud. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-1-4">54-1-4</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Preference of creditors by debtor. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-1-5">54-1-5</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Marshaling of funds--Rights of creditor. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-1-6">54-1-6</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> &quot;Open account&quot; defined. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-1-7">54-1-7</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Open account--Interest rates. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-1-8">54-1-8</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Open account--Notice of interest rate increase. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-1-9">54-1-9</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> &quot;Securitization&quot; defined. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-1-10">54-1-10</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Securitization transaction--Transferor to lose interest in transferred property. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072142Normal { 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.s2072142SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072142CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072142Normal-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.s2072142DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072142Normal-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.s2072142000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072142SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072142SCL-000003 { 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="s2072142Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-1-1"><span class="s2072142SENU">54-1-1</span></a><span xml:space="preserve" class="s2072142SENU">. </span><span class="s2072142CL">Definition of terms--Debtor--Creditor.</span></p><p dir="ltr" class="s2072142Normal-000000"><span xml:space="preserve" class="s2072142DefaultParagraphFont">Terms used in this chapter and chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-8"><span class="s2072142DefaultParagraphFont">54-8</span></a><span xml:space="preserve" class="s2072142DefaultParagraphFont"> are defined as follows, unless the context otherwise plainly requires:</span></p><p dir="ltr" class="s2072142Normal-000001"><span class="s2072142DefaultParagraphFont">(1)    "Creditor," is one in whose favor an obligation exists by reason of which he is, or may become, entitled to the payment of money;</span></p><p dir="ltr" class="s2072142Normal-000001"><span class="s2072142DefaultParagraphFont">(2)    "Debtor," one who, by reason of an existing obligation is, or may become liable to pay money to another, whether such liability is certain or contingent.</span></p><p dir="ltr" class="s2072142Normal"><span xml:space="preserve" class="s2072142000002"> </span></p><p dir="ltr" class="s2072142Normal"><span class="s2072142SCL">Source:</span><span xml:space="preserve" class="s2072142SCL-000003"> CivC 1877, §§ 2018, 2019; CL 1887, §§ 4651, 4652; RCivC 1903, §§ 2363, 2364; RC 1919, §§ 2036, 2037; SDC 1939, § 23.0101.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072143Normal { 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.s2072143SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072143CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072143Normal-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.s2072143DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072143000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072143SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072143SCL-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="s2072143Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-1-2"><span class="s2072143SENU">54-1-2</span></a><span xml:space="preserve" class="s2072143SENU">. </span><span class="s2072143CL">Loan of money defined.</span></p><p dir="ltr" class="s2072143Normal-000000"><span class="s2072143DefaultParagraphFont">A loan of money is a contract by which one delivers a sum of money to another, and the latter agrees to return at a future time a sum equivalent to that which he borrowed.</span></p><p dir="ltr" class="s2072143Normal"><span xml:space="preserve" class="s2072143000001"> </span></p><p dir="ltr" class="s2072143Normal"><span class="s2072143SCL">Source:</span><span xml:space="preserve" class="s2072143SCL-000002"> CivC 1877, § 1092; CL 1887, § 3715; RCivC 1903, § 1411; RC 1919, § 1034; SDC 1939, § 38.0101.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072144Normal { 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.s2072144SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072144CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072144Normal-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.s2072144DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072144000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072144SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072144SCL-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="s2072144Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-1-3"><span class="s2072144SENU">54-1-3</span></a><span xml:space="preserve" class="s2072144SENU">. </span><span class="s2072144CL">Debtor's contract valid in the absence of fraud.</span></p><p dir="ltr" class="s2072144Normal-000000"><span class="s2072144DefaultParagraphFont">In the absence of fraud every contract of a debtor is valid against all his creditors, existing or subsequent, who have not acquired a lien on the property affected by such contract.</span></p><p dir="ltr" class="s2072144Normal"><span xml:space="preserve" class="s2072144000001"> </span></p><p dir="ltr" class="s2072144Normal"><span class="s2072144SCL">Source:</span><span xml:space="preserve" class="s2072144SCL-000002"> CivC 1877, § 2020; CL 1887, § 4653; RCivC 1903, § 2365; RC 1919, § 2038; SDC 1939, § 23.0102.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072145Normal { 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.s2072145SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072145CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072145Normal-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.s2072145DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072145000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072145SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072145SCL-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="s2072145Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-1-4"><span class="s2072145SENU">54-1-4</span></a><span xml:space="preserve" class="s2072145SENU">. </span><span class="s2072145CL">Preference of creditors by debtor.</span></p><p dir="ltr" class="s2072145Normal-000000"><span class="s2072145DefaultParagraphFont">A debtor may pay one creditor in preference to another, or may give to one creditor security for the payment of his demand in preference to another.</span></p><p dir="ltr" class="s2072145Normal"><span xml:space="preserve" class="s2072145000001"> </span></p><p dir="ltr" class="s2072145Normal"><span class="s2072145SCL">Source:</span><span xml:space="preserve" class="s2072145SCL-000002"> CivC 1877, § 2021; CL 1887, § 4654; RCivC 1903, § 2366; RC 1919, § 2039; SDC 1939, § 23.0103.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072146Normal { 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.s2072146SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072146CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072146Normal-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.s2072146DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072146000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072146SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072146SCL-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="s2072146Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-1-5"><span class="s2072146SENU">54-1-5</span></a><span xml:space="preserve" class="s2072146SENU">. </span><span class="s2072146CL">Marshaling of funds--Rights of creditor.</span></p><p dir="ltr" class="s2072146Normal-000000"><span class="s2072146DefaultParagraphFont">Where a creditor is entitled to resort to each of several funds for the satisfaction of his claim, and another person has an interest in or is entitled as a creditor to resort to some but not all of them, the latter may require the former to seek satisfaction from those funds to which the latter has no such claim so far as it can be done without impairing the right of the former to complete satisfaction, and without doing injustice to third persons.</span></p><p dir="ltr" class="s2072146Normal"><span xml:space="preserve" class="s2072146000001"> </span></p><p dir="ltr" class="s2072146Normal"><span class="s2072146SCL">Source:</span><span xml:space="preserve" class="s2072146SCL-000002"> CivC 1877, § 2022; CL 1887, § 4655; RCivC 1903, § 2367; RC 1919, § 2040; SDC 1939, § 23.0104.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072147Normal { 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.s2072147SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072147CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072147Normal-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.s2072147DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072147000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072147SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072147SCL-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="s2072147Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-1-6"><span class="s2072147SENU">54-1-6</span></a><span xml:space="preserve" class="s2072147SENU">. </span><span class="s2072147CL">"Open account" defined.</span></p><p dir="ltr" class="s2072147Normal-000000"><span xml:space="preserve" class="s2072147DefaultParagraphFont">The term "open account," as used in this title, means an account, usually retail in nature, under which the creditor permits the customer to make purchases or obtain loans, from time to time, directly from the creditor or indirectly by use of a check or other device as the conditions of the account may provide. The customer has the privilege of paying the balance in full or in installments and an interest charge may be computed by the creditor from time to time on the outstanding unpaid balance and added to that balance. "Open account" does not include those accounts covered in chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-11"><span class="s2072147DefaultParagraphFont">54-11</span></a><span xml:space="preserve" class="s2072147DefaultParagraphFont">, or revolving loan accounts authorized by § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=51A-12-12"><span class="s2072147DefaultParagraphFont">51A-12-12</span></a><span class="s2072147DefaultParagraphFont">.</span></p><p dir="ltr" class="s2072147Normal"><span xml:space="preserve" class="s2072147000001"> </span></p><p dir="ltr" class="s2072147Normal"><span class="s2072147SCL">Source:</span><span xml:space="preserve" class="s2072147SCL-000002"> SL 1982, ch 340, § 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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072148Normal { 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.s2072148SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072148CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072148Normal-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.s2072148DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072148000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072148SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072148SCL-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="s2072148Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-1-7"><span class="s2072148SENU">54-1-7</span></a><span xml:space="preserve" class="s2072148SENU">. </span><span class="s2072148CL">Open account--Interest rates.</span></p><p dir="ltr" class="s2072148Normal-000000"><span xml:space="preserve" class="s2072148DefaultParagraphFont">Interest rates on open accounts, as defined in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-1-6"><span class="s2072148DefaultParagraphFont">54-1-6</span></a><span xml:space="preserve" class="s2072148DefaultParagraphFont">, are subject to the provisions regarding interest rates in chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3"><span class="s2072148DefaultParagraphFont">54-3</span></a><span class="s2072148DefaultParagraphFont">.</span></p><p dir="ltr" class="s2072148Normal"><span xml:space="preserve" class="s2072148000001"> </span></p><p dir="ltr" class="s2072148Normal"><span class="s2072148SCL">Source:</span><span xml:space="preserve" class="s2072148SCL-000002"> SL 1982, ch 340, § 2.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072149Normal { 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.s2072149SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072149CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072149Normal-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.s2072149DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072149000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072149SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072149SCL-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="s2072149Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-1-8"><span class="s2072149SENU">54-1-8</span></a><span xml:space="preserve" class="s2072149SENU">. </span><span class="s2072149CL">Open account--Notice of interest rate increase.</span></p><p dir="ltr" class="s2072149Normal-000000"><span class="s2072149DefaultParagraphFont">Prior to increasing interest rates on open accounts, a creditor shall notify all customers having open accounts thirty days in advance of the increase. The notification shall clearly state the new interest rate, the effective date of the new interest rate and that the customer either may continue to pay the account in installments at the existing rate without further use of the account after the effective date of the new rate, or the customer may continue to use the account after the effective date of the rate increase with the unpaid outstanding balance on that date and all subsequent purchases or use of the account subject to the increased rate. Use of the account after the effective date of the interest rate increase is deemed to be an acceptance of the increased rate by the customer.</span></p><p dir="ltr" class="s2072149Normal"><span xml:space="preserve" class="s2072149000001"> </span></p><p dir="ltr" class="s2072149Normal"><span class="s2072149SCL">Source:</span><span xml:space="preserve" class="s2072149SCL-000002"> SL 1982, ch 340, § 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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072150Normal { 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.s2072150SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072150CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072150Normal-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.s2072150DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072150000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072150SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072150SCL-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="s2072150Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-1-9"><span class="s2072150SENU">54-1-9</span></a><span xml:space="preserve" class="s2072150SENU">. </span><span class="s2072150CL">"Securitization" defined.</span></p><p dir="ltr" class="s2072150Normal-000000"><span xml:space="preserve" class="s2072150DefaultParagraphFont">For purposes of §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-1-9"><span class="s2072150DefaultParagraphFont">54-1-9</span></a><span xml:space="preserve" class="s2072150DefaultParagraphFont"> and </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-1-10"><span class="s2072150DefaultParagraphFont">54-1-10</span></a><span class="s2072150DefaultParagraphFont">, a securitization is the pooling and repackaging by a special purpose entity of assets or other credit exposures that can be sold to investors. Securitization includes transactions that create stratified credit risk positions whose performance is dependent upon an underlying pool of credit exposures, including loans and commitments.</span></p><p dir="ltr" class="s2072150Normal"><span xml:space="preserve" class="s2072150000001"> </span></p><p dir="ltr" class="s2072150Normal"><span class="s2072150SCL">Source:</span><span xml:space="preserve" class="s2072150SCL-000002"> SL 2003, ch 241, § 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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072151Normal { 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.s2072151SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072151CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072151Normal-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.s2072151DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072151Normal-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.s2072151000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072151SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072151SCL-000003 { 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="s2072151Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-1-10"><span class="s2072151SENU">54-1-10</span></a><span xml:space="preserve" class="s2072151SENU">. </span><span class="s2072151CL">Securitization transaction--Transferor to lose interest in transferred property.</span></p><p dir="ltr" class="s2072151Normal-000000"><span xml:space="preserve" class="s2072151DefaultParagraphFont">Notwithstanding any other provisions of law specifically including § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=57A-9-623"><span class="s2072151DefaultParagraphFont">57A-9-623</span></a><span class="s2072151DefaultParagraphFont">, to the extent set forth in the transaction documents relating to a securitization transaction:</span></p><p dir="ltr" class="s2072151Normal-000001"><span class="s2072151DefaultParagraphFont">(1)    Any property, assets, or rights purported to be transferred, in whole or in part, in the securitization transaction shall be deemed to no longer be the property, assets, or rights of the transferor;</span></p><p dir="ltr" class="s2072151Normal-000001"><span class="s2072151DefaultParagraphFont">(2)    A transferor in the securitization transaction, its creditors or, in any insolvency proceeding with respect to the transferor or the transferor's property, a bankruptcy trustee, receiver, debtor, debtor in possession, or similar person, to the extent the issue is governed by South Dakota law, has no rights, legal or equitable, whatsoever to reacquire, reclaim, recover, repudiate, disaffirm, redeem, or recharacterize as property of the transferor, any property, assets, or rights purported to be transferred, in whole or in part, by the transferor; and</span></p><p dir="ltr" class="s2072151Normal-000001"><span class="s2072151DefaultParagraphFont">(3)    In the event of a bankruptcy, receivership, or other insolvency proceeding with respect to the transferor or the transferor's property, to the extent the issue is governed by South Dakota law, such property, assets, and rights may not be deemed to be part of the transferor's property, assets, rights, or estate.</span></p><p dir="ltr" class="s2072151Normal"><span xml:space="preserve" class="s2072151000002"> </span></p><p dir="ltr" class="s2072151Normal"><span class="s2072151SCL">Source:</span><span xml:space="preserve" class="s2072151SCL-000003"> SL 2003, ch 241, § 2.</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 - DEBTOR AND CREDITOR 54-2 PAYMENT OF DEBTS </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 54-2 PAYMENT OF DEBTS "> <META NAME="Description" Content="South Dakota Codified Laws 54-2"> </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: HG4 --><Div align="center"><!-- WP Style End: HG4 --> CHAPTER 54-2 <!-- WP Paired Style Off: HG4 --><!-- WP Style End: HG4 --> </Div> <br> <!-- WP Paired Style On: HG4C --><Div align="center"><!-- WP Style End: HG4C --> PAYMENT OF DEBTS <!-- WP Paired Style Off: HG4C --><!-- WP Style End: HG4C --> </Div> <br> <p> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-2-1">54-2-1</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Payment defined. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-2-2">54-2-2</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Repayment of loan in current funds. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-2-3">54-2-3</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Repealed. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-2-4">54-2-4</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Obligation for payment extinguished by tender and deposit in state bank. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072153Normal { 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.s2072153SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072153CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072153Normal-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.s2072153DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072153000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072153SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072153SCL-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="s2072153Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-2-1"><span class="s2072153SENU">54-2-1</span></a><span xml:space="preserve" class="s2072153SENU">. </span><span class="s2072153CL">Payment defined.</span></p><p dir="ltr" class="s2072153Normal-000000"><span class="s2072153DefaultParagraphFont">Performance of an obligation for the delivery of money only, is called payment.</span></p><p dir="ltr" class="s2072153Normal"><span xml:space="preserve" class="s2072153000001"> </span></p><p dir="ltr" class="s2072153Normal"><span class="s2072153SCL">Source:</span><span xml:space="preserve" class="s2072153SCL-000002"> CivC 1877, § 832; CL 1887, § 3456; RCivC 1903, § 1149; RC 1919, § 756; SDC 1939, § 47.0206.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072154Normal { 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.s2072154SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072154CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072154Normal-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.s2072154DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072154000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072154SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072154SCL-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="s2072154Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-2-2"><span class="s2072154SENU">54-2-2</span></a><span xml:space="preserve" class="s2072154SENU">. </span><span class="s2072154CL">Repayment of loan in current funds.</span></p><p dir="ltr" class="s2072154Normal-000000"><span class="s2072154DefaultParagraphFont">A borrower of money must pay the amount due in such money as is current at the time when the loan becomes due, whether such money is worth more or less than the actual money lent.</span></p><p dir="ltr" class="s2072154Normal"><span xml:space="preserve" class="s2072154000001"> </span></p><p dir="ltr" class="s2072154Normal"><span class="s2072154SCL">Source:</span><span xml:space="preserve" class="s2072154SCL-000002"> CivC 1877, § 1093; CL 1887, § 3716; RCivC 1903, § 1412; RC 1919, § 1035; SDC 1939, § 38.0102.</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 - DEBTOR AND CREDITOR 54-2-3 </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 54-2-3 "> <META NAME="Description" Content="South Dakota Codified Laws 54-2-3"> </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 --> 54-2-3. <!-- WP Paired Style Off: SENU -->&nbsp;<!-- WP Style End: SENU --> Repealed by SL 1988, ch 383.<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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072156Normal { 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.s2072156SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072156CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072156Normal-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.s2072156DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072156000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072156SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072156SCL-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="s2072156Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-2-4"><span class="s2072156SENU">54-2-4</span></a><span xml:space="preserve" class="s2072156SENU">. </span><span class="s2072156CL">Obligation for payment extinguished by tender and deposit in state bank.</span></p><p dir="ltr" class="s2072156Normal-000000"><span class="s2072156DefaultParagraphFont">An obligation for the payment of money is extinguished by a due offer of payment, if the amount is immediately deposited in the name of the creditor with some bank of deposit within this state, of good repute, and notice thereof is given to the creditor.</span></p><p dir="ltr" class="s2072156Normal"><span xml:space="preserve" class="s2072156000001"> </span></p><p dir="ltr" class="s2072156Normal"><span class="s2072156SCL">Source:</span><span xml:space="preserve" class="s2072156SCL-000002"> CivC 1877, § 849; CL 1887, § 3473; RCivC 1903, § 1166; RC 1919, § 773; SDC 1939, § 47.0209.</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 - DEBTOR AND CREDITOR </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 - DEBTOR AND CREDITOR </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 - DEBTOR AND CREDITOR </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 - DEBTOR AND CREDITOR </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 - DEBTOR AND CREDITOR </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 - DEBTOR AND CREDITOR </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 - DEBTOR AND CREDITOR </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 - DEBTOR AND CREDITOR </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 - DEBTOR AND CREDITOR </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 - DEBTOR AND CREDITOR 54-3-7 </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 - DEBTOR AND CREDITOR 54-3-7.1 </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 - DEBTOR AND CREDITOR 54-3-7.2 </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 - DEBTOR AND CREDITOR 54-3-7.3 </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 - DEBTOR AND CREDITOR 54-3-7.4 </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 - DEBTOR AND CREDITOR </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 - DEBTOR AND CREDITOR 54-3-9 </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 - DEBTOR AND CREDITOR 54-3-10 </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 - DEBTOR AND CREDITOR 54-3-11 </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 - DEBTOR AND CREDITOR 54-3-12 </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 - DEBTOR AND CREDITOR </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 - DEBTOR AND CREDITOR </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 - DEBTOR AND CREDITOR </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 - DEBTOR AND CREDITOR </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 - DEBTOR AND CREDITOR </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; } </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><br /><hr><br /> <HTML> <HEAD> <HTML> <HEAD> <meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 54 - DEBTOR AND CREDITOR 54-3A CONSUMER INSTALLMENT SALES CONTRACTS </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 54-3A CONSUMER INSTALLMENT SALES CONTRACTS "> <META NAME="Description" Content="South Dakota Codified Laws 54-3A"> </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: HG4 --><Div align="center"><!-- WP Style End: HG4 --> CHAPTER 54-3A <!-- WP Paired Style Off: HG4 --><!-- WP Style End: HG4 --> </Div> <br> <!-- WP Paired Style On: HG4C --><Div align="center"><!-- WP Style End: HG4C --> CONSUMER INSTALLMENT SALES CONTRACTS <!-- WP Paired Style Off: HG4C --><!-- WP Style End: HG4C --> </Div> <br> <p> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-3A-1">54-3A-1</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Definition of terms. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-3A-2">54-3A-2</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Items included in amount financed. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-3A-3">54-3A-3</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Finance charges on installment sales contract. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-3A-4">54-3A-4</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Repealed. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-3A-5">54-3A-5</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Additional charges allowed--Disclosure and explanation to consumer--Separate agreement. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-3A-6">54-3A-6</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Commencement of term of obligation--Down payments. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-3A-7">54-3A-7</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Modification of agreement to increase outstanding obligation prohibited--Exception. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-3A-8">54-3A-8</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Rule for computing refund of charges on prepayment. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-3A-8.1">54-3A-8.1</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Restriction on use of rule. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-3A-9">54-3A-9</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Rebate of portion of finance charge on prepayment or refinancing--Exceptions. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-3A-10">54-3A-10</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Rebate on acceleration of maturity. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-3A-11">54-3A-11</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Delinquent installments--Notice of penalty to consumer. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-3A-12">54-3A-12</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Imposition and collection of delinquency charge. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-3A-12.1">54-3A-12.1</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Imposition and collection of returned check charge--Maximum. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-3A-13">54-3A-13</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Repealed. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-3A-14">54-3A-14</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Unilateral deferral by creditor prohibited. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-3A-15">54-3A-15</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Deferral agreement requirements. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-3A-16">54-3A-16</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Deferral charge not collected on refinancing. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-3A-17">54-3A-17</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Refinancing agreement--Rebate excluded. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-3A-18">54-3A-18</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Refinancing agreement requirements. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-3A-19">54-3A-19</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Creditor's remedies on delinquency. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-3A-20">54-3A-20</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Debt forfeited for excessive charges--Costs and attorney fees. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-3A-21">54-3A-21</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Limitation on action for excessive charges. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-3A-22">54-3A-22</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Demand required before action for excessive charges. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-3A-23">54-3A-23</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Proof of unintentional error. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-3A-24">54-3A-24</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Promulgation of rules. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-3A-25">54-3A-25</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Severability of provisions. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072182Normal { 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.s2072182SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072182CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072182Normal-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.s2072182DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072182Normal-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; } p.s2072182Normal-000002 { margin-left: 1.14in; text-indent: -0.44in; 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.s2072182000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072182SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072182SCL-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="s2072182Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3A-1"><span class="s2072182SENU">54-3A-1</span></a><span xml:space="preserve" class="s2072182SENU">. </span><span class="s2072182CL">Definition of terms.</span></p><p dir="ltr" class="s2072182Normal-000000"><span class="s2072182DefaultParagraphFont">Terms used in this chapter mean:</span></p><p dir="ltr" class="s2072182Normal-000001"><span class="s2072182DefaultParagraphFont">(1)    "Cash sale price," the price for which the person making a sale pursuant to an installment sales contract would have sold the goods or services if the sale had been for cash. The cash sale price may include any taxes or license, title, and registration fees actually paid and the cash price of any accessories or services related to the sale, such as charges for delivery, installation, alterations, modifications, improvements, and any other similar charges agreed upon between the parties. The cash price of a motor vehicle may also include a documentary fee or document administration fee for services actually rendered to, for, or on behalf of, the retail buyer, in preparing, handling, and processing documents relating to the motor vehicle and the closing of the retail sale;</span></p><p dir="ltr" class="s2072182Normal-000001"><span class="s2072182DefaultParagraphFont">(2)    "Consumer," a natural person who seeks or acquires, or is offered property, services, or credit for personal, family, or household purposes;</span></p><p dir="ltr" class="s2072182Normal-000001"><span class="s2072182DefaultParagraphFont">(3)    "Consumer transaction," a transaction involving the purchase or sale of goods or services for personal, family, or household use from one, who in the ordinary course of business sells goods or services. The parties to a transaction, which involves the purchase or sale of goods or services but which is not a consumer transaction, may agree to be governed by all of the provisions of this chapter with respect to the transaction, and in such event the transaction is deemed to be a consumer transaction for all purposes of this chapter;</span></p><p dir="ltr" class="s2072182Normal-000001"><span xml:space="preserve" class="s2072182DefaultParagraphFont">(4)    "Finance charge," however denominated, the amount which is paid or payable for the privilege of paying for goods or services in one or more installments. It does not include a delinquency charge as permitted in §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3A-11"><span class="s2072182DefaultParagraphFont">54-3A-11</span></a><span xml:space="preserve" class="s2072182DefaultParagraphFont"> and </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3A-12"><span class="s2072182DefaultParagraphFont">54-3A-12</span></a><span xml:space="preserve" class="s2072182DefaultParagraphFont">, additional charges as permitted in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3A-5"><span class="s2072182DefaultParagraphFont">54-3A-5</span></a><span class="s2072182DefaultParagraphFont">, or any charge imposed by a creditor upon another person for purchasing or accepting an obligation of a consumer unless the consumer is required to pay any part of that charge in cash, as an addition to the obligation, or as a deduction from the proceeds of the obligation;</span></p><p dir="ltr" class="s2072182Normal-000001"><span class="s2072182DefaultParagraphFont">(5)    "Goods," tangible personal chattels, whether or not in existence at the time the transaction is entered into, and including things which, at the time of sale or subsequently, are to be so affixed to real property as to become a part thereof, whether or not severable therefrom, but excluding money, chattel paper, documents of title, and other instruments;</span></p><p dir="ltr" class="s2072182Normal-000001"><span class="s2072182DefaultParagraphFont">(6)    "Installment sales contract," an arrangement other than a revolving charge account, entered into in this state evidencing any consumer transaction in which a consumer purchases goods or services from a creditor, under which arrangement a finance charge may be imposed and the consumer agrees to pay for the goods or services in one or more installments;</span></p><p dir="ltr" class="s2072182Normal-000001"><span class="s2072182DefaultParagraphFont">(7)    "Official fees," the fees prescribed by law for filing, recording, or otherwise perfecting a security interest or the premium payable for any insurance in lieu of perfecting any security interest if the premium does not exceed the fees otherwise prescribed by law;</span></p><p dir="ltr" class="s2072182Normal-000001"><span class="s2072182DefaultParagraphFont">(8)    "Services" includes:</span></p><p dir="ltr" class="s2072182Normal-000002"><span class="s2072182DefaultParagraphFont">(a)    Work, labor, and other personal services;</span></p><p dir="ltr" class="s2072182Normal-000002"><span class="s2072182DefaultParagraphFont">(b)    Privileges and contract rights with respect to accommodations or facilities, including hotels and restaurants, transportation, education, entertainment, recreation, physical culture, hospital accommodations, funerals, and cemetery associations;</span></p><p dir="ltr" class="s2072182Normal-000002"><span class="s2072182DefaultParagraphFont">(c)    Diagnostic work, maintenance, repair, or improvement, other than as part of the manufacture or original construction, of properties; and</span></p><p dir="ltr" class="s2072182Normal-000002"><span class="s2072182DefaultParagraphFont">(d)    Insurance;</span></p><p dir="ltr" class="s2072182Normal-000001"><span class="s2072182DefaultParagraphFont">(9)    "Transaction," all of the agreements made between two or more persons to carry out an exchange of value, including the entire process of soliciting, negotiating, making, performing, and enforcing such agreements, whether or not any agreement is enforceable by action.</span></p><p dir="ltr" class="s2072182Normal"><span xml:space="preserve" class="s2072182000003"> </span></p><p dir="ltr" class="s2072182Normal"><span class="s2072182SCL">Source:</span><span xml:space="preserve" class="s2072182SCL-000004"> SL 1974, ch 305, § 1; SL 1975, ch 299, §§ 1, 2; SL 1999, ch 237, § 1; SL 2000, ch 227, § 1; SL 2003, ch 243, §§ 1, 2.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072183Normal { 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.s2072183SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072183CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072183Normal-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.s2072183DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072183Normal-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.s2072183000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072183SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072183SCL-000003 { 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="s2072183Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3A-2"><span class="s2072183SENU">54-3A-2</span></a><span xml:space="preserve" class="s2072183SENU">. </span><span class="s2072183CL">Items included in amount financed.</span></p><p dir="ltr" class="s2072183Normal-000000"><span class="s2072183DefaultParagraphFont">As used in this chapter, unless the context otherwise requires, "amount financed" means the total of the following items from which any prepaid finance charge or required deposit has been excluded:</span></p><p dir="ltr" class="s2072183Normal-000001"><span class="s2072183DefaultParagraphFont">(1)    The cash price of the goods or services less the total amount of any down payment whether made in cash or in property traded in;</span></p><p dir="ltr" class="s2072183Normal-000001"><span class="s2072183DefaultParagraphFont">(2)    The amount actually paid or to be paid by the creditor pursuant to an agreement to discharge a security interest in, a lien on, or an unpaid obligation with respect to any property traded in; and</span></p><p dir="ltr" class="s2072183Normal-000001"><span xml:space="preserve" class="s2072183DefaultParagraphFont">(3)    Amounts actually paid or to be paid by the creditor which are for additional charges authorized by § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3A-5"><span class="s2072183DefaultParagraphFont">54-3A-5</span></a><span xml:space="preserve" class="s2072183DefaultParagraphFont"> and are agreed to by the consumer.</span></p><p dir="ltr" class="s2072183Normal"><span xml:space="preserve" class="s2072183000002"> </span></p><p dir="ltr" class="s2072183Normal"><span class="s2072183SCL">Source:</span><span xml:space="preserve" class="s2072183SCL-000003"> SL 1974, ch 305, § 1 (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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072184Normal { 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.s2072184SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072184CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072184Normal-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.s2072184DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072184000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072184SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072184SCL-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="s2072184Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3A-3"><span class="s2072184SENU">54-3A-3</span></a><span xml:space="preserve" class="s2072184SENU">. </span><span class="s2072184CL">Finance charges on installment sales contract.</span></p><p dir="ltr" class="s2072184Normal-000000"><span class="s2072184DefaultParagraphFont">Notwithstanding the provisions of any other law, a creditor may contract for and receive, pursuant to an installment sales contract, a finance charge at a rate as agreed upon by the creditor and the consumer by written agreement. The finance charge is expressed and compounded in the same manner as an interest rate.</span></p><p dir="ltr" class="s2072184Normal"><span xml:space="preserve" class="s2072184000001"> </span></p><p dir="ltr" class="s2072184Normal"><span class="s2072184SCL">Source:</span><span xml:space="preserve" class="s2072184SCL-000002"> SL 1974, ch 305, § 2; SL 1979, ch 331; SL 1980, ch 337, § 2A; SL 1982, ch 343, § 1.</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 - DEBTOR AND CREDITOR 54-3A-4 </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 54-3A-4 "> <META NAME="Description" Content="South Dakota Codified Laws 54-3A-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 --> 54-3A-4. <!-- WP Paired Style Off: SENU -->&nbsp;<!-- WP Style End: SENU --> Repealed by SL 1982, ch 343, &#167;&nbsp;3.<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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072186Normal { 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.s2072186SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072186CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072186Normal-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.s2072186DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072186Normal-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; } p.s2072186Normal-000002 { text-indent: 0.25in; 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.s2072186000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072186SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072186SCL-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="s2072186Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3A-5"><span class="s2072186SENU">54-3A-5</span></a><span xml:space="preserve" class="s2072186SENU">. </span><span class="s2072186CL">Additional charges allowed--Disclosure and explanation to consumer--Separate agreement.</span></p><p dir="ltr" class="s2072186Normal-000000"><span class="s2072186DefaultParagraphFont">In addition to the finance charge, a creditor may contract for, and receive the following additional charges in connection with an installment sales contract if such charges are itemized and disclosed to the buyer:</span></p><p dir="ltr" class="s2072186Normal-000001"><span class="s2072186DefaultParagraphFont">(1)    Official fees and taxes;</span></p><p dir="ltr" class="s2072186Normal-000001"><span class="s2072186DefaultParagraphFont">(2)    Charges for guaranteed asset protection waivers, or credit life, accident, health, loss of income, property, or liability insurance. However any insurance is optional, and the consumer shall be informed, in writing, that any insurance is optional; and</span></p><p dir="ltr" class="s2072186Normal-000001"><span xml:space="preserve" class="s2072186DefaultParagraphFont">(3)    Charges for debt cancellation contracts and debt suspension contracts, as defined in §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=51A-1-2"><span class="s2072186DefaultParagraphFont">51A-1-2</span></a><span xml:space="preserve" class="s2072186DefaultParagraphFont">, </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-4-73"><span class="s2072186DefaultParagraphFont">54-4-73</span></a><span xml:space="preserve" class="s2072186DefaultParagraphFont">, and </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-4-74"><span class="s2072186DefaultParagraphFont">54-4-74</span></a><span xml:space="preserve" class="s2072186DefaultParagraphFont">, if the debt cancellation contract or debt suspension contract is a contract of a depository institution or a licensee pursuant to chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-4"><span class="s2072186DefaultParagraphFont">54-4</span></a><span xml:space="preserve" class="s2072186DefaultParagraphFont"> authorized to provide such coverage, and the contract is sold directly by the authorized depository institution or licensee pursuant to chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-4"><span class="s2072186DefaultParagraphFont">54-4</span></a><span xml:space="preserve" class="s2072186DefaultParagraphFont">, or by a retailer acting as an agent for the authorized depository institution or licensee pursuant to chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-4"><span class="s2072186DefaultParagraphFont">54-4</span></a><span class="s2072186DefaultParagraphFont">. However, any debt cancellation contract or debt suspension contract is optional, and the consumer shall be informed, in writing, that any such contract is optional.</span></p><p dir="ltr" class="s2072186Normal-000002"><span class="s2072186DefaultParagraphFont">Any such charges shall be disclosed and explained to the consumer prior to signing any agreement to repay a consumer credit obligation. Any such charges shall be separately agreed to in writing and separately signed by the consumer.</span></p><p dir="ltr" class="s2072186Normal"><span xml:space="preserve" class="s2072186000003"> </span></p><p dir="ltr" class="s2072186Normal"><span class="s2072186SCL">Source:</span><span xml:space="preserve" class="s2072186SCL-000004"> SL 1974, ch 305, § 5; SL 2005, ch 256, § 1; SL 2006, ch 244, § 1; SL 2012, ch 235, § 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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072187Normal { 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.s2072187SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072187CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072187Normal-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.s2072187DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072187000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072187SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072187SCL-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="s2072187Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3A-6"><span class="s2072187SENU">54-3A-6</span></a><span xml:space="preserve" class="s2072187SENU">. </span><span class="s2072187CL">Commencement of term of obligation--Down payments.</span></p><p dir="ltr" class="s2072187Normal-000000"><span class="s2072187DefaultParagraphFont">The term of a consumer obligation under this chapter, commences with the date the credit is granted unless goods are delivered or services are performed ten days or more after the date credit is granted, in which case the term commences with the date of delivery or performance. Nothing in this section shall prohibit a down payment.</span></p><p dir="ltr" class="s2072187Normal"><span xml:space="preserve" class="s2072187000001"> </span></p><p dir="ltr" class="s2072187Normal"><span class="s2072187SCL">Source:</span><span xml:space="preserve" class="s2072187SCL-000002"> SL 1974, ch 305, § 7.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072188Normal { 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.s2072188SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072188CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072188Normal-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.s2072188DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072188000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072188SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072188SCL-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="s2072188Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3A-7"><span class="s2072188SENU">54-3A-7</span></a><span xml:space="preserve" class="s2072188SENU">. </span><span class="s2072188CL">Modification of agreement to increase outstanding obligation prohibited--Exception.</span></p><p dir="ltr" class="s2072188Normal-000000"><span class="s2072188DefaultParagraphFont">Except as provided in this section, no creditor shall modify the terms of any agreement with a consumer with respect to any outstanding obligation of the consumer, which results in an increase of the rate of the finance or other charges or an increase in the amount of an installment or periodic payment due, or which otherwise adversely affects the interest of the consumer. A modification agreed to by the parties which applies to obligations incurred by the consumer after the agreement for modification is permissible.</span></p><p dir="ltr" class="s2072188Normal"><span xml:space="preserve" class="s2072188000001"> </span></p><p dir="ltr" class="s2072188Normal"><span class="s2072188SCL">Source:</span><span xml:space="preserve" class="s2072188SCL-000002"> SL 1974, ch 305, § 6.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072189Normal { 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.s2072189SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072189CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072189Normal-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.s2072189DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072189000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072189SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072189SCL-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="s2072189Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3A-8"><span class="s2072189SENU">54-3A-8</span></a><span xml:space="preserve" class="s2072189SENU">. </span><span class="s2072189CL">Rule for computing refund of charges on prepayment.</span></p><p dir="ltr" class="s2072189Normal-000000"><span class="s2072189DefaultParagraphFont">As used in this chapter, unless the context otherwise requires, "Rule of 78" means a refund of charges which shall be at least as great a proportion of the total charges, as the sum of the remaining monthly balances of principal and interest combined scheduled to follow the date of prepayment bears to the sum of all the monthly balances of principal and interest combined originally scheduled by the loan agreement.</span></p><p dir="ltr" class="s2072189Normal"><span xml:space="preserve" class="s2072189000001"> </span></p><p dir="ltr" class="s2072189Normal"><span class="s2072189SCL">Source:</span><span xml:space="preserve" class="s2072189SCL-000002"> SL 1974, ch 305, § 1 (9).</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072190Normal { 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.s2072190SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072190CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072190Normal-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.s2072190DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072190000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072190SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072190SCL-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="s2072190Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3A-8.1"><span class="s2072190SENU">54-3A-8.1</span></a><span xml:space="preserve" class="s2072190SENU">. </span><span class="s2072190CL">Restriction on use of rule.</span></p><p dir="ltr" class="s2072190Normal-000000"><span xml:space="preserve" class="s2072190DefaultParagraphFont">The Rule of 78 as defined in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3A-8"><span class="s2072190DefaultParagraphFont">54-3A-8</span></a><span xml:space="preserve" class="s2072190DefaultParagraphFont"> may not be used in any consumer installment sales contract. The Rule of 78 may, however, be used to compute the unearned premium on insurance.</span></p><p dir="ltr" class="s2072190Normal"><span xml:space="preserve" class="s2072190000001"> </span></p><p dir="ltr" class="s2072190Normal"><span class="s2072190SCL">Source:</span><span xml:space="preserve" class="s2072190SCL-000002"> SL 1984, ch 320, § 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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072191Normal { 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.s2072191SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072191CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072191Normal-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.s2072191DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072191000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072191SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072191SCL-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="s2072191Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3A-9"><span class="s2072191SENU">54-3A-9</span></a><span xml:space="preserve" class="s2072191SENU">. </span><span class="s2072191CL">Rebate of portion of finance charge on prepayment or refinancing--Exceptions.</span></p><p dir="ltr" class="s2072191Normal-000000"><span class="s2072191DefaultParagraphFont">Upon prepayment in full of the unpaid balance of an installment sales contract, or upon a refinancing or a consolidation thereof, an amount equal to the total finance charge contracted for, less the finance charge earned, shall be rebated to the buyer. If the total of all rebates, refunds and credits to be paid to the buyer under this chapter is less than one dollar, no rebate need be made.</span></p><p dir="ltr" class="s2072191Normal"><span xml:space="preserve" class="s2072191000001"> </span></p><p dir="ltr" class="s2072191Normal"><span class="s2072191SCL">Source:</span><span xml:space="preserve" class="s2072191SCL-000002"> SL 1974, ch 305, § 3; SL 1984, ch 320, § 2.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072192Normal { 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.s2072192SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072192CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072192Normal-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.s2072192DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072192000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072192SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072192SCL-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="s2072192Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3A-10"><span class="s2072192SENU">54-3A-10</span></a><span xml:space="preserve" class="s2072192SENU">. </span><span class="s2072192CL">Rebate on acceleration of maturity.</span></p><p dir="ltr" class="s2072192Normal-000000"><span class="s2072192DefaultParagraphFont">If the maturity of an obligation under an installment sales contract is accelerated for any reason and judgment is obtained, the consumer is entitled to a rebate computed as if payment in full had been made on the date that the action was brought.</span></p><p dir="ltr" class="s2072192Normal"><span xml:space="preserve" class="s2072192000001"> </span></p><p dir="ltr" class="s2072192Normal"><span class="s2072192SCL">Source:</span><span xml:space="preserve" class="s2072192SCL-000002"> SL 1974, ch 305, § 4.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072193Normal { 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.s2072193SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072193CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072193Normal-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.s2072193DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072193Normal-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.s2072193000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072193SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072193SCL-000003 { 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="s2072193Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3A-11"><span class="s2072193SENU">54-3A-11</span></a><span xml:space="preserve" class="s2072193SENU">. </span><span class="s2072193CL">Delinquent installments--Notice of penalty to consumer.</span></p><p dir="ltr" class="s2072193Normal-000000"><span class="s2072193DefaultParagraphFont">If the buyer has not paid an installment on an installment sales contract on or before the tenth day after its due date, as originally scheduled or as deferred, the creditor, if he chooses to impose a penalty for the delinquency, shall before the due date of the next scheduled installment, mail or deliver to the buyer at his last known address a written notice informing the buyer:</span></p><p dir="ltr" class="s2072193Normal-000001"><span class="s2072193DefaultParagraphFont">(1)    That the installment is delinquent;</span></p><p dir="ltr" class="s2072193Normal-000001"><span xml:space="preserve" class="s2072193DefaultParagraphFont">(2)    That a penalty has been or will be imposed pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3A-12"><span class="s2072193DefaultParagraphFont">54-3A-12</span></a><span class="s2072193DefaultParagraphFont">, if that is the case, and the amount of such penalty;</span></p><p dir="ltr" class="s2072193Normal-000001"><span class="s2072193DefaultParagraphFont">(3)    If the creditor agrees, that, in lieu of paying a delinquency penalty, the buyer may defer the delinquent installment or refinance the unpaid balance; and</span></p><p dir="ltr" class="s2072193Normal-000001"><span xml:space="preserve" class="s2072193DefaultParagraphFont">(4)    That, if the installment remains delinquent without being deferred or without a refinancing, the creditor may after thirty days, pursue his remedies pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3A-19"><span class="s2072193DefaultParagraphFont">54-3A-19</span></a><span class="s2072193DefaultParagraphFont">.</span></p><p dir="ltr" class="s2072193Normal"><span xml:space="preserve" class="s2072193000002"> </span></p><p dir="ltr" class="s2072193Normal"><span class="s2072193SCL">Source:</span><span xml:space="preserve" class="s2072193SCL-000003"> SL 1974, ch 305, § 8; SL 1975, ch 299, § 3; SL 1990, ch 30, § 13.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072194Normal { 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.s2072194SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072194CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072194Normal-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.s2072194DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072194Normal-000001 { margin-top: 0; margin-bottom: 0; text-indent: 0.25in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2072194000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072194SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072194SCL-000003 { 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="s2072194Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3A-12"><span class="s2072194SENU">54-3A-12</span></a><span xml:space="preserve" class="s2072194SENU">. </span><span class="s2072194CL">Imposition and collection of delinquency charge.</span></p><p dir="ltr" class="s2072194Normal-000000"><span class="s2072194DefaultParagraphFont">The holder of a contract authorized by this chapter may, if the contract so provides, collect a delinquency and collection charge on each installment in arrears for a period of not less than ten days in an amount not in excess of five percent of each installment or five dollars, whichever is greater.</span></p><p dir="ltr" class="s2072194Normal-000001"><span class="s2072194DefaultParagraphFont">Any delinquency or collection charge may be collected only once on any one installment however long the installment remains delinquent.</span></p><p dir="ltr" class="s2072194Normal"><span xml:space="preserve" class="s2072194000002"> </span></p><p dir="ltr" class="s2072194Normal"><span class="s2072194SCL">Source:</span><span xml:space="preserve" class="s2072194SCL-000003"> SL 1974, ch 305, § 9; SL 1975, ch 299, § 4; SL 1986, ch 405, § 6; SL 1990, ch 384, § 1; SL 1999, ch 238, § 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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072195Normal { 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.s2072195SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072195CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072195Normal-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.s2072195DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072195000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072195SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072195SCL-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="s2072195Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3A-12.1"><span class="s2072195SENU">54-3A-12.1</span></a><span xml:space="preserve" class="s2072195SENU">. </span><span class="s2072195CL">Imposition and collection of returned check charge--Maximum.</span></p><p dir="ltr" class="s2072195Normal-000000"><span class="s2072195DefaultParagraphFont">The holder of a contract authorized by this chapter may, if the contract so provides, collect a charge not to exceed thirty dollars for each check, draft, order of withdrawal, or similar payment device that is received by the holder in connection with the contract and that is returned for nonpayment for any reason.</span></p><p dir="ltr" class="s2072195Normal"><span xml:space="preserve" class="s2072195000001"> </span></p><p dir="ltr" class="s2072195Normal"><span class="s2072195SCL">Source:</span><span xml:space="preserve" class="s2072195SCL-000002"> SL 2000, ch 228, § 1.</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 - DEBTOR AND CREDITOR 54-3A-13 </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 54-3A-13 "> <META NAME="Description" Content="South Dakota Codified Laws 54-3A-13"> </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 --> 54-3A-13. <!-- WP Paired Style Off: SENU -->&nbsp;<!-- WP Style End: SENU --> Repealed by SL 1982, ch 343, &#167;&nbsp;5.<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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072197Normal { 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.s2072197SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072197CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072197Normal-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.s2072197DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072197000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072197SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072197SCL-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="s2072197Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3A-14"><span class="s2072197SENU">54-3A-14</span></a><span xml:space="preserve" class="s2072197SENU">. </span><span class="s2072197CL">Unilateral deferral by creditor prohibited.</span></p><p dir="ltr" class="s2072197Normal-000000"><span class="s2072197DefaultParagraphFont">No term of a writing executed by the buyer prior to agreement to a deferral constitutes authority for a creditor unilaterally to grant a deferral and make charges therefor.</span></p><p dir="ltr" class="s2072197Normal"><span xml:space="preserve" class="s2072197000001"> </span></p><p dir="ltr" class="s2072197Normal"><span class="s2072197SCL">Source:</span><span xml:space="preserve" class="s2072197SCL-000002"> SL 1974, ch 305, § 12; SL 1990, ch 30, § 14.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072198Normal { 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.s2072198SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072198CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072198Normal-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.s2072198DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072198Normal-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.s2072198000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072198SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072198SCL-000003 { 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="s2072198Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3A-15"><span class="s2072198SENU">54-3A-15</span></a><span xml:space="preserve" class="s2072198SENU">. </span><span class="s2072198CL">Deferral agreement requirements.</span></p><p dir="ltr" class="s2072198Normal-000000"><span class="s2072198DefaultParagraphFont">A deferral agreement shall:</span></p><p dir="ltr" class="s2072198Normal-000001"><span class="s2072198DefaultParagraphFont">(1)    Be in writing and be signed by the parties;</span></p><p dir="ltr" class="s2072198Normal-000001"><span class="s2072198DefaultParagraphFont">(2)    Incorporate by reference the transaction to which the deferral agreement applies;</span></p><p dir="ltr" class="s2072198Normal-000001"><span class="s2072198DefaultParagraphFont">(3)    State the number of installments or partial installments to be deferred, the amounts thereof, the date or dates originally payable and the date or dates to which payment is being deferred; and</span></p><p dir="ltr" class="s2072198Normal-000001"><span class="s2072198DefaultParagraphFont">(4)    If there is a deferral charge, state the amount to be paid by the buyer for the privilege of deferring the installment or installments.</span></p><p dir="ltr" class="s2072198Normal"><span xml:space="preserve" class="s2072198000002"> </span></p><p dir="ltr" class="s2072198Normal"><span class="s2072198SCL">Source:</span><span xml:space="preserve" class="s2072198SCL-000003"> SL 1974, ch 305, § 11.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072199Normal { 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.s2072199SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072199CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072199Normal-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.s2072199DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072199000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072199SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072199SCL-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="s2072199Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3A-16"><span class="s2072199SENU">54-3A-16</span></a><span xml:space="preserve" class="s2072199SENU">. </span><span class="s2072199CL">Deferral charge not collected on refinancing.</span></p><p dir="ltr" class="s2072199Normal-000000"><span class="s2072199DefaultParagraphFont">A charge may not be collected for the deferral of an installment payment or any part thereof if the unpaid balance is refinanced.</span></p><p dir="ltr" class="s2072199Normal"><span xml:space="preserve" class="s2072199000001"> </span></p><p dir="ltr" class="s2072199Normal"><span class="s2072199SCL">Source:</span><span xml:space="preserve" class="s2072199SCL-000002"> SL 1974, ch 305, § 12.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072200Normal { 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.s2072200SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072200CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072200Normal-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.s2072200DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072200000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072200SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072200SCL-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="s2072200Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3A-17"><span class="s2072200SENU">54-3A-17</span></a><span xml:space="preserve" class="s2072200SENU">. </span><span class="s2072200CL">Refinancing agreement--Rebate excluded.</span></p><p dir="ltr" class="s2072200Normal-000000"><span xml:space="preserve" class="s2072200DefaultParagraphFont">A creditor may, by written agreement with the buyer, refinance the unpaid balance and may contract for and receive a finance charge based on the amount refinanced. Any rebate due to the buyer pursuant to the provisions of § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3A-9"><span class="s2072200DefaultParagraphFont">54-3A-9</span></a><span xml:space="preserve" class="s2072200DefaultParagraphFont"> if the buyer was prepaying in full on the date of the refinancing is excluded from the amount to be refinanced. No minimum finance charge, for the purpose of computing this rebate, is allowed to the creditor.</span></p><p dir="ltr" class="s2072200Normal"><span xml:space="preserve" class="s2072200000001"> </span></p><p dir="ltr" class="s2072200Normal"><span class="s2072200SCL">Source:</span><span xml:space="preserve" class="s2072200SCL-000002"> SL 1974, ch 305, § 13; SL 1975, ch 299, § 5; SL 1982, ch 343, § 4; SL 2015, ch 260, § 6.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072201Normal { 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.s2072201SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072201CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072201Normal-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.s2072201DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072201Normal-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.s2072201000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072201SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072201SCL-000003 { 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="s2072201Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3A-18"><span class="s2072201SENU">54-3A-18</span></a><span xml:space="preserve" class="s2072201SENU">. </span><span class="s2072201CL">Refinancing agreement requirements.</span></p><p dir="ltr" class="s2072201Normal-000000"><span class="s2072201DefaultParagraphFont">A refinancing agreement shall:</span></p><p dir="ltr" class="s2072201Normal-000001"><span class="s2072201DefaultParagraphFont">(1)    Be in writing and be signed by the parties;</span></p><p dir="ltr" class="s2072201Normal-000001"><span class="s2072201DefaultParagraphFont">(2)    Incorporate by reference the transaction to which the refinancing agreement applies;</span></p><p dir="ltr" class="s2072201Normal-000001"><span class="s2072201DefaultParagraphFont">(3)    State the amount that is to be refinanced, the date or dates on which the installments were originally payable and the date or dates on which they will become payable; and</span></p><p dir="ltr" class="s2072201Normal-000001"><span class="s2072201DefaultParagraphFont">(4)    State the amount of the charge to be paid by the buyer for the privilege of refinancing, which shall be the difference between the total amount of the finance charge that was to have been paid under the terms of the original contract computed on the assumption that all scheduled installments would have been paid when due and the total finance charge that is to be paid pursuant to the refinancing computed on the assumption that all scheduled installments will be paid when due.</span></p><p dir="ltr" class="s2072201Normal"><span xml:space="preserve" class="s2072201000002"> </span></p><p dir="ltr" class="s2072201Normal"><span class="s2072201SCL">Source:</span><span xml:space="preserve" class="s2072201SCL-000003"> SL 1974, ch 305, § 14.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072202Normal { 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.s2072202SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072202CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072202Normal-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.s2072202DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072202000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072202SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072202SCL-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="s2072202Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3A-19"><span class="s2072202SENU">54-3A-19</span></a><span xml:space="preserve" class="s2072202SENU">. </span><span class="s2072202CL">Creditor's remedies on delinquency.</span></p><p dir="ltr" class="s2072202Normal-000000"><span class="s2072202DefaultParagraphFont">If a delinquent installment is not deferred or the unpaid balance is not refinanced under the provisions of this chapter within thirty days after the due date of the delinquent installment, then the creditor may pursue any remedies available to him.</span></p><p dir="ltr" class="s2072202Normal"><span xml:space="preserve" class="s2072202000001"> </span></p><p dir="ltr" class="s2072202Normal"><span class="s2072202SCL">Source:</span><span xml:space="preserve" class="s2072202SCL-000002"> SL 1974, ch 305, § 15; SL 1975, ch 299, § 6.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072203Normal { 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.s2072203SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072203CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072203Normal-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.s2072203DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072203000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072203SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072203SCL-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="s2072203Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3A-20"><span class="s2072203SENU">54-3A-20</span></a><span xml:space="preserve" class="s2072203SENU">. </span><span class="s2072203CL">Debt forfeited for excessive charges--Costs and attorney fees.</span></p><p dir="ltr" class="s2072203Normal-000000"><span class="s2072203DefaultParagraphFont">If any amount in excess of the charges permitted by this chapter is contracted for or received, or if any other provision of this chapter is violated, other than as a result of an unintentional or bona fide error of computation, the consumer shall not be liable for any part of the principal, interest or any other charges whatsoever, and shall be allowed to recover costs and reasonable attorney's fees.</span></p><p dir="ltr" class="s2072203Normal"><span xml:space="preserve" class="s2072203000001"> </span></p><p dir="ltr" class="s2072203Normal"><span class="s2072203SCL">Source:</span><span xml:space="preserve" class="s2072203SCL-000002"> SL 1974, ch 305, § 16.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072204Normal { 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.s2072204SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072204CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072204Normal-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.s2072204DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072204000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072204SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072204SCL-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="s2072204Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3A-21"><span class="s2072204SENU">54-3A-21</span></a><span xml:space="preserve" class="s2072204SENU">. </span><span class="s2072204CL">Limitation on action for excessive charges.</span></p><p dir="ltr" class="s2072204Normal-000000"><span xml:space="preserve" class="s2072204DefaultParagraphFont">With respect to excess charges arising from an installment sales contract, no action pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3A-20"><span class="s2072204DefaultParagraphFont">54-3A-20</span></a><span xml:space="preserve" class="s2072204DefaultParagraphFont"> may be brought more than three years after the due date of the last scheduled payment of the contract on which the charge was made.</span></p><p dir="ltr" class="s2072204Normal"><span xml:space="preserve" class="s2072204000001"> </span></p><p dir="ltr" class="s2072204Normal"><span class="s2072204SCL">Source:</span><span xml:space="preserve" class="s2072204SCL-000002"> SL 1974, ch 305, § 17.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072205Normal { 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.s2072205SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072205CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072205Normal-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.s2072205DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072205000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072205SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072205SCL-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="s2072205Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3A-22"><span class="s2072205SENU">54-3A-22</span></a><span xml:space="preserve" class="s2072205SENU">. </span><span class="s2072205CL">Demand required before action for excessive charges.</span></p><p dir="ltr" class="s2072205Normal-000000"><span xml:space="preserve" class="s2072205DefaultParagraphFont">No action shall be commenced to recover any amount under § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3A-20"><span class="s2072205DefaultParagraphFont">54-3A-20</span></a><span xml:space="preserve" class="s2072205DefaultParagraphFont"> unless and until written demand therefor has been made, signed by the buyer, and the creditor has failed to refund or credit such amount to the buyer within sixty days after receipt of the demand.</span></p><p dir="ltr" class="s2072205Normal"><span xml:space="preserve" class="s2072205000001"> </span></p><p dir="ltr" class="s2072205Normal"><span class="s2072205SCL">Source:</span><span xml:space="preserve" class="s2072205SCL-000002"> SL 1974, ch 305, § 17.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072206Normal { 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.s2072206SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072206CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072206Normal-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.s2072206DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072206000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072206SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072206SCL-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="s2072206Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3A-23"><span class="s2072206SENU">54-3A-23</span></a><span xml:space="preserve" class="s2072206SENU">. </span><span class="s2072206CL">Proof of unintentional error.</span></p><p dir="ltr" class="s2072206Normal-000000"><span class="s2072206DefaultParagraphFont">The creditor shall have the burden of establishing by a preponderance of the evidence that the excess amount or other violation occurred as a result of an unintentional or bona fide error of computation.</span></p><p dir="ltr" class="s2072206Normal"><span xml:space="preserve" class="s2072206000001"> </span></p><p dir="ltr" class="s2072206Normal"><span class="s2072206SCL">Source:</span><span xml:space="preserve" class="s2072206SCL-000002"> SL 1974, ch 305, § 16.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072207Normal { 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.s2072207SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072207CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072207Normal-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.s2072207DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072207000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072207SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072207SCL-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="s2072207Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3A-24"><span class="s2072207SENU">54-3A-24</span></a><span xml:space="preserve" class="s2072207SENU">. </span><span class="s2072207CL">Promulgation of rules.</span></p><p dir="ltr" class="s2072207Normal-000000"><span xml:space="preserve" class="s2072207DefaultParagraphFont">The Department of Labor and Regulation may promulgate rules and regulations to carry out the provisions of this chapter. Such rules and regulations shall be promulgated in accordance with chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=1-26"><span class="s2072207DefaultParagraphFont">1-26</span></a><span class="s2072207DefaultParagraphFont">.</span></p><p dir="ltr" class="s2072207Normal"><span xml:space="preserve" class="s2072207000001"> </span></p><p dir="ltr" class="s2072207Normal"><span class="s2072207SCL">Source:</span><span xml:space="preserve" class="s2072207SCL-000002"> SL 1974, ch 305, § 18; SL 2004, ch 17, § 304; SL 2011, ch 1 (Ex. Ord. </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=11-1"><span class="s2072207SCL-000002">11-1</span></a><span class="s2072207SCL-000002">), § 162, eff. Apr. 12, 2011.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072208Normal { 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.s2072208SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072208CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072208Normal-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.s2072208DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072208000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072208SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072208SCL-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="s2072208Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3A-25"><span class="s2072208SENU">54-3A-25</span></a><span xml:space="preserve" class="s2072208SENU">. </span><span class="s2072208CL">Severability of provisions.</span></p><p dir="ltr" class="s2072208Normal-000000"><span class="s2072208DefaultParagraphFont">If any part of this chapter is invalid, all valid parts that are severable from the invalid part shall remain in effect. If any part of this chapter is invalid in one or more of its applications, the parts that are severable from the invalid applications shall remain in effect in all valid applications.</span></p><p dir="ltr" class="s2072208Normal"><span xml:space="preserve" class="s2072208000001"> </span></p><p dir="ltr" class="s2072208Normal"><span class="s2072208SCL">Source:</span><span xml:space="preserve" class="s2072208SCL-000002"> SL 1974, ch 305, § 19.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s6cab209f9d7544e1b05be411201254cfNormal { 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.s6cab209f9d7544e1b05be411201254cfHG4 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s6cab209f9d7544e1b05be411201254cfHG4C { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s6cab209f9d7544e1b05be411201254cfNormal-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; } span.s6cab209f9d7544e1b05be411201254cf000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s6cab209f9d7544e1b05be411201254cfB { 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 54-4 - MONEY LENDING LICENSES"><meta property="og:description" content="SDLRC Codified Law 54-4 - MONEY LENDING LICENSES"><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes?Statute=54-4"><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="s6cab209f9d7544e1b05be411201254cfNormal"><span xml:space="preserve" class="s6cab209f9d7544e1b05be411201254cfHG4">CHAPTER </span><a href="https://sdlegislature.gov/Statutes?Statute=54-4" rel="noopener"><span class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">54-4</span></a></p><p dir="ltr" class="s6cab209f9d7544e1b05be411201254cfNormal"><span class="s6cab209f9d7544e1b05be411201254cfHG4C">MONEY LENDING LICENSES</span></p><p dir="ltr" class="s6cab209f9d7544e1b05be411201254cfNormal-000000"><span xml:space="preserve" class="s6cab209f9d7544e1b05be411201254cf000001"> </span></p><p dir="ltr" class="s6cab209f9d7544e1b05be411201254cfB"><a href="https://sdlegislature.gov/Statutes?Statute=54-4-1" rel="noopener"><span class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">54-4-1</span></a><span xml:space="preserve" class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">    </span><a href="https://sdlegislature.gov/Statutes?Statute=54-4-1" rel="noopener"><span class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">54-4-1</span></a><span class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">. Repealed by SL 1998, ch 280, § 30.</span></p><p dir="ltr" class="s6cab209f9d7544e1b05be411201254cfB"><a href="https://sdlegislature.gov/Statutes?Statute=54-4-2" rel="noopener"><span class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">54-4-2</span></a><span xml:space="preserve" class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">    </span><a href="https://sdlegislature.gov/Statutes?Statute=54-4-2" rel="noopener"><span class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">54-4-2</span></a><span class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">. Repealed by SL 1998, ch 280, § 29.</span></p><p dir="ltr" class="s6cab209f9d7544e1b05be411201254cfB"><a href="https://sdlegislature.gov/Statutes?Statute=54-4-3" rel="noopener"><span class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">54-4-3</span></a><span xml:space="preserve" class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">    </span><a href="https://sdlegislature.gov/Statutes?Statute=54-4-3" rel="noopener"><span class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">54-4-3</span></a><span xml:space="preserve" class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont"> to </span><a href="https://sdlegislature.gov/Statutes?Statute=54-4-3" rel="noopener"><span class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">54-4-3</span></a><span class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">5. Repealed by SL 1998, ch 280, § 30.</span></p><p dir="ltr" class="s6cab209f9d7544e1b05be411201254cfB"><a href="https://sdlegislature.gov/Statutes?Statute=54-4-36" rel="noopener"><span class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">54-4-36</span></a><span xml:space="preserve" class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">    Definition of terms.</span></p><p dir="ltr" class="s6cab209f9d7544e1b05be411201254cfB"><a href="https://sdlegislature.gov/Statutes?Statute=54-4-37" rel="noopener"><span class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">54-4-37</span></a><span xml:space="preserve" class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">    Entities exempt from chapter provisions.</span></p><p dir="ltr" class="s6cab209f9d7544e1b05be411201254cfB"><a href="https://sdlegislature.gov/Statutes?Statute=54-4-37.1" rel="noopener"><span class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">54-4-37.1</span></a><span xml:space="preserve" class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">    Exemption for originating, selling, servicing, or acquiring five or fewer loans in twelve-month period where total of outstanding loans under certain amount--Annual report.</span></p><p dir="ltr" class="s6cab209f9d7544e1b05be411201254cfB"><a href="https://sdlegislature.gov/Statutes?Statute=54-4-38" rel="noopener"><span class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">54-4-38</span></a><span xml:space="preserve" class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">    Promulgation of rules.</span></p><p dir="ltr" class="s6cab209f9d7544e1b05be411201254cfB"><a href="https://sdlegislature.gov/Statutes?Statute=54-4-39" rel="noopener"><span class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">54-4-39</span></a><span xml:space="preserve" class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">    Compliance with Title 53.</span></p><p dir="ltr" class="s6cab209f9d7544e1b05be411201254cfB"><a href="https://sdlegislature.gov/Statutes?Statute=54-4-40" rel="noopener"><span class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">54-4-40</span></a><span xml:space="preserve" class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">    Application for license--Licensure through nationwide mortgage licensing system--Public records--Exemptions.</span></p><p dir="ltr" class="s6cab209f9d7544e1b05be411201254cfB"><a href="https://sdlegislature.gov/Statutes?Statute=54-4-41" rel="noopener"><span class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">54-4-41</span></a><span xml:space="preserve" class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">    Rejection or acceptance of application by director.</span></p><p dir="ltr" class="s6cab209f9d7544e1b05be411201254cfB"><a href="https://sdlegislature.gov/Statutes?Statute=54-4-42" rel="noopener"><span class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">54-4-42</span></a><span xml:space="preserve" class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">    Bond to be filed with application.</span></p><p dir="ltr" class="s6cab209f9d7544e1b05be411201254cfB"><a href="https://sdlegislature.gov/Statutes?Statute=54-4-43" rel="noopener"><span class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">54-4-43</span></a><span xml:space="preserve" class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">    Investigation of facts concerning license application--Requirements for grant of license.</span></p><p dir="ltr" class="s6cab209f9d7544e1b05be411201254cfB"><a href="https://sdlegislature.gov/Statutes?Statute=54-4-44" rel="noopener"><span class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">54-4-44</span></a><span xml:space="preserve" class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">    Engaging in business after procurement of license--Maximum finance charge--Violation as misdemeanor--Loan void.</span></p><p dir="ltr" class="s6cab209f9d7544e1b05be411201254cfB"><a href="https://sdlegislature.gov/Statutes?Statute=54-4-44.1" rel="noopener"><span class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">54-4-44.1</span></a><span xml:space="preserve" class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">    Device, subterfuge, or pretense to evade maximum finance charge prohibited--Penalties.</span></p><p dir="ltr" class="s6cab209f9d7544e1b05be411201254cfB"><a href="https://sdlegislature.gov/Statutes?Statute=54-4-44.2" rel="noopener"><span class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">54-4-44.2</span></a><span xml:space="preserve" class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">    Motor vehicle purchase loan--Fees incident to extension of credit.</span></p><p dir="ltr" class="s6cab209f9d7544e1b05be411201254cfB"><a href="https://sdlegislature.gov/Statutes?Statute=54-4-44.3" rel="noopener"><span class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">54-4-44.3</span></a><span xml:space="preserve" class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">    Consumer default--Fees incident to extension of credit.</span></p><p dir="ltr" class="s6cab209f9d7544e1b05be411201254cfB"><a href="https://sdlegislature.gov/Statutes?Statute=54-4-44.4" rel="noopener"><span class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">54-4-44.4</span></a><span xml:space="preserve" class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">    Business-to-business lending exempt.</span></p><p dir="ltr" class="s6cab209f9d7544e1b05be411201254cfB"><a href="https://sdlegislature.gov/Statutes?Statute=54-4-45" rel="noopener"><span class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">54-4-45</span></a><span xml:space="preserve" class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">    Duration of license--Renewal.</span></p><p dir="ltr" class="s6cab209f9d7544e1b05be411201254cfB"><a href="https://sdlegislature.gov/Statutes?Statute=54-4-46" rel="noopener"><span class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">54-4-46</span></a><span xml:space="preserve" class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">    Transfer of license--Approval required for name change.</span></p><p dir="ltr" class="s6cab209f9d7544e1b05be411201254cfB"><a href="https://sdlegislature.gov/Statutes?Statute=54-4-47" rel="noopener"><span class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">54-4-47</span></a><span xml:space="preserve" class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">    Location to be licensed--Change of location.</span></p><p dir="ltr" class="s6cab209f9d7544e1b05be411201254cfB"><a href="https://sdlegislature.gov/Statutes?Statute=54-4-47.1" rel="noopener"><span class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">54-4-47.1</span></a><span xml:space="preserve" class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">    Remote work--Requirements.</span></p><p dir="ltr" class="s6cab209f9d7544e1b05be411201254cfB"><a href="https://sdlegislature.gov/Statutes?Statute=54-4-48" rel="noopener"><span class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">54-4-48</span></a><span xml:space="preserve" class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">    Cease and desist order for practice not in conformity to requirements--Appeal.</span></p><p dir="ltr" class="s6cab209f9d7544e1b05be411201254cfB"><a href="https://sdlegislature.gov/Statutes?Statute=54-4-49" rel="noopener"><span class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">54-4-49</span></a><span xml:space="preserve" class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">    Conditions, denial, nonrenewal, suspension, or revocation of license.</span></p><p dir="ltr" class="s6cab209f9d7544e1b05be411201254cfB"><a href="https://sdlegislature.gov/Statutes?Statute=54-4-50" rel="noopener"><span class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">54-4-50</span></a><span xml:space="preserve" class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">    Injunction against licensee for violation.</span></p><p dir="ltr" class="s6cab209f9d7544e1b05be411201254cfB"><a href="https://sdlegislature.gov/Statutes?Statute=54-4-51" rel="noopener"><span class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">54-4-51</span></a><span xml:space="preserve" class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">    Court-appointed receivership.</span></p><p dir="ltr" class="s6cab209f9d7544e1b05be411201254cfB"><a href="https://sdlegislature.gov/Statutes?Statute=54-4-52" rel="noopener"><span class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">54-4-52</span></a><span xml:space="preserve" class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">    License required.</span></p><p dir="ltr" class="s6cab209f9d7544e1b05be411201254cfB"><a href="https://sdlegislature.gov/Statutes?Statute=54-4-53" rel="noopener"><span class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">54-4-53</span></a><span xml:space="preserve" class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">    Deposit of funds.</span></p><p dir="ltr" class="s6cab209f9d7544e1b05be411201254cfB"><a href="https://sdlegislature.gov/Statutes?Statute=54-4-54" rel="noopener"><span class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">54-4-54</span></a><span xml:space="preserve" class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">    Payment of annual tax--Exemption.</span></p><p dir="ltr" class="s6cab209f9d7544e1b05be411201254cfB"><a href="https://sdlegislature.gov/Statutes?Statute=54-4-55" rel="noopener"><span class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">54-4-55</span></a><span xml:space="preserve" class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">    Exemption from other taxes.</span></p><p dir="ltr" class="s6cab209f9d7544e1b05be411201254cfB"><a href="https://sdlegislature.gov/Statutes?Statute=54-4-56" rel="noopener"><span class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">54-4-56</span></a><span xml:space="preserve" class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">    Renewal of application--Tax information--Forms.</span></p><p dir="ltr" class="s6cab209f9d7544e1b05be411201254cfB"><a href="https://sdlegislature.gov/Statutes?Statute=54-4-57" rel="noopener"><span class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">54-4-57</span></a><span xml:space="preserve" class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">    Examination of records--Costs--Information--Forms--Application of other provisions.</span></p><p dir="ltr" class="s6cab209f9d7544e1b05be411201254cfB"><a href="https://sdlegislature.gov/Statutes?Statute=54-4-58" rel="noopener"><span class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">54-4-58</span></a><span xml:space="preserve" class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">    Information required in contract.</span></p><p dir="ltr" class="s6cab209f9d7544e1b05be411201254cfB"><a href="https://sdlegislature.gov/Statutes?Statute=54-4-59" rel="noopener"><span class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">54-4-59</span></a><span xml:space="preserve" class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">    Property insurance required.</span></p><p dir="ltr" class="s6cab209f9d7544e1b05be411201254cfB"><a href="https://sdlegislature.gov/Statutes?Statute=54-4-60" rel="noopener"><span class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">54-4-60</span></a><span xml:space="preserve" class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">    Purchase of insurance not condition to receive loan.</span></p><p dir="ltr" class="s6cab209f9d7544e1b05be411201254cfB"><a href="https://sdlegislature.gov/Statutes?Statute=54-4-61" rel="noopener"><span class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">54-4-61</span></a><span xml:space="preserve" class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">    Copy provided to debtor.</span></p><p dir="ltr" class="s6cab209f9d7544e1b05be411201254cfB"><a href="https://sdlegislature.gov/Statutes?Statute=54-4-62" rel="noopener"><span class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">54-4-62</span></a><span xml:space="preserve" class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">    Satisfaction of loan--Release of assignments.</span></p><p dir="ltr" class="s6cab209f9d7544e1b05be411201254cfB"><a href="https://sdlegislature.gov/Statutes?Statute=54-4-63" rel="noopener"><span class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">54-4-63</span></a><span xml:space="preserve" class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">    Advertising.</span></p><p dir="ltr" class="s6cab209f9d7544e1b05be411201254cfB"><a href="https://sdlegislature.gov/Statutes?Statute=54-4-64" rel="noopener"><span class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">54-4-64</span></a><span xml:space="preserve" class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">    Application of chapter.</span></p><p dir="ltr" class="s6cab209f9d7544e1b05be411201254cfB"><a href="https://sdlegislature.gov/Statutes?Statute=54-4-65" rel="noopener"><span class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">54-4-65</span></a><span xml:space="preserve" class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">    Limitation on renewal, rollover, or flip of short-term consumer loan--Fee.</span></p><p dir="ltr" class="s6cab209f9d7544e1b05be411201254cfB"><a href="https://sdlegislature.gov/Statutes?Statute=54-4-66" rel="noopener"><span class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">54-4-66</span></a><span xml:space="preserve" class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">    Maximum amount of payday loan--Violation as misdemeanor.</span></p><p dir="ltr" class="s6cab209f9d7544e1b05be411201254cfB"><a href="https://sdlegislature.gov/Statutes?Statute=54-4-67" rel="noopener"><span class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">54-4-67</span></a><span xml:space="preserve" class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">    Production of records located outside state--Alternate procedures--Designated record inspectors.</span></p><p dir="ltr" class="s6cab209f9d7544e1b05be411201254cfB"><a href="https://sdlegislature.gov/Statutes?Statute=54-4-68" rel="noopener"><span class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">54-4-68</span></a><span xml:space="preserve" class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">    Appointment of resident agent for service of process--Notice.</span></p><p dir="ltr" class="s6cab209f9d7544e1b05be411201254cfB"><a href="https://sdlegislature.gov/Statutes?Statute=54-4-69" rel="noopener"><span class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">54-4-69</span></a><span xml:space="preserve" class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">    Consent to be sued--Form.</span></p><p dir="ltr" class="s6cab209f9d7544e1b05be411201254cfB"><a href="https://sdlegislature.gov/Statutes?Statute=54-4-70" rel="noopener"><span class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">54-4-70</span></a><span xml:space="preserve" class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">    Title loans to be evidenced by written agreement--Possession of certification of title--Application of statutes on secured transactions.</span></p><p dir="ltr" class="s6cab209f9d7544e1b05be411201254cfB"><a href="https://sdlegislature.gov/Statutes?Statute=54-4-71" rel="noopener"><span class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">54-4-71</span></a><span xml:space="preserve" class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">    Term of title loan--Renewal--Payment amounts--Deferred principal amount.</span></p><p dir="ltr" class="s6cab209f9d7544e1b05be411201254cfB"><a href="https://sdlegislature.gov/Statutes?Statute=54-4-72" rel="noopener"><span class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">54-4-72</span></a><span xml:space="preserve" class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">    Default in repayment of title loan--Remedy--Exception--Sale of reposed vehicle--Refund of surplus less expenses.</span></p><p dir="ltr" class="s6cab209f9d7544e1b05be411201254cfB"><a href="https://sdlegislature.gov/Statutes?Statute=54-4-73" rel="noopener"><span class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">54-4-73</span></a><span xml:space="preserve" class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">    Debt cancellation contract defined.</span></p><p dir="ltr" class="s6cab209f9d7544e1b05be411201254cfB"><a href="https://sdlegislature.gov/Statutes?Statute=54-4-74" rel="noopener"><span class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">54-4-74</span></a><span xml:space="preserve" class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">    Debt suspension contract defined.</span></p><p dir="ltr" class="s6cab209f9d7544e1b05be411201254cfB"><a href="https://sdlegislature.gov/Statutes?Statute=54-4-75" rel="noopener"><span class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">54-4-75</span></a><span xml:space="preserve" class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">    Debt cancellation contracts and debt suspension contracts permitted.</span></p><p dir="ltr" class="s6cab209f9d7544e1b05be411201254cfB"><a href="https://sdlegislature.gov/Statutes?Statute=54-4-76" rel="noopener"><span class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">54-4-76</span></a><span xml:space="preserve" class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">    Loans by unlicensed lenders uncollectible except for principal.</span></p><p dir="ltr" class="s6cab209f9d7544e1b05be411201254cfB"><a href="https://sdlegislature.gov/Statutes?Statute=54-4-77" rel="noopener"><span class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">54-4-77</span></a><span xml:space="preserve" class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">    Debt collection--Prohibitions.</span></p><p dir="ltr" class="s6cab209f9d7544e1b05be411201254cfB"><a href="https://sdlegislature.gov/Statutes?Statute=54-4-77.1" rel="noopener"><span class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">54-4-77.1</span></a><span xml:space="preserve" class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">    Exemptions not applicable to prohibited debt-collection tactics.</span></p><p dir="ltr" class="s6cab209f9d7544e1b05be411201254cfB"><a href="https://sdlegislature.gov/Statutes?Statute=54-4-78" rel="noopener"><span class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">54-4-78</span></a><span xml:space="preserve" class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">    Use of nationwide mortgage licensing system and registry for requesting and distributing information.</span></p><p dir="ltr" class="s6cab209f9d7544e1b05be411201254cfB"><a href="https://sdlegislature.gov/Statutes?Statute=54-4-79" rel="noopener"><span class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">54-4-79</span></a><span xml:space="preserve" class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">    Contracts for collection and maintenance of records and processing of fees.</span></p><p dir="ltr" class="s6cab209f9d7544e1b05be411201254cfB"><a href="https://sdlegislature.gov/Statutes?Statute=54-4-80" rel="noopener"><span class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">54-4-80</span></a><span xml:space="preserve" class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">    Sharing of information collected by director.</span></p><p dir="ltr" class="s6cab209f9d7544e1b05be411201254cfB"><a href="https://sdlegislature.gov/Statutes?Statute=54-4-81" rel="noopener"><span class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">54-4-81</span></a><span xml:space="preserve" class="s6cab209f9d7544e1b05be411201254cfDefaultParagraphFont">    Attorney's fees recoverable if provided for in evidence of debt.</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 - DEBTOR AND CREDITOR 54-4-1 </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 54-4-1 "> <META NAME="Description" Content="South Dakota Codified Laws 54-4-1"> </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 --> 54-4-1. <!-- WP Paired Style Off: SENU -->&nbsp;<!-- WP Style End: SENU --> Repealed by SL 1998, ch 280, &#167;&nbsp;30.<p> </BODY> </HTML> <br /><hr><br /> <HTML> <HEAD> <HTML> <HEAD> <meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 54 - DEBTOR AND CREDITOR 54-4-2 </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 54-4-2 "> <META NAME="Description" Content="South Dakota Codified Laws 54-4-2"> </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 --> 54-4-2. <!-- WP Paired Style Off: SENU -->&nbsp;<!-- WP Style End: SENU --> Repealed by SL 1998, ch 280, &#167;&nbsp;29.<p> </BODY> </HTML> <br /><hr><br /> <HTML> <HEAD> <HTML> <HEAD> <meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 54 - DEBTOR AND CREDITOR 54-4-3 </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 54-4-3 "> <META NAME="Description" Content="South Dakota Codified Laws 54-4-3"> </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 --> 54-4-3 to 54-4-35. <!-- WP Paired Style Off: SENU -->&nbsp;<!-- WP Style End: SENU --> Repealed by SL 1998, ch 280, &#167;&nbsp;30.<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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072213Normal { 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.s2072213SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072213CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072213Normal-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.s2072213DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072213Normal-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.s2072213000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072213SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072213SCL-000003 { 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="s2072213Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-4-36"><span class="s2072213SENU">54-4-36</span></a><span xml:space="preserve" class="s2072213SENU">. </span><span class="s2072213CL">Definition of terms.</span></p><p dir="ltr" class="s2072213Normal-000000"><span class="s2072213DefaultParagraphFont">Terms used in this chapter mean:</span></p><p dir="ltr" class="s2072213Normal-000001"><span class="s2072213DefaultParagraphFont">(1)    "Advertisement," a commercial message in any medium that aids, promotes, or assists, directly or indirectly, the sale of products or services;</span></p><p dir="ltr" class="s2072213Normal-000001"><span xml:space="preserve" class="s2072213DefaultParagraphFont">(2)    "Business of lending money," includes the originating, selling, servicing, acquiring, or purchasing of any loan involving a borrower who is a person other than a family member, or the servicing, acquiring, or purchasing of a retail installment contract a party to which is a person other than a family member. The term does not include any seller-financed transaction for the sale of assets to a purchaser or any seller-financed transaction for the sale of real estate through a contract for deed so long as the interest rate for the transaction does not exceed the rate permitted under § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-4-44"><span class="s2072213DefaultParagraphFont">54-4-44</span></a><span class="s2072213DefaultParagraphFont">;</span></p><p dir="ltr" class="s2072213Normal-000001"><span class="s2072213DefaultParagraphFont">(3)    "Commission," the State Banking Commission;</span></p><p dir="ltr" class="s2072213Normal-000001"><span class="s2072213DefaultParagraphFont">(4)    "Director," the director of the Division of Banking of the Department of Labor and Regulation;</span></p><p dir="ltr" class="s2072213Normal-000001"><span class="s2072213DefaultParagraphFont">(5)    "Division," the Division of Banking;</span></p><p dir="ltr" class="s2072213Normal-000001"><span class="s2072213DefaultParagraphFont">(6)    "Duration," the time a loan exists before it is paid off, renewed, rolled over, or flipped;</span></p><p dir="ltr" class="s2072213Normal-000001"><span xml:space="preserve" class="s2072213DefaultParagraphFont">(7)    "Family member," includes an immediate family member as the term is defined in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-14-12"><span class="s2072213DefaultParagraphFont">54-14-12</span></a><span xml:space="preserve" class="s2072213DefaultParagraphFont"> that includes any descendant of a person's grandparents and any descendant of a person's spouse's grandparents;</span></p><p dir="ltr" class="s2072213Normal-000001"><span class="s2072213DefaultParagraphFont">(8)    "Finance charge," the amount, however denominated, that is the direct or indirect cost payable by a borrower for a loan;</span></p><p dir="ltr" class="s2072213Normal-000001"><span class="s2072213DefaultParagraphFont">(9)    "Installment loan," a loan made to be repaid in specified amounts over a certain number of months;</span></p><p dir="ltr" class="s2072213Normal-000001"><span class="s2072213DefaultParagraphFont">(10)    "License," a license provided by this chapter;</span></p><p dir="ltr" class="s2072213Normal-000001"><span class="s2072213DefaultParagraphFont">(11)    "Installment loan contract" or "contract," an agreement evidencing an installment loan transaction;</span></p><p dir="ltr" class="s2072213Normal-000001"><span class="s2072213DefaultParagraphFont">(12)    "Licensee," any person holding a license;</span></p><p dir="ltr" class="s2072213Normal-000001"><span class="s2072213DefaultParagraphFont">(13)    "Loan," any installment loan, single pay loan, or open-end loan which may be unsecured or secured by real or personal property. The term does not include an installment sales contract as defined under subdivision 54-3A-1(6);</span></p><p dir="ltr" class="s2072213Normal-000001"><span class="s2072213DefaultParagraphFont">(14)    "Nationwide mortgage licensing system and registry," a licensing system developed and maintained by the Conference of State Bank Supervisors and the American Association of Residential Mortgage Regulators for the licensing and registration of licensed mortgage loan originators and other regulated entities;</span></p><p dir="ltr" class="s2072213Normal-000001"><span class="s2072213DefaultParagraphFont">(15)    "Payday loan," any short-maturity loan on the security of a check, any assignment of an interest in the account of a person at a depository institution, any authorization to debit the person's deposit account, any assignment of salary or wages payable to a person. A short-maturity loan made in anticipation of an income tax refund is not a payday loan for purposes of this chapter;</span></p><p dir="ltr" class="s2072213Normal-000001"><span class="s2072213DefaultParagraphFont">(16)    "Regional revolving loan fund," a regional revolving loan fund with a service area of at least five South Dakota counties, a designated staff for loan processing and servicing, a loan portfolio of at least one million dollars, and that is governed by a board of directors that meets at least quarterly;</span></p><p dir="ltr" class="s2072213Normal-000001"><span class="s2072213DefaultParagraphFont">(17)    "Short-term consumer loan," any loan to any individual borrower with a duration of six months or less, including a payday loan. A title loan is not a short-term consumer loan for purposes of this chapter;</span></p><p dir="ltr" class="s2072213Normal-000001"><span class="s2072213DefaultParagraphFont">(18)    "Title lender," a regulated lender authorized pursuant to this chapter to make title loans;</span></p><p dir="ltr" class="s2072213Normal-000001"><span class="s2072213DefaultParagraphFont">(19)    "Title loan," a loan for a debtor that is secured by a nonpurchase money security interest in a motor vehicle and that is scheduled to be repaid in a single installment.</span></p><p dir="ltr" class="s2072213Normal"><span xml:space="preserve" class="s2072213000002"> </span></p><p dir="ltr" class="s2072213Normal"><span class="s2072213SCL">Source:</span><span xml:space="preserve" class="s2072213SCL-000003"> SL 1998, ch 280, § 1; SL 2004, ch 17, § 305; SL 2004, ch 291, § 1; SL 2005, ch 257, § 5; SL 2006, ch 245, § 1; SL 2011, ch 1 (Ex. Ord. </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=11-1"><span class="s2072213SCL-000003">11-1</span></a><span class="s2072213SCL-000003">), § 162, eff. Apr. 12, 2011; SL 2015, ch 242, § 1; SL 2017, ch 205, § 1; SL 2018, ch 271, § 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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072214Normal { 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.s2072214SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072214CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072214Normal-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.s2072214DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072214Normal-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.s2072214000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072214SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072214SCL-000003 { 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="s2072214Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-4-37"><span class="s2072214SENU">54-4-37</span></a><span xml:space="preserve" class="s2072214SENU">. </span><span class="s2072214CL">Entities exempt from chapter provisions.</span></p><p dir="ltr" class="s2072214Normal-000000"><span class="s2072214DefaultParagraphFont">The following entities are exempt from the provisions of this chapter:</span></p><p dir="ltr" class="s2072214Normal-000001"><span class="s2072214DefaultParagraphFont">(1)    Any state bank and its subsidiary;</span></p><p dir="ltr" class="s2072214Normal-000001"><span class="s2072214DefaultParagraphFont">(2)    Any national bank and its subsidiary;</span></p><p dir="ltr" class="s2072214Normal-000001"><span class="s2072214DefaultParagraphFont">(3)    Any bank holding company and its subsidiary;</span></p><p dir="ltr" class="s2072214Normal-000001"><span class="s2072214DefaultParagraphFont">(4)    Any other federally insured financial institution, its holding company and subsidiary; and</span></p><p dir="ltr" class="s2072214Normal-000001"><span class="s2072214DefaultParagraphFont">(5)    Any South Dakota chartered trust company.</span></p><p dir="ltr" class="s2072214Normal"><span xml:space="preserve" class="s2072214000002"> </span></p><p dir="ltr" class="s2072214Normal"><span class="s2072214SCL">Source:</span><span xml:space="preserve" class="s2072214SCL-000003"> SL 1998, ch 280, § 2; SL 1999, ch 239, § 1; SL 2004, ch 292, § 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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072215Normal { 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.s2072215SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072215CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072215Normal-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.s2072215DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072215Normal-000001 { margin-top: 0; margin-bottom: 0; text-indent: 0.25in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2072215000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072215SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072215SCL-000003 { 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="s2072215Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-4-37.1"><span class="s2072215SENU">54-4-37.1</span></a><span xml:space="preserve" class="s2072215SENU">. </span><span class="s2072215CL">Exemption for originating, selling, servicing, or acquiring five or fewer loans in twelve-month period where total of outstanding loans under certain amount--Annual report.</span></p><p dir="ltr" class="s2072215Normal-000000"><span xml:space="preserve" class="s2072215DefaultParagraphFont">Any person who, on, before, or after July 1, 2017, originates, sells, services, or acquires five or fewer loans in a twelve-month period is exempt from this chapter, except for the provisions of chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=10-43"><span class="s2072215DefaultParagraphFont">10-43</span></a><span xml:space="preserve" class="s2072215DefaultParagraphFont"> as referenced in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-4-54"><span class="s2072215DefaultParagraphFont">54-4-54</span></a><span class="s2072215DefaultParagraphFont">, as long as the total amount of the loans outstanding does not exceed four million dollars. The exemption under this section applies jointly to every entity in which a person has an equity interest, whether the loan or loans are made by that person or through an entity in which the person holds an equity interest.</span></p><p dir="ltr" class="s2072215Normal-000001"><span class="s2072215DefaultParagraphFont">Any person exempted by the provisions of this section shall report to the division annually, no later than December thirty-first of 2017, and every subsequent year for any year in which loans are originated, sold, serviced, or acquired. The annual report shall contain the name and address of the person who originated, sold, serviced, or acquired loans, the number of loans originated, sold, serviced, or acquired in the preceding calendar year, and the total balance of all loans originated, sold, serviced, or acquired.</span></p><p dir="ltr" class="s2072215Normal"><span xml:space="preserve" class="s2072215000002"> </span></p><p dir="ltr" class="s2072215Normal"><span class="s2072215SCL">Source:</span><span xml:space="preserve" class="s2072215SCL-000003"> SL 2017, ch 207, § 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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072216Normal { 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.s2072216SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072216CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072216Normal-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.s2072216DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072216Normal-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.s2072216000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072216SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072216SCL-000003 { 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="s2072216Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-4-38"><span class="s2072216SENU">54-4-38</span></a><span xml:space="preserve" class="s2072216SENU">. </span><span class="s2072216CL">Promulgation of rules.</span></p><p dir="ltr" class="s2072216Normal-000000"><span xml:space="preserve" class="s2072216DefaultParagraphFont">The commission may promulgate rules pursuant to chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=1-26"><span class="s2072216DefaultParagraphFont">1-26</span></a><span xml:space="preserve" class="s2072216DefaultParagraphFont"> to provide for:</span></p><p dir="ltr" class="s2072216Normal-000001"><span class="s2072216DefaultParagraphFont">(1)    Rules of practice;</span></p><p dir="ltr" class="s2072216Normal-000001"><span class="s2072216DefaultParagraphFont">(2)    Internal management of finance companies;</span></p><p dir="ltr" class="s2072216Normal-000001"><span class="s2072216DefaultParagraphFont">(3)    Retention of records;</span></p><p dir="ltr" class="s2072216Normal-000001"><span class="s2072216DefaultParagraphFont">(4)    Additional examination fees; and</span></p><p dir="ltr" class="s2072216Normal-000001"><span class="s2072216DefaultParagraphFont">(5)    Remote electronic lending.</span></p><p dir="ltr" class="s2072216Normal"><span xml:space="preserve" class="s2072216000002"> </span></p><p dir="ltr" class="s2072216Normal"><span class="s2072216SCL">Source:</span><span xml:space="preserve" class="s2072216SCL-000003"> SL 1998, ch 280, § 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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072217Normal { 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.s2072217SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072217CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072217Normal-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.s2072217DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072217000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072217SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072217SCL-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="s2072217Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-4-39"><span class="s2072217SENU">54-4-39</span></a><span xml:space="preserve" class="s2072217SENU">. </span><span class="s2072217CL">Compliance with Title 53.</span></p><p dir="ltr" class="s2072217Normal-000000"><span class="s2072217DefaultParagraphFont">An installment loan contract shall comply with all provisions of Title 53.</span></p><p dir="ltr" class="s2072217Normal"><span xml:space="preserve" class="s2072217000001"> </span></p><p dir="ltr" class="s2072217Normal"><span class="s2072217SCL">Source:</span><span xml:space="preserve" class="s2072217SCL-000002"> SL 1998, ch 280, § 4.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072218Normal { 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.s2072218SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072218CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072218Normal-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.s2072218DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072218Normal-000001 { margin-top: 0; margin-bottom: 0; text-indent: 0.25in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2072218000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072218SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072218SCL-000003 { 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="s2072218Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-4-40"><span class="s2072218SENU">54-4-40</span></a><span xml:space="preserve" class="s2072218SENU">. </span><span class="s2072218CL">Application for license--Licensure through nationwide mortgage licensing system--Public records--Exemptions .</span></p><p dir="ltr" class="s2072218Normal-000000"><span xml:space="preserve" class="s2072218DefaultParagraphFont">Any person who engages in the business of lending money shall apply for a license as prescribed by this chapter. The applicant shall apply for a license under oath on forms supplied by the division. The application shall contain the name of the applicant's business, proof of surety bond, address of the business, the names and addresses of the partners, members, officers, directors, or trustees, and other information the director may consider necessary. The applicant shall pay an original license fee, as set by rules of the commission promulgated pursuant to chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=1-26"><span class="s2072218DefaultParagraphFont">1-26</span></a><span class="s2072218DefaultParagraphFont">, not to exceed one thousand dollars. If the application of an existing licensee is for an additional location, the application need only include the location and identity of the location manager, plus any changes from the existing license, or such other information the director may consider necessary. Any person may be licensed and maintain a unique identifier through the nationwide mortgage licensing system and registry.</span></p><p dir="ltr" class="s2072218Normal-000001"><span xml:space="preserve" class="s2072218DefaultParagraphFont">The proof of surety bond and the names and addresses of the business, members, officers, and trustees as contained in the application under this section are public records for purposes of chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=1-27"><span class="s2072218DefaultParagraphFont">1-27</span></a><span class="s2072218DefaultParagraphFont">.</span></p><p dir="ltr" class="s2072218Normal-000001"><span xml:space="preserve" class="s2072218DefaultParagraphFont">The state, any political subdivision of the state, and any quasi-governmental organization created by state law or an executive order of the state and any subsidiary of that organization is exempt from the requirements of this chapter. Any nonprofit corporation formed pursuant to the provisions of chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-22"><span class="s2072218DefaultParagraphFont">47-22</span></a><span xml:space="preserve" class="s2072218DefaultParagraphFont">; any nonprofit United States Treasury Community Development Financial Institution, Small Business Administration Certified Development Company, or Regional Revolving Loan Fund; or any commercial club, chamber of commerce, or industrial development corporation formed pursuant to the provisions of § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=9-12-11"><span class="s2072218DefaultParagraphFont">9-12-11</span></a><span xml:space="preserve" class="s2072218DefaultParagraphFont"> or </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=9-27-37"><span class="s2072218DefaultParagraphFont">9-27-37</span></a><span xml:space="preserve" class="s2072218DefaultParagraphFont"> is subject to this chapter but exempt from initial license fees, renewal fees, and surety bond requirements pursuant to the provisions of this chapter.</span></p><p dir="ltr" class="s2072218Normal"><span xml:space="preserve" class="s2072218000002"> </span></p><p dir="ltr" class="s2072218Normal"><span class="s2072218SCL">Source:</span><span xml:space="preserve" class="s2072218SCL-000003"> SL 1998, ch 280, § 5; SL 2004, ch 293, § 1, eff. Feb. 25, 2004; SL 2005, ch 257, § 1; SL 2005, ch 258, § 1; SL 2006, ch 245, § 4; SL 2015, ch 242, § 2; SL 2019, ch 208, § 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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072219Normal { 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.s2072219SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072219CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072219Normal-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.s2072219DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072219000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072219SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072219SCL-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="s2072219Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-4-41"><span class="s2072219SENU">54-4-41</span></a><span xml:space="preserve" class="s2072219SENU">. </span><span class="s2072219CL">Rejection or acceptance of application by director.</span></p><p dir="ltr" class="s2072219Normal-000000"><span class="s2072219DefaultParagraphFont">The director shall approve or deny an application for a license within thirty days of receipt of any application.</span></p><p dir="ltr" class="s2072219Normal"><span xml:space="preserve" class="s2072219000001"> </span></p><p dir="ltr" class="s2072219Normal"><span class="s2072219SCL">Source:</span><span xml:space="preserve" class="s2072219SCL-000002"> SL 1998, ch 280, § 6.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072220Normal { 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.s2072220SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072220CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072220Normal-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.s2072220DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072220Normal-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; } p.s2072220Normal-000002 { text-indent: 0.25in; 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.s2072220000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072220SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072220SCL-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="s2072220Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-4-42"><span class="s2072220SENU">54-4-42</span></a><span xml:space="preserve" class="s2072220SENU">. </span><span class="s2072220CL">Bond to be filed with application.</span></p><p dir="ltr" class="s2072220Normal-000000"><span class="s2072220DefaultParagraphFont">The applicant shall submit with the application for a license a bond in an amount not to exceed the total of ten thousand dollars for the first license and two thousand five hundred dollars for each additional license. The bond shall be satisfactory to the director and issued by a surety company qualified to do business as a surety in this state. The bond shall be in favor of this state for the use of this state and any person who has a cause of action under this chapter against the licensee. The bond shall be conditioned on:</span></p><p dir="ltr" class="s2072220Normal-000001"><span class="s2072220DefaultParagraphFont">(1)    The licensee's faithful performance under this chapter and any rules adopted pursuant to this chapter; and</span></p><p dir="ltr" class="s2072220Normal-000001"><span class="s2072220DefaultParagraphFont">(2)    The payment of any amounts that are due to the state or another person during the calendar year for which the bond is given.</span></p><p dir="ltr" class="s2072220Normal-000002"><span class="s2072220DefaultParagraphFont">The aggregate liability of a surety to all persons damaged by a licensee's violation of this chapter may not exceed the amount of the bond.</span></p><p dir="ltr" class="s2072220Normal"><span xml:space="preserve" class="s2072220000003"> </span></p><p dir="ltr" class="s2072220Normal"><span class="s2072220SCL">Source:</span><span xml:space="preserve" class="s2072220SCL-000004"> SL 1998, ch 280, § 7; SL 2005, ch 258, § 2; SL 2006, ch 245, § 5.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072221Normal { 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.s2072221SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072221CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072221Normal-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.s2072221DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072221000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072221SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072221SCL-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="s2072221Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-4-43"><span class="s2072221SENU">54-4-43</span></a><span xml:space="preserve" class="s2072221SENU">. </span><span class="s2072221CL">Investigation of facts concerning license application--Requirements for grant of license.</span></p><p dir="ltr" class="s2072221Normal-000000"><span class="s2072221DefaultParagraphFont">The director shall investigate the facts concerning the application. The director may review and consider the relevant business records of the applicant and the competence, experience, integrity, and financial ability of any person who is a member, partner, director, officer, or twenty-five percent or more shareholder of the business. If the director finds that the financial responsibility, financial condition, business experience, character, and general fitness of the applicant reasonably warrant the belief that the business will be conducted lawfully and fairly, the director may grant a license based on the findings.</span></p><p dir="ltr" class="s2072221Normal"><span xml:space="preserve" class="s2072221000001"> </span></p><p dir="ltr" class="s2072221Normal"><span class="s2072221SCL">Source:</span><span xml:space="preserve" class="s2072221SCL-000002"> SL 1998, ch 280, § 8; SL 2005, ch 258, § 3.</span></p><p dir="ltr" class="s2072221Normal"><span xml:space="preserve" class="s2072221000001"> </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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072222Normal { 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.s2072222SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072222CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072222Normal-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.s2072222DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072222000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072222SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072222SCL-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="s2072222Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-4-44"><span class="s2072222SENU">54-4-44</span></a><span xml:space="preserve" class="s2072222SENU">. </span><span class="s2072222CL">Engaging in business after procurement of license--Maximum finance charge--Violation as misdemeanor--Loan void.</span></p><p dir="ltr" class="s2072222Normal-000000"><span class="s2072222DefaultParagraphFont">After procuring such license from the Division of Banking, the licensee may engage in the business of making loans and may contract for and receive interest charges and other fees at rates, amounts, and terms as agreed to by the parties which may be included in the principal balance of the loan and specified in the contract. However, no licensee may contract for or receive finance charges pursuant to a loan in excess of an annual rate of thirty-six percent, including all charges for any ancillary product or service and any other charge or fee incident to the extension of credit. A violation of this section is a Class 1 misdemeanor. Any loan made in violation of this section is void and uncollectible as to any principal, fee, interest, or charge.</span></p><p dir="ltr" class="s2072222Normal"><span xml:space="preserve" class="s2072222000001"> </span></p><p dir="ltr" class="s2072222Normal"><span class="s2072222SCL">Source:</span><span xml:space="preserve" class="s2072222SCL-000002"> SL 1998, ch 280, § 9; SL 2017, ch 221 (Initiated Measure 21), § 2, eff. Nov. 16, 2016; SL 2017, ch 205, § 2.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072223Normal { 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.s2072223SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072223CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072223Normal-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.s2072223DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072223000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072223SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072223SCL-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="s2072223Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-4-44.1"><span class="s2072223SENU">54-4-44.1</span></a><span xml:space="preserve" class="s2072223SENU">. </span><span class="s2072223CL">Device, subterfuge, or pretense to evade maximum finance charge prohibited--Penalties.</span></p><p dir="ltr" class="s2072223Normal-000000"><span xml:space="preserve" class="s2072223DefaultParagraphFont">No person may engage in any device, subterfuge, or pretense to evade the requirements of § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-4-44"><span class="s2072223DefaultParagraphFont">54-4-44</span></a><span xml:space="preserve" class="s2072223DefaultParagraphFont">, including, but not limited to, making loans disguised as a personal property sale and leaseback transaction; disguising loan proceeds as a cash rebate for the pretextual installment sale of goods or services; or making, offering, assisting, or arranging a debtor to obtain a loan with a greater rate of interest, consideration, or charge than is permitted by this chapter through any method including mail, telephone, internet, or any electronic means regardless of whether the person has a physical location in the state. Notwithstanding any other provision of this chapter, a violation of this section is subject to the penalties in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-4-44"><span class="s2072223DefaultParagraphFont">54-4-44</span></a><span class="s2072223DefaultParagraphFont">.</span></p><p dir="ltr" class="s2072223Normal"><span xml:space="preserve" class="s2072223000001"> </span></p><p dir="ltr" class="s2072223Normal"><span class="s2072223SCL">Source:</span><span xml:space="preserve" class="s2072223SCL-000002"> SL 2017, ch 221 (Initiated Measure 21), § 3, eff. Nov. 16, 2016.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072224Normal { 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.s2072224SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072224CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072224Normal-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.s2072224DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072224000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072224SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072224SCL-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="s2072224Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-4-44.2"><span class="s2072224SENU">54-4-44.2</span></a><span xml:space="preserve" class="s2072224SENU">. </span><span class="s2072224CL">Motor vehicle purchase loan--Fees incident to extension of credit.</span></p><p dir="ltr" class="s2072224Normal-000000"><span xml:space="preserve" class="s2072224DefaultParagraphFont">For purposes of § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-4-44"><span class="s2072224DefaultParagraphFont">54-4-44</span></a><span class="s2072224DefaultParagraphFont">, fees contracted for or received that are "incident to the extension of credit" in connection with a loan for the purchase of a motor vehicle do not include fees for optional maintenance agreements and extended service contracts, official fees and taxes, sales tax, title fees, lien registration fees, and dealer documentary fees.</span></p><p dir="ltr" class="s2072224Normal"><span xml:space="preserve" class="s2072224000001"> </span></p><p dir="ltr" class="s2072224Normal"><span class="s2072224SCL">Source:</span><span xml:space="preserve" class="s2072224SCL-000002"> SL 2017, ch 205, § 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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072225Normal { 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.s2072225SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072225CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072225Normal-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.s2072225DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072225000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072225SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072225SCL-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="s2072225Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-4-44.3"><span class="s2072225SENU">54-4-44.3</span></a><span xml:space="preserve" class="s2072225SENU">. </span><span class="s2072225CL">Consumer default--Fees incident to extension of credit.</span></p><p dir="ltr" class="s2072225Normal-000000"><span xml:space="preserve" class="s2072225DefaultParagraphFont">For the purposes of § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-4-44"><span class="s2072225DefaultParagraphFont">54-4-44</span></a><span xml:space="preserve" class="s2072225DefaultParagraphFont"> for all loans, late fees, return check fees, and attorney's fees incurred upon consumer default are not fees "incident to the extension of credit."</span></p><p dir="ltr" class="s2072225Normal"><span xml:space="preserve" class="s2072225000001"> </span></p><p dir="ltr" class="s2072225Normal"><span class="s2072225SCL">Source:</span><span xml:space="preserve" class="s2072225SCL-000002"> SL 2017, ch 205, § 4.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072226Normal { 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.s2072226SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072226CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072226Normal-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.s2072226DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072226000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072226SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072226SCL-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="s2072226Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-4-44.4"><span class="s2072226SENU">54-4-44.4</span></a><span xml:space="preserve" class="s2072226SENU">. </span><span class="s2072226CL">Business-to-business lending exempt.</span></p><p dir="ltr" class="s2072226Normal-000000"><span xml:space="preserve" class="s2072226DefaultParagraphFont">The provisions of § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-4-44"><span class="s2072226DefaultParagraphFont">54-4-44</span></a><span xml:space="preserve" class="s2072226DefaultParagraphFont"> that place limitations on licensees that are engaged in the business of making loans do not apply to a licensee engaged in business-to-business lending. For purposes of this section, the term, business-to-business lending, means any lending to or in furtherance of a business, commercial, or agricultural venture that is not for personal, family, or household use and is not secured by a nonpurchase money security interest in a motor vehicle. Any business-to-business lending subject to the provisions of this section shall be in an amount not less than five thousand dollars and only to a borrower with a federal employer identification number.</span></p><p dir="ltr" class="s2072226Normal"><span xml:space="preserve" class="s2072226000001"> </span></p><p dir="ltr" class="s2072226Normal"><span class="s2072226SCL">Source:</span><span xml:space="preserve" class="s2072226SCL-000002"> SL 2017, ch 206, § 1; SL 2018, ch 272, § 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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072227Normal { 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.s2072227SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072227CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072227Normal-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.s2072227DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072227Normal-000001 { margin-top: 0; margin-bottom: 0; text-indent: 0.25in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2072227000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072227SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072227SCL-000003 { 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="s2072227Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-4-45"><span class="s2072227SENU">54-4-45</span></a><span xml:space="preserve" class="s2072227SENU">. </span><span class="s2072227CL">Duration of license--Renewal.</span></p><p dir="ltr" class="s2072227Normal-000000"><span xml:space="preserve" class="s2072227DefaultParagraphFont">A license expires on December thirty-first. To renew a license, the licensee shall file for renewal by December first. The renewal application shall include a renewal fee not to exceed one thousand dollars, as set by rules of the commission promulgated pursuant to chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=1-26"><span class="s2072227DefaultParagraphFont">1-26</span></a><span xml:space="preserve" class="s2072227DefaultParagraphFont">, proof of surety bond, and any other information as required by the director, by rule or order. Any licensee that files for renewal after December first and before January first of the next calendar year shall pay a late fee in addition to the renewal fee. The late fee shall equal twenty-five percent of the renewal fee. After December thirty-first, no license may be issued unless an application is filed pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-4-40"><span class="s2072227DefaultParagraphFont">54-4-40</span></a><span class="s2072227DefaultParagraphFont">.</span></p><p dir="ltr" class="s2072227Normal-000001"><span xml:space="preserve" class="s2072227DefaultParagraphFont">Any money lending license issued pursuant to chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-4"><span class="s2072227DefaultParagraphFont">54-4</span></a><span xml:space="preserve" class="s2072227DefaultParagraphFont"> that is set to expire on July 1, 2015, is extended until December 31, 2015.</span></p><p dir="ltr" class="s2072227Normal"><span xml:space="preserve" class="s2072227000002"> </span></p><p dir="ltr" class="s2072227Normal"><span class="s2072227SCL">Source:</span><span xml:space="preserve" class="s2072227SCL-000003"> SL 1998, ch 280, § 10; SL 2004, ch 293, § 2, eff. Feb. 25, 2004; SL 2005, ch 258, § 4; SL 2015, ch 242, § 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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072228Normal { 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.s2072228SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072228CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072228Normal-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.s2072228DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072228000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072228SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072228SCL-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="s2072228Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-4-46"><span class="s2072228SENU">54-4-46</span></a><span xml:space="preserve" class="s2072228SENU">. </span><span class="s2072228CL">Transfer of license--Approval required for name change.</span></p><p dir="ltr" class="s2072228Normal-000000"><span class="s2072228DefaultParagraphFont">The licensee may not transfer or assign the license. The licensee may only transact business under a name shown on the license. Any name change is subject to prior approval by the director.</span></p><p dir="ltr" class="s2072228Normal"><span xml:space="preserve" class="s2072228000001"> </span></p><p dir="ltr" class="s2072228Normal"><span class="s2072228SCL">Source:</span><span xml:space="preserve" class="s2072228SCL-000002"> SL 1998, ch 280, § 11.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072229Normal { 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.s2072229SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072229CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072229Normal-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.s2072229DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072229000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072229SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072229SCL-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="s2072229Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-4-47"><span class="s2072229SENU">54-4-47</span></a><span xml:space="preserve" class="s2072229SENU">. </span><span class="s2072229CL">Location to be licensed--Change of location.</span></p><p dir="ltr" class="s2072229Normal-000000"><span class="s2072229DefaultParagraphFont">Each licensee's business location shall be licensed. The director shall approve or deny any change of location. The director shall amend the license to show the new location upon granting approval.</span></p><p dir="ltr" class="s2072229Normal"><span xml:space="preserve" class="s2072229000001"> </span></p><p dir="ltr" class="s2072229Normal"><span class="s2072229SCL">Source:</span><span xml:space="preserve" class="s2072229SCL-000002"> SL 1998, ch 280, § 12.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s65d1d82ffd7a4e1cb592074642cf24e8Normal { 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.s65d1d82ffd7a4e1cb592074642cf24e8SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s65d1d82ffd7a4e1cb592074642cf24e8CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s65d1d82ffd7a4e1cb592074642cf24e8Statute { 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.s65d1d82ffd7a4e1cb592074642cf24e8DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s65d1d82ffd7a4e1cb592074642cf24e8StatuteNumber1 { margin-left: 0.75in; text-indent: -0.50in; 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.s65d1d82ffd7a4e1cb592074642cf24e8000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s65d1d82ffd7a4e1cb592074642cf24e8NoIndent { 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.s65d1d82ffd7a4e1cb592074642cf24e8DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s65d1d82ffd7a4e1cb592074642cf24e8SCL { 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 - Remote work--Requirements."><meta property="og:description" content="SDLRC Codified Law - Remote work--Requirements."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes?Statute="><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="s65d1d82ffd7a4e1cb592074642cf24e8Normal"><a href="https://sdlegislature.gov/Statutes?Statute=54-4-47.1" rel="noopener"><span class="s65d1d82ffd7a4e1cb592074642cf24e8SENU">54-4-47.1</span></a><span xml:space="preserve" class="s65d1d82ffd7a4e1cb592074642cf24e8SENU">. </span><span class="s65d1d82ffd7a4e1cb592074642cf24e8CL">Remote work--Requirements.</span></p><p dir="ltr" class="s65d1d82ffd7a4e1cb592074642cf24e8Statute"><span xml:space="preserve" class="s65d1d82ffd7a4e1cb592074642cf24e8DefaultParagraphFont">An employee of a licensee may work in a remote location other than the business location identified pursuant to § </span><a href="https://sdlegislature.gov/Statutes?Statute=54-4-40" rel="noopener"><span class="s65d1d82ffd7a4e1cb592074642cf24e8DefaultParagraphFont">54-4-40</span></a><span xml:space="preserve" class="s65d1d82ffd7a4e1cb592074642cf24e8DefaultParagraphFont"> or </span><a href="https://sdlegislature.gov/Statutes?Statute=54-4-47" rel="noopener"><span class="s65d1d82ffd7a4e1cb592074642cf24e8DefaultParagraphFont">54-4-47</span></a><span class="s65d1d82ffd7a4e1cb592074642cf24e8DefaultParagraphFont">, if the licensee:</span></p><p dir="ltr" class="s65d1d82ffd7a4e1cb592074642cf24e8StatuteNumber1"><span class="s65d1d82ffd7a4e1cb592074642cf24e8DefaultParagraphFont">(1)    Ensures in-person interactions with consumers are not conducted at the remote location and the remote location is not represented to consumers as a business location;</span></p><p dir="ltr" class="s65d1d82ffd7a4e1cb592074642cf24e8StatuteNumber1"><span class="s65d1d82ffd7a4e1cb592074642cf24e8DefaultParagraphFont">(2)    Maintains secure virtual private networks and other appropriate safeguards for licensee and consumer data, information, and records;</span></p><p dir="ltr" class="s65d1d82ffd7a4e1cb592074642cf24e8StatuteNumber1"><span class="s65d1d82ffd7a4e1cb592074642cf24e8DefaultParagraphFont">(3)    Employs appropriate risk-based monitoring and oversight processes of work performed from a remote location and maintains records of the processes;</span></p><p dir="ltr" class="s65d1d82ffd7a4e1cb592074642cf24e8StatuteNumber1"><span class="s65d1d82ffd7a4e1cb592074642cf24e8DefaultParagraphFont">(4)    Ensures consumer information and records are not maintained at the remote location;</span></p><p dir="ltr" class="s65d1d82ffd7a4e1cb592074642cf24e8StatuteNumber1"><span class="s65d1d82ffd7a4e1cb592074642cf24e8DefaultParagraphFont">(5)    Ensures consumer and licensee information and records remain accessible and available for regulatory oversight and examination; and</span></p><p dir="ltr" class="s65d1d82ffd7a4e1cb592074642cf24e8StatuteNumber1"><span class="s65d1d82ffd7a4e1cb592074642cf24e8DefaultParagraphFont">(6)    Provides appropriate employee training to keep all conversations about and with consumers conducted from the remote location confidential, as if conducted from the business location, and to ensure remote employees work in an environment that maintains confidentiality.</span></p><p dir="ltr" class="s65d1d82ffd7a4e1cb592074642cf24e8Normal"><span xml:space="preserve" class="s65d1d82ffd7a4e1cb592074642cf24e8000000"> </span></p><p dir="ltr" class="s65d1d82ffd7a4e1cb592074642cf24e8NoIndent"><span xml:space="preserve" class="s65d1d82ffd7a4e1cb592074642cf24e8DefaultParagraphFont-000001">Source: </span><span class="s65d1d82ffd7a4e1cb592074642cf24e8SCL">SL 2022, ch 179, § 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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072230Normal { 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.s2072230SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072230CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072230Normal-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.s2072230DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072230000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072230SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072230SCL-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="s2072230Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-4-48"><span class="s2072230SENU">54-4-48</span></a><span xml:space="preserve" class="s2072230SENU">. </span><span class="s2072230CL">Cease and desist order for practice not in conformity to requirements--Appeal.</span></p><p dir="ltr" class="s2072230Normal-000000"><span xml:space="preserve" class="s2072230DefaultParagraphFont">The director may issue a cease and desist order from any practice that does not conform to the requirements set forth in this chapter or any commission rule, order, or condition imposed in writing, or any federal statute, rule, or regulation pertaining to consumer credit. A cease and desist order may be issued to any licensee or to any person engaging in the business of lending money without a license. A licensee aggrieved by such order may appeal pursuant to chapters </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=1-26"><span class="s2072230DefaultParagraphFont">1-26</span></a><span xml:space="preserve" class="s2072230DefaultParagraphFont"> and </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=1-26D"><span class="s2072230DefaultParagraphFont">1-26D</span></a><span class="s2072230DefaultParagraphFont">.</span></p><p dir="ltr" class="s2072230Normal"><span xml:space="preserve" class="s2072230000001"> </span></p><p dir="ltr" class="s2072230Normal"><span class="s2072230SCL">Source:</span><span xml:space="preserve" class="s2072230SCL-000002"> SL 1998, ch 280, § 13; SL 2005, ch 258, § 5; SL 2006, ch 245, § 6.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072231Normal { 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.s2072231SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072231CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072231Normal-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.s2072231DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072231Normal-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.s2072231000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072231SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072231SCL-000003 { 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="s2072231Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-4-49"><span class="s2072231SENU">54-4-49</span></a><span xml:space="preserve" class="s2072231SENU">. </span><span class="s2072231CL">Conditions, denial, nonrenewal, suspension, or revocation of license.</span></p><p dir="ltr" class="s2072231Normal-000000"><span xml:space="preserve" class="s2072231DefaultParagraphFont">The director may condition, deny, decline to renew, suspend for a period not to exceed six months, or revoke a license for good cause pursuant to chapters </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=1-26"><span class="s2072231DefaultParagraphFont">1-26</span></a><span xml:space="preserve" class="s2072231DefaultParagraphFont"> and </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=1-26D"><span class="s2072231DefaultParagraphFont">1-26D</span></a><span class="s2072231DefaultParagraphFont">. If the licensee is the holder of more than one license, the director may condition, deny, decline to renew, suspend for a period not to exceed six months, or revoke any or all of the licenses. For purposes of this section, good cause includes any of the following:</span></p><p dir="ltr" class="s2072231Normal-000001"><span class="s2072231DefaultParagraphFont">(1)    Violation of any statute, rule, order, or written condition of the commission or any federal statute, rule, or regulation pertaining to consumer credit;</span></p><p dir="ltr" class="s2072231Normal-000001"><span xml:space="preserve" class="s2072231DefaultParagraphFont">(2)    Engaging in harassment or abuse, the making of false or misleading representations, or engaging in unfair practices involving lending activity; </span></p><p dir="ltr" class="s2072231Normal-000001"><span class="s2072231DefaultParagraphFont">(3)    Performing an act of commission or omission or practice that is a breach of trust or a breach of fiduciary duty;</span></p><p dir="ltr" class="s2072231Normal-000001"><span class="s2072231DefaultParagraphFont">(4)    Refusing to permit the director to make any examination authorized by this chapter or rule promulgated pursuant to this chapter, or any federal statute, rule, or regulation pertaining to money lending;</span></p><p dir="ltr" class="s2072231Normal-000001"><span class="s2072231DefaultParagraphFont">(5)    The licensee or any partner, officer, director, manager, or employee of the licensee has been convicted of a felony or a misdemeanor involving fraud, dishonesty, or breach of trust;</span></p><p dir="ltr" class="s2072231Normal-000001"><span class="s2072231DefaultParagraphFont">(6)    The licensee or any partner, officer, director, manager, or employee of the licensee has had a license substantially equivalent to a license under this chapter, and issued by another state or jurisdiction, denied, revoked, or suspended under the laws of that state or jurisdiction; or</span></p><p dir="ltr" class="s2072231Normal-000001"><span class="s2072231DefaultParagraphFont">(7)    The licensee has filed an application for a license which, as of the date the license was issued, or as of the date of an order denying, suspending, or revoking a license, was incomplete in any material respect or contained any statement that was, in light of the circumstances under which it was made, false or misleading with respect to any material fact.</span></p><p dir="ltr" class="s2072231Normal"><span xml:space="preserve" class="s2072231000002"> </span></p><p dir="ltr" class="s2072231Normal"><span class="s2072231SCL">Source:</span><span xml:space="preserve" class="s2072231SCL-000003"> SL 1998, ch 280, § 14; SL 2005, ch 258, § 6; SL 2015, ch 242, § 4.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072232Normal { 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.s2072232SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072232CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072232Normal-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.s2072232DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072232000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072232SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072232SCL-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="s2072232Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-4-50"><span class="s2072232SENU">54-4-50</span></a><span xml:space="preserve" class="s2072232SENU">. </span><span class="s2072232CL">Injunction against licensee for violation.</span></p><p dir="ltr" class="s2072232Normal-000000"><span class="s2072232DefaultParagraphFont">An action may be brought in circuit court by the attorney general or the division, or both, to enjoin a licensee from engaging in or continuing a violation or from doing any act in furtherance thereof.</span></p><p dir="ltr" class="s2072232Normal"><span xml:space="preserve" class="s2072232000001"> </span></p><p dir="ltr" class="s2072232Normal"><span class="s2072232SCL">Source:</span><span xml:space="preserve" class="s2072232SCL-000002"> SL 1998, ch 280, § 15; SL 2005, ch 258, § 7.</span></p><p dir="ltr" class="s2072232Normal"><span xml:space="preserve" class="s2072232000001"> </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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072233Normal { 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.s2072233SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072233CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072233Normal-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.s2072233DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072233000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072233SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072233SCL-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="s2072233Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-4-51"><span class="s2072233SENU">54-4-51</span></a><span xml:space="preserve" class="s2072233SENU">. </span><span class="s2072233CL">Court-appointed receivership.</span></p><p dir="ltr" class="s2072233Normal-000000"><span class="s2072233DefaultParagraphFont">In addition to any other means provided by law for the enforcement of a restraining order or injunction, the court, in which the action is brought, may impound, and appoint a receiver for, the property and business of the defendant, including books, papers, documents, and records, as the court may deem reasonably necessary to prevent violations of this chapter. The receiver, when so appointed and qualified, shall control the custody, collection, administration, and liquidation of the property and business.</span></p><p dir="ltr" class="s2072233Normal"><span xml:space="preserve" class="s2072233000001"> </span></p><p dir="ltr" class="s2072233Normal"><span class="s2072233SCL">Source:</span><span xml:space="preserve" class="s2072233SCL-000002"> SL 1998, ch 280, § 16; SL 2006, ch 245, § 7.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072234Normal { 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.s2072234SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072234CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072234Normal-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.s2072234DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072234000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072234SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072234SCL-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="s2072234Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-4-52"><span class="s2072234SENU">54-4-52</span></a><span xml:space="preserve" class="s2072234SENU">. </span><span class="s2072234CL">License required.</span></p><p dir="ltr" class="s2072234Normal-000000"><span class="s2072234DefaultParagraphFont">No person may engage in the business of lending money without a license. A violation of this section is a Class 1 misdemeanor.</span></p><p dir="ltr" class="s2072234Normal"><span xml:space="preserve" class="s2072234000001"> </span></p><p dir="ltr" class="s2072234Normal"><span class="s2072234SCL">Source:</span><span xml:space="preserve" class="s2072234SCL-000002"> SL 1998, ch 280, § 17.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072235Normal { 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.s2072235SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072235CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072235Normal-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.s2072235DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072235000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072235SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072235SCL-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="s2072235Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-4-53"><span class="s2072235SENU">54-4-53</span></a><span xml:space="preserve" class="s2072235SENU">. </span><span class="s2072235CL">Deposit of funds.</span></p><p dir="ltr" class="s2072235Normal-000000"><span class="s2072235DefaultParagraphFont">Any money received by the division pursuant to this chapter shall be deposited in the banking revolving fund.</span></p><p dir="ltr" class="s2072235Normal"><span xml:space="preserve" class="s2072235000001"> </span></p><p dir="ltr" class="s2072235Normal"><span class="s2072235SCL">Source:</span><span xml:space="preserve" class="s2072235SCL-000002"> SL 1998, ch 280, § 18; SL 2006, ch 245, § 8.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072236Normal { 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.s2072236SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072236CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072236Normal-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.s2072236DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072236000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072236SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072236SCL-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="s2072236Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-4-54"><span class="s2072236SENU">54-4-54</span></a><span xml:space="preserve" class="s2072236SENU">. </span><span class="s2072236CL">Payment of annual tax--Exemption.</span></p><p dir="ltr" class="s2072236Normal-000000"><span xml:space="preserve" class="s2072236DefaultParagraphFont">Each licensee, whether a corporation or otherwise, shall pay the annual tax provided in chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=10-43"><span class="s2072236DefaultParagraphFont">10-43</span></a><span xml:space="preserve" class="s2072236DefaultParagraphFont">, upon the net income of the licensee, and measured by the net income assignable to such business in South Dakota. The annual tax provided by this section may not be less than twenty-four dollars. The State of South Dakota, any political subdivision of the state, and any quasi-governmental organization created by an executive order of the State of South Dakota and any subsidiary of such organization; any nonprofit United States Treasury Community Development Financial Institution, Small Business Administration Certified Development Company, or Regional Revolving Loan Fund; or any commercial club, chamber of commerce, or industrial development corporation formed pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=9-12-11"><span class="s2072236DefaultParagraphFont">9-12-11</span></a><span xml:space="preserve" class="s2072236DefaultParagraphFont"> or </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=9-27-37"><span class="s2072236DefaultParagraphFont">9-27-37</span></a><span xml:space="preserve" class="s2072236DefaultParagraphFont"> is exempt from the payment of this tax.</span></p><p dir="ltr" class="s2072236Normal"><span xml:space="preserve" class="s2072236000001"> </span></p><p dir="ltr" class="s2072236Normal"><span class="s2072236SCL">Source:</span><span xml:space="preserve" class="s2072236SCL-000002"> SL 1998, ch 280, § 19; SL 2005, ch 257, § 3.</span></p><p dir="ltr" class="s2072236Normal"><span xml:space="preserve" class="s2072236000001"> </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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072237Normal { 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.s2072237SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072237CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072237Normal-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.s2072237DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072237000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072237SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072237SCL-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="s2072237Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-4-55"><span class="s2072237SENU">54-4-55</span></a><span xml:space="preserve" class="s2072237SENU">. </span><span class="s2072237CL">Exemption from other taxes.</span></p><p dir="ltr" class="s2072237Normal-000000"><span xml:space="preserve" class="s2072237DefaultParagraphFont">Except for taxes on real property and license fees and other fees imposed by this chapter, the tax imposed in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-4-54"><span class="s2072237DefaultParagraphFont">54-4-54</span></a><span xml:space="preserve" class="s2072237DefaultParagraphFont"> is in lieu of all other taxes and license fees, state, county, or local, upon the business of the licensee, or upon any money, credits, or other assets of the licensee whether tangible or intangible, and which money, credits, or other assets are used for or in connection with the conduct of business transacted in South Dakota. However, amounts determined to be in excess of business capital requirements are not exempt from other taxes.</span></p><p dir="ltr" class="s2072237Normal"><span xml:space="preserve" class="s2072237000001"> </span></p><p dir="ltr" class="s2072237Normal"><span class="s2072237SCL">Source:</span><span xml:space="preserve" class="s2072237SCL-000002"> SL 1998, ch 280, § 20; SL 2006, ch 245, § 9.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072238Normal { 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.s2072238SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072238CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072238Normal-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.s2072238DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072238000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072238SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072238SCL-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="s2072238Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-4-56"><span class="s2072238SENU">54-4-56</span></a><span xml:space="preserve" class="s2072238SENU">. </span><span class="s2072238CL">Renewal of application--Tax information--Forms.</span></p><p dir="ltr" class="s2072238Normal-000000"><span class="s2072238DefaultParagraphFont">Each licensee shall annually file with its renewal application a report of income and financial condition for the preceding license year or any other relevant information requested in writing by the director. These reports shall be under oath and on forms prescribed by the division by rule or order.</span></p><p dir="ltr" class="s2072238Normal"><span xml:space="preserve" class="s2072238000001"> </span></p><p dir="ltr" class="s2072238Normal"><span class="s2072238SCL">Source:</span><span xml:space="preserve" class="s2072238SCL-000002"> SL 1998, ch 280, § 21.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072239Normal { 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.s2072239SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072239CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072239Normal-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.s2072239DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072239000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072239SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072239SCL-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="s2072239Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-4-57"><span class="s2072239SENU">54-4-57</span></a><span xml:space="preserve" class="s2072239SENU">. </span><span class="s2072239CL">Examination of records--Costs--Information--Forms--Application of other provisions.</span></p><p dir="ltr" class="s2072239Normal-000000"><span xml:space="preserve" class="s2072239DefaultParagraphFont">The division may annually, or as often as the director considers necessary, conduct an examination of business records and accounts of any licensee licensed under this chapter. The director may charge back to the licensee any cost associated with an on-site examination. The director may waive an on-site examination and only require an annual self-examination. If a licensee conducts a self-examination, the licensee shall provide any information requested under oath and on forms provided by the division by order or rule. The provisions of § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=51A-2-35"><span class="s2072239DefaultParagraphFont">51A-2-35</span></a><span xml:space="preserve" class="s2072239DefaultParagraphFont"> apply to records and examination reports required under this chapter.</span></p><p dir="ltr" class="s2072239Normal"><span xml:space="preserve" class="s2072239000001"> </span></p><p dir="ltr" class="s2072239Normal"><span class="s2072239SCL">Source:</span><span xml:space="preserve" class="s2072239SCL-000002"> SL 1998, ch 280, § 22; SL 2005, ch 258, § 8; SL 2006, ch 245, § 10.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072240Normal { 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.s2072240SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072240CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072240Normal-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.s2072240DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072240Normal-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; } p.s2072240Normal-000002 { text-indent: 0.25in; 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.s2072240000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072240SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072240SCL-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="s2072240Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-4-58"><span class="s2072240SENU">54-4-58</span></a><span xml:space="preserve" class="s2072240SENU">. </span><span class="s2072240CL">Information required in contract.</span></p><p dir="ltr" class="s2072240Normal-000000"><span class="s2072240DefaultParagraphFont">The licensee shall disclose in any loan contract the following:</span></p><p dir="ltr" class="s2072240Normal-000001"><span class="s2072240DefaultParagraphFont">(1)    The amount and date of the loan;</span></p><p dir="ltr" class="s2072240Normal-000001"><span class="s2072240DefaultParagraphFont">(2)    The amount of the down payment, if any;</span></p><p dir="ltr" class="s2072240Normal-000001"><span class="s2072240DefaultParagraphFont">(3)    The dates any payments are due and the amount of payments;</span></p><p dir="ltr" class="s2072240Normal-000001"><span class="s2072240DefaultParagraphFont">(4)    A list of any property used to secure the loan;</span></p><p dir="ltr" class="s2072240Normal-000001"><span class="s2072240DefaultParagraphFont">(5)    Any liens or title filings required;</span></p><p dir="ltr" class="s2072240Normal-000001"><span class="s2072240DefaultParagraphFont">(6)    The method used to compute the charges;</span></p><p dir="ltr" class="s2072240Normal-000001"><span class="s2072240DefaultParagraphFont">(7)    An explanation of any fee or charge, including the cost of the loan as an annual percentage rate (APR);</span></p><p dir="ltr" class="s2072240Normal-000001"><span class="s2072240DefaultParagraphFont">(8)    Any fee or charge that may be applied for delinquency;</span></p><p dir="ltr" class="s2072240Normal-000001"><span class="s2072240DefaultParagraphFont">(9)    The conditions for an extension of payment or maturity of the loan;</span></p><p dir="ltr" class="s2072240Normal-000001"><span class="s2072240DefaultParagraphFont">(10)    Refinancing requirements, including any fee or charge; and</span></p><p dir="ltr" class="s2072240Normal-000001"><span class="s2072240DefaultParagraphFont">(11)    The address and telephone number of the Division of Banking and that any improprieties in making the loan or in loan practices may be referred to the division.</span></p><p dir="ltr" class="s2072240Normal-000002"><span class="s2072240DefaultParagraphFont">The licensee shall provide a copy of the loan contract to the debtor. A violation of this section is a Class 2 misdemeanor.</span></p><p dir="ltr" class="s2072240Normal"><span xml:space="preserve" class="s2072240000003"> </span></p><p dir="ltr" class="s2072240Normal"><span class="s2072240SCL">Source:</span><span xml:space="preserve" class="s2072240SCL-000004"> SL 1998, ch 280, § 23; SL 2006, ch 245, § 2.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072241Normal { 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.s2072241SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072241CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072241Normal-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.s2072241DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072241000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072241SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072241SCL-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="s2072241Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-4-59"><span class="s2072241SENU">54-4-59</span></a><span xml:space="preserve" class="s2072241SENU">. </span><span class="s2072241CL">Property insurance required.</span></p><p dir="ltr" class="s2072241Normal-000000"><span class="s2072241DefaultParagraphFont">A creditor may require property insurance on any loan secured by tangible property. The amount of insurance required shall be reasonable and appropriate considering the nature of the property, the amount of the loan, the maturity of the loan, and any other circumstances. The insurance policy shall show the creditor as the loss payee, unless waived by the creditor.</span></p><p dir="ltr" class="s2072241Normal"><span xml:space="preserve" class="s2072241000001"> </span></p><p dir="ltr" class="s2072241Normal"><span class="s2072241SCL">Source:</span><span xml:space="preserve" class="s2072241SCL-000002"> SL 1998, ch 280, § 24.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072242Normal { 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.s2072242SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072242CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072242Normal-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.s2072242DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072242000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072242SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072242SCL-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="s2072242Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-4-60"><span class="s2072242SENU">54-4-60</span></a><span xml:space="preserve" class="s2072242SENU">. </span><span class="s2072242CL">Purchase of insurance not condition to receive loan.</span></p><p dir="ltr" class="s2072242Normal-000000"><span class="s2072242DefaultParagraphFont">A licensee may sell insurance to anyone with whom the licensee has a lending relationship. However, the licensee may not require the debtor to purchase the insurance from the licensee or any affiliate as a condition of the loan. The licensee may not require a borrower to purchase credit life insurance or any other life or health insurance as a condition of receiving the loan or as additional security.</span></p><p dir="ltr" class="s2072242Normal"><span xml:space="preserve" class="s2072242000001"> </span></p><p dir="ltr" class="s2072242Normal"><span class="s2072242SCL">Source:</span><span xml:space="preserve" class="s2072242SCL-000002"> SL 1998, ch 280, § 25.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072243Normal { 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.s2072243SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072243CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072243Normal-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.s2072243DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072243000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072243SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072243SCL-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="s2072243Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-4-61"><span class="s2072243SENU">54-4-61</span></a><span xml:space="preserve" class="s2072243SENU">. </span><span class="s2072243CL">Copy provided to debtor.</span></p><p dir="ltr" class="s2072243Normal-000000"><span class="s2072243DefaultParagraphFont">The debtor may request a copy of any transaction pertaining to the debtor's installment loan contract. The licensee shall provide such copies upon request.</span></p><p dir="ltr" class="s2072243Normal"><span xml:space="preserve" class="s2072243000001"> </span></p><p dir="ltr" class="s2072243Normal"><span class="s2072243SCL">Source:</span><span xml:space="preserve" class="s2072243SCL-000002"> SL 1998, ch 280, § 26.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072244Normal { 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.s2072244SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072244CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072244Normal-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.s2072244DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072244000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072244SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072244SCL-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="s2072244Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-4-62"><span class="s2072244SENU">54-4-62</span></a><span xml:space="preserve" class="s2072244SENU">. </span><span class="s2072244CL">Satisfaction of loan--Release of assignments.</span></p><p dir="ltr" class="s2072244Normal-000000"><span class="s2072244DefaultParagraphFont">When the payment of a loan is satisfied, the licensee shall release any liens against any property used as security, cancel any note, and release all assignments associated with the contract. The licensee shall send the note stamped paid in full and release any liens or assignments to the debtor within sixty days of receiving payment in full.</span></p><p dir="ltr" class="s2072244Normal"><span xml:space="preserve" class="s2072244000001"> </span></p><p dir="ltr" class="s2072244Normal"><span class="s2072244SCL">Source:</span><span xml:space="preserve" class="s2072244SCL-000002"> SL 1998, ch 280, § 27.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072245Normal { 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.s2072245SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072245CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072245Normal-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.s2072245DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072245000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072245SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072245SCL-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="s2072245Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-4-63"><span class="s2072245SENU">54-4-63</span></a><span xml:space="preserve" class="s2072245SENU">. </span><span class="s2072245CL">Advertising.</span></p><p dir="ltr" class="s2072245Normal-000000"><span class="s2072245DefaultParagraphFont">Any licensee may advertise in any medium. No licensee may advertise any statement or representation, including rates, terms, or conditions for making or negotiating loans that is false, misleading, or deceptive, or that refers to the supervision of business by the state.</span></p><p dir="ltr" class="s2072245Normal"><span xml:space="preserve" class="s2072245000001"> </span></p><p dir="ltr" class="s2072245Normal"><span class="s2072245SCL">Source:</span><span xml:space="preserve" class="s2072245SCL-000002"> SL 1998, ch 280, § 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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072246Normal { 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.s2072246SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072246CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072246Normal-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.s2072246DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072246000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072246SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072246SCL-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="s2072246Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-4-64"><span class="s2072246SENU">54-4-64</span></a><span xml:space="preserve" class="s2072246SENU">. </span><span class="s2072246CL">Application of chapter.</span></p><p dir="ltr" class="s2072246Normal-000000"><span class="s2072246DefaultParagraphFont">The provisions of this chapter do not apply to any person selling goods or services and providing financing for such goods or services.</span></p><p dir="ltr" class="s2072246Normal"><span xml:space="preserve" class="s2072246000001"> </span></p><p dir="ltr" class="s2072246Normal"><span class="s2072246SCL">Source:</span><span xml:space="preserve" class="s2072246SCL-000002"> SL 1998, ch 280, § 35; SL 2006, ch 245, § 11.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072247Normal { 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.s2072247SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072247CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072247Normal-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.s2072247DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072247000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072247SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072247SCL-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="s2072247Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-4-65"><span class="s2072247SENU">54-4-65</span></a><span xml:space="preserve" class="s2072247SENU">. </span><span class="s2072247CL">Limitation on renewal, rollover, or flip of short-term consumer loan--Fee.</span></p><p dir="ltr" class="s2072247Normal-000000"><span class="s2072247DefaultParagraphFont">No licensee may renew, rollover, or flip a short- term consumer loan more than four times. No renewal, rollover, or flip is valid unless, at the time of the renewal, rollover, or flip, the debtor pays the outstanding fee and reduces the principal amount of the loan as provided in this section. Upon the first renewal, rollover, or flip and each subsequent renewal, rollover, or flip, the debtor shall reduce the principal amount of the loan by not less than ten percent of the original amount of the loan.</span></p><p dir="ltr" class="s2072247Normal"><span xml:space="preserve" class="s2072247000001"> </span></p><p dir="ltr" class="s2072247Normal"><span class="s2072247SCL">Source:</span><span xml:space="preserve" class="s2072247SCL-000002"> SL 2002, ch 223, § 1; SL 2004, ch 291, § 2; SL 2006, ch 245, § 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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072248Normal { 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.s2072248SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072248CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072248Normal-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.s2072248DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072248000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072248SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072248SCL-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="s2072248Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-4-66"><span class="s2072248SENU">54-4-66</span></a><span xml:space="preserve" class="s2072248SENU">. </span><span class="s2072248CL">Maximum amount of payday loan--Violation as misdemeanor.</span></p><p dir="ltr" class="s2072248Normal-000000"><span class="s2072248DefaultParagraphFont">The maximum principal amount of any payday loan, or the total outstanding principal balances of all payday loans made by a licensee to a single borrower, may not exceed five hundred dollars at any time. A violation of this section is a Class 1 misdemeanor.</span></p><p dir="ltr" class="s2072248Normal"><span xml:space="preserve" class="s2072248000001"> </span></p><p dir="ltr" class="s2072248Normal"><span class="s2072248SCL">Source:</span><span xml:space="preserve" class="s2072248SCL-000002"> SL 2002, ch 223, § 2; SL 2004, ch 291, § 3; SL 2007, ch 278, § 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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072249Normal { 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.s2072249SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072249CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072249Normal-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.s2072249DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072249000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072249SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072249SCL-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="s2072249Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-4-67"><span class="s2072249SENU">54-4-67</span></a><span xml:space="preserve" class="s2072249SENU">. </span><span class="s2072249CL">Production of records located outside state--Alternate procedures--Designated record inspectors.</span></p><p dir="ltr" class="s2072249Normal-000000"><span class="s2072249DefaultParagraphFont">If the division requires the production of records that are located outside this state, the party shall either make them available to the division at a convenient location within this state or pay the reasonable and necessary expenses for the division to examine them at the place where they are maintained. The director may designate representatives, including officials of the state in which the records are located, to inspect them on the director's behalf.</span></p><p dir="ltr" class="s2072249Normal"><span xml:space="preserve" class="s2072249000001"> </span></p><p dir="ltr" class="s2072249Normal"><span class="s2072249SCL">Source:</span><span xml:space="preserve" class="s2072249SCL-000002"> SL 2005, ch 258, § 9.</span></p><p dir="ltr" class="s2072249Normal"><span xml:space="preserve" class="s2072249000001"> </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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072250Normal { 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.s2072250SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072250CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072250Normal-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.s2072250DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072250000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072250SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072250SCL-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="s2072250Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-4-68"><span class="s2072250SENU">54-4-68</span></a><span xml:space="preserve" class="s2072250SENU">. </span><span class="s2072250CL">Appointment of resident agent for service of process--Notice.</span></p><p dir="ltr" class="s2072250Normal-000000"><span xml:space="preserve" class="s2072250DefaultParagraphFont">A person licensed pursuant to chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-4"><span class="s2072250DefaultParagraphFont">54-4</span></a><span xml:space="preserve" class="s2072250DefaultParagraphFont"> shall appoint a resident agent for service of process and provide notice of such appointment to the director.</span></p><p dir="ltr" class="s2072250Normal"><span xml:space="preserve" class="s2072250000001"> </span></p><p dir="ltr" class="s2072250Normal"><span class="s2072250SCL">Source:</span><span xml:space="preserve" class="s2072250SCL-000002"> SL 2005, ch 258, § 10.</span></p><p dir="ltr" class="s2072250Normal"><span xml:space="preserve" class="s2072250000001"> </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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072251Normal { 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.s2072251SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072251CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072251Normal-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.s2072251DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072251000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072251SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072251SCL-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="s2072251Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-4-69"><span class="s2072251SENU">54-4-69</span></a><span xml:space="preserve" class="s2072251SENU">. </span><span class="s2072251CL">Consent to be sued--Form.</span></p><p dir="ltr" class="s2072251Normal-000000"><span xml:space="preserve" class="s2072251DefaultParagraphFont">A person licensed pursuant to chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-4"><span class="s2072251DefaultParagraphFont">54-4</span></a><span xml:space="preserve" class="s2072251DefaultParagraphFont"> shall consent to be sued in the circuit courts of the state for purposes of the director enforcing any provision of chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-4"><span class="s2072251DefaultParagraphFont">54-4</span></a><span xml:space="preserve" class="s2072251DefaultParagraphFont"> and any rules promulgated pursuant to chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-4"><span class="s2072251DefaultParagraphFont">54-4</span></a><span class="s2072251DefaultParagraphFont">. The consent to suit shall be demonstrated by the execution and submission of a consent to suit form prepared by the director, with proof of authority to consent and execute the form.</span></p><p dir="ltr" class="s2072251Normal"><span xml:space="preserve" class="s2072251000001"> </span></p><p dir="ltr" class="s2072251Normal"><span class="s2072251SCL">Source:</span><span xml:space="preserve" class="s2072251SCL-000002"> SL 2005, ch 258, § 11.</span></p><p dir="ltr" class="s2072251Normal"><span xml:space="preserve" class="s2072251000001"> </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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072252Normal { 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.s2072252SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072252CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072252Normal-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.s2072252DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072252000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072252SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072252SCL-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="s2072252Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-4-70"><span class="s2072252SENU">54-4-70</span></a><span xml:space="preserve" class="s2072252SENU">. </span><span class="s2072252CL">Title loans to be evidenced by written agreement--Possession of certification of title--Application of statutes on secured transactions.</span></p><p dir="ltr" class="s2072252Normal-000000"><span xml:space="preserve" class="s2072252DefaultParagraphFont">A title loan shall be evidenced by a written agreement in which a title lender agrees to make a title loan to a debtor and the debtor agrees to give the title lender a security interest in a motor vehicle owned by the debtor. The debtor shall give the title lender possession of the certificate of title to such motor vehicle. Except as otherwise provided in this chapter, the provisions of chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=57A-9"><span class="s2072252DefaultParagraphFont">57A-9</span></a><span xml:space="preserve" class="s2072252DefaultParagraphFont"> apply to title loans and to persons engaged in the business of making title loans.</span></p><p dir="ltr" class="s2072252Normal"><span xml:space="preserve" class="s2072252000001"> </span></p><p dir="ltr" class="s2072252Normal"><span class="s2072252SCL">Source:</span><span xml:space="preserve" class="s2072252SCL-000002"> SL 2006, ch 245, § 12.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072253Normal { 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.s2072253SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072253CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072253Normal-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.s2072253DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072253000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072253SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072253SCL-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="s2072253Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-4-71"><span class="s2072253SENU">54-4-71</span></a><span xml:space="preserve" class="s2072253SENU">. </span><span class="s2072253CL">Term of title loan--Renewal--Payment amounts--Deferred principal amount.</span></p><p dir="ltr" class="s2072253Normal-000000"><span class="s2072253DefaultParagraphFont">Any title loan shall be for an initial term of no more than one month but may be renewed for additional one-month periods. No title loan may be renewed more than four times except as provided in this section. Upon the fifth renewal of a title loan, and through the eighth renewal, the debtor shall make payment of at least ten percent of the original principal amount of the title loan, in addition to any finance charges that are due. If at any renewal requiring a principal reduction, the debtor has not made previous principal reductions adequate to satisfy the current required principal reduction, and the debtor does not pay at least ten percent of the original loan amount, the title lender may either declare the debtor in default or renew the title loan and defer the required principal payment for an additional period. However, no further finance charges may accrue or be earned against the principal amount so deferred. For purposes of this section, a renewal is any extension or continuation of a title loan for an additional period without any change to the title loan or its terms other than a reduction in principal. After the eighth renewal the title loan is due in full and no further finance charges or fees may accrue or be earned.</span></p><p dir="ltr" class="s2072253Normal"><span xml:space="preserve" class="s2072253000001"> </span></p><p dir="ltr" class="s2072253Normal"><span class="s2072253SCL">Source:</span><span xml:space="preserve" class="s2072253SCL-000002"> SL 2006, ch 245, § 13.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072254Normal { 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.s2072254SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072254CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072254Normal-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.s2072254DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072254Normal-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.s2072254000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072254SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072254SCL-000003 { 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="s2072254Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-4-72"><span class="s2072254SENU">54-4-72</span></a><span xml:space="preserve" class="s2072254SENU">. </span><span class="s2072254CL">Default in repayment of title loan--Remedy--Exception--Sale of reposed vehicle--Refund of surplus less expenses.</span></p><p dir="ltr" class="s2072254Normal-000000"><span class="s2072254DefaultParagraphFont">If a debtor defaults in the repayment of a title loan, the title lender's sole remedy is to seek possession and sale of the motor vehicle securing the loan, and the title lender may not pursue the debtor personally in any action or proceeding for repayment of the loan or for any deficiency after the sale. The title lender shall return to the debtor any surplus obtained after the sale that is in excess of the amount owed on the loan after any reasonable expenses of repossession, storage, and sale, including court costs and attorney's fees have been deducted. The remedy limitation provided in this section does not apply in the following circumstances:</span></p><p dir="ltr" class="s2072254Normal-000001"><span class="s2072254DefaultParagraphFont">(1)    If a debtor obtains a title loan from a title lender under false pretenses by not disclosing the existence of a valid prior lien or security interest affecting the motor vehicle; or</span></p><p dir="ltr" class="s2072254Normal-000001"><span class="s2072254DefaultParagraphFont">(2)    If the debtor intentionally conceals, impairs, or destroys the collateral.</span></p><p dir="ltr" class="s2072254Normal"><span xml:space="preserve" class="s2072254000002"> </span></p><p dir="ltr" class="s2072254Normal"><span class="s2072254SCL">Source:</span><span xml:space="preserve" class="s2072254SCL-000003"> SL 2006, ch 245, § 14.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072255Normal { 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.s2072255SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072255CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072255Normal-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.s2072255DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072255000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072255SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072255SCL-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="s2072255Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-4-73"><span class="s2072255SENU">54-4-73</span></a><span xml:space="preserve" class="s2072255SENU">. </span><span class="s2072255CL">Debt cancellation contract defined.</span></p><p dir="ltr" class="s2072255Normal-000000"><span class="s2072255DefaultParagraphFont">For the purposes of this chapter, the term, debt cancellation contract, means a term of an extension of credit or contractual arrangement modifying terms of an extension of credit under which a licensee agrees to cancel all or part of a customer's obligation to repay an extension of credit from the licensee upon the occurrence of a specified event. The contract may be separate from or a part of other extension of credit documents. The term does not include installment payment deferral arrangements in which the triggering event is the customer's unilateral election to defer repayment, or the licensee's unilateral decision to allow a deferral of repayment.</span></p><p dir="ltr" class="s2072255Normal"><span xml:space="preserve" class="s2072255000001"> </span></p><p dir="ltr" class="s2072255Normal"><span class="s2072255SCL">Source:</span><span xml:space="preserve" class="s2072255SCL-000002"> SL 2012, ch 235, § 2.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072256Normal { 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.s2072256SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072256CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072256Normal-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.s2072256DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072256000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072256SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072256SCL-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="s2072256Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-4-74"><span class="s2072256SENU">54-4-74</span></a><span xml:space="preserve" class="s2072256SENU">. </span><span class="s2072256CL">Debt suspension contract defined.</span></p><p dir="ltr" class="s2072256Normal-000000"><span class="s2072256DefaultParagraphFont">For the purposes of this chapter, the term, debt suspension contract, means a term of an extension of credit or contractual arrangement modifying terms of an extension of credit under which a licensee agrees to suspend all or part of a customer's obligation to repay an extension of credit from the licensee upon the occurrence of a specified event. The contract may be separate from or a part of other extension of credit documents. The term does not include installment payment deferral arrangements in which the triggering event is the customer's unilateral election to defer repayment, or the licensee's unilateral decision to allow a deferral of repayment.</span></p><p dir="ltr" class="s2072256Normal"><span xml:space="preserve" class="s2072256000001"> </span></p><p dir="ltr" class="s2072256Normal"><span class="s2072256SCL">Source:</span><span xml:space="preserve" class="s2072256SCL-000002"> SL 2012, ch 235, § 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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072257Normal { 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.s2072257SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072257CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072257Normal-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.s2072257DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072257000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072257SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072257SCL-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="s2072257Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-4-75"><span class="s2072257SENU">54-4-75</span></a><span xml:space="preserve" class="s2072257SENU">. </span><span class="s2072257CL">Debt cancellation contracts and debt suspension contracts permitted.</span></p><p dir="ltr" class="s2072257Normal-000000"><span class="s2072257DefaultParagraphFont">A licensee pursuant to this chapter may enter into debt cancellation contracts and debt suspension contracts and charge a fee for those contracts in connection with any extension of credit that it makes, purchases, or of which it accepts assignment.</span></p><p dir="ltr" class="s2072257Normal"><span xml:space="preserve" class="s2072257000001"> </span></p><p dir="ltr" class="s2072257Normal"><span class="s2072257SCL">Source:</span><span xml:space="preserve" class="s2072257SCL-000002"> SL 2012, ch 235, § 4.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072258Normal { 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.s2072258SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072258CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072258Normal-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.s2072258DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072258000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072258SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072258SCL-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="s2072258Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-4-76"><span class="s2072258SENU">54-4-76</span></a><span xml:space="preserve" class="s2072258SENU">. </span><span class="s2072258CL">Loans by unlicensed lenders uncollectible except for principal.</span></p><p dir="ltr" class="s2072258Normal-000000"><span class="s2072258DefaultParagraphFont">Any loan made in South Dakota after June 30, 2015, to a resident of South Dakota, by an entity organized to engage in the business of lending money not licensed or exempt from licensure pursuant to this chapter is unenforceable and uncollectible except as to any principal extended by the entity to the borrower.</span></p><p dir="ltr" class="s2072258Normal"><span xml:space="preserve" class="s2072258000001"> </span></p><p dir="ltr" class="s2072258Normal"><span class="s2072258SCL">Source:</span><span xml:space="preserve" class="s2072258SCL-000002"> SL 2015, ch 242, § 5.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2080150Normal { 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.s2080150SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2080150CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2080150Statute { 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.s2080150DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2080150StatuteNumber1 { 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; } p.s2080150StatuteNumber2 { margin-left: 1.14in; text-indent: -0.44in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } a.s2080150000000 { text-decoration: none; } span.s2080150000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2080150DefaultParagraphFont-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2080150SCL { 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="s2080150Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-4-77"><span class="s2080150SENU">54-4-77</span></a><span xml:space="preserve" class="s2080150SENU">. </span><span class="s2080150CL">Debt collection--Prohibitions.</span></p><p dir="ltr" class="s2080150Statute"><span class="s2080150DefaultParagraphFont">No person employed by a licensee to collect or attempt to collect any debt owed or due or asserted to be owed or due may:</span></p><p dir="ltr" class="s2080150StatuteNumber1"><span class="s2080150DefaultParagraphFont">(1)    Harass, oppress, or abuse a borrower by:</span></p><p dir="ltr" class="s2080150StatuteNumber2"><span class="s2080150DefaultParagraphFont">(a)    Using any threat of violence or harm;</span></p><p dir="ltr" class="s2080150StatuteNumber2"><a id="_pagenumber4" class="s2080150000000"></a><span class="s2080150DefaultParagraphFont">(b)    Publishing a list of names of borrowers who refuse to pay their debts absent providing such information to credit reporting companies;</span></p><p dir="ltr" class="s2080150StatuteNumber2"><span class="s2080150DefaultParagraphFont">(c)    Using obscene or profane language; or</span></p><p dir="ltr" class="s2080150StatuteNumber2"><span class="s2080150DefaultParagraphFont">(d)    Repeatedly using the phone with the intent to annoy borrowers;</span></p><p dir="ltr" class="s2080150StatuteNumber1"><span class="s2080150DefaultParagraphFont">(2)    Use any false statement when attempting to collect a debt by falsely:</span></p><p dir="ltr" class="s2080150StatuteNumber2"><span class="s2080150DefaultParagraphFont">(a)    Claiming to be an attorney or government representative;</span></p><p dir="ltr" class="s2080150StatuteNumber2"><span class="s2080150DefaultParagraphFont">(b)    Claiming that the borrower has committed a crime;</span></p><p dir="ltr" class="s2080150StatuteNumber2"><span class="s2080150DefaultParagraphFont">(c)    Representing that the licensee operates or any person employed by the licensee works for a credit reporting company;</span></p><p dir="ltr" class="s2080150StatuteNumber2"><span class="s2080150DefaultParagraphFont">(d)    Representing the amount the borrower owes;</span></p><p dir="ltr" class="s2080150StatuteNumber2"><span class="s2080150DefaultParagraphFont">(e)    Representing the nature and character of any forms sent to the borrower in order to collect a debt;</span></p><p dir="ltr" class="s2080150StatuteNumber2"><span class="s2080150DefaultParagraphFont">(f)    Indicating that the borrower will be arrested if the debt isn't paid;</span></p><p dir="ltr" class="s2080150StatuteNumber2"><span class="s2080150DefaultParagraphFont">(g)    Using a company name;</span></p><p dir="ltr" class="s2080150StatuteNumber2"><span class="s2080150DefaultParagraphFont">(h)    Indicating that the licensee will seize, garnish, attach, or sell a borrower's property or wages unless the licensee is permitted by law to take the action and the licensee intends to do so;</span></p><p dir="ltr" class="s2080150StatuteNumber2"><span class="s2080150DefaultParagraphFont">(i)    Indicating that legal action will be taken against the borrower, if doing so would be illegal or if the licensee does not intend to take the action;</span></p><p dir="ltr" class="s2080150StatuteNumber1"><span class="s2080150DefaultParagraphFont">(3)    Give false credit information about the borrower to anyone, including a credit reporting company;</span></p><p dir="ltr" class="s2080150StatuteNumber1"><span class="s2080150DefaultParagraphFont">(4)    Attempt to collect any interest, fee, or other charge on top of the amount a borrower owes unless the contract that created the debt or state law allows the charge;</span></p><p dir="ltr" class="s2080150StatuteNumber1"><span class="s2080150DefaultParagraphFont">(5)    Deposit a post-dated check early;</span></p><p dir="ltr" class="s2080150StatuteNumber1"><span class="s2080150DefaultParagraphFont">(6)    Take or threaten to take the borrower's property unless it can be done legally; or</span></p><p dir="ltr" class="s2080150StatuteNumber1"><span class="s2080150DefaultParagraphFont">(7)    Cause misleading information to be transmitted to users of caller identification technologies or otherwise block or misrepresent the identity of the caller or entity as described in subdivision 37-24-6 (16).</span></p><p dir="ltr" class="s2080150Normal"><span xml:space="preserve" class="s2080150000001"> </span></p><p dir="ltr" class="s2080150Normal"><span xml:space="preserve" class="s2080150DefaultParagraphFont-000002">Source: </span><span class="s2080150SCL">SL 2015, ch 242, § 6; SL 2020, ch 171, § 5.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072260Normal { 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.s2072260SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072260CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072260Normal-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.s2072260DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072260000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072260SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072260SCL-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="s2072260Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-4-77.1"><span class="s2072260SENU">54-4-77.1</span></a><span xml:space="preserve" class="s2072260SENU">. </span><span class="s2072260CL">Exemptions not applicable to prohibited debt-collection tactics.</span></p><p dir="ltr" class="s2072260Normal-000000"><span xml:space="preserve" class="s2072260DefaultParagraphFont">The exemptions under this chapter do not apply to any debt-collection tactic prohibited in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-4-77"><span class="s2072260DefaultParagraphFont">54-4-77</span></a><span class="s2072260DefaultParagraphFont">.</span></p><p dir="ltr" class="s2072260Normal"><span xml:space="preserve" class="s2072260000001"> </span></p><p dir="ltr" class="s2072260Normal"><span class="s2072260SCL">Source:</span><span xml:space="preserve" class="s2072260SCL-000002"> SL 2017, ch 207, § 4.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072261Normal { 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.s2072261SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072261CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072261Normal-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.s2072261DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072261000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072261SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072261SCL-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="s2072261Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-4-78"><span class="s2072261SENU">54-4-78</span></a><span xml:space="preserve" class="s2072261SENU">. </span><span class="s2072261CL">Use of nationwide mortgage licensing system and registry for requesting and distributing information.</span></p><p dir="ltr" class="s2072261Normal-000000"><span class="s2072261DefaultParagraphFont">The director may use the nationwide mortgage licensing system and registry as a channeling agent for requesting and distributing information to and from other state and federal regulatory officials or agencies with money lending industry oversight authority, as deemed necessary by the director to carry out the responsibilities of this chapter.</span></p><p dir="ltr" class="s2072261Normal"><span xml:space="preserve" class="s2072261000001"> </span></p><p dir="ltr" class="s2072261Normal"><span class="s2072261SCL">Source:</span><span xml:space="preserve" class="s2072261SCL-000002"> SL 2015, ch 242, § 7.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072262Normal { 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.s2072262SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072262CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072262Normal-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.s2072262DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072262000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072262SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072262SCL-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="s2072262Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-4-79"><span class="s2072262SENU">54-4-79</span></a><span xml:space="preserve" class="s2072262SENU">. </span><span class="s2072262CL">Contracts for collection and maintenance of records and processing of fees.</span></p><p dir="ltr" class="s2072262Normal-000000"><span class="s2072262DefaultParagraphFont">The director may establish relationships or contracts with the nationwide mortgage licensing system and registry or other entity designated by the nationwide mortgage licensing system and registry to collect and maintain records and process a transaction fee or other fee related to any licensee or other person subject to the provisions of this chapter.</span></p><p dir="ltr" class="s2072262Normal"><span xml:space="preserve" class="s2072262000001"> </span></p><p dir="ltr" class="s2072262Normal"><span class="s2072262SCL">Source:</span><span xml:space="preserve" class="s2072262SCL-000002"> SL 2015, ch 242, § 8.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072263Normal { 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.s2072263SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072263CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072263Normal-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.s2072263DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072263Normal-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; } p.s2072263Normal-000002 { margin-left: 1.14in; text-indent: -0.44in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } p.s2072263Normal-000003 { text-indent: 0.25in; 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.s2072263000004 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072263SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072263SCL-000005 { 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="s2072263Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-4-80"><span class="s2072263SENU">54-4-80</span></a><span xml:space="preserve" class="s2072263SENU">. </span><span class="s2072263CL">Sharing of information collected by director.</span></p><p dir="ltr" class="s2072263Normal-000000"><span class="s2072263DefaultParagraphFont">The following provisions apply to the sharing of information collected and retained by the director during the administration of this chapter:</span></p><p dir="ltr" class="s2072263Normal-000001"><span xml:space="preserve" class="s2072263DefaultParagraphFont">(1)    The provisions of § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=51A-2-35"><span class="s2072263DefaultParagraphFont">51A-2-35</span></a><span xml:space="preserve" class="s2072263DefaultParagraphFont"> regarding privacy or confidentiality apply to any information or material provided to the nationwide mortgage licensing system and registry, and any privilege arising under federal or state law, including a rule of any federal or state court, with respect to the information or material, continue to apply to the information or material after the information or material has been disclosed to the nationwide mortgage licensing system and registry. The information and material may be shared with all state and federal regulatory officials with money lending industry oversight authority without the loss of privilege or the loss of confidentiality protections pursuant to the provisions of federal law or § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=51A-2-35"><span class="s2072263DefaultParagraphFont">51A-2-35</span></a><span class="s2072263DefaultParagraphFont">;</span></p><p dir="ltr" class="s2072263Normal-000001"><span class="s2072263DefaultParagraphFont">(2)    No information or material that is subject to a privilege or confidentiality pursuant to this section is subject to:</span></p><p dir="ltr" class="s2072263Normal-000002"><span class="s2072263DefaultParagraphFont">(a)    Disclosure under any federal or state law governing the disclosure to the public of information held by an officer or an agency of the federal government or the respective state; or</span></p><p dir="ltr" class="s2072263Normal-000002"><span class="s2072263DefaultParagraphFont">(b)    Subpoena or discovery, or admission into evidence, in any private civil action or administrative process, unless with respect to any privilege held by the nationwide mortgage licensing system and registry regarding the information or material is waived, in whole or in part, by the person to whom the information or material pertains.</span></p><p dir="ltr" class="s2072263Normal-000003"><span class="s2072263DefaultParagraphFont">This section does not apply with respect to the information or material relating to the employment history of, and publicly adjudicated disciplinary and enforcement actions against, any licensee that is included in the nationwide mortgage licensing system and registry for access by the public.</span></p><p dir="ltr" class="s2072263Normal"><span xml:space="preserve" class="s2072263000004"> </span></p><p dir="ltr" class="s2072263Normal"><span class="s2072263SCL">Source:</span><span xml:space="preserve" class="s2072263SCL-000005"> SL 2015, ch 242, § 9.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072264Normal { 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.s2072264SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072264CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072264Normal-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.s2072264DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072264000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072264SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072264SCL-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="s2072264Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-4-81"><span class="s2072264SENU">54-4-81</span></a><span xml:space="preserve" class="s2072264SENU">. </span><span class="s2072264CL">Attorney's fees recoverable if provided for in evidence of debt.</span></p><p dir="ltr" class="s2072264Normal-000000"><span xml:space="preserve" class="s2072264DefaultParagraphFont">Notwithstanding § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=15-17-39"><span class="s2072264DefaultParagraphFont">15-17-39</span></a><span class="s2072264DefaultParagraphFont">, any person licensed pursuant to this chapter may recover reasonable attorney's fees in the case of default of payment if provided for in a note, bond, or other evidence of debt.</span></p><p dir="ltr" class="s2072264Normal"><span xml:space="preserve" class="s2072264000001"> </span></p><p dir="ltr" class="s2072264Normal"><span class="s2072264SCL">Source:</span><span xml:space="preserve" class="s2072264SCL-000002"> SL 2018, ch 272, § 2.</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 - DEBTOR AND CREDITOR 54-5 INSTALLMENT LOANS [REPEALED] </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 54-5 INSTALLMENT LOANS [REPEALED] "> <META NAME="Description" Content="South Dakota Codified Laws 54-5"> </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: HG4 --><Div align="center"><!-- WP Style End: HG4 --> CHAPTER 54-5 <!-- WP Paired Style Off: HG4 --><!-- WP Style End: HG4 --> </Div> <br> <!-- WP Paired Style On: HG4C --><Div align="center"><!-- WP Style End: HG4C --> INSTALLMENT LOANS [REPEALED] <!-- WP Paired Style Off: HG4C --><!-- WP Style End: HG4C --> </Div> <br> <!-- WP Paired Style On: WISC --><Div align="center"><i><!-- WP Style End: WISC --> [Repealed by SL 1982, ch 344, &#167;&#167;&nbsp;6 to 8; &#167;&nbsp;54-5-11 transferred to &#167;&nbsp;51-16-45] <!-- WP Paired Style Off: WISC --></Div> <br> </i><!-- WP Style End: WISC --> <p> </BODY> </HTML> <br /><hr><br /> <HTML> <HEAD> <HTML> <HEAD> <meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 54 - DEBTOR AND CREDITOR 54-6 SMALL INSTALLMENT LOANS AND CONSUMER FINANCE [REPEALED] </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 54-6 SMALL INSTALLMENT LOANS AND CONSUMER FINANCE [REPEALED] "> <META NAME="Description" Content="South Dakota Codified Laws 54-6"> </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: HG4 --><Div align="center"><!-- WP Style End: HG4 --> CHAPTER 54-6 <!-- WP Paired Style Off: HG4 --><!-- WP Style End: HG4 --> </Div> <br> <!-- WP Paired Style On: HG4C --><Div align="center"><!-- WP Style End: HG4C --> SMALL INSTALLMENT LOANS AND CONSUMER FINANCE [REPEALED] <!-- WP Paired Style Off: HG4C --><!-- WP Style End: HG4C --> </Div> <br> <p> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-6-1">54-6-1</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Repealed. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-6-2">54-6-2</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Repealed. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-6-2.1">54-6-2.1</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Repealed. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-6-3">54-6-3</A> to 54-6-5. Repealed. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-6-6">54-6-6</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Repealed. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-6-7">54-6-7</A> to 54-6-16. Repealed. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-6-17">54-6-17</A>, 54-6-18. Repealed. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-6-19">54-6-19</A> to 54-6-35. Repealed. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-6-36">54-6-36</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Repealed. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-6-37">54-6-37</A> to 54-6-39. Repealed. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-6-40">54-6-40</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Repealed. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-6-41">54-6-41</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Repealed. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-6-42">54-6-42</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Repealed. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-6-43">54-6-43</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Repealed. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-6-44">54-6-44</A>, 54-6-45. Repealed. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-6-46">54-6-46</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Repealed. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-6-47">54-6-47</A> to 54-6-56. Repealed. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-6-57">54-6-57</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Repealed. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-6-58">54-6-58</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Repealed. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-6-59">54-6-59</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Repealed. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-6-60">54-6-60</A>, 54-6-61. Repealed. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <p> </BODY> </HTML> <br /><hr><br /> <HTML> <HEAD> <HTML> <HEAD> <meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 54 - DEBTOR AND CREDITOR 54-6-1 </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 54-6-1 "> <META NAME="Description" Content="South Dakota Codified Laws 54-6-1"> </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 --> 54-6-1. <!-- WP Paired Style Off: SENU -->&nbsp;<!-- WP Style End: SENU --> Repealed by SL 1998, ch 280, &#167;&nbsp;32.<p> </BODY> </HTML> <br /><hr><br /> <HTML> <HEAD> <HTML> <HEAD> <meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 54 - DEBTOR AND CREDITOR 54-6-2 </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 54-6-2 "> <META NAME="Description" Content="South Dakota Codified Laws 54-6-2"> </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 --> 54-6-2. <!-- WP Paired Style Off: SENU -->&nbsp;<!-- WP Style End: SENU --> Repealed by SL 1982, ch 344, &#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 - DEBTOR AND CREDITOR 54-6-2.1 </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 54-6-2.1 "> <META NAME="Description" Content="South Dakota Codified Laws 54-6-2.1"> </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 --> 54-6-2.1. <!-- WP Paired Style Off: SENU -->&nbsp;<!-- WP Style End: SENU --> Repealed by SL 1998, ch 280, &#167;&nbsp;31.<p> </BODY> </HTML> <br /><hr><br /> <HTML> <HEAD> <HTML> <HEAD> <meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 54 - DEBTOR AND CREDITOR 54-6-3 </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 54-6-3 "> <META NAME="Description" Content="South Dakota Codified Laws 54-6-3"> </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 --> 54-6-3 to 54-6-5. <!-- WP Paired Style Off: SENU -->&nbsp;<!-- WP Style End: SENU --> Repealed by SL 1998, ch 280, &#167;&nbsp;32.<p> </BODY> </HTML> <br /><hr><br /> <HTML> <HEAD> <HTML> <HEAD> <meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 54 - DEBTOR AND CREDITOR 54-6-6 </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 54-6-6 "> <META NAME="Description" Content="South Dakota Codified Laws 54-6-6"> </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 --> 54-6-6. <!-- WP Paired Style Off: SENU -->&nbsp;<!-- WP Style End: SENU --> Repealed by SL 1982, ch 344, &#167;&nbsp;3.<p> </BODY> </HTML> <br /><hr><br /> <HTML> <HEAD> <HTML> <HEAD> <meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 54 - DEBTOR AND CREDITOR 54-6-7 </title> <META NAME="Keywords" 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SENU --> Repealed by SL 1998, ch 280, &#167;&nbsp;32.<p> </BODY> </HTML> <br /><hr><br /> <HTML> <HEAD> <HTML> <HEAD> <meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 54 - DEBTOR AND CREDITOR 54-6-36 </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 54-6-36 "> <META NAME="Description" Content="South Dakota Codified Laws 54-6-36"> </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 --> 54-6-36. <!-- WP Paired Style Off: SENU -->&nbsp;<!-- WP Style End: SENU --> Repealed by SL 1980, ch 24, &#167;&nbsp;102.<p> </BODY> </HTML> <br /><hr><br /> <HTML> <HEAD> <HTML> <HEAD> <meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 54 - DEBTOR AND CREDITOR 54-6-37 </title> <META 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Repealed by SL 1982, ch 344, &#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 - DEBTOR AND CREDITOR 54-6-42 </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 54-6-42 "> <META NAME="Description" Content="South Dakota Codified Laws 54-6-42"> </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 --> 54-6-42. <!-- WP Paired Style Off: SENU -->&nbsp;<!-- WP Style End: SENU --> Repealed by SL 1998, ch 280, &#167;&nbsp;32.<p> </BODY> </HTML> <br /><hr><br /> <HTML> <HEAD> <HTML> <HEAD> <meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 54 - DEBTOR AND CREDITOR 54-6-43 </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 54-6-43 "> <META NAME="Description" Content="South Dakota Codified Laws 54-6-43"> </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 --> 54-6-43. <!-- WP Paired Style Off: SENU -->&nbsp;<!-- WP Style End: SENU --> Repealed by SL 1983, ch 363, &#167;&nbsp;6.<p> </BODY> </HTML> <br /><hr><br /> <HTML> <HEAD> <HTML> <HEAD> <meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 54 - DEBTOR AND CREDITOR 54-6-44 </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 54-6-44 "> <META NAME="Description" Content="South Dakota Codified Laws 54-6-44"> </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 --> 54-6-44, 54-6-45. <!-- WP Paired Style Off: SENU -->&nbsp;<!-- WP Style End: SENU --> Repealed by SL 1998, ch 280, &#167;&nbsp;32.<p> </BODY> </HTML> <br /><hr><br /> <HTML> <HEAD> <HTML> <HEAD> <meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 54 - DEBTOR AND CREDITOR 54-6-46 </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 54-6-46 "> <META NAME="Description" Content="South Dakota Codified Laws 54-6-46"> </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 --> 54-6-46. <!-- WP Paired Style Off: SENU -->&nbsp;<!-- WP Style End: SENU --> Repealed by SL 1983, ch 363, &#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 - DEBTOR AND CREDITOR 54-6-47 </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 54-6-47 "> <META NAME="Description" Content="South Dakota Codified Laws 54-6-47"> </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 --> 54-6-47 to 54-6-56. <!-- WP Paired Style Off: SENU -->&nbsp;<!-- WP Style End: SENU --> Repealed by SL 1998, ch 280, &#167;&nbsp;32.<p> </BODY> </HTML> <br /><hr><br /> <HTML> <HEAD> <HTML> <HEAD> <meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 54 - DEBTOR AND CREDITOR 54-6-57 </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 54-6-57 "> <META NAME="Description" Content="South Dakota Codified Laws 54-6-57"> </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 --> 54-6-57. <!-- WP Paired Style Off: SENU -->&nbsp;<!-- WP Style End: SENU --> Repealed by SL 1986, ch 405, &#167;&nbsp;3.<p> </BODY> </HTML> <br /><hr><br /> <HTML> <HEAD> <HTML> <HEAD> <meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 54 - DEBTOR AND CREDITOR 54-6-58 </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 54-6-58 "> <META NAME="Description" Content="South Dakota Codified Laws 54-6-58"> </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 --> 54-6-58. <!-- WP Paired Style Off: SENU -->&nbsp;<!-- WP Style End: SENU --> Repealed by SL 1998, ch 280, &#167;&nbsp;32.<p> </BODY> </HTML> <br /><hr><br /> <HTML> <HEAD> <HTML> <HEAD> <meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 54 - DEBTOR AND CREDITOR 54-6-59 </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 54-6-59 "> <META NAME="Description" Content="South Dakota Codified Laws 54-6-59"> </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 --> 54-6-59. <!-- WP Paired Style Off: SENU -->&nbsp;<!-- WP Style End: SENU --> Repealed by SL 1983, ch 13, &#167;&nbsp;13; SL 1983, ch 363, &#167;&nbsp;8.<p> </BODY> </HTML> <br /><hr><br /> <HTML> <HEAD> <HTML> <HEAD> <meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 54 - DEBTOR AND CREDITOR 54-6-60 </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 54-6-60 "> <META NAME="Description" Content="South Dakota Codified Laws 54-6-60"> </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 --> 54-6-60, 54-6-61. <!-- WP Paired Style Off: SENU -->&nbsp;<!-- WP Style End: SENU --> Repealed by SL 1998, ch 280, &#167;&nbsp;32.<p> </BODY> </HTML> <br /><hr><br /> <HTML> <HEAD> <HTML> <HEAD> <meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 54 - DEBTOR AND CREDITOR 54-6A LEASE-PURCHASE AGREEMENTS FOR PERSONAL PROPERTY </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 54-6A LEASE-PURCHASE AGREEMENTS FOR PERSONAL PROPERTY "> <META NAME="Description" Content="South Dakota Codified Laws 54-6A"> </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: HG4 --><Div align="center"><!-- WP Style End: HG4 --> CHAPTER 54-6A <!-- WP Paired Style Off: HG4 --><!-- WP Style End: HG4 --> </Div> <br> <!-- WP Paired Style On: HG4C --><Div align="center"><!-- WP Style End: HG4C --> LEASE-PURCHASE AGREEMENTS FOR PERSONAL PROPERTY <!-- WP Paired Style Off: HG4C --><!-- WP Style End: HG4C --> </Div> <br> <p> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-6A-1">54-6A-1</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Definitions. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-6A-2">54-6A-2</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Lease-purchase agreement defined. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-6A-3">54-6A-3</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Agreements exempt from other laws. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-6A-4">54-6A-4</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Disclosure of information. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-6A-5">54-6A-5</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Information required in disclosure. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-6A-6">54-6A-6</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Provisions prohibited in agreements. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-6A-7">54-6A-7</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Reinstatement of agreement--Repossession. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-6A-8">54-6A-8</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Written receipts for cash or money order. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-6A-9">54-6A-9</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Renegotiation for new agreement--Extensions. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-6A-10">54-6A-10</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Advertisement of lease-purchase agreement. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072289Normal { 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.s2072289SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072289CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072289Normal-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.s2072289DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072289Normal-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.s2072289DefaultParagraphFont-000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072289000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072289SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072289SCL-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="s2072289Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-6A-1"><span class="s2072289SENU">54-6A-1</span></a><span xml:space="preserve" class="s2072289SENU">. </span><span class="s2072289CL">Definitions.</span></p><p dir="ltr" class="s2072289Normal-000000"><span class="s2072289DefaultParagraphFont">Terms used in this chapter mean:</span></p><p dir="ltr" class="s2072289Normal-000001"><span class="s2072289DefaultParagraphFont">(1)    "Advertisement," a commercial message in any medium that aids, promotes, or assists, directly or indirectly, a lease</span><span class="s2072289DefaultParagraphFont-000002">-</span><span class="s2072289DefaultParagraphFont">purchase agreement;</span></p><p dir="ltr" class="s2072289Normal-000001"><span class="s2072289DefaultParagraphFont">(2)    "Cash price," the price at which the lessor would have sold the property to the consumer for cash on the date of the lease</span><span class="s2072289DefaultParagraphFont-000002">-</span><span class="s2072289DefaultParagraphFont">purchase agreement;</span></p><p dir="ltr" class="s2072289Normal-000001"><span class="s2072289DefaultParagraphFont">(3)    "Consumer," a natural person who rents personal property under a lease</span><span class="s2072289DefaultParagraphFont-000002">-</span><span class="s2072289DefaultParagraphFont">purchase agreement to be used primarily for personal, family or household purposes;</span></p><p dir="ltr" class="s2072289Normal-000001"><span class="s2072289DefaultParagraphFont">(4)    "Consummation," the time a consumer becomes contractually obligated on a lease</span><span class="s2072289DefaultParagraphFont-000002">-</span><span class="s2072289DefaultParagraphFont">purchase agreement;</span></p><p dir="ltr" class="s2072289Normal-000001"><span class="s2072289DefaultParagraphFont">(5)    "Lessor," a person who regularly provides the use of property through lease</span><span class="s2072289DefaultParagraphFont-000002">-</span><span class="s2072289DefaultParagraphFont">purchase agreements and to whom lease payments are initially payable on the face of the lease</span><span class="s2072289DefaultParagraphFont-000002">-</span><span class="s2072289DefaultParagraphFont">purchase agreement.</span></p><p dir="ltr" class="s2072289Normal"><span xml:space="preserve" class="s2072289000003"> </span></p><p dir="ltr" class="s2072289Normal"><span class="s2072289SCL">Source:</span><span xml:space="preserve" class="s2072289SCL-000004"> SL 1991, ch 393, § 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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072290Normal { 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.s2072290SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072290CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072290CL-000000 { font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072290Normal-000001 { 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.s2072290DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072290DefaultParagraphFont-000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072290000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072290SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072290SCL-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="s2072290Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-6A-2"><span class="s2072290SENU">54-6A-2</span></a><span xml:space="preserve" class="s2072290SENU">. </span><span class="s2072290CL">Lease</span><span class="s2072290CL-000000">-</span><span class="s2072290CL">purchase agreement defined.</span></p><p dir="ltr" class="s2072290Normal-000001"><span class="s2072290DefaultParagraphFont">A lease</span><span class="s2072290DefaultParagraphFont-000002">-</span><span class="s2072290DefaultParagraphFont">purchase agreement is an agreement for the use of personal property by a natural person primarily for personal, family or household purposes, for an initial period of four months or less that is automatically renewable with each payment after the initial period, but does not obligate or require the consumer to continue leasing or using the property beyond the initial period, and that permits the consumer to become the owner of the property.</span></p><p dir="ltr" class="s2072290Normal"><span xml:space="preserve" class="s2072290000003"> </span></p><p dir="ltr" class="s2072290Normal"><span class="s2072290SCL">Source:</span><span xml:space="preserve" class="s2072290SCL-000004"> SL 1991, ch 393, § 2.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072291Normal { 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.s2072291SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072291CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072291Normal-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.s2072291DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072291DefaultParagraphFont-000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072291Normal-000002 { margin-top: 0; margin-bottom: 0; margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-right: 0; } p.s2072291Normal-000003 { margin-top: 0; margin-bottom: 0; text-indent: 0.25in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2072291000004 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072291SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072291SCL-000005 { 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="s2072291Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-6A-3"><span class="s2072291SENU">54-6A-3</span></a><span xml:space="preserve" class="s2072291SENU">. </span><span class="s2072291CL">Agreements exempt from other laws.</span></p><p dir="ltr" class="s2072291Normal-000000"><span class="s2072291DefaultParagraphFont">Lease</span><span class="s2072291DefaultParagraphFont-000001">-</span><span class="s2072291DefaultParagraphFont">purchase agreements which comply with this chapter are not subject to the laws relating to:</span></p><p dir="ltr" class="s2072291Normal-000002"><span xml:space="preserve" class="s2072291DefaultParagraphFont">(1)    A consumer transaction in chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-3A"><span class="s2072291DefaultParagraphFont">54-3A</span></a><span class="s2072291DefaultParagraphFont">;</span></p><p dir="ltr" class="s2072291Normal-000002"><span xml:space="preserve" class="s2072291DefaultParagraphFont">(2)    A security interest defined in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=57A-1-201"><span class="s2072291DefaultParagraphFont">57A-1-201</span></a><span class="s2072291DefaultParagraphFont">; or</span></p><p dir="ltr" class="s2072291Normal-000002"><span xml:space="preserve" class="s2072291DefaultParagraphFont">(3)    A lease in chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=57A-2A"><span class="s2072291DefaultParagraphFont">57A-2A</span></a><span class="s2072291DefaultParagraphFont">.</span></p><p dir="ltr" class="s2072291Normal-000003"><span class="s2072291DefaultParagraphFont">This chapter does not apply to the following:</span></p><p dir="ltr" class="s2072291Normal-000002"><span class="s2072291DefaultParagraphFont">(1)    Lease</span><span class="s2072291DefaultParagraphFont-000001">-</span><span class="s2072291DefaultParagraphFont">purchase agreements primarily for business, commercial, or agricultural purposes, or those made with governmental agencies or instrumentalities or with organizations;</span></p><p dir="ltr" class="s2072291Normal-000002"><span class="s2072291DefaultParagraphFont">(2)    A lease of a safe deposit box;</span></p><p dir="ltr" class="s2072291Normal-000002"><span class="s2072291DefaultParagraphFont">(3)    A lease or bailment of personal property which is incidental to the lease of real property, and which provides that the consumer has no option to purchase the leased property; or</span></p><p dir="ltr" class="s2072291Normal-000002"><span class="s2072291DefaultParagraphFont">(4)    A lease of a motor vehicle.</span></p><p dir="ltr" class="s2072291Normal"><span xml:space="preserve" class="s2072291000004"> </span></p><p dir="ltr" class="s2072291Normal"><span class="s2072291SCL">Source:</span><span xml:space="preserve" class="s2072291SCL-000005"> SL 1991, ch 393, § 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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072292Normal { 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.s2072292SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072292CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072292Normal-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.s2072292DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072292DefaultParagraphFont-000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072292Normal-000002 { margin-top: 0; margin-bottom: 0; text-indent: 0.25in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2072292000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072292SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072292SCL-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="s2072292Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-6A-4"><span class="s2072292SENU">54-6A-4</span></a><span xml:space="preserve" class="s2072292SENU">. </span><span class="s2072292CL">Disclosure of information.</span></p><p dir="ltr" class="s2072292Normal-000000"><span class="s2072292DefaultParagraphFont">The lessor shall disclose to the consumer the information required by this chapter. In a transaction involving more than one lessor, only one lessor need make the disclosures, but all lessors shall be bound by such disclosures. The disclosures shall be made at or before consummation of the lease</span><span class="s2072292DefaultParagraphFont-000001">-</span><span class="s2072292DefaultParagraphFont">purchase agreement. The disclosures shall be made clearly and conspicuously in writing and a copy of the lease</span><span class="s2072292DefaultParagraphFont-000001">-</span><span xml:space="preserve" class="s2072292DefaultParagraphFont">purchase agreement provided to the consumer. The disclosures required under § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-6A-5"><span class="s2072292DefaultParagraphFont">54-6A-5</span></a><span xml:space="preserve" class="s2072292DefaultParagraphFont"> shall be made on the face of the contract above the line for the consumer's signature.</span></p><p dir="ltr" class="s2072292Normal-000002"><span class="s2072292DefaultParagraphFont">If a disclosure becomes inaccurate as the result of any act, occurrence, or agreement by the consumer after delivery of the required disclosures, the resulting inaccuracy is not a violation of this chapter.</span></p><p dir="ltr" class="s2072292Normal"><span xml:space="preserve" class="s2072292000003"> </span></p><p dir="ltr" class="s2072292Normal"><span class="s2072292SCL">Source:</span><span xml:space="preserve" class="s2072292SCL-000004"> SL 1991, ch 393, § 4.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072293Normal { 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.s2072293SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072293CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072293Normal-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.s2072293DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072293DefaultParagraphFont-000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072293Normal-000002 { 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; } p.s2072293Normal-000003 { text-indent: 0.25in; 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.s2072293000004 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072293SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072293SCL-000005 { 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="s2072293Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-6A-5"><span class="s2072293SENU">54-6A-5</span></a><span xml:space="preserve" class="s2072293SENU">. </span><span class="s2072293CL">Information required in disclosure.</span></p><p dir="ltr" class="s2072293Normal-000000"><span class="s2072293DefaultParagraphFont">For each lease</span><span class="s2072293DefaultParagraphFont-000001">-</span><span class="s2072293DefaultParagraphFont">purchase agreement, the lessor shall disclose in the agreement the following items, as applicable:</span></p><p dir="ltr" class="s2072293Normal-000002"><span class="s2072293DefaultParagraphFont">(1)    The total number, total amount, and timing of all payments necessary to acquire ownership of the property;</span></p><p dir="ltr" class="s2072293Normal-000002"><span class="s2072293DefaultParagraphFont">(2)    A statement that the consumer will not own the property until the consumer has made the total payment necessary to acquire ownership;</span></p><p dir="ltr" class="s2072293Normal-000002"><span class="s2072293DefaultParagraphFont">(3)    A statement that the consumer is responsible for the fair market value of the property if, and as of the time, it is lost, stolen, damaged, or destroyed;</span></p><p dir="ltr" class="s2072293Normal-000002"><span class="s2072293DefaultParagraphFont">(4)    A brief description of the leased property, sufficient to identify the property to the consumer and the lessor, including an identification number, if applicable, and a statement indicating whether the property is new or used, but a statement that indicates new property is used is not a violation of this chapter;</span></p><p dir="ltr" class="s2072293Normal-000002"><span class="s2072293DefaultParagraphFont">(5)    A brief description of any damages to the leased property;</span></p><p dir="ltr" class="s2072293Normal-000002"><span class="s2072293DefaultParagraphFont">(6)    A statement of the cash price of the property. If the agreement involves a lease of five or more items as a set, in one agreement, a statement of the aggregate cash price of all items is sufficient;</span></p><p dir="ltr" class="s2072293Normal-000002"><span class="s2072293DefaultParagraphFont">(7)    The total of initial payments paid or required at or before consummation of the agreement or delivery of the property, whichever is later;</span></p><p dir="ltr" class="s2072293Normal-000002"><span class="s2072293DefaultParagraphFont">(8)    A statement that the total of payments does not include other charges, such as late payment, default, pickup, and reinstatement fees, which fees shall be separately disclosed in the contract;</span></p><p dir="ltr" class="s2072293Normal-000002"><span class="s2072293DefaultParagraphFont">(9)    A statement clearly summarizing the terms of the consumer's option to purchase, including a statement that the consumer has the right to exercise an early purchase option and the price, formula, or method for determining the price at which the property may be so purchased;</span></p><p dir="ltr" class="s2072293Normal-000002"><span class="s2072293DefaultParagraphFont">(10)    A statement identifying the party responsible for maintaining or servicing the property while it is being leased, together with a description of that responsibility, and a statement that if any part of a manufacturer's express warranty covers the leased property at the time the consumer acquires ownership of the property, the warranty shall be transferred to the consumer, if allowed by the terms of the warranty;</span></p><p dir="ltr" class="s2072293Normal-000002"><span class="s2072293DefaultParagraphFont">(11)    The date of the transaction and the identities of the lessor and consumer;</span></p><p dir="ltr" class="s2072293Normal-000002"><span class="s2072293DefaultParagraphFont">(12)    A statement that the consumer may terminate the agreement without penalty by voluntarily surrendering or returning the property in good repair, ordinary wear and tear excepted, upon expiration of any lease term along with any past due rental payments; and</span></p><p dir="ltr" class="s2072293Normal-000002"><span class="s2072293DefaultParagraphFont">(13)    Notice of the right to reinstate an agreement as provided in this chapter.</span></p><p dir="ltr" class="s2072293Normal-000003"><span class="s2072293DefaultParagraphFont">With respect to matters specifically governed by the Federal Consumer Credit Protection Act, compliance with such act satisfies the requirements of this section.</span></p><p dir="ltr" class="s2072293Normal"><span xml:space="preserve" class="s2072293000004"> </span></p><p dir="ltr" class="s2072293Normal"><span class="s2072293SCL">Source:</span><span xml:space="preserve" class="s2072293SCL-000005"> SL 1991, ch 393, § 5.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072294Normal { 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.s2072294SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072294CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072294Normal-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.s2072294DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072294DefaultParagraphFont-000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072294Normal-000002 { 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.s2072294000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072294SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072294SCL-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="s2072294Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-6A-6"><span class="s2072294SENU">54-6A-6</span></a><span xml:space="preserve" class="s2072294SENU">. </span><span class="s2072294CL">Provisions prohibited in agreements.</span></p><p dir="ltr" class="s2072294Normal-000000"><span class="s2072294DefaultParagraphFont">A lease</span><span class="s2072294DefaultParagraphFont-000001">-</span><span class="s2072294DefaultParagraphFont">purchase agreement may not contain:</span></p><p dir="ltr" class="s2072294Normal-000002"><span class="s2072294DefaultParagraphFont">(1)    A confession of judgment;</span></p><p dir="ltr" class="s2072294Normal-000002"><span class="s2072294DefaultParagraphFont">(2)    A negotiable instrument;</span></p><p dir="ltr" class="s2072294Normal-000002"><span class="s2072294DefaultParagraphFont">(3)    A security interest or any other claim of a property interest in any goods except those goods delivered by the lessor pursuant to the lease</span><span class="s2072294DefaultParagraphFont-000001">-</span><span class="s2072294DefaultParagraphFont">purchase agreement;</span></p><p dir="ltr" class="s2072294Normal-000002"><span class="s2072294DefaultParagraphFont">(4)    A wage assignment;</span></p><p dir="ltr" class="s2072294Normal-000002"><span class="s2072294DefaultParagraphFont">(5)    A waiver by the consumer of claims or defenses; or</span></p><p dir="ltr" class="s2072294Normal-000002"><span class="s2072294DefaultParagraphFont">(6)    A provision authorizing the lessor or a person acting on the lessor's behalf to enter upon the consumer's premises or to commit any breach of the peace in the repossession of goods.</span></p><p dir="ltr" class="s2072294Normal"><span xml:space="preserve" class="s2072294000003"> </span></p><p dir="ltr" class="s2072294Normal"><span class="s2072294SCL">Source:</span><span xml:space="preserve" class="s2072294SCL-000004"> SL 1991, ch 393, § 6.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072295Normal { 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.s2072295SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072295CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072295Normal-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.s2072295DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072295Normal-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; } p.s2072295Normal-000002 { text-indent: 0.25in; 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.s2072295DefaultParagraphFont-000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072295000004 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072295SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072295SCL-000005 { 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="s2072295Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-6A-7"><span class="s2072295SENU">54-6A-7</span></a><span xml:space="preserve" class="s2072295SENU">. </span><span class="s2072295CL">Reinstatement of agreement--Repossession.</span></p><p dir="ltr" class="s2072295Normal-000000"><span class="s2072295DefaultParagraphFont">A consumer who fails to make a timely rental payment may reinstate the agreement, without losing any rights or options which exist under the agreement, by the payment of:</span></p><p dir="ltr" class="s2072295Normal-000001"><span class="s2072295DefaultParagraphFont">(1)    All past due rental charges;</span></p><p dir="ltr" class="s2072295Normal-000001"><span class="s2072295DefaultParagraphFont">(2)    If the property has been picked up, the reasonable costs of pickup and redelivery; and</span></p><p dir="ltr" class="s2072295Normal-000001"><span class="s2072295DefaultParagraphFont">(3)    Any applicable late fee, within five days of the renewal date if the consumer pays monthly, or within two days of the renewal date if the consumer pays more frequently than monthly.</span></p><p dir="ltr" class="s2072295Normal-000002"><span class="s2072295DefaultParagraphFont">In the case of a consumer who has paid less than two</span><span class="s2072295DefaultParagraphFont-000003">-</span><span class="s2072295DefaultParagraphFont">thirds of the total of payments necessary to acquire ownership and if the consumer has returned or voluntarily surrendered the property, other than through judicial process, during the applicable reinstatement period set forth in this section, the consumer may reinstate the agreement during a period of not less than twenty</span><span class="s2072295DefaultParagraphFont-000003">-</span><span class="s2072295DefaultParagraphFont">one days after the date of the return of the property.</span></p><p dir="ltr" class="s2072295Normal-000002"><span class="s2072295DefaultParagraphFont">In the case of a consumer who has paid two</span><span class="s2072295DefaultParagraphFont-000003">-</span><span class="s2072295DefaultParagraphFont">thirds or more of the total of payments necessary to acquire ownership, and if the consumer has returned or voluntarily surrendered the property, other than through judicial process, during the applicable period set forth in this section, the consumer may reinstate the agreement during a period of not less than forty</span><span class="s2072295DefaultParagraphFont-000003">-</span><span class="s2072295DefaultParagraphFont">five days after the date of the return of the property.</span></p><p dir="ltr" class="s2072295Normal-000002"><span class="s2072295DefaultParagraphFont">Nothing in this section prevents a lessor from attempting to repossess property during the reinstatement period, but such a repossession does not affect the consumer's right to reinstate. Upon reinstatement, the lessor shall provide the consumer with the same property or substitute property of comparable quality and condition.</span></p><p dir="ltr" class="s2072295Normal"><span xml:space="preserve" class="s2072295000004"> </span></p><p dir="ltr" class="s2072295Normal"><span class="s2072295SCL">Source:</span><span xml:space="preserve" class="s2072295SCL-000005"> SL 1991, ch 393, § 7.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072296Normal { 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.s2072296SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072296CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072296Normal-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.s2072296DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072296000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072296SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072296SCL-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="s2072296Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-6A-8"><span class="s2072296SENU">54-6A-8</span></a><span xml:space="preserve" class="s2072296SENU">. </span><span class="s2072296CL">Written receipts for cash or money order.</span></p><p dir="ltr" class="s2072296Normal-000000"><span class="s2072296DefaultParagraphFont">A lessor shall provide the consumer a written receipt for each payment made by cash or money order.</span></p><p dir="ltr" class="s2072296Normal"><span xml:space="preserve" class="s2072296000001"> </span></p><p dir="ltr" class="s2072296Normal"><span class="s2072296SCL">Source:</span><span xml:space="preserve" class="s2072296SCL-000002"> SL 1991, ch 393, § 8.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072297Normal { 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.s2072297SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072297CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072297Normal-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.s2072297DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072297DefaultParagraphFont-000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072297Normal-000002 { 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; } p.s2072297Normal-000003 { text-indent: 0.25in; 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.s2072297000004 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072297SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072297SCL-000005 { 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="s2072297Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-6A-9"><span class="s2072297SENU">54-6A-9</span></a><span xml:space="preserve" class="s2072297SENU">. </span><span class="s2072297CL">Renegotiation for new agreement--Extensions.</span></p><p dir="ltr" class="s2072297Normal-000000"><span class="s2072297DefaultParagraphFont">A renegotiation shall occur when an existing lease</span><span class="s2072297DefaultParagraphFont-000001">-</span><span class="s2072297DefaultParagraphFont">purchase agreement is satisfied and replaced by a new agreement undertaken by the same lessor and consumer. A renegotiation shall be considered a new agreement requiring new disclosures. However, the following events may not be treated as renegotiations:</span></p><p dir="ltr" class="s2072297Normal-000002"><span class="s2072297DefaultParagraphFont">(1)    The addition or return of property in a multiple</span><span class="s2072297DefaultParagraphFont-000001">-</span><span class="s2072297DefaultParagraphFont">item agreement or in the substitution of the lease property, if in either case the average payment allocable to a payment period is not changed by more than twenty</span><span class="s2072297DefaultParagraphFont-000001">-</span><span class="s2072297DefaultParagraphFont">five percent;</span></p><p dir="ltr" class="s2072297Normal-000002"><span class="s2072297DefaultParagraphFont">(2)    A deferral or extension of one or more periodic payments, or portions of a periodic payment;</span></p><p dir="ltr" class="s2072297Normal-000002"><span class="s2072297DefaultParagraphFont">(3)    A reduction in charges in the lease or agreement; and</span></p><p dir="ltr" class="s2072297Normal-000002"><span class="s2072297DefaultParagraphFont">(4)    A lease or agreement involved in a court proceeding.</span></p><p dir="ltr" class="s2072297Normal-000003"><span class="s2072297DefaultParagraphFont">No disclosures are required for any extension of a lease</span><span class="s2072297DefaultParagraphFont-000001">-</span><span class="s2072297DefaultParagraphFont">purchase agreement.</span></p><p dir="ltr" class="s2072297Normal"><span xml:space="preserve" class="s2072297000004"> </span></p><p dir="ltr" class="s2072297Normal"><span class="s2072297SCL">Source:</span><span xml:space="preserve" class="s2072297SCL-000005"> SL 1991, ch 393, § 9.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072298Normal { 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.s2072298SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072298CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072298CL-000000 { font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072298Normal-000001 { 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.s2072298DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072298DefaultParagraphFont-000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072298Normal-000003 { 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; } p.s2072298Normal-000004 { text-indent: 0.25in; 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.s2072298000005 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072298SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072298SCL-000006 { 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="s2072298Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-6A-10"><span class="s2072298SENU">54-6A-10</span></a><span xml:space="preserve" class="s2072298SENU">. </span><span class="s2072298CL">Advertisement of lease</span><span class="s2072298CL-000000">-</span><span class="s2072298CL">purchase agreement.</span></p><p dir="ltr" class="s2072298Normal-000001"><span class="s2072298DefaultParagraphFont">If an advertisement for a lease</span><span class="s2072298DefaultParagraphFont-000002">-</span><span class="s2072298DefaultParagraphFont">purchase agreement refers to or states the dollar amount of any payment and the right to acquire ownership of any one specific item, the advertisement shall also clearly and conspicuously state the following items, as applicable:</span></p><p dir="ltr" class="s2072298Normal-000003"><span class="s2072298DefaultParagraphFont">(1)    That the transaction advertised is a lease</span><span class="s2072298DefaultParagraphFont-000002">-</span><span class="s2072298DefaultParagraphFont">purchase agreement;</span></p><p dir="ltr" class="s2072298Normal-000003"><span class="s2072298DefaultParagraphFont">(2)    The total of payments necessary to acquire ownership; and</span></p><p dir="ltr" class="s2072298Normal-000003"><span class="s2072298DefaultParagraphFont">(3)    That the consumer acquires no ownership rights if the total amount necessary to acquire ownership is not paid.</span></p><p dir="ltr" class="s2072298Normal-000004"><span class="s2072298DefaultParagraphFont">Any owner or personnel of any medium in which an advertisement appears or through which it is disseminated is not liable under this section.</span></p><p dir="ltr" class="s2072298Normal-000004"><span class="s2072298DefaultParagraphFont">The provisions of this section do not apply to an advertisement which does not refer to or state the amount of any payment, or which is published in the yellow pages of a telephone directory or in any similar directory of business.</span></p><p dir="ltr" class="s2072298Normal"><span xml:space="preserve" class="s2072298000005"> </span></p><p dir="ltr" class="s2072298Normal"><span class="s2072298SCL">Source:</span><span xml:space="preserve" class="s2072298SCL-000006"> SL 1991, ch 393, § 10.</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 - DEBTOR AND CREDITOR 54-7 MOTOR VEHICLE RETAIL INSTALLMENT SALES [REPEALED] </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 54-7 MOTOR VEHICLE RETAIL INSTALLMENT SALES [REPEALED] "> <META NAME="Description" Content="South Dakota Codified Laws 54-7"> </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: HG4 --><Div align="center"><!-- WP Style End: HG4 --> CHAPTER 54-7 <!-- WP Paired Style Off: HG4 --><!-- WP Style End: HG4 --> </Div> <br> <!-- WP Paired Style On: HG4C --><Div align="center"><!-- WP Style End: HG4C --> MOTOR VEHICLE RETAIL INSTALLMENT SALES [REPEALED] <!-- WP Paired Style Off: HG4C --><!-- WP Style End: HG4C --> </Div> <br> <p> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-7-1">54-7-1</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Repealed. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-7-2">54-7-2</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Repealed. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-7-3">54-7-3</A> to 54-7-36. Repealed. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-7-37">54-7-37</A>, 54-7-38. Repealed. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-7-39">54-7-39</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Repealed. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-7-40">54-7-40</A> to 54-7-43. Repealed. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-7-44">54-7-44</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Repealed. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-7-45">54-7-45</A> to 54-7-48. Repealed. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <p> </BODY> </HTML> <br /><hr><br /> <HTML> <HEAD> <HTML> <HEAD> <meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 54 - DEBTOR AND CREDITOR 54-7-1 </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 54-7-1 "> <META NAME="Description" Content="South Dakota Codified Laws 54-7-1"> </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 --> 54-7-1. <!-- WP Paired Style Off: SENU -->&nbsp;<!-- WP Style End: SENU --> Repealed by SL 1998, ch 280, &#167;&nbsp;34.<p> </BODY> </HTML> <br /><hr><br /> <HTML> <HEAD> <HTML> <HEAD> <meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 54 - DEBTOR AND CREDITOR 54-7-2 </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 54-7-2 "> <META NAME="Description" Content="South Dakota Codified Laws 54-7-2"> </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 --> 54-7-2. <!-- WP Paired Style Off: SENU -->&nbsp;<!-- WP Style End: SENU --> Repealed by SL 1998, ch 280, &#167;&nbsp;33.<p> </BODY> </HTML> <br /><hr><br /> <HTML> <HEAD> <HTML> <HEAD> <meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 54 - DEBTOR AND CREDITOR 54-7-3 </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 54-7-3 "> <META NAME="Description" Content="South Dakota Codified Laws 54-7-3"> </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 --> 54-7-3 to 54-7-36. <!-- WP Paired Style Off: SENU -->&nbsp;<!-- WP Style End: SENU --> Repealed by SL 1998, ch 280, &#167;&nbsp;34.<p> </BODY> </HTML> <br /><hr><br /> <HTML> <HEAD> <HTML> <HEAD> <meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 54 - DEBTOR AND CREDITOR 54-7-37 </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 54-7-37 "> <META NAME="Description" Content="South Dakota Codified Laws 54-7-37"> </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 --> 54-7-37, 54-7-38. <!-- WP Paired Style Off: SENU -->&nbsp;<!-- WP Style End: SENU --> Repealed by SL 1982, ch 345, &#167;&#167;&nbsp;5, 6.<p> </BODY> </HTML> <br /><hr><br /> <HTML> <HEAD> <HTML> <HEAD> <meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 54 - DEBTOR AND CREDITOR 54-7-39 </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 54-7-39 "> <META NAME="Description" Content="South Dakota Codified Laws 54-7-39"> </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 --> 54-7-39. <!-- WP Paired Style Off: SENU -->&nbsp;<!-- WP Style End: SENU --> Repealed by SL 1982, ch 345, &#167;&nbsp;3.<p> </BODY> </HTML> <br /><hr><br /> <HTML> <HEAD> <HTML> <HEAD> <meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 54 - DEBTOR AND CREDITOR 54-7-40 </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 54-7-40 "> <META NAME="Description" Content="South Dakota Codified Laws 54-7-40"> </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 --> 54-7-40 to 54-7-43. <!-- WP Paired Style Off: SENU -->&nbsp;<!-- WP Style End: SENU --> Repealed by SL 1998, ch. 280, &#167;&nbsp;34.<p> </BODY> </HTML> <br /><hr><br /> <HTML> <HEAD> <HTML> <HEAD> <meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 54 - DEBTOR AND CREDITOR 54-7-44 </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 54-7-44 "> <META NAME="Description" Content="South Dakota Codified Laws 54-7-44"> </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 --> 54-7-44. <!-- WP Paired Style Off: SENU -->&nbsp;<!-- WP Style End: SENU --> Repealed by SL 1990, ch 158, &#167;&nbsp;6.<p> </BODY> </HTML> <br /><hr><br /> <HTML> <HEAD> <HTML> <HEAD> <meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 54 - DEBTOR AND CREDITOR 54-7-45 </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 54-7-45 "> <META NAME="Description" Content="South Dakota Codified Laws 54-7-45"> </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 --> 54-7-45 to 54-7-48. <!-- WP Paired Style Off: SENU -->&nbsp;<!-- WP Style End: SENU --> Repealed by SL 1998, ch 280, &#167;&nbsp;34.<p> </BODY> </HTML> <br /><hr><br /> <HTML> <HEAD> <HTML> <HEAD> <meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 54 - DEBTOR AND CREDITOR 54-8 ACTS IN FRAUD OF CREDITORS </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 54-8 ACTS IN FRAUD OF CREDITORS "> <META NAME="Description" Content="South Dakota Codified Laws 54-8"> </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: HG4 --><Div align="center"><!-- WP Style End: HG4 --> CHAPTER 54-8 <!-- WP Paired Style Off: HG4 --><!-- WP Style End: HG4 --> </Div> <br> <!-- WP Paired Style On: HG4C --><Div align="center"><!-- WP Style End: HG4C --> ACTS IN FRAUD OF CREDITORS <!-- WP Paired Style Off: HG4C --><!-- WP Style End: HG4C --> </Div> <br> <p> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-8-1">54-8-1</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Transfer with intent to delay or defraud creditors void. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-8-2">54-8-2</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Transfer of personal property--Constructive notice or actual delivery of possession--Rights of creditors. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-8-3">54-8-3</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Avoidance of act or obligation of debtor for fraud--Obstruction of legal process. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-8-4">54-8-4</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Fraudulent intent--Question of fact--Inadequacy of consideration. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-8-5">54-8-5</A> to 54-8-19. Repealed. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-8-20">54-8-20</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Removal, secretion, encumbrancing or disposition of property to defraud creditors--Misdemeanor. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-8-21">54-8-21</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Assignment or transfer of property to preferred creditors as felony--Exception. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-8-22">54-8-22</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Party to transfer or assignment of property to defraud creditors guilty of felony. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-8-23">54-8-23</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Fraud in bankruptcy proceedings--Misdemeanor. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072309Normal { 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.s2072309SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072309CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072309Normal-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.s2072309DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072309000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072309SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072309SCL-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="s2072309Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-8-1"><span class="s2072309SENU">54-8-1</span></a><span xml:space="preserve" class="s2072309SENU">. </span><span class="s2072309CL">Transfer with intent to delay or defraud creditors void.</span></p><p dir="ltr" class="s2072309Normal-000000"><span class="s2072309DefaultParagraphFont">Every transfer of property or charge made thereon, every obligation incurred, and every judicial proceeding taken, with intent to delay or defraud any creditor or other person of his demands is void against all creditors of the debtor and their successors in interest and against any persons upon whom the estate of the debtor devolves in trust for the benefit of others than the debtor.</span></p><p dir="ltr" class="s2072309Normal"><span xml:space="preserve" class="s2072309000001"> </span></p><p dir="ltr" class="s2072309Normal"><span class="s2072309SCL">Source:</span><span xml:space="preserve" class="s2072309SCL-000002"> CivC 1877, § 2023; CL 1887, § 4656; RCivC 1903, § 2368; RC 1919, § 2041; SDC 1939, § 23.0105.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072310Normal { 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.s2072310SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072310CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072310Normal-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.s2072310DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072310000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072310SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072310SCL-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="s2072310Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-8-2"><span class="s2072310SENU">54-8-2</span></a><span xml:space="preserve" class="s2072310SENU">. </span><span class="s2072310CL">Transfer of personal property--Constructive notice or actual delivery of possession--Rights of creditors.</span></p><p dir="ltr" class="s2072310Normal-000000"><span class="s2072310DefaultParagraphFont">Every transfer of personal property other than a thing in action, which is not evidenced by a bill of sale filed in the office of the register of deeds of the county wherein such property is situated or of the county to which such county is attached for judicial purposes, and every lien thereon, other than a mortgage, when allowed by law is conclusively presumed, if made by a person having at the time the possession or control of the property and not accompanied by an immediate delivery and followed by an actual and continued change of possession of the thing transferred, to be fraudulent and therefore void against those who are his creditors while he remains in possession, and the successors in interest of such creditors, and against any person on whom his estate devolves in trust for the benefit of others than himself and against purchasers and encumbrancers in good faith subsequent to the transfer.</span></p><p dir="ltr" class="s2072310Normal"><span xml:space="preserve" class="s2072310000001"> </span></p><p dir="ltr" class="s2072310Normal"><span class="s2072310SCL">Source:</span><span xml:space="preserve" class="s2072310SCL-000002"> CivC 1877, § 2024; CL 1887, § 4657; RCivC 1903, § 2369; RC 1919, § 2042; SDC 1939, § 23.0106.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072311Normal { 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.s2072311SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072311CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072311Normal-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.s2072311DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072311000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072311SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072311SCL-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="s2072311Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-8-3"><span class="s2072311SENU">54-8-3</span></a><span xml:space="preserve" class="s2072311SENU">. </span><span class="s2072311CL">Avoidance of act or obligation of debtor for fraud--Obstruction of legal process.</span></p><p dir="ltr" class="s2072311Normal-000000"><span class="s2072311DefaultParagraphFont">A creditor can avoid the act or obligation of his debtor for fraud, only where the fraud obstructs the enforcement, by legal process, of his right to take the property affected by the transfer or obligation.</span></p><p dir="ltr" class="s2072311Normal"><span xml:space="preserve" class="s2072311000001"> </span></p><p dir="ltr" class="s2072311Normal"><span class="s2072311SCL">Source:</span><span xml:space="preserve" class="s2072311SCL-000002"> CivC 1877, § 2025; CL 1887, § 4658; RCivC 1903, § 2370; RC 1919, § 2043; SDC 1939, § 23.0107.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072312Normal { 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.s2072312SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072312CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072312Normal-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.s2072312DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072312000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072312SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072312SCL-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="s2072312Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-8-4"><span class="s2072312SENU">54-8-4</span></a><span xml:space="preserve" class="s2072312SENU">. </span><span class="s2072312CL">Fraudulent intent--Question of fact--Inadequacy of consideration.</span></p><p dir="ltr" class="s2072312Normal-000000"><span xml:space="preserve" class="s2072312DefaultParagraphFont">In all cases under the provisions of this chapter, except as otherwise provided in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-8-2"><span class="s2072312DefaultParagraphFont">54-8-2</span></a><span xml:space="preserve" class="s2072312DefaultParagraphFont">, and except as provided in §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=43-25-32"><span class="s2072312DefaultParagraphFont">43-25-32</span></a><span xml:space="preserve" class="s2072312DefaultParagraphFont"> to </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=43-25-36"><span class="s2072312DefaultParagraphFont">43-25-36</span></a><span class="s2072312DefaultParagraphFont">, inclusive, the question of fraudulent intent is one of fact and not of law; nor can any transfer or charge be adjudged fraudulent solely on the ground that it was not made for a valuable consideration.</span></p><p dir="ltr" class="s2072312Normal"><span xml:space="preserve" class="s2072312000001"> </span></p><p dir="ltr" class="s2072312Normal"><span class="s2072312SCL">Source:</span><span xml:space="preserve" class="s2072312SCL-000002"> CivC 1877, § 2026; CL 1887, § 4659; RCivC 1903, § 2371; RC 1919, § 2044; SDC 1939, § 23.0108.</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 - DEBTOR AND CREDITOR 54-8-5 </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 54-8-5 "> <META NAME="Description" Content="South Dakota Codified Laws 54-8-5"> </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 --> 54-8-5 to 54-8-19. <!-- WP Paired Style Off: SENU -->&nbsp;<!-- WP Style End: SENU --> Repealed by SL 1987, ch 365, &#167;&nbsp;13.<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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072314Normal { 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.s2072314SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072314CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072314Normal-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.s2072314DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072314000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072314SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072314SCL-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="s2072314Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-8-20"><span class="s2072314SENU">54-8-20</span></a><span xml:space="preserve" class="s2072314SENU">. </span><span class="s2072314CL">Removal, secretion, encumbrancing or disposition of property to defraud creditors--Misdemeanor.</span></p><p dir="ltr" class="s2072314Normal-000000"><span class="s2072314DefaultParagraphFont">Every person who removes any of his property out of any county, with intent to prevent the same from being levied upon by any execution or attachment, or who secretes, encumbers, transfers, or otherwise disposes of any of his property, with intent to delay or defraud any creditor, and every person who receives any such property with such intent, is guilty of a Class 1 misdemeanor.</span></p><p dir="ltr" class="s2072314Normal"><span xml:space="preserve" class="s2072314000001"> </span></p><p dir="ltr" class="s2072314Normal"><span class="s2072314SCL">Source:</span><span xml:space="preserve" class="s2072314SCL-000002"> PenC 1877, § 636; CL 1887, § 6838; RPenC 1903, § 667; RC 1919, § 4278; SDC 1939, § 13.4302; SL 1980, ch 24, § 105.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072315Normal { 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.s2072315SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072315CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072315Normal-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.s2072315DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072315000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072315SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072315SCL-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="s2072315Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-8-21"><span class="s2072315SENU">54-8-21</span></a><span xml:space="preserve" class="s2072315SENU">. </span><span class="s2072315CL">Assignment or transfer of property to preferred creditors as felony--Exception.</span></p><p dir="ltr" class="s2072315Normal-000000"><span class="s2072315DefaultParagraphFont">Every person who, knowing that his property is insufficient for the payment of all his lawful debts, assigns, transfers, or delivers any property for the benefit of any creditor, or creditors, upon any trust or condition that any creditor shall receive a preference or priority over any other, except in the cases in which such preference is expressly allowed to be given by law, or with intent to create such preference or priority, is guilty of a Class 6 felony.</span></p><p dir="ltr" class="s2072315Normal"><span xml:space="preserve" class="s2072315000001"> </span></p><p dir="ltr" class="s2072315Normal"><span class="s2072315SCL">Source:</span><span xml:space="preserve" class="s2072315SCL-000002"> PenC 1877, § 637; CL 1887, § 6839; RPenC 1903, § 668; RC 1919, § 4279; SDC 1939, § 13.4303; SL 1980, ch 24, § 106; SL 1986, ch 406.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072316Normal { 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.s2072316SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072316CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072316Normal-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.s2072316DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072316000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072316SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072316SCL-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="s2072316Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-8-22"><span class="s2072316SENU">54-8-22</span></a><span xml:space="preserve" class="s2072316SENU">. </span><span class="s2072316CL">Party to transfer or assignment of property to defraud creditors guilty of felony.</span></p><p dir="ltr" class="s2072316Normal-000000"><span class="s2072316DefaultParagraphFont">Every person who, being a party to any conveyance or assignment of any property, or of any interest therein, made or created with intent to defraud prior or subsequent purchasers, or to delay or defraud creditors or other persons, and every person being privy to or knowing of such conveyance, assignment, or charge, who intentionally puts the same in use as having been made in good faith, is guilty of a Class 6 felony.</span></p><p dir="ltr" class="s2072316Normal"><span xml:space="preserve" class="s2072316000001"> </span></p><p dir="ltr" class="s2072316Normal"><span class="s2072316SCL">Source:</span><span xml:space="preserve" class="s2072316SCL-000002"> PenC 1877, § 635; CL 1887, § 6837; RPenC 1903, § 666; RC 1919, § 4277; SDC 1939, § 13.4301; SL 1980, ch 24, § 107; SL 1986, ch 407.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072317Normal { 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.s2072317SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072317CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072317Normal-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.s2072317DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072317Normal-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.s2072317000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072317SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072317SCL-000003 { 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="s2072317Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-8-23"><span class="s2072317SENU">54-8-23</span></a><span xml:space="preserve" class="s2072317SENU">. </span><span class="s2072317CL">Fraud in bankruptcy proceedings--Misdemeanor.</span></p><p dir="ltr" class="s2072317Normal-000000"><span class="s2072317DefaultParagraphFont">Every person who, upon making or prosecuting any application for a discharge as an insolvent debtor, under the provisions of any law now in force, or that may hereafter be enacted:</span></p><p dir="ltr" class="s2072317Normal-000001"><span class="s2072317DefaultParagraphFont">(1)    Fraudulently presents or authorizes to be presented on his behalf such application, in a case in which it is not authorized by law;</span></p><p dir="ltr" class="s2072317Normal-000001"><span class="s2072317DefaultParagraphFont">(2)    Makes or presents to any court or officer, in support of such application, any petition, schedule, book, account, voucher, or other paper or document, knowing the same to contain any false statement;</span></p><p dir="ltr" class="s2072317Normal-000001"><span class="s2072317DefaultParagraphFont">(3)    Fraudulently makes and exhibits, or alters, obliterates, or destroys any account or voucher relating to the condition of his affairs, or any entry or statement in such account or voucher;</span></p><p dir="ltr" class="s2072317Normal-000001"><span class="s2072317DefaultParagraphFont">(4)    Practices any fraud upon any creditor, with intent to induce him to petition for or consent to such discharge; or</span></p><p dir="ltr" class="s2072317Normal-000001"><span class="s2072317DefaultParagraphFont">(5)    Conspires with or induces any person fraudulently to unite as creditor in any petition for such discharge, or to practice any fraud in aid thereof;</span></p><p dir="ltr" class="s2072317Normal"><span class="s2072317DefaultParagraphFont">is guilty of a Class 1 misdemeanor.</span></p><p dir="ltr" class="s2072317Normal"><span xml:space="preserve" class="s2072317000002"> </span></p><p dir="ltr" class="s2072317Normal"><span class="s2072317SCL">Source:</span><span xml:space="preserve" class="s2072317SCL-000003"> PenC 1877, § 638; CL 1887, § 6840; RPenC 1903, § 669; RC 1919, § 4280; SDC 1939, § 13.4304; SL 1980, ch 24, § 108.</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 - DEBTOR AND CREDITOR 54-8A UNIFORM FRAUDULENT TRANSFER ACT </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 54-8A UNIFORM FRAUDULENT TRANSFER ACT "> <META NAME="Description" Content="South Dakota Codified Laws 54-8A"> </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: HG4 --><Div align="center"><!-- WP Style End: HG4 --> CHAPTER 54-8A <!-- WP Paired Style Off: HG4 --><!-- WP Style End: HG4 --> </Div> <br> <!-- WP Paired Style On: HG4C --><Div align="center"><!-- WP Style End: HG4C --> UNIFORM FRAUDULENT TRANSFER ACT <!-- WP Paired Style Off: HG4C --><!-- WP Style End: HG4C --> </Div> <br> <p> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-8A-1">54-8A-1</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Definitions. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-8A-2">54-8A-2</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Insolvency. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-8A-3">54-8A-3</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Value. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-8A-4">54-8A-4</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Transfers fraudulent as to present and future creditors. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-8A-5">54-8A-5</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Transfers fraudulent as to present creditors. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-8A-6">54-8A-6</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> When transfer is made or obligation is incurred. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-8A-7">54-8A-7</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Remedies of creditors. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-8A-8">54-8A-8</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Defenses, liability and protection of transferee. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-8A-9">54-8A-9</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Extinguishment of cause of action. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-8A-10">54-8A-10</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Supplementary provisions. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-8A-11">54-8A-11</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Uniform application and construction. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-8A-12">54-8A-12</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Short title. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072319Normal { 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.s2072319SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072319CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072319Normal-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.s2072319DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072319Normal-000001 { margin-top: 0; margin-bottom: 0; margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-right: 0; } p.s2072319Normal-000002 { margin-top: 0; margin-bottom: 0; margin-left: 1.14in; text-indent: -0.44in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-right: 0; } p.s2072319Normal-000003 { margin-top: 0; margin-bottom: 0; margin-left: 1.58in; text-indent: -0.44in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-right: 0; } span.s2072319000004 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072319DefaultParagraphFont-000005 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072319SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072319SCL-000006 { 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="s2072319Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-8A-1"><span class="s2072319SENU">54-8A-1</span></a><span xml:space="preserve" class="s2072319SENU">. </span><span class="s2072319CL">Definitions.</span></p><p dir="ltr" class="s2072319Normal-000000"><span class="s2072319DefaultParagraphFont">Terms used in this chapter mean:</span></p><p dir="ltr" class="s2072319Normal-000001"><span class="s2072319DefaultParagraphFont">(1)    "Affiliate,"</span></p><p dir="ltr" class="s2072319Normal-000002"><span class="s2072319DefaultParagraphFont">(i)    Any person who directly or indirectly owns, controls, or holds with power to vote, twenty percent or more of the outstanding voting securities of the debtor, other than a person who holds the securities:</span></p><p dir="ltr" class="s2072319Normal-000003"><span class="s2072319DefaultParagraphFont">(A)    As a fiduciary or agent without sole discretionary power to vote the securities; or</span></p><p dir="ltr" class="s2072319Normal-000003"><span class="s2072319DefaultParagraphFont">(B)    Solely to secure a debt, if the person has not exercised the power to vote;</span></p><p dir="ltr" class="s2072319Normal-000002"><span class="s2072319DefaultParagraphFont">(ii)    Any corporation twenty percent or more of whose outstanding voting securities are directly or indirectly owned, controlled, or held with power to vote, by the debtor or a person who directly or indirectly owns, controls, or holds, with power to vote, twenty percent or more of the outstanding voting securities of the debtor, other than a person who holds the securities:</span></p><p dir="ltr" class="s2072319Normal-000003"><span class="s2072319DefaultParagraphFont">(A)    As a fiduciary or agent without sole power to vote the securities; or</span></p><p dir="ltr" class="s2072319Normal-000003"><span class="s2072319DefaultParagraphFont">(B)    Solely to secure a debt, if the person has not in fact exercised the power to vote;</span></p><p dir="ltr" class="s2072319Normal-000002"><span class="s2072319DefaultParagraphFont">(iii)    Any person whose business is operated by the debtor under a lease or other agreement, or any person substantially all of whose assets are controlled by the debtor; or</span></p><p dir="ltr" class="s2072319Normal-000002"><span class="s2072319DefaultParagraphFont">(iv)    Any person who operates the debtor's business under a lease or other agreement or controls substantially all of the debtor's assets;</span></p><p dir="ltr" class="s2072319Normal-000001"><span class="s2072319DefaultParagraphFont">(2)    "Asset," any property of a debtor, but the term does not include:</span></p><p dir="ltr" class="s2072319Normal-000002"><span class="s2072319DefaultParagraphFont">(i)    Property to the extent it is encumbered by a valid lien;</span></p><p dir="ltr" class="s2072319Normal-000002"><span class="s2072319DefaultParagraphFont">(ii)    Property to the extent it is generally exempt under nonbankruptcy law; or</span></p><p dir="ltr" class="s2072319Normal-000002"><span class="s2072319DefaultParagraphFont">(iii)    Any interest in property held in tenancy by the entireties to the extent it is not subject to process by a creditor holding a claim against only one tenant;</span></p><p dir="ltr" class="s2072319Normal-000001"><span class="s2072319DefaultParagraphFont">(3)    "Claim," any right to payment, whether or not the right is reduced to judgment, liquidated, unliquidated, fixed, contingent, matured, unmatured, disputed, undisputed, legal, equitable, secured, or unsecured;</span></p><p dir="ltr" class="s2072319Normal-000001"><span class="s2072319DefaultParagraphFont">(4)    "Creditor," any person who has a claim;</span></p><p dir="ltr" class="s2072319Normal-000001"><span class="s2072319DefaultParagraphFont">(5)    "Debt," liability on a claim;</span></p><p dir="ltr" class="s2072319Normal-000001"><span class="s2072319DefaultParagraphFont">(6)    "Debtor," any person who is liable on a claim;</span></p><p dir="ltr" class="s2072319Normal-000001"><span class="s2072319DefaultParagraphFont">(7)    "Insider,"</span></p><p dir="ltr" class="s2072319Normal-000002"><span class="s2072319DefaultParagraphFont">(i)    If the debtor is an individual:</span></p><p dir="ltr" class="s2072319Normal-000003"><span class="s2072319DefaultParagraphFont">(A)    Any relative of the debtor or of a general partner of the debtor;</span></p><p dir="ltr" class="s2072319Normal-000003"><span class="s2072319DefaultParagraphFont">(B)    Any partnership in which the debtor is a general partner;</span></p><p dir="ltr" class="s2072319Normal-000003"><span class="s2072319DefaultParagraphFont">(C)    Any general partner in a partnership described in clause (B); or</span></p><p dir="ltr" class="s2072319Normal-000003"><span class="s2072319DefaultParagraphFont">(D)    Any corporation of which the debtor is a director, officer, or person in control;</span></p><p dir="ltr" class="s2072319Normal-000002"><span class="s2072319DefaultParagraphFont">(ii)    If the debtor is a corporation:</span></p><p dir="ltr" class="s2072319Normal-000003"><span class="s2072319DefaultParagraphFont">(A)    Any director of the debtor;</span></p><p dir="ltr" class="s2072319Normal-000003"><span class="s2072319DefaultParagraphFont">(B)    Any officer of the debtor;</span></p><p dir="ltr" class="s2072319Normal-000003"><span class="s2072319DefaultParagraphFont">(C)    Any person in control of the debtor;</span></p><p dir="ltr" class="s2072319Normal-000003"><span class="s2072319DefaultParagraphFont">(D)    Any partnership in which the debtor is a general partner;</span></p><p dir="ltr" class="s2072319Normal-000003"><span class="s2072319DefaultParagraphFont">(E)    Any general partner in a partnership described in clause (D); or</span></p><p dir="ltr" class="s2072319Normal-000003"><span class="s2072319DefaultParagraphFont">(F)    Any relative of a general partner, director, officer, or person in control of the debtor;</span></p><p dir="ltr" class="s2072319Normal-000002"><span class="s2072319DefaultParagraphFont">(iii)    If the debtor is a partnership:</span></p><p dir="ltr" class="s2072319Normal-000003"><span class="s2072319DefaultParagraphFont">(A)    Any general partner in the debtor;</span></p><p dir="ltr" class="s2072319Normal-000003"><span xml:space="preserve" class="s2072319000004"> </span></p></div><div><p dir="ltr" class="s2072319Normal-000003"><span class="s2072319DefaultParagraphFont">(B)    Any relative of a general partner in, a general partner of, or a person in control of the debtor;</span></p><p dir="ltr" class="s2072319Normal-000003"><span class="s2072319DefaultParagraphFont">(C)    Another partnership in which the debtor is a general partner;</span></p><p dir="ltr" class="s2072319Normal-000003"><span class="s2072319DefaultParagraphFont">(D)    Any general partner in a partnership described in clause (C); or</span></p><p dir="ltr" class="s2072319Normal-000003"><span class="s2072319DefaultParagraphFont">(E)    Any person in control of the debtor;</span></p><p dir="ltr" class="s2072319Normal-000002"><span class="s2072319DefaultParagraphFont">(iv)    Any affiliate, or any insider of an affiliate as if the affiliate were the debtor; and</span></p><p dir="ltr" class="s2072319Normal-000002"><span class="s2072319DefaultParagraphFont">(v)    Any managing agent of the debtor;</span></p><p dir="ltr" class="s2072319Normal-000001"><span class="s2072319DefaultParagraphFont">(8)    "Lien," any charge against or an interest in property to secure payment of a debt or performance of an obligation, and includes any security interest created by agreement, any judicial lien obtained by legal or equitable process or proceedings, any common</span><span class="s2072319DefaultParagraphFont-000005">-</span><span class="s2072319DefaultParagraphFont">law lien, or any statutory lien;</span></p><p dir="ltr" class="s2072319Normal-000001"><span class="s2072319DefaultParagraphFont">(9)    "Person," an individual, partnership, limited liability company, corporation, association, organization, government or governmental subdivision or agency, business trust, estate, trust, or any other legal or commercial entity;</span></p><p dir="ltr" class="s2072319Normal-000001"><span class="s2072319DefaultParagraphFont">(10)    "Property," anything that may be the subject of ownership;</span></p><p dir="ltr" class="s2072319Normal-000001"><span class="s2072319DefaultParagraphFont">(11)    "Relative," any individual related by consanguinity within the third degree as determined by the common law, a spouse, or an individual related to a spouse within the third degree as so determined, including an individual in an adoptive relationship within the third degree;</span></p><p dir="ltr" class="s2072319Normal-000001"><span class="s2072319DefaultParagraphFont">(12)    "Transfer," any mode, direct or indirect, absolute or conditional, voluntary or involuntary, of disposing of or parting with an asset or an interest in an asset, including payment of money, release, lease, and creation of a lien or other encumbrance;</span></p><p dir="ltr" class="s2072319Normal-000001"><span class="s2072319DefaultParagraphFont">(13)    "Valid lien," any lien that is effective against the holder of a judicial lien subsequently obtained by legal or equitable process or proceedings.</span></p><p dir="ltr" class="s2072319Normal"><span xml:space="preserve" class="s2072319000004"> </span></p><p dir="ltr" class="s2072319Normal"><span class="s2072319SCL">Source:</span><span xml:space="preserve" class="s2072319SCL-000006"> SL 1987, ch 365, § 1; SL 1994, ch 351, § 152.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072320Normal { 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.s2072320SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072320CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072320Normal-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.s2072320DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072320Normal-000001 { margin-top: 0; margin-bottom: 0; text-indent: 0.25in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2072320000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072320SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072320SCL-000003 { 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="s2072320Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-8A-2"><span class="s2072320SENU">54-8A-2</span></a><span xml:space="preserve" class="s2072320SENU">. </span><span class="s2072320CL">Insolvency.</span></p><p dir="ltr" class="s2072320Normal-000000"><span class="s2072320DefaultParagraphFont">(a) A debtor is insolvent if the sum of the debtor's debts is greater than all of the debtor's assets at a fair valuation.</span></p><p dir="ltr" class="s2072320Normal-000001"><span class="s2072320DefaultParagraphFont">(b) A debtor who is generally not paying his debts as they become due is presumed to be insolvent.</span></p><p dir="ltr" class="s2072320Normal-000001"><span class="s2072320DefaultParagraphFont">(c) A partnership is insolvent under subsection (a) if the sum of the partnership's debts is greater than the aggregate, at a fair valuation, of all of the partnership's assets and the sum of the excess of the value of each general partner's nonpartnership assets over the partner's nonpartnership debts.</span></p><p dir="ltr" class="s2072320Normal-000001"><span class="s2072320DefaultParagraphFont">(d) Assets under this section do not include property that has been transferred, concealed or removed with intent to hinder, delay or defraud creditors or that has been transferred in a manner making the transfer voidable under this chapter.</span></p><p dir="ltr" class="s2072320Normal-000001"><span class="s2072320DefaultParagraphFont">(e) Debts under this section do not include an obligation to the extent it is secured by a valid lien on property of the debtor not included as an asset.</span></p><p dir="ltr" class="s2072320Normal"><span xml:space="preserve" class="s2072320000002"> </span></p><p dir="ltr" class="s2072320Normal"><span class="s2072320SCL">Source:</span><span xml:space="preserve" class="s2072320SCL-000003"> SL 1987, ch 365, § 2.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072321Normal { 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.s2072321SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072321CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072321Normal-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.s2072321DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072321Normal-000001 { margin-top: 0; margin-bottom: 0; text-indent: 0.25in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2072321000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072321SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072321SCL-000003 { 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="s2072321Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-8A-3"><span class="s2072321SENU">54-8A-3</span></a><span xml:space="preserve" class="s2072321SENU">. </span><span class="s2072321CL">Value.</span></p><p dir="ltr" class="s2072321Normal-000000"><span class="s2072321DefaultParagraphFont">(a) Value is given for a transfer or an obligation if, in exchange for the transfer or obligation, property is transferred or an antecedent debt is secured or satisfied, but value does not include an unperformed promise made otherwise than in the ordinary course of the promisor's business to furnish support to the debtor or another person.</span></p><p dir="ltr" class="s2072321Normal-000001"><span xml:space="preserve" class="s2072321DefaultParagraphFont">(b) For the purposes of subsection 54-8A-4(a)(2) and § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-8A-5"><span class="s2072321DefaultParagraphFont">54-8A-5</span></a><span class="s2072321DefaultParagraphFont">, a person gives a reasonably equivalent value if the person acquires an interest of the debtor in an asset pursuant to a regularly conducted, noncollusive foreclosure sale or execution of a power of sale for the acquisition or disposition of the interest of the debtor upon default under a mortgage, deed of trust, or security agreement.</span></p><p dir="ltr" class="s2072321Normal-000001"><span class="s2072321DefaultParagraphFont">(c) A transfer is made for present value if the exchange between the debtor and the transferee is intended by them to be contemporaneous and is in fact substantially contemporaneous.</span></p><p dir="ltr" class="s2072321Normal"><span xml:space="preserve" class="s2072321000002"> </span></p><p dir="ltr" class="s2072321Normal"><span class="s2072321SCL">Source:</span><span xml:space="preserve" class="s2072321SCL-000003"> SL 1987, ch 365, § 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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072322Normal { 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.s2072322SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072322CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072322Normal-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.s2072322DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072322Normal-000001 { margin-top: 0; margin-bottom: 0; margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-right: 0; } p.s2072322Normal-000002 { margin-top: 0; margin-bottom: 0; margin-left: 1.14in; text-indent: -0.44in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-right: 0; } p.s2072322Normal-000003 { margin-top: 0; margin-bottom: 0; text-indent: 0.25in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2072322000004 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072322SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072322SCL-000005 { 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="s2072322Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-8A-4"><span class="s2072322SENU">54-8A-4</span></a><span xml:space="preserve" class="s2072322SENU">. </span><span class="s2072322CL">Transfers fraudulent as to present and future creditors.</span></p><p dir="ltr" class="s2072322Normal-000000"><span class="s2072322DefaultParagraphFont">(a) Any transfer made or obligation incurred by a debtor is fraudulent as to a creditor, whether the creditor's claim arose before or after the transfer was made or the obligation was incurred, if the debtor made the transfer or incurred the obligation:</span></p><p dir="ltr" class="s2072322Normal-000001"><span class="s2072322DefaultParagraphFont">(1)    With actual intent to hinder, delay, or defraud any creditor of the debtor; or</span></p><p dir="ltr" class="s2072322Normal-000001"><span class="s2072322DefaultParagraphFont">(2)    Without receiving a reasonably equivalent value in exchange for the transfer or obligation, and the debtor:</span></p><p dir="ltr" class="s2072322Normal-000002"><span class="s2072322DefaultParagraphFont">(i)    Was engaged or was about to engage in a business or a transaction for which the remaining assets of the debtor were unreasonably small in relation to the business or transaction; or</span></p><p dir="ltr" class="s2072322Normal-000002"><span class="s2072322DefaultParagraphFont">(ii)    Intended to incur, or believed or reasonably should have believed that he would incur, debts beyond his ability to pay as they became due.</span></p><p dir="ltr" class="s2072322Normal-000003"><span class="s2072322DefaultParagraphFont">(b) In determining actual intent under subsection (a)(1) of this section, consideration may be given, among other factors, to whether:</span></p><p dir="ltr" class="s2072322Normal-000001"><span class="s2072322DefaultParagraphFont">(1)    The transfer or obligation was to an insider;</span></p><p dir="ltr" class="s2072322Normal-000001"><span class="s2072322DefaultParagraphFont">(2)    The debtor retained possession or control of the property transferred after the transfer;</span></p><p dir="ltr" class="s2072322Normal-000001"><span class="s2072322DefaultParagraphFont">(3)    The transfer or obligation was disclosed or concealed;</span></p><p dir="ltr" class="s2072322Normal-000001"><span class="s2072322DefaultParagraphFont">(4)    Before the transfer was made or obligation was incurred, the debtor had been sued or threatened with suit;</span></p><p dir="ltr" class="s2072322Normal-000001"><span class="s2072322DefaultParagraphFont">(5)    The transfer was of substantially all the debtor's assets;</span></p><p dir="ltr" class="s2072322Normal-000001"><span class="s2072322DefaultParagraphFont">(6)    The debtor absconded;</span></p><p dir="ltr" class="s2072322Normal-000001"><span class="s2072322DefaultParagraphFont">(7)    The debtor removed or concealed assets;</span></p><p dir="ltr" class="s2072322Normal-000001"><span class="s2072322DefaultParagraphFont">(8)    The value of the consideration received by the debtor was reasonably equivalent to the value of the asset transferred or the amount of the obligation incurred;</span></p><p dir="ltr" class="s2072322Normal-000001"><span class="s2072322DefaultParagraphFont">(9)    The debtor was insolvent or became insolvent shortly after the transfer was made or the obligation was incurred;</span></p><p dir="ltr" class="s2072322Normal-000001"><span class="s2072322DefaultParagraphFont">(10)    The transfer occurred shortly before or shortly after a substantial debt was incurred; and</span></p><p dir="ltr" class="s2072322Normal-000001"><span class="s2072322DefaultParagraphFont">(11)    The debtor transferred the essential assets of the business to a lienor who transferred the assets to an insider of the debtor.</span></p><p dir="ltr" class="s2072322Normal"><span xml:space="preserve" class="s2072322000004"> </span></p><p dir="ltr" class="s2072322Normal"><span class="s2072322SCL">Source:</span><span xml:space="preserve" class="s2072322SCL-000005"> SL 1987, ch 365, § 4.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072323Normal { 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.s2072323SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072323CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072323Normal-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.s2072323DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072323Normal-000001 { margin-top: 0; margin-bottom: 0; text-indent: 0.25in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2072323000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072323SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072323SCL-000003 { 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="s2072323Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-8A-5"><span class="s2072323SENU">54-8A-5</span></a><span xml:space="preserve" class="s2072323SENU">. </span><span class="s2072323CL">Transfers fraudulent as to present creditors.</span></p><p dir="ltr" class="s2072323Normal-000000"><span class="s2072323DefaultParagraphFont">(a) A transfer made or obligation incurred by a debtor is fraudulent as to a creditor whose claim arose before the transfer was made or the obligation was incurred if the debtor made the transfer or incurred the obligation without receiving a reasonably equivalent value in exchange for the transfer or obligation and the debtor was insolvent at that time or the debtor became insolvent as a result of the transfer or obligation.</span></p><p dir="ltr" class="s2072323Normal-000001"><span class="s2072323DefaultParagraphFont">(b) A transfer made by a debtor is fraudulent as to a creditor whose claim arose before the transfer was made if the transfer was made to an insider for an antecedent debt, the debtor was insolvent at that time, and the insider had reasonable cause to believe that the debtor was insolvent.</span></p><p dir="ltr" class="s2072323Normal"><span xml:space="preserve" class="s2072323000002"> </span></p><p dir="ltr" class="s2072323Normal"><span class="s2072323SCL">Source:</span><span xml:space="preserve" class="s2072323SCL-000003"> SL 1987, ch 365, § 5.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072324Normal { 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.s2072324SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072324CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072324Normal-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.s2072324DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072324Normal-000001 { margin-top: 0; margin-bottom: 0; margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-right: 0; } p.s2072324Normal-000002 { margin-top: 0; margin-bottom: 0; margin-left: 1.14in; text-indent: -0.44in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-right: 0; } span.s2072324DefaultParagraphFont-000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072324000004 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072324SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072324SCL-000005 { 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="s2072324Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-8A-6"><span class="s2072324SENU">54-8A-6</span></a><span xml:space="preserve" class="s2072324SENU">. </span><span class="s2072324CL">When transfer is made or obligation is incurred.</span></p><p dir="ltr" class="s2072324Normal-000000"><span class="s2072324DefaultParagraphFont">For the purposes of this chapter:</span></p><p dir="ltr" class="s2072324Normal-000001"><span class="s2072324DefaultParagraphFont">(1)    A transfer is made:</span></p><p dir="ltr" class="s2072324Normal-000002"><span class="s2072324DefaultParagraphFont">(i)    With respect to an asset that is real property other than a fixture, but including the interest of a seller or purchaser under a contract for the sale of the asset, when the transfer is so far perfected that a good</span><span class="s2072324DefaultParagraphFont-000003">-</span><span class="s2072324DefaultParagraphFont">faith purchaser of the asset from the debtor against whom applicable law permits the transfer to be perfected cannot acquire an interest in the asset that is superior to the interest of the transferee; and</span></p><p dir="ltr" class="s2072324Normal-000002"><span class="s2072324DefaultParagraphFont">(ii)    With respect to an asset that is not real property or that is a fixture, when the transfer is so far perfected that a creditor on a simple contract cannot acquire a judicial lien otherwise than under this chapter that is superior to the interest of the transferee;</span></p><p dir="ltr" class="s2072324Normal-000001"><span class="s2072324DefaultParagraphFont">(2)    If applicable law permits the transfer to be perfected as provided in paragraph (1) and the transfer is not so perfected before the commencement of an action for relief under this chapter, the transfer is deemed made immediately before the commencement of the action;</span></p><p dir="ltr" class="s2072324Normal-000001"><span class="s2072324DefaultParagraphFont">(3)    If applicable law does not permit the transfer to be perfected as provided in paragraph (1), the transfer is made when it becomes effective between the debtor and the transferee;</span></p><p dir="ltr" class="s2072324Normal-000001"><span class="s2072324DefaultParagraphFont">(4)    A transfer is not made until the debtor has acquired rights in the asset transferred;</span></p><p dir="ltr" class="s2072324Normal-000001"><span class="s2072324DefaultParagraphFont">(5)    An obligation is incurred:</span></p><p dir="ltr" class="s2072324Normal-000002"><span class="s2072324DefaultParagraphFont">(i)    If oral, when it becomes effective between the parties; or</span></p><p dir="ltr" class="s2072324Normal-000002"><span class="s2072324DefaultParagraphFont">(ii)    If evidenced by a writing, when the writing executed by the obligor is delivered to or for the benefit of the obligee.</span></p><p dir="ltr" class="s2072324Normal"><span xml:space="preserve" class="s2072324000004"> </span></p><p dir="ltr" class="s2072324Normal"><span class="s2072324SCL">Source:</span><span xml:space="preserve" class="s2072324SCL-000005"> SL 1987, ch 365, § 6.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072325Normal { 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.s2072325SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072325CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072325Normal-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.s2072325DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072325Normal-000001 { margin-top: 0; margin-bottom: 0; margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-right: 0; } p.s2072325Normal-000002 { margin-top: 0; margin-bottom: 0; margin-left: 1.14in; text-indent: -0.44in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-right: 0; } p.s2072325Normal-000003 { margin-top: 0; margin-bottom: 0; text-indent: 0.25in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2072325000004 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072325SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072325SCL-000005 { 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="s2072325Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-8A-7"><span class="s2072325SENU">54-8A-7</span></a><span xml:space="preserve" class="s2072325SENU">. </span><span class="s2072325CL">Remedies of creditors.</span></p><p dir="ltr" class="s2072325Normal-000000"><span xml:space="preserve" class="s2072325DefaultParagraphFont">(a) In an action for relief against a transfer or obligation under this chapter, a creditor, subject to the limitations in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-8A-8"><span class="s2072325DefaultParagraphFont">54-8A-8</span></a><span class="s2072325DefaultParagraphFont">, may obtain:</span></p><p dir="ltr" class="s2072325Normal-000001"><span class="s2072325DefaultParagraphFont">(1)    Avoidance of the transfer or obligation to the extent necessary to satisfy the creditor's claim;</span></p><p dir="ltr" class="s2072325Normal-000001"><span class="s2072325DefaultParagraphFont">(2)    An attachment or other provisional remedy against the asset transferred or other property of the transferee;</span></p><p dir="ltr" class="s2072325Normal-000001"><span class="s2072325DefaultParagraphFont">(3)    Subject to applicable principles of equity and in accordance with applicable rules of civil procedure,</span></p><p dir="ltr" class="s2072325Normal-000002"><span class="s2072325DefaultParagraphFont">(i)    An injunction against further disposition by the debtor or a transferee, or both, of the asset transferred or of other property;</span></p><p dir="ltr" class="s2072325Normal-000002"><span class="s2072325DefaultParagraphFont">(ii)    Appointment of a receiver to take charge of the asset transferred or of other property of the transferee; or</span></p><p dir="ltr" class="s2072325Normal-000002"><span class="s2072325DefaultParagraphFont">(iii)    Any other relief the circumstances may require.</span></p><p dir="ltr" class="s2072325Normal-000003"><span class="s2072325DefaultParagraphFont">(b) If a creditor has obtained a judgment on a claim against the debtor, the creditor, if the court so orders, may levy execution on the asset transferred or its proceeds.</span></p><p dir="ltr" class="s2072325Normal"><span xml:space="preserve" class="s2072325000004"> </span></p><p dir="ltr" class="s2072325Normal"><span class="s2072325SCL">Source:</span><span xml:space="preserve" class="s2072325SCL-000005"> SL 1987, ch 365, § 7.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072326Normal { 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.s2072326SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072326CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072326Normal-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.s2072326DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072326Normal-000001 { margin-top: 0; margin-bottom: 0; text-indent: 0.25in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } p.s2072326Normal-000002 { margin-top: 0; margin-bottom: 0; margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-right: 0; } span.s2072326DefaultParagraphFont-000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072326000004 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072326SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072326SCL-000005 { 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="s2072326Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-8A-8"><span class="s2072326SENU">54-8A-8</span></a><span xml:space="preserve" class="s2072326SENU">. </span><span class="s2072326CL">Defenses, liability and protection of transferee.</span></p><p dir="ltr" class="s2072326Normal-000000"><span class="s2072326DefaultParagraphFont">(a) A transfer or obligation is not voidable under subsection 54-8A-4(a)(1) against a person who took in good faith and for a reasonably equivalent value or against any subsequent transferee or obligee.</span></p><p dir="ltr" class="s2072326Normal-000001"><span class="s2072326DefaultParagraphFont">(b) Except as otherwise provided in this section, to the extent a transfer is voidable in an action by a creditor under subsection 54-8A-7(a)(1) the creditor may recover judgment for the value of the asset transferred, as adjusted under subsection (c) of this section, or the amount necessary to satisfy the creditor's claim, whichever is less. The judgment may be entered against:</span></p><p dir="ltr" class="s2072326Normal-000002"><span class="s2072326DefaultParagraphFont">(1)    The first transferee of the asset or the person for whose benefit the transfer was made; or</span></p><p dir="ltr" class="s2072326Normal-000002"><span class="s2072326DefaultParagraphFont">(2)    Any subsequent transferee other than a good faith transferee who took for value or from any subsequent transferee.</span></p><p dir="ltr" class="s2072326Normal-000001"><span class="s2072326DefaultParagraphFont">(c) If the judgment under subsection (b) of this section is based upon the value of the asset transferred, the judgment shall be for an amount equal to the value of the asset at the time of the transfer, subject to adjustment as the equities may require.</span></p><p dir="ltr" class="s2072326Normal-000001"><span class="s2072326DefaultParagraphFont">(d) Notwithstanding voidability of a transfer or an obligation under this chapter, a good</span><span class="s2072326DefaultParagraphFont-000003">-</span><span class="s2072326DefaultParagraphFont">faith transferee or obligee is entitled, to the extent of the value given the debtor for the transfer or obligation, to:</span></p><p dir="ltr" class="s2072326Normal-000002"><span class="s2072326DefaultParagraphFont">(1)    A lien on or a right to retain any interest in the asset transferred;</span></p><p dir="ltr" class="s2072326Normal-000002"><span class="s2072326DefaultParagraphFont">(2)    Enforcement of any obligation incurred; or</span></p><p dir="ltr" class="s2072326Normal-000002"><span class="s2072326DefaultParagraphFont">(3)    A reduction in the amount of the liability on the judgment.</span></p><p dir="ltr" class="s2072326Normal-000001"><span xml:space="preserve" class="s2072326DefaultParagraphFont">(e) A transfer is not voidable under subsection 54-8A-4(a)(2) or § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-8A-5"><span class="s2072326DefaultParagraphFont">54-8A-5</span></a><span xml:space="preserve" class="s2072326DefaultParagraphFont"> if the transfer results from:</span></p><p dir="ltr" class="s2072326Normal-000002"><span class="s2072326DefaultParagraphFont">(1)    Termination of a lease upon default by the debtor when the termination is pursuant to the lease and applicable law; or</span></p><p dir="ltr" class="s2072326Normal-000002"><span xml:space="preserve" class="s2072326DefaultParagraphFont">(2)    Enforcement of a security interest in compliance with chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=57A-9"><span class="s2072326DefaultParagraphFont">57A-9</span></a><span class="s2072326DefaultParagraphFont">.</span></p><p dir="ltr" class="s2072326Normal-000001"><span class="s2072326DefaultParagraphFont">(f) A transfer is not voidable under subdivision 54-8A-5(b):</span></p><p dir="ltr" class="s2072326Normal-000002"><span class="s2072326DefaultParagraphFont">(1)    To the extent the insider gave new value to or for the benefit of the debtor after the transfer was made unless the new value was secured by a valid lien;</span></p><p dir="ltr" class="s2072326Normal-000002"><span class="s2072326DefaultParagraphFont">(2)    If made in the ordinary course of business or financial affairs of the debtor and the insider; or</span></p><p dir="ltr" class="s2072326Normal-000002"><span class="s2072326DefaultParagraphFont">(3)    If made pursuant to a good</span><span class="s2072326DefaultParagraphFont-000003">-</span><span class="s2072326DefaultParagraphFont">faith effort to rehabilitate the debtor and the transfer secured present value given for that purpose as well as an antecedent debt of the debtor.</span></p><p dir="ltr" class="s2072326Normal"><span xml:space="preserve" class="s2072326000004"> </span></p><p dir="ltr" class="s2072326Normal"><span class="s2072326SCL">Source:</span><span xml:space="preserve" class="s2072326SCL-000005"> SL 1987, ch 365, § 8.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072327Normal { 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.s2072327SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072327CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072327Normal-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.s2072327DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072327Normal-000001 { margin-top: 0; margin-bottom: 0; text-indent: 0.25in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2072327000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072327SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072327SCL-000003 { 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="s2072327Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-8A-9"><span class="s2072327SENU">54-8A-9</span></a><span xml:space="preserve" class="s2072327SENU">. </span><span class="s2072327CL">Extinguishment of cause of action.</span></p><p dir="ltr" class="s2072327Normal-000000"><span class="s2072327DefaultParagraphFont">A cause of action with respect to a fraudulent transfer or obligation under this chapter is extinguished unless action is brought:</span></p><p dir="ltr" class="s2072327Normal-000001"><span class="s2072327DefaultParagraphFont">(a) Under subsection 54-8A-4(a)(1) within four years after the transfer was made or the obligation was incurred or, if later, within one year after the transfer or obligation was or could reasonably have been discovered by the claimant;</span></p><p dir="ltr" class="s2072327Normal-000001"><span class="s2072327DefaultParagraphFont">(b) Under subsection 54-8A-4(a)(2) or subdivision 54-8A-5(a) within four years after the transfer was made or the obligation was incurred; or</span></p><p dir="ltr" class="s2072327Normal-000001"><span class="s2072327DefaultParagraphFont">(c) Under subdivision 54-8A-5(b) within one year after the transfer was made or the obligation was incurred.</span></p><p dir="ltr" class="s2072327Normal"><span xml:space="preserve" class="s2072327000002"> </span></p><p dir="ltr" class="s2072327Normal"><span class="s2072327SCL">Source:</span><span xml:space="preserve" class="s2072327SCL-000003"> SL 1987, ch 365, § 9.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072328Normal { 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.s2072328SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072328CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072328Normal-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.s2072328DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072328000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072328SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072328SCL-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="s2072328Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-8A-10"><span class="s2072328SENU">54-8A-10</span></a><span xml:space="preserve" class="s2072328SENU">. </span><span class="s2072328CL">Supplementary provisions.</span></p><p dir="ltr" class="s2072328Normal-000000"><span class="s2072328DefaultParagraphFont">Unless displaced by the provisions of this chapter, the principles of law and equity, including the law merchant and the law relating to principal and agent, estoppel, laches, fraud, misrepresentation, duress, coercion, mistake, insolvency, or other validating or invalidating cause, supplement its provisions.</span></p><p dir="ltr" class="s2072328Normal"><span xml:space="preserve" class="s2072328000001"> </span></p><p dir="ltr" class="s2072328Normal"><span class="s2072328SCL">Source:</span><span xml:space="preserve" class="s2072328SCL-000002"> SL 1987, ch 365, § 10.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072329Normal { 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.s2072329SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072329CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072329Normal-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.s2072329DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072329000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072329SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072329SCL-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="s2072329Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-8A-11"><span class="s2072329SENU">54-8A-11</span></a><span xml:space="preserve" class="s2072329SENU">. </span><span class="s2072329CL">Uniform application and construction.</span></p><p dir="ltr" class="s2072329Normal-000000"><span class="s2072329DefaultParagraphFont">This chapter shall be applied and construed to effectuate its general purpose to make uniform the law with respect to the subject of this chapter among states enacting it.</span></p><p dir="ltr" class="s2072329Normal"><span xml:space="preserve" class="s2072329000001"> </span></p><p dir="ltr" class="s2072329Normal"><span class="s2072329SCL">Source:</span><span xml:space="preserve" class="s2072329SCL-000002"> SL 1987, ch 365, § 11.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072330Normal { 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.s2072330SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072330CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072330Normal-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.s2072330DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072330000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072330SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072330SCL-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="s2072330Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-8A-12"><span class="s2072330SENU">54-8A-12</span></a><span xml:space="preserve" class="s2072330SENU">. </span><span class="s2072330CL">Short title.</span></p><p dir="ltr" class="s2072330Normal-000000"><span class="s2072330DefaultParagraphFont">This chapter may be cited as the Uniform Fraudulent Transfer Act.</span></p><p dir="ltr" class="s2072330Normal"><span xml:space="preserve" class="s2072330000001"> </span></p><p dir="ltr" class="s2072330Normal"><span class="s2072330SCL">Source:</span><span xml:space="preserve" class="s2072330SCL-000002"> SL 1987, ch 365, § 12.</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 - DEBTOR AND CREDITOR 54-9 ASSIGNMENT FOR BENEFIT OF CREDITORS </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 54-9 ASSIGNMENT FOR BENEFIT OF CREDITORS "> <META NAME="Description" Content="South Dakota Codified Laws 54-9"> </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: HG4 --><Div align="center"><!-- WP Style End: HG4 --> CHAPTER 54-9 <!-- WP Paired Style Off: HG4 --><!-- WP Style End: HG4 --> </Div> <br> <!-- WP Paired Style On: HG4C --><Div align="center"><!-- WP Style End: HG4C --> ASSIGNMENT FOR BENEFIT OF CREDITORS <!-- WP Paired Style Off: HG4C --><!-- WP Style End: HG4C --> </Div> <br> <p> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-9-1">54-9-1</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Execution of assignment by insolvent debtor. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-9-2">54-9-2</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Instrument of assignment--Execution--Acknowledgment or proof--Recording--Defective execution invalidates assignment. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-9-3">54-9-3</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Subsisting absolute or contingent liability of assignor. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-9-4">54-9-4</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Repealed. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-9-5">54-9-5</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Assignment invalid against creditor of assignor not assenting thereto. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-9-6">54-9-6</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Property exempt from execution--Life insurance--Effect of assignment. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-9-7">54-9-7</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Inventory required of assignor--Contents--Verification. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-9-8">54-9-8</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Recording assignment and filing inventory. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-9-9">54-9-9</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Effect of omitting to record--Assignment of real property. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-9-10">54-9-10</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Assent of creditors necessary to modification of assignment. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-9-11">54-9-11</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Bond of assignee--Amount--Approval of sureties by circuit court--Terms and conditions. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-9-12">54-9-12</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Disposal or conversion of estate--Authority of assignee. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-9-13">54-9-13</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Assignee takes subject to rights of third parties--Nonliability for acts done in good faith under void assignment. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-9-13.1">54-9-13.1</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Action by assignee against person receiving property of debtor in fraud of creditors. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-9-13.2">54-9-13.2</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Action by assignee against creditor receiving voluntary transfer from insolvent assignor. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-9-13.3">54-9-13.3</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Duties of assignee. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-9-13.4">54-9-13.4</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Notice to creditors to present verified claims--Publication. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-9-13.5">54-9-13.5</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Contents of creditor's claim--Claim founded upon instrument. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-9-13.6">54-9-13.6</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Time limitation on filing creditor's claim. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-9-13.7">54-9-13.7</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Wages and commissions as preferred claims--Limitation on amount--&quot;Traveling or city salesmen&quot; defined. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-9-13.8">54-9-13.8</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Sale or compromise of claims or property of estate--Liability of assignee. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-9-13.9">54-9-13.9</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Sales at public auction--Procedure for private sales and sales of perishable property. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-9-14">54-9-14</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Compensation of assignee. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-9-15">54-9-15</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Proceeding subject to order and supervision of circuit court--Rendition of accounts and filing of reports by assignee--Distribution of trust estate. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-9-15.1">54-9-15.1</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Power of court to take and state accounts. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-9-15.2">54-9-15.2</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Accountants and attorneys appointed by court--Compensation of attorneys. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-9-16">54-9-16</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Accounting of assignee. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-9-16.1">54-9-16.1</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Deposit of funds in court for distribution subsequent to discharge of assignee. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-9-17">54-9-17</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Removal of assignee by circuit court--Appointment and delivery of property to successor. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-9-18">54-9-18</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Removal of assignee by circuit court--Discharge on full accounting and surrender of property to new assignee. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-9-19">54-9-19</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Discharge of assignee upon full compliance with trust. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-9-20">54-9-20</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Application of assignee for discharge--Notice by publication. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-9-21">54-9-21</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Hearing upon application of assignee for discharge--Order requiring the performance of acts not completed--Order of discharge, granting, effect. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-9-22">54-9-22</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Federal bankruptcy proceedings, possession of estate taken from assignee--Discharge of assignee on full accounting to trustee in bankruptcy. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072332Normal { 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.s2072332SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072332CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072332Normal-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.s2072332DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072332000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072332SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072332SCL-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="s2072332Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-9-1"><span class="s2072332SENU">54-9-1</span></a><span xml:space="preserve" class="s2072332SENU">. </span><span class="s2072332CL">Execution of assignment by insolvent debtor.</span></p><p dir="ltr" class="s2072332Normal-000000"><span class="s2072332DefaultParagraphFont">An insolvent debtor, as defined by the statutes of fraudulent conveyance, may, in good faith, execute an assignment of property to one or more assignees, in trust towards the satisfaction of his creditors, in conformity to the provisions of this chapter, subject, however, to the provisions of the statutes relative to trusts and to fraudulent transfers, and to the restrictions imposed by law upon assignments by special partnerships, by corporations or by other specified classes of persons.</span></p><p dir="ltr" class="s2072332Normal"><span xml:space="preserve" class="s2072332000001"> </span></p><p dir="ltr" class="s2072332Normal"><span class="s2072332SCL">Source:</span><span xml:space="preserve" class="s2072332SCL-000002"> CivC 1877, § 2027; CL 1887, § 4660; RCivC 1903, § 2372; RC 1919, § 2045; SDC 1939 &amp; Supp 1960, § 37.5101.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072333Normal { 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.s2072333SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072333CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072333Normal-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.s2072333DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072333000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072333SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072333SCL-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="s2072333Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-9-2"><span class="s2072333SENU">54-9-2</span></a><span xml:space="preserve" class="s2072333SENU">. </span><span class="s2072333CL">Instrument of assignment--Execution--Acknowledgment or proof--Recording--Defective execution invalidates assignment.</span></p><p dir="ltr" class="s2072333Normal-000000"><span xml:space="preserve" class="s2072333DefaultParagraphFont">An assignment for the benefit of creditors must be in writing, subscribed by the assignor, or by his agent thereto authorized by writing. It must be acknowledged or proved and certified, in the mode prescribed by this code for recording transfers of real property and recorded as required by § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-9-8"><span class="s2072333DefaultParagraphFont">54-9-8</span></a><span class="s2072333DefaultParagraphFont">. Unless such provisions are complied with, an assignment for the benefit of creditors is void against every creditor of the assignor not assenting thereto.</span></p><p dir="ltr" class="s2072333Normal"><span xml:space="preserve" class="s2072333000001"> </span></p><p dir="ltr" class="s2072333Normal"><span class="s2072333SCL">Source:</span><span xml:space="preserve" class="s2072333SCL-000002"> CivC 1877, §§ 2031, 2032; CL 1887, §§ 4664, 4665; RCivC 1903, §§ 2376, 2377; RC 1919, §§ 2049, 2050; Supreme Court Rule 617, 1939; SDC 1939 &amp; Supp 1960, § 37.5104.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072334Normal { 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.s2072334SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072334CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072334Normal-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.s2072334DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072334000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072334SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072334SCL-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="s2072334Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-9-3"><span class="s2072334SENU">54-9-3</span></a><span xml:space="preserve" class="s2072334SENU">. </span><span class="s2072334CL">Subsisting absolute or contingent liability of assignor.</span></p><p dir="ltr" class="s2072334Normal-000000"><span class="s2072334DefaultParagraphFont">An assignment for the benefit of creditors may provide for any subsisting liability of the assignor which he might lawfully pay, whether absolute or contingent.</span></p><p dir="ltr" class="s2072334Normal"><span xml:space="preserve" class="s2072334000001"> </span></p><p dir="ltr" class="s2072334Normal"><span class="s2072334SCL">Source:</span><span xml:space="preserve" class="s2072334SCL-000002"> CivC 1877, § 2029; CL 1887, § 4662; RCivC 1903, § 2374; RC 1919, § 2047; SDC 1939 &amp; Supp 1960, § 37.5102.</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 - DEBTOR AND CREDITOR 54-9-4 </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 54-9-4 "> <META NAME="Description" Content="South Dakota Codified Laws 54-9-4"> </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 --> 54-9-4. <!-- WP Paired Style Off: SENU -->&nbsp;<!-- WP Style End: SENU --> Repealed by SL 1969, ch 162, &#167;&nbsp;9.<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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072336Normal { 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.s2072336SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072336CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072336Normal-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.s2072336DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072336Normal-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.s2072336000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072336SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072336SCL-000003 { 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="s2072336Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-9-5"><span class="s2072336SENU">54-9-5</span></a><span xml:space="preserve" class="s2072336SENU">. </span><span class="s2072336CL">Assignment invalid against creditor of assignor not assenting thereto.</span></p><p dir="ltr" class="s2072336Normal-000000"><span class="s2072336DefaultParagraphFont">An assignment for the benefit of creditors is void against any creditor of the assignor not assenting thereto, in the following cases:</span></p><p dir="ltr" class="s2072336Normal-000001"><span class="s2072336DefaultParagraphFont">(1)    If it provides preference or priority to any creditor over any other creditor except as provided in this chapter;</span></p><p dir="ltr" class="s2072336Normal-000001"><span class="s2072336DefaultParagraphFont">(2)    If it provides for the payment of any claim known to the assignor to be false or fraudulent; or for the payment of more upon any claim than is known to be justly due from the assignor;</span></p><p dir="ltr" class="s2072336Normal-000001"><span class="s2072336DefaultParagraphFont">(3)    If it reserves any interest in the assigned property, or in any part thereof, to the assignor or for his benefit, before all his existing debts are paid, other than property exempt by law from execution;</span></p><p dir="ltr" class="s2072336Normal-000001"><span class="s2072336DefaultParagraphFont">(4)    If it confers upon the assignee any power which, if exercised, might prevent or delay the immediate conversion of the assigned property to the purposes of the trust;</span></p><p dir="ltr" class="s2072336Normal-000001"><span class="s2072336DefaultParagraphFont">(5)    If it exempts him from liability for neglect of duty or misconduct.</span></p><p dir="ltr" class="s2072336Normal"><span xml:space="preserve" class="s2072336000002"> </span></p><p dir="ltr" class="s2072336Normal"><span class="s2072336SCL">Source:</span><span xml:space="preserve" class="s2072336SCL-000003"> CivC 1877, § 2030; CL 1887, § 4663; RCivC 1903, § 2375; RC 1919, § 2048; SDC 1939 &amp; Supp 1960, § 37.5103; SL 1969, ch 162, § 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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072337Normal { 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.s2072337SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072337CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072337Normal-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.s2072337DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072337000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072337SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072337SCL-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="s2072337Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-9-6"><span class="s2072337SENU">54-9-6</span></a><span xml:space="preserve" class="s2072337SENU">. </span><span class="s2072337CL">Property exempt from execution--Life insurance--Effect of assignment.</span></p><p dir="ltr" class="s2072337Normal-000000"><span class="s2072337DefaultParagraphFont">Property exempt from execution, and insurance upon the life of the assignor, to the extent of five thousand dollars, do not pass to the assignee by a general assignment for the benefit of creditors, unless the instrument specially mentions them, and declares an intention that they should pass thereby.</span></p><p dir="ltr" class="s2072337Normal"><span xml:space="preserve" class="s2072337000001"> </span></p><p dir="ltr" class="s2072337Normal"><span class="s2072337SCL">Source:</span><span xml:space="preserve" class="s2072337SCL-000002"> CivC 1877, § 2043; CL 1887, § 4677; RCivC 1903, § 2389; RC 1919, § 2062; SDC 1939 &amp; Supp 1960, § 37.5111.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072338Normal { 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.s2072338SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072338CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072338Normal-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.s2072338DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072338Normal-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; } p.s2072338Normal-000002 { text-indent: 0.25in; 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.s2072338000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072338SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072338SCL-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="s2072338Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-9-7"><span class="s2072338SENU">54-9-7</span></a><span xml:space="preserve" class="s2072338SENU">. </span><span class="s2072338CL">Inventory required of assignor--Contents--Verification.</span></p><p dir="ltr" class="s2072338Normal-000000"><span xml:space="preserve" class="s2072338DefaultParagraphFont">Within twenty days after an assignment is made for the benefit of creditors, the assignor must make and file in the manner prescribed by § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-9-8"><span class="s2072338DefaultParagraphFont">54-9-8</span></a><span class="s2072338DefaultParagraphFont">, a full and true inventory, showing:</span></p><p dir="ltr" class="s2072338Normal-000001"><span class="s2072338DefaultParagraphFont">(1)    All the creditors of the assignor;</span></p><p dir="ltr" class="s2072338Normal-000001"><span class="s2072338DefaultParagraphFont">(2)    The place of residence of each creditor, if known to the assignor, or if not known, that fact must be stated;</span></p><p dir="ltr" class="s2072338Normal-000001"><span class="s2072338DefaultParagraphFont">(3)    The sum owing to each creditor, and the nature of each debt or liability, whether arising on written security, account, or otherwise;</span></p><p dir="ltr" class="s2072338Normal-000001"><span class="s2072338DefaultParagraphFont">(4)    The true consideration of the liability in each case, and the place where it arose;</span></p><p dir="ltr" class="s2072338Normal-000001"><span class="s2072338DefaultParagraphFont">(5)    Every existing judgment, mortgage, or other security for the payment of any debt or liability of the assignor;</span></p><p dir="ltr" class="s2072338Normal-000001"><span class="s2072338DefaultParagraphFont">(6)    All property of the assignor at the date of the assignment which is exempt by law from execution;</span></p><p dir="ltr" class="s2072338Normal-000001"><span class="s2072338DefaultParagraphFont">(7)    All the assignor's property at the date of the assignment, both real and personal, of every kind not so exempt, and the encumbrances existing thereon, and all vouchers and securities relating thereto, and the value of such property according to the best knowledge of the assignor.</span></p><p dir="ltr" class="s2072338Normal-000002"><span class="s2072338DefaultParagraphFont">An affidavit must be made by every person executing an assignment for the benefit of creditors, to be annexed to and filed with the inventory, to the effect that the same is in all respects just and true, according to the best of such assignor's knowledge and belief.</span></p><p dir="ltr" class="s2072338Normal"><span xml:space="preserve" class="s2072338000003"> </span></p><p dir="ltr" class="s2072338Normal"><span class="s2072338SCL">Source:</span><span xml:space="preserve" class="s2072338SCL-000004"> CivC 1877, §§ 2034, 2035; CL 1887, §§ 4667, 4668; RCivC 1903, §§ 2379, 2380; RC 1919, §§ 2052, 2053; Supreme Court Rule 618, 1939; SDC 1939 &amp; Supp 1960, § 37.5106.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072339Normal { 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.s2072339SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072339CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072339Normal-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.s2072339DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072339000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072339SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072339SCL-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="s2072339Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-9-8"><span class="s2072339SENU">54-9-8</span></a><span xml:space="preserve" class="s2072339SENU">. </span><span class="s2072339CL">Recording assignment and filing inventory.</span></p><p dir="ltr" class="s2072339Normal-000000"><span class="s2072339DefaultParagraphFont">The assignment must be recorded and the inventory filed with the register of deeds of the county in which the assignor resided at the date of the assignment or of the county to which such county is attached for judicial purposes; or, if he did not then reside in this state, with the like officer of the county in which his principal place of business was then situated; or, if he had not then a residence or place of business in this state, with the like officer of the county in which the principal part of the assigned property was then situated. If the assignment is executed by more than one assignor, it must be recorded and a copy of the inventory must be filed with the register of deeds of every county in which any of the assignors resided at its date, or in which any of them, not then residing in this state, had then a place of business.</span></p><p dir="ltr" class="s2072339Normal"><span xml:space="preserve" class="s2072339000001"> </span></p><p dir="ltr" class="s2072339Normal"><span class="s2072339SCL">Source:</span><span xml:space="preserve" class="s2072339SCL-000002"> CivC 1877, §§ 2036, 2037; CL 1887, §§ 4669, 4670; RCivC 1903, §§ 2381, 2382; RC 1919, §§ 2054, 2055; SDC 1939 &amp; Supp 1960, § 37.5107.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072340Normal { 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.s2072340SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072340CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072340Normal-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.s2072340DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072340000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072340SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072340SCL-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="s2072340Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-9-9"><span class="s2072340SENU">54-9-9</span></a><span xml:space="preserve" class="s2072340SENU">. </span><span class="s2072340CL">Effect of omitting to record--Assignment of real property.</span></p><p dir="ltr" class="s2072340Normal-000000"><span class="s2072340DefaultParagraphFont">An assignment for the benefit of creditors is void against creditors of the assignor, and against purchasers and encumbrancers in good faith and for value, if the assignment is not recorded and the inventory filed within twenty days after the date of the assignment. Where it embraces real property it is subject to the provisions of law on recording transfers, as well as those of this chapter.</span></p><p dir="ltr" class="s2072340Normal"><span xml:space="preserve" class="s2072340000001"> </span></p><p dir="ltr" class="s2072340Normal"><span class="s2072340SCL">Source:</span><span xml:space="preserve" class="s2072340SCL-000002"> CivC 1877, §§ 2038, 2039; CL 1887, §§ 4671, 4672; RCivC 1903, §§ 2383, 2384; RC 1919, §§ 2056, 2057; SDC 1939 &amp; Supp 1960, § 37.5107.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072341Normal { 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.s2072341SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072341CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072341Normal-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.s2072341DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072341000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072341SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072341SCL-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="s2072341Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-9-10"><span class="s2072341SENU">54-9-10</span></a><span xml:space="preserve" class="s2072341SENU">. </span><span class="s2072341CL">Assent of creditors necessary to modification of assignment.</span></p><p dir="ltr" class="s2072341Normal-000000"><span class="s2072341DefaultParagraphFont">An assignment for the benefit of creditors, which has been executed and recorded so as to transfer the property to the assignee, cannot afterward be canceled or modified by the parties thereto, without the consent of every creditor affected thereby.</span></p><p dir="ltr" class="s2072341Normal"><span xml:space="preserve" class="s2072341000001"> </span></p><p dir="ltr" class="s2072341Normal"><span class="s2072341SCL">Source:</span><span xml:space="preserve" class="s2072341SCL-000002"> CivC 1877, § 2046; CL 1887, § 4680; RCivC 1903, § 2392; RC 1919, § 2065; SDC 1939 &amp; Supp 1960, § 37.5109.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072342Normal { 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.s2072342SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072342CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072342Normal-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.s2072342DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072342000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072342SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072342SCL-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="s2072342Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-9-11"><span class="s2072342SENU">54-9-11</span></a><span xml:space="preserve" class="s2072342SENU">. </span><span class="s2072342CL">Bond of assignee--Amount--Approval of sureties by circuit court--Terms and conditions.</span></p><p dir="ltr" class="s2072342Normal-000000"><span class="s2072342DefaultParagraphFont">Within thirty days after the date of an assignment for the benefit of creditors, the assignee must enter into a bond to this state, in double the amount of the value of the property assigned, with sufficient sureties, to be approved by the judge of the circuit court for the county in which the original inventory is filed, and conditioned for the faithful discharge of the trust, and due accounting for all moneys received by the assignee, which bond must be filed in the same office with the original inventory.</span></p><p dir="ltr" class="s2072342Normal"><span xml:space="preserve" class="s2072342000001"> </span></p><p dir="ltr" class="s2072342Normal"><span class="s2072342SCL">Source:</span><span xml:space="preserve" class="s2072342SCL-000002"> CivC 1877, § 2040; CL 1887, § 4673; RCivC 1903, § 2385; RC 1919, § 2058; SDC 1939 &amp; Supp 1960, § 37.5108.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072343Normal { 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.s2072343SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072343CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072343Normal-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.s2072343DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072343000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072343SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072343SCL-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="s2072343Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-9-12"><span class="s2072343SENU">54-9-12</span></a><span xml:space="preserve" class="s2072343SENU">. </span><span class="s2072343CL">Disposal or conversion of estate--Authority of assignee.</span></p><p dir="ltr" class="s2072343Normal-000000"><span class="s2072343DefaultParagraphFont">Until the inventory and affidavit have been made, and the assignment has been duly recorded and the inventory filed, and the assignee has given a bond, an assignee for the benefit of creditors has no authority to dispose of the estate or convert it for the purposes of the trust.</span></p><p dir="ltr" class="s2072343Normal"><span xml:space="preserve" class="s2072343000001"> </span></p><p dir="ltr" class="s2072343Normal"><span class="s2072343SCL">Source:</span><span xml:space="preserve" class="s2072343SCL-000002"> CivC 1877, § 2041; CL 1887, § 4674; RCivC 1903, § 2386; RC 1919, § 2059; SDC 1939 &amp; Supp 1960, § 37.5108.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072344Normal { 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.s2072344SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072344CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072344Normal-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.s2072344DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072344000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072344SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072344SCL-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="s2072344Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-9-13"><span class="s2072344SENU">54-9-13</span></a><span xml:space="preserve" class="s2072344SENU">. </span><span class="s2072344CL">Assignee takes subject to rights of third parties--Nonliability for acts done in good faith under void assignment.</span></p><p dir="ltr" class="s2072344Normal-000000"><span class="s2072344DefaultParagraphFont">An assignee for the benefit of creditors is not to be regarded as a purchaser for value, and has no greater right than his assignor had, in respect to things in action transferred by the assignment. He is not to be held liable for his acts done in good faith in the execution of the trust, merely for the reason that the assignment is afterward adjudged void.</span></p><p dir="ltr" class="s2072344Normal"><span xml:space="preserve" class="s2072344000001"> </span></p><p dir="ltr" class="s2072344Normal"><span class="s2072344SCL">Source:</span><span xml:space="preserve" class="s2072344SCL-000002"> CivC 1877, §§ 2033, 2045; CL 1887, §§ 4666, 4679; RCivC 1903, §§ 2378, 2391; RC 1919, §§ 2051, 2064; SDC 1939 &amp; Supp 1960, § 37.5105.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072345Normal { 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.s2072345SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072345CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072345Normal-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.s2072345DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072345000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072345SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072345SCL-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="s2072345Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-9-13.1"><span class="s2072345SENU">54-9-13.1</span></a><span xml:space="preserve" class="s2072345SENU">. </span><span class="s2072345CL">Action by assignee against person receiving property of debtor in fraud of creditors.</span></p><p dir="ltr" class="s2072345Normal-000000"><span class="s2072345DefaultParagraphFont">In addition to those otherwise provided in this chapter, the court shall have power to authorize an assignee to bring an action or special proceeding, which he is hereby empowered to maintain, against any person who has received, taken or in any manner interfered with the estate, property or effects of the debtor in fraud of his creditors and which might have been avoided by a creditor of the assignor and the assignee may recover the property so transferred or its value.</span></p><p dir="ltr" class="s2072345Normal"><span xml:space="preserve" class="s2072345000001"> </span></p><p dir="ltr" class="s2072345Normal"><span class="s2072345SCL">Source:</span><span xml:space="preserve" class="s2072345SCL-000002"> SDC Supp 1960, ch 37.51 as added by SL 1969, ch 162, § 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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072346Normal { 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.s2072346SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072346CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072346Normal-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.s2072346DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072346000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072346SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072346SCL-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="s2072346Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-9-13.2"><span class="s2072346SENU">54-9-13.2</span></a><span xml:space="preserve" class="s2072346SENU">. </span><span class="s2072346CL">Action by assignee against creditor receiving voluntary transfer from insolvent assignor.</span></p><p dir="ltr" class="s2072346Normal-000000"><span xml:space="preserve" class="s2072346DefaultParagraphFont">In addition to those otherwise provided in this chapter, the court may authorize an assignee to bring an action, which he is hereby empowered to maintain, against any person, who with reasonable cause to believe the assignor was insolvent as defined in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-8A-2"><span class="s2072346DefaultParagraphFont">54-8A-2</span></a><span class="s2072346DefaultParagraphFont">, has within four months of the assignment received a voluntary transfer from the assignor of money or property for or on account of an antecedent debt, the effect of which transfer is to enable the creditor to obtain a greater percentage of his debt than some other creditor of the same class, and the assignee may recover the property so transferred or its value. For the purpose of this section a transfer shall be deemed to have been made when it is so far perfected that no creditor having a judgment on a simple contract without special priority (whether or not such a creditor exists) could have obtained an interest superior to that of the transferee therein. A transfer not so perfected prior to the assignment shall be deemed to have been made immediately before the assignment.</span></p><p dir="ltr" class="s2072346Normal"><span xml:space="preserve" class="s2072346000001"> </span></p><p dir="ltr" class="s2072346Normal"><span class="s2072346SCL">Source:</span><span xml:space="preserve" class="s2072346SCL-000002"> SDC Supp 1960, ch 37.51 as added by SL 1969, ch 162, § 3; SL 1990, ch 30, § 16.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072347Normal { 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.s2072347SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072347CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072347Normal-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.s2072347DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072347000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072347SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072347SCL-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="s2072347Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-9-13.3"><span class="s2072347SENU">54-9-13.3</span></a><span xml:space="preserve" class="s2072347SENU">. </span><span class="s2072347CL">Duties of assignee.</span></p><p dir="ltr" class="s2072347Normal-000000"><span class="s2072347DefaultParagraphFont">It shall be the duty of the assignee to collect and reduce to money the property of the estate, under the direction of the court; to report promptly to the court any claims presented to him which are not provable, or are incorrect or false and shall also report promptly for allowance all claims presented to him which are not disputed; close up the estate as expeditiously as possible; furnish such information concerning the estate as may be requested by parties in interest; keep regular accounts; pay dividends as often as is compatible with the best interest of the estate; make appraisals or in his discretion employ an appraiser or appraisers; and designate and employ auctioneers.</span></p><p dir="ltr" class="s2072347Normal"><span xml:space="preserve" class="s2072347000001"> </span></p><p dir="ltr" class="s2072347Normal"><span class="s2072347SCL">Source:</span><span xml:space="preserve" class="s2072347SCL-000002"> SDC Supp 1960, ch 37.51 as added by SL 1969, ch 162, § 4.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072348Normal { 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.s2072348SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072348CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072348Normal-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.s2072348DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072348000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072348SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072348SCL-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="s2072348Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-9-13.4"><span class="s2072348SENU">54-9-13.4</span></a><span xml:space="preserve" class="s2072348SENU">. </span><span class="s2072348CL">Notice to creditors to present verified claims--Publication.</span></p><p dir="ltr" class="s2072348Normal-000000"><span class="s2072348DefaultParagraphFont">The judge may, upon the petition of the assignee, authorize him to advertise for creditors not named in the inventory to present to him their claims, with the vouchers therefor, duly verified, on or before a day to be specified in such advertisement, not less than four months from the recordation of the assignment, which advertisement or notice shall be published in at least one legal newspaper, to be designated by the judge, as most likely to give notice to the persons to be served, at least once and such additional times as the judge may direct; the last publication shall be at least one week prior to the date specified.</span></p><p dir="ltr" class="s2072348Normal"><span xml:space="preserve" class="s2072348000001"> </span></p><p dir="ltr" class="s2072348Normal"><span class="s2072348SCL">Source:</span><span xml:space="preserve" class="s2072348SCL-000002"> SDC Supp 1960, ch 37.51 as added by SL 1969, ch 162, § 5.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072349Normal { 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.s2072349SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072349CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072349Normal-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.s2072349DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072349Normal-000001 { margin-top: 0; margin-bottom: 0; text-indent: 0.25in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2072349000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072349SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072349SCL-000003 { 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="s2072349Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-9-13.5"><span class="s2072349SENU">54-9-13.5</span></a><span xml:space="preserve" class="s2072349SENU">. </span><span class="s2072349CL">Contents of creditor's claim--Claim founded upon instrument.</span></p><p dir="ltr" class="s2072349Normal-000000"><span xml:space="preserve" class="s2072349DefaultParagraphFont">The verified claim of a creditor as provided in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-9-13.4"><span class="s2072349DefaultParagraphFont">54-9-13.4</span></a><span xml:space="preserve" class="s2072349DefaultParagraphFont"> shall set forth whether any, and if so, what securities are held for such claim, and whether any, and, if so, what payments have been made thereon.</span></p><p dir="ltr" class="s2072349Normal-000001"><span class="s2072349DefaultParagraphFont">Whenever a claim is founded upon an instrument in writing, such instrument, unless lost or destroyed, shall be filed with the claim. After the claim is allowed or disallowed, such instrument may be withdrawn by permission of the court. If such instrument is lost or destroyed, a statement of such fact and of the circumstances of such loss or destruction shall be filed under oath with the claim.</span></p><p dir="ltr" class="s2072349Normal"><span xml:space="preserve" class="s2072349000002"> </span></p><p dir="ltr" class="s2072349Normal"><span class="s2072349SCL">Source:</span><span xml:space="preserve" class="s2072349SCL-000003"> SDC Supp 1960, ch 37.51 as added by SL 1969, ch 162, § 5.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072350Normal { 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.s2072350SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072350CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072350Normal-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.s2072350DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072350000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072350SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072350SCL-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="s2072350Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-9-13.6"><span class="s2072350SENU">54-9-13.6</span></a><span xml:space="preserve" class="s2072350SENU">. </span><span class="s2072350CL">Time limitation on filing creditor's claim.</span></p><p dir="ltr" class="s2072350Normal-000000"><span xml:space="preserve" class="s2072350DefaultParagraphFont">All claims whether the same be due, not due, or contingent, must be filed within the time limited in the notice as provided in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-9-13.4"><span class="s2072350DefaultParagraphFont">54-9-13.4</span></a><span class="s2072350DefaultParagraphFont">, and any claim not so filed is barred from any further claim against the property assigned. When it is made to appear by the affidavit of the claimant to the satisfaction of the court that he had no notice by reason of being out of the state, it may be filed at any time, before a decree of distribution is entered.</span></p><p dir="ltr" class="s2072350Normal"><span xml:space="preserve" class="s2072350000001"> </span></p><p dir="ltr" class="s2072350Normal"><span class="s2072350SCL">Source:</span><span xml:space="preserve" class="s2072350SCL-000002"> SDC Supp 1960, ch 37.51 as added by SL 1969, ch 162, § 5.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072351Normal { 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.s2072351SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072351CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072351Normal-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.s2072351DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072351000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072351SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072351SCL-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="s2072351Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-9-13.7"><span class="s2072351SENU">54-9-13.7</span></a><span xml:space="preserve" class="s2072351SENU">. </span><span class="s2072351CL">Wages and commissions as preferred claims--Limitation on amount--"Traveling or city salesmen" defined.</span></p><p dir="ltr" class="s2072351Normal-000000"><span class="s2072351DefaultParagraphFont">In all distributions of assets under all assignments made in pursuance of this chapter, the wages and commissions, not to exceed six hundred dollars to each claimant, which have been earned within three months before the date of the commencement of the proceedings, due to workmen, servants, clerks, or traveling or city salesmen on salary or commission basis, whole or part time, whether or not selling exclusively for the assignor; and for the purposes of this claim, the term "traveling or city salesmen" shall include all salesmen, whether or not they are independent contractors selling the products or service of the assignor on a commission basis, with or without a drawing account or formal contract, shall be preferred before any other debt, except debts due to the United States having a priority under federal law; and should the assets of the assignor or assignors not be sufficient to pay in full all the claims preferred, pursuant to this section, they shall be applied to the payment of the same pro rata to the amount of each such claim.</span></p><p dir="ltr" class="s2072351Normal"><span xml:space="preserve" class="s2072351000001"> </span></p><p dir="ltr" class="s2072351Normal"><span class="s2072351SCL">Source:</span><span xml:space="preserve" class="s2072351SCL-000002"> SDC Supp 1960, ch 37.51 as added by SL 1969, ch 162, § 8.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072352Normal { 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.s2072352SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072352CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072352Normal-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.s2072352DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072352000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072352SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072352SCL-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="s2072352Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-9-13.8"><span class="s2072352SENU">54-9-13.8</span></a><span xml:space="preserve" class="s2072352SENU">. </span><span class="s2072352CL">Sale or compromise of claims or property of estate--Liability of assignee.</span></p><p dir="ltr" class="s2072352Normal-000000"><span class="s2072352DefaultParagraphFont">The judge may, upon the application of the assignee and for good and sufficient cause shown, and upon such terms as he may direct, authorize the assignee to sell, compromise or compound any claim or debt belonging to the estate of the debtor. But such authority shall not prevent any party interested in the trust estate from showing upon the final accounting of such assignee that such debt or claim was fraudulently or negligently sold, compounded or compromised. The sale of any debt or claim heretofore made in good faith by any assignee shall be valid, subject, however, to the approval of the judge, and the assignee shall be charged with and be liable for, as part of the trust fund, any sum which might or ought to have been collected by him.</span></p><p dir="ltr" class="s2072352Normal"><span xml:space="preserve" class="s2072352000001"> </span></p><p dir="ltr" class="s2072352Normal"><span class="s2072352SCL">Source:</span><span xml:space="preserve" class="s2072352SCL-000002"> SDC Supp 1960, ch 37.51 as added by SL 1969, ch 162, § 6.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072353Normal { 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.s2072353SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072353CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072353Normal-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.s2072353DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072353000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072353SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072353SCL-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="s2072353Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-9-13.9"><span class="s2072353SENU">54-9-13.9</span></a><span xml:space="preserve" class="s2072353SENU">. </span><span class="s2072353CL">Sales at public auction--Procedure for private sales and sales of perishable property.</span></p><p dir="ltr" class="s2072353Normal-000000"><span xml:space="preserve" class="s2072353DefaultParagraphFont">All sales as provided in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-9-13.8"><span class="s2072353DefaultParagraphFont">54-9-13.8</span></a><span xml:space="preserve" class="s2072353DefaultParagraphFont"> shall be had at public auction unless otherwise ordered by the judge. Upon application to the judge, and for good cause shown, the assignee may be authorized to sell any portion of the estate at private sale; in which case he shall keep an accurate record of each article sold, and the price received therefor, and to whom sold; which account he shall file at once. Upon application by the assignee or a creditor setting forth that a part or the whole of the estate is perishable, the nature and location of such perishable property, and that there will be loss if the same is not sold immediately, the judge, if satisfied of the facts stated and that the sale is required in the interest of the estate, may order the same to be sold with or without notice to creditors.</span></p><p dir="ltr" class="s2072353Normal"><span xml:space="preserve" class="s2072353000001"> </span></p><p dir="ltr" class="s2072353Normal"><span class="s2072353SCL">Source:</span><span xml:space="preserve" class="s2072353SCL-000002"> SDC Supp 1960, ch 37.51 as added by SL 1969, ch 162, § 6.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072354Normal { 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.s2072354SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072354CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072354Normal-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.s2072354DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072354000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072354SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072354SCL-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="s2072354Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-9-14"><span class="s2072354SENU">54-9-14</span></a><span xml:space="preserve" class="s2072354SENU">. </span><span class="s2072354CL">Compensation of assignee.</span></p><p dir="ltr" class="s2072354Normal-000000"><span class="s2072354DefaultParagraphFont">In the absence of any provision in the assignment to the contrary, an assignee for the benefit of creditors is entitled to the same commissions as are allowed by law to personal representatives; but the assignment cannot grant more, and may restrict the commissions to a less amount, or deny them altogether.</span></p><p dir="ltr" class="s2072354Normal"><span xml:space="preserve" class="s2072354000001"> </span></p><p dir="ltr" class="s2072354Normal"><span class="s2072354SCL">Source:</span><span xml:space="preserve" class="s2072354SCL-000002"> CivC 1877, § 2044; CL 1887, § 4678; RCivC 1903, § 2390; RC 1919, § 2063; SDC 1939 &amp; Supp 1960, § 37.5112.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072355Normal { 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.s2072355SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072355CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072355Normal-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.s2072355DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072355000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072355SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072355SCL-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="s2072355Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-9-15"><span class="s2072355SENU">54-9-15</span></a><span xml:space="preserve" class="s2072355SENU">. </span><span class="s2072355CL">Proceeding subject to order and supervision of circuit court--Rendition of accounts and filing of reports by assignee--Distribution of trust estate.</span></p><p dir="ltr" class="s2072355Normal-000000"><span class="s2072355DefaultParagraphFont">All proceedings under this chapter shall be subject to the order and supervision of the judge of the circuit court for the county in which such assignment was made. The judge may from time to time, in his discretion, upon his own motion or on the petition of one or more of the creditors, by order, citation, attachment, or otherwise, require any assignee or assignees to render accounts and file reports of his or their proceedings and of the conditions of such trust estate, and may order or decree distribution thereof.</span></p><p dir="ltr" class="s2072355Normal"><span xml:space="preserve" class="s2072355000001"> </span></p><p dir="ltr" class="s2072355Normal"><span class="s2072355SCL">Source:</span><span xml:space="preserve" class="s2072355SCL-000002"> SL 1887, ch 8, § 1; SL 1887, ch 9, § 1; CL 1887, § 4675; RCivC 1903, § 2387; RC 1919, § 2060; SDC 1939 &amp; Supp 1960, § 37.5110; SL 1969, ch 162, § 2.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072356Normal { 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.s2072356SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072356CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072356Normal-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.s2072356DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072356000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072356SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072356SCL-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="s2072356Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-9-15.1"><span class="s2072356SENU">54-9-15.1</span></a><span xml:space="preserve" class="s2072356SENU">. </span><span class="s2072356CL">Power of court to take and state accounts.</span></p><p dir="ltr" class="s2072356Normal-000000"><span class="s2072356DefaultParagraphFont">In addition to those otherwise provided in this chapter, the court shall have power to take and state accounts hereunder or to appoint referees to take and state accounts.</span></p><p dir="ltr" class="s2072356Normal"><span xml:space="preserve" class="s2072356000001"> </span></p><p dir="ltr" class="s2072356Normal"><span class="s2072356SCL">Source:</span><span xml:space="preserve" class="s2072356SCL-000002"> SDC Supp 1960, ch 37.51 as added by SL 1969, ch 162, § 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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072357Normal { 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.s2072357SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072357CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072357Normal-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.s2072357DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072357000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072357SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072357SCL-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="s2072357Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-9-15.2"><span class="s2072357SENU">54-9-15.2</span></a><span xml:space="preserve" class="s2072357SENU">. </span><span class="s2072357CL">Accountants and attorneys appointed by court--Compensation of attorneys.</span></p><p dir="ltr" class="s2072357Normal-000000"><span class="s2072357DefaultParagraphFont">In addition to those otherwise provided in this chapter, the court shall have power to appoint accountants and attorneys, including attorneys to represent creditors therein and to fix their compensation. Reasonable compensation may be allowed by the court for counsel fees in preparation of the instrument of assignment.</span></p><p dir="ltr" class="s2072357Normal"><span xml:space="preserve" class="s2072357000001"> </span></p><p dir="ltr" class="s2072357Normal"><span class="s2072357SCL">Source:</span><span xml:space="preserve" class="s2072357SCL-000002"> SDC Supp 1960, ch 37.51 as added by SL 1969, ch 162, § 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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072358Normal { 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.s2072358SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072358CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072358Normal-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.s2072358DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072358000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072358SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072358SCL-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="s2072358Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-9-16"><span class="s2072358SENU">54-9-16</span></a><span xml:space="preserve" class="s2072358SENU">. </span><span class="s2072358CL">Accounting of assignee.</span></p><p dir="ltr" class="s2072358Normal-000000"><span class="s2072358DefaultParagraphFont">After the lapse of six months from the date of filing his bond, the assignee, on motion of any one of the creditors, with ten days' notice, accompanied by an affidavit of the creditor, his agent, or attorney, setting forth his claim and the amount thereof, and that no account has been filed within six months, may be ordered by the circuit court or by the judge thereof, at any place in his judicial circuit, to render an account of his proceedings, within a given time to be fixed by the court or the judge thereof, not to exceed fifteen days.</span></p><p dir="ltr" class="s2072358Normal"><span xml:space="preserve" class="s2072358000001"> </span></p><p dir="ltr" class="s2072358Normal"><span class="s2072358SCL">Source:</span><span xml:space="preserve" class="s2072358SCL-000002"> CivC 1877, § 2042; SL 1887, ch 8, § 1; SL 1887, ch 9, § 1; CL 1887, § 4675; RCivC 1903, § 2387; RC 1919, § 2060; SDC 1939 &amp; Supp 1960, § 37.5110.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072359Normal { 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.s2072359SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072359CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072359Normal-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.s2072359DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072359000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072359SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072359SCL-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="s2072359Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-9-16.1"><span class="s2072359SENU">54-9-16.1</span></a><span xml:space="preserve" class="s2072359SENU">. </span><span class="s2072359CL">Deposit of funds in court for distribution subsequent to discharge of assignee.</span></p><p dir="ltr" class="s2072359Normal-000000"><span class="s2072359DefaultParagraphFont">If, in his final accounting, the assignee shall set forth that for any cause distribution cannot be made to any creditor or creditors, the court may order the funds due them deposited with the clerk of the court for future distribution upon further order of the court subsequent to the discharge of the assignee.</span></p><p dir="ltr" class="s2072359Normal"><span xml:space="preserve" class="s2072359000001"> </span></p><p dir="ltr" class="s2072359Normal"><span class="s2072359SCL">Source:</span><span xml:space="preserve" class="s2072359SCL-000002"> SDC Supp 1960, ch 37.51 as added by SL 1969, ch 162, § 7.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072360Normal { 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.s2072360SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072360CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072360Normal-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.s2072360DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072360000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072360SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072360SCL-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="s2072360Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-9-17"><span class="s2072360SENU">54-9-17</span></a><span xml:space="preserve" class="s2072360SENU">. </span><span class="s2072360CL">Removal of assignee by circuit court--Appointment and delivery of property to successor.</span></p><p dir="ltr" class="s2072360Normal-000000"><span class="s2072360DefaultParagraphFont">The judge of the circuit court may, in his discretion, for cause shown, remove any assignee or assignees and appoint another or others instead, who shall give such bonds as the judge, in view of the conditions and value of the estate, may direct; and such order of removal and appointment shall in terms transfer to such new assignee or assignees all the trust estate, real, personal, and mixed, and may be recorded in the deed records in the office of register of deeds of any county wherein any real estate affected by the assignment may be situated. Such judge may by order, which may be enforced as upon proceedings for contempt, compel the assignee or assignees so removed to deliver all property, money, choses in action, book accounts, and vouchers, to the assignee or assignees so appointed, and to make, execute, and deliver to such new assignee or assignees such deeds, assignments, and transfers as such judge may deem proper, and to render a full account and report of all matters connected with such trust estate.</span></p><p dir="ltr" class="s2072360Normal"><span xml:space="preserve" class="s2072360000001"> </span></p><p dir="ltr" class="s2072360Normal"><span class="s2072360SCL">Source:</span><span xml:space="preserve" class="s2072360SCL-000002"> SL 1887, ch 8, § 1; SL 1887, ch 9, § 1; CL 1887, § 4675; RCivC 1903, § 2387; RC 1919, § 2060; SDC 1939 &amp; Supp 1960, § 37.5110.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072361Normal { 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.s2072361SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072361CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072361Normal-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.s2072361DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072361000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072361SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072361SCL-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="s2072361Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-9-18"><span class="s2072361SENU">54-9-18</span></a><span xml:space="preserve" class="s2072361SENU">. </span><span class="s2072361CL">Removal of assignee by circuit court--Discharge on full accounting and surrender of property to new assignee.</span></p><p dir="ltr" class="s2072361Normal-000000"><span class="s2072361DefaultParagraphFont">Whenever any assignee so removed shall have fully accounted for and turned over to the assignee or assignees appointed by the judge all the trust estate and made a full report of all his doings, and complied with all orders of the judge touching such estate, he may by order of the judge be fully discharged from all further duties, liabilities, and responsibilities connected with the trust.</span></p><p dir="ltr" class="s2072361Normal"><span xml:space="preserve" class="s2072361000001"> </span></p><p dir="ltr" class="s2072361Normal"><span class="s2072361SCL">Source:</span><span xml:space="preserve" class="s2072361SCL-000002"> SL 1887, ch 8, § 1; SL 1887, ch 9, § 1; CL 1887, § 4675; RCivC 1903, § 2387; RC 1919, § 2060; SDC 1939 &amp; Supp 1960, § 37.5110.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072362Normal { 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.s2072362SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072362CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072362Normal-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.s2072362DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072362000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072362SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072362SCL-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="s2072362Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-9-19"><span class="s2072362SENU">54-9-19</span></a><span xml:space="preserve" class="s2072362SENU">. </span><span class="s2072362CL">Discharge of assignee upon full compliance with trust.</span></p><p dir="ltr" class="s2072362Normal-000000"><span class="s2072362DefaultParagraphFont">Whenever an assignee has fully complied with his trust, he may by order of the judge be fully discharged from all further duties, liabilities, and responsibilities connected with the trust.</span></p><p dir="ltr" class="s2072362Normal"><span xml:space="preserve" class="s2072362000001"> </span></p><p dir="ltr" class="s2072362Normal"><span class="s2072362SCL">Source:</span><span xml:space="preserve" class="s2072362SCL-000002"> SL 1887, ch 8, § 1; SL 1887, ch 9, § 1; CL 1887, § 4675; RCivC 1903, § 2387; RC 1919, § 2060; SDC 1939 &amp; Supp 1960, § 37.5110.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072363Normal { 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.s2072363SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072363CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072363Normal-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.s2072363DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072363000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072363SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072363SCL-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="s2072363Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-9-20"><span class="s2072363SENU">54-9-20</span></a><span xml:space="preserve" class="s2072363SENU">. </span><span class="s2072363CL">Application of assignee for discharge--Notice by publication.</span></p><p dir="ltr" class="s2072363Normal-000000"><span xml:space="preserve" class="s2072363DefaultParagraphFont">In either of the cases mentioned in §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-9-18"><span class="s2072363DefaultParagraphFont">54-9-18</span></a><span xml:space="preserve" class="s2072363DefaultParagraphFont"> and </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-9-19"><span class="s2072363DefaultParagraphFont">54-9-19</span></a><span xml:space="preserve" class="s2072363DefaultParagraphFont"> the assignee shall give notice by publication in some newspaper of the county, if there be one printed and published therein, if not, in a newspaper published at the capital of the state, once in each week, for at least three weeks, that he will apply to the judge of the circuit court for such discharge, at a time and place to be stated in such notice, which time shall not be more than three weeks after the last publication of the notice.</span></p><p dir="ltr" class="s2072363Normal"><span xml:space="preserve" class="s2072363000001"> </span></p><p dir="ltr" class="s2072363Normal"><span class="s2072363SCL">Source:</span><span xml:space="preserve" class="s2072363SCL-000002"> SL 1887, ch 8, § 1; SL 1887, ch 9, § 1; CL 1887, § 4675; RCivC 1903, § 2387; RC 1919, § 2060; SDC 1939 &amp; Supp 1960, § 37.5110.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072364Normal { 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.s2072364SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072364CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072364Normal-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.s2072364DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072364000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072364SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072364SCL-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="s2072364Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-9-21"><span class="s2072364SENU">54-9-21</span></a><span xml:space="preserve" class="s2072364SENU">. </span><span class="s2072364CL">Hearing upon application of assignee for discharge--Order requiring the performance of acts not completed--Order of discharge, granting, effect.</span></p><p dir="ltr" class="s2072364Normal-000000"><span class="s2072364DefaultParagraphFont">If, upon the hearing, the judge shall be satisfied that the assignee is entitled to be discharged, he shall make an order accordingly; or if, in the opinion of the judge, anything remains to be done by such assignee, he may require the performance thereof before making such order. Such order shall have the effect of discharging the assignee and his sureties from all further responsibility in respect to the trust, and such order shall not be refused on account of any failure on the part of the assignee to comply with any formal provision of law, where no loss or damage to anyone shall have occurred through such failure.</span></p><p dir="ltr" class="s2072364Normal"><span xml:space="preserve" class="s2072364000001"> </span></p><p dir="ltr" class="s2072364Normal"><span class="s2072364SCL">Source:</span><span xml:space="preserve" class="s2072364SCL-000002"> SL 1887, ch 8, § 1; SL 1887, ch 9, § 1; CL 1887, § 4675; RCivC 1903, § 2387; RC 1919, § 2060; SDC 1939 &amp; Supp 1960, § 37.5110.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072365Normal { 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.s2072365SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072365CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072365Normal-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.s2072365DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072365000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072365SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072365SCL-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="s2072365Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-9-22"><span class="s2072365SENU">54-9-22</span></a><span xml:space="preserve" class="s2072365SENU">. </span><span class="s2072365CL">Federal bankruptcy proceedings, possession of estate taken from assignee--Discharge of assignee on full accounting to trustee in bankruptcy.</span></p><p dir="ltr" class="s2072365Normal-000000"><span class="s2072365DefaultParagraphFont">Whenever the trust estate shall have been taken out of the hands of the assignee by proceedings in bankruptcy in the federal court, the assignee may in like manner be discharged, upon showing that he has fully accounted to the trustee in bankruptcy, and turned over to him the whole of the trust estate.</span></p><p dir="ltr" class="s2072365Normal"><span xml:space="preserve" class="s2072365000001"> </span></p><p dir="ltr" class="s2072365Normal"><span class="s2072365SCL">Source:</span><span xml:space="preserve" class="s2072365SCL-000002"> SL 1887, ch 8, § 1; SL 1887, ch 9, § 1; CL 1887, § 4675; RCivC 1903, § 2387; RC 1919, § 2060; SDC 1939 &amp; Supp 1960, § 37.5110.</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 - DEBTOR AND CREDITOR 54-10 SECURED CREDITORS' CLAIMS IN LIQUIDATION PROCEEDINGS </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 54-10 SECURED CREDITORS' CLAIMS IN LIQUIDATION PROCEEDINGS "> <META NAME="Description" Content="South Dakota Codified Laws 54-10"> </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: HG4 --><Div align="center"><!-- WP Style End: HG4 --> CHAPTER 54-10 <!-- WP Paired Style Off: HG4 --><!-- WP Style End: HG4 --> </Div> <br> <!-- WP Paired Style On: HG4C --><Div align="center"><!-- WP Style End: HG4C --> SECURED CREDITORS' CLAIMS IN LIQUIDATION PROCEEDINGS <!-- WP Paired Style Off: HG4C --><!-- WP Style End: HG4C --> </Div> <br> <p> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-10-1">54-10-1</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Definition of terms. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-10-2">54-10-2</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Secured creditor's claim against general assets--Disclosure of nature of security. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-10-3">54-10-3</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Failure of secured creditor to disclose existence of security--Effect of concealment. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-10-4">54-10-4</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Dividends to secured creditors--Computation. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-10-5">54-10-5</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Obligation for payment of money as security--Determination of value. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-10-6">54-10-6</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Security other than obligation for the payment of money--Determination of value. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-10-7">54-10-7</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Statutory provisions for determination of value of obligations impracticable or resulting in undue delay--Alternative method for determination of value. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-10-8">54-10-8</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Value of security, determination by compromise--Redemption of assets by liquidator. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-10-9">54-10-9</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Value of security, determination by litigation--Redemption of assets by liquidator. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-10-10">54-10-10</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Value of security, determination by liquidator's sale of assets--Order of sale, requirements. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-10-11">54-10-11</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Value of exempt security not credited upon claim. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-10-12">54-10-12</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Application of chapter to existing transactions. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-10-13">54-10-13</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Uniformity of interpretation of chapter. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-10-14">54-10-14</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Citation of chapter. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072367Normal { 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.s2072367SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072367CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072367Normal-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.s2072367DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072367Normal-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.s2072367000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072367SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072367SCL-000003 { 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="s2072367Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-10-1"><span class="s2072367SENU">54-10-1</span></a><span xml:space="preserve" class="s2072367SENU">. </span><span class="s2072367CL">Definition of terms.</span></p><p dir="ltr" class="s2072367Normal-000000"><span class="s2072367DefaultParagraphFont">Terms used in this chapter mean:</span></p><p dir="ltr" class="s2072367Normal-000001"><span class="s2072367DefaultParagraphFont">(1)    "Creditor's sale," any sale effected by the secured creditor by judicial process or otherwise under the terms of his contract or the applicable law for the purpose of realizing upon his security;</span></p><p dir="ltr" class="s2072367Normal-000001"><span class="s2072367DefaultParagraphFont">(2)    "Insolvent debtor," any insolvent person, decedent's estate, partnership, limited liability company, corporation or business association involved in a liquidation proceeding as defined in this chapter;</span></p><p dir="ltr" class="s2072367Normal-000001"><span class="s2072367DefaultParagraphFont">(3)    "Liquidation proceedings," all assignments for the benefit of creditors, whether voluntary or by operation of law; administration of insolvent decedents' estate; liquidations of insolvent banks; equity receiverships where the subject under receivership is insolvent; and any other proceedings for distribution of assets of any insolvent debtor, whether a person, decedent's estate, partnership, limited liability company, corporation or business association;</span></p><p dir="ltr" class="s2072367Normal-000001"><span class="s2072367DefaultParagraphFont">(4)    "Liquidator," any person administering assets in any liquidation proceeding as defined in this chapter; and</span></p><p dir="ltr" class="s2072367Normal-000001"><span class="s2072367DefaultParagraphFont">(5)    "Secured creditor," a creditor who has either legal or equitable security for the creditor's debt upon any property of the insolvent debtor of a nature to be liquidated and distributed in a liquidation proceeding, or a creditor to whom is owed a debt for which such security is possessed by some endorser, surety, or other person secondarily liable.</span></p><p dir="ltr" class="s2072367Normal"><span xml:space="preserve" class="s2072367000002"> </span></p><p dir="ltr" class="s2072367Normal"><span class="s2072367SCL">Source:</span><span xml:space="preserve" class="s2072367SCL-000003"> SL 1941, ch 162, § 1; SDC Supp 1960, § 37.26A01; SL 1994, ch 351, § 153.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072368Normal { 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.s2072368SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072368CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072368Normal-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.s2072368DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072368000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072368SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072368SCL-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="s2072368Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-10-2"><span class="s2072368SENU">54-10-2</span></a><span xml:space="preserve" class="s2072368SENU">. </span><span class="s2072368CL">Secured creditor's claim against general assets--Disclosure of nature of security.</span></p><p dir="ltr" class="s2072368Normal-000000"><span class="s2072368DefaultParagraphFont">In a liquidation proceeding every secured creditor's claim against the general assets shall disclose the nature of the security. When a decedent's estate already in the course of administration is judicially declared insolvent or when in an equity receivership it is determined that the subject under receivership is insolvent, secured creditors having claims on file which do not comply with this section shall make disclosure within a time to be fixed by the court.</span></p><p dir="ltr" class="s2072368Normal"><span xml:space="preserve" class="s2072368000001"> </span></p><p dir="ltr" class="s2072368Normal"><span class="s2072368SCL">Source:</span><span xml:space="preserve" class="s2072368SCL-000002"> SL 1941, ch 162, § 2; SDC Supp 1960, § 37.26A02.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072369Normal { 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.s2072369SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072369CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072369Normal-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.s2072369DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072369000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072369SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072369SCL-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="s2072369Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-10-3"><span class="s2072369SENU">54-10-3</span></a><span xml:space="preserve" class="s2072369SENU">. </span><span class="s2072369CL">Failure of secured creditor to disclose existence of security--Effect of concealment.</span></p><p dir="ltr" class="s2072369Normal-000000"><span class="s2072369DefaultParagraphFont">Any secured creditor who with intent to evade the provisions of this chapter fails to disclose the existence of the security shall not be entitled to receive or retain dividends out of the general assets, unless he thereafter releases or surrenders to the liquidator the security which he has failed to disclose, or unless he procures such release or surrender if the security is in the possession of an endorser, surety, or other person secondarily liable for the insolvent debtor.</span></p><p dir="ltr" class="s2072369Normal"><span xml:space="preserve" class="s2072369000001"> </span></p><p dir="ltr" class="s2072369Normal"><span class="s2072369SCL">Source:</span><span xml:space="preserve" class="s2072369SCL-000002"> SL 1941, ch 162, § 3; SDC Supp 1960, § 37.26A03.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072370Normal { 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.s2072370SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072370CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072370Normal-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.s2072370DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072370000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072370SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072370SCL-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="s2072370Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-10-4"><span class="s2072370SENU">54-10-4</span></a><span xml:space="preserve" class="s2072370SENU">. </span><span class="s2072370CL">Dividends to secured creditors--Computation.</span></p><p dir="ltr" class="s2072370Normal-000000"><span class="s2072370DefaultParagraphFont">Dividends paid to secured creditors shall be computed only upon the balance due after the value of all security not exempt from the claims of unsecured creditors and not released or surrendered to the liquidator, is determined and credited upon the claim secured by it.</span></p><p dir="ltr" class="s2072370Normal"><span xml:space="preserve" class="s2072370000001"> </span></p><p dir="ltr" class="s2072370Normal"><span class="s2072370SCL">Source:</span><span xml:space="preserve" class="s2072370SCL-000002"> SL 1941, ch 162, § 4; SDC Supp 1960, § 37.26A04.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072371Normal { 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.s2072371SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072371CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072371Normal-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.s2072371DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072371000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072371SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072371SCL-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="s2072371Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-10-5"><span class="s2072371SENU">54-10-5</span></a><span xml:space="preserve" class="s2072371SENU">. </span><span class="s2072371CL">Obligation for payment of money as security--Determination of value.</span></p><p dir="ltr" class="s2072371Normal-000000"><span class="s2072371DefaultParagraphFont">When the asset constituting the security is an obligation for the payment of money, the secured creditor may determine its value by collection or by exhausting his remedies thereon and then surrendering the obligation to the liquidator.</span></p><p dir="ltr" class="s2072371Normal"><span xml:space="preserve" class="s2072371000001"> </span></p><p dir="ltr" class="s2072371Normal"><span class="s2072371SCL">Source:</span><span xml:space="preserve" class="s2072371SCL-000002"> SL 1941, ch 162, § 5; SDC Supp 1960, § 37.26A05 (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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072372Normal { 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.s2072372SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072372CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072372Normal-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.s2072372DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072372000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072372SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072372SCL-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="s2072372Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-10-6"><span class="s2072372SENU">54-10-6</span></a><span xml:space="preserve" class="s2072372SENU">. </span><span class="s2072372CL">Security other than obligation for the payment of money--Determination of value.</span></p><p dir="ltr" class="s2072372Normal-000000"><span class="s2072372DefaultParagraphFont">When the asset constituting the security is something other than an obligation for the payment of money, the secured creditor may determine its value by creditor's sale.</span></p><p dir="ltr" class="s2072372Normal"><span xml:space="preserve" class="s2072372000001"> </span></p><p dir="ltr" class="s2072372Normal"><span class="s2072372SCL">Source:</span><span xml:space="preserve" class="s2072372SCL-000002"> SL 1941, ch 162, § 5; SDC Supp 1960, § 37.26A05 (2).</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072373Normal { 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.s2072373SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072373CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072373Normal-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.s2072373DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072373000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072373SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072373SCL-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="s2072373Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-10-7"><span class="s2072373SENU">54-10-7</span></a><span xml:space="preserve" class="s2072373SENU">. </span><span class="s2072373CL">Statutory provisions for determination of value of obligations impracticable or resulting in undue delay--Alternative method for determination of value.</span></p><p dir="ltr" class="s2072373Normal-000000"><span xml:space="preserve" class="s2072373DefaultParagraphFont">Where valuation under the provisions of §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-10-5"><span class="s2072373DefaultParagraphFont">54-10-5</span></a><span xml:space="preserve" class="s2072373DefaultParagraphFont"> and </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-10-6"><span class="s2072373DefaultParagraphFont">54-10-6</span></a><span xml:space="preserve" class="s2072373DefaultParagraphFont"> is impracticable or would cause undue delay, the court, upon petition by either the secured creditor or the liquidator, may order the value of the security determined by any of the methods provided by §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-10-8"><span class="s2072373DefaultParagraphFont">54-10-8</span></a><span xml:space="preserve" class="s2072373DefaultParagraphFont"> to </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-10-10"><span class="s2072373DefaultParagraphFont">54-10-10</span></a><span class="s2072373DefaultParagraphFont">, inclusive.</span></p><p dir="ltr" class="s2072373Normal"><span xml:space="preserve" class="s2072373000001"> </span></p><p dir="ltr" class="s2072373Normal"><span class="s2072373SCL">Source:</span><span xml:space="preserve" class="s2072373SCL-000002"> SL 1941, ch 162, § 6; SDC Supp 1960, § 37.26A06.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072374Normal { 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.s2072374SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072374CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072374Normal-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.s2072374DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072374000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072374SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072374SCL-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="s2072374Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-10-8"><span class="s2072374SENU">54-10-8</span></a><span xml:space="preserve" class="s2072374SENU">. </span><span class="s2072374CL">Value of security, determination by compromise--Redemption of assets by liquidator.</span></p><p dir="ltr" class="s2072374Normal-000000"><span xml:space="preserve" class="s2072374DefaultParagraphFont">Under the circumstances described by § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-10-7"><span class="s2072374DefaultParagraphFont">54-10-7</span></a><span class="s2072374DefaultParagraphFont">, the court may order the value of the security determined by compromise, if the secured creditor and the liquidator agree upon a value. The liquidator may redeem such assets by payment of the agreed value, if authorized by the court.</span></p><p dir="ltr" class="s2072374Normal"><span xml:space="preserve" class="s2072374000001"> </span></p><p dir="ltr" class="s2072374Normal"><span class="s2072374SCL">Source:</span><span xml:space="preserve" class="s2072374SCL-000002"> SL 1941, ch 162, § 6; SDC Supp 1960, § 37.26A06 (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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072375Normal { 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.s2072375SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072375CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072375Normal-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.s2072375DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072375000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072375SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072375SCL-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="s2072375Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-10-9"><span class="s2072375SENU">54-10-9</span></a><span xml:space="preserve" class="s2072375SENU">. </span><span class="s2072375CL">Value of security, determination by litigation--Redemption of assets by liquidator.</span></p><p dir="ltr" class="s2072375Normal-000000"><span xml:space="preserve" class="s2072375DefaultParagraphFont">Under the circumstances described by § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-10-7"><span class="s2072375DefaultParagraphFont">54-10-7</span></a><span class="s2072375DefaultParagraphFont">, the court may order the value of the security determined by litigation, through proceedings in the liquidation proceeding. The liquidator may redeem such assets by paying the value so determined, if authorized by the court.</span></p><p dir="ltr" class="s2072375Normal"><span xml:space="preserve" class="s2072375000001"> </span></p><p dir="ltr" class="s2072375Normal"><span class="s2072375SCL">Source:</span><span xml:space="preserve" class="s2072375SCL-000002"> SL 1941, ch 162, § 6; SDC Supp 1960, § 37.26A06 (2).</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072376Normal { 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.s2072376SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072376CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072376Normal-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.s2072376DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072376Normal-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.s2072376000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072376SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072376SCL-000003 { 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="s2072376Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-10-10"><span class="s2072376SENU">54-10-10</span></a><span xml:space="preserve" class="s2072376SENU">. </span><span class="s2072376CL">Value of security, determination by liquidator's sale of assets--Order of sale, requirements.</span></p><p dir="ltr" class="s2072376Normal-000000"><span xml:space="preserve" class="s2072376DefaultParagraphFont">Under the circumstances described by § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-10-7"><span class="s2072376DefaultParagraphFont">54-10-7</span></a><span class="s2072376DefaultParagraphFont">, the court may order the value of the security determined by liquidator's sale of the assets which, when completed and approved by the court, shall pass to the purchaser good title, free and clear of all liens of the secured creditor, such liens to be transferred to the proceeds of the sale. The order of sale may be either</span></p><p dir="ltr" class="s2072376Normal-000001"><span xml:space="preserve" class="s2072376DefaultParagraphFont">(1)    Conditional, requiring the sale to be made by the liquidator only if the secured creditor does not complete a determination by collection or creditor's sale as set forth in §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-10-5"><span class="s2072376DefaultParagraphFont">54-10-5</span></a><span xml:space="preserve" class="s2072376DefaultParagraphFont"> and </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-10-6"><span class="s2072376DefaultParagraphFont">54-10-6</span></a><span xml:space="preserve" class="s2072376DefaultParagraphFont"> within a time fixed by the court; or</span></p><p dir="ltr" class="s2072376Normal-000001"><span class="s2072376DefaultParagraphFont">(2)    Absolute, requiring the sale to be made by the liquidator within a time fixed by the court.</span></p><p dir="ltr" class="s2072376Normal"><span xml:space="preserve" class="s2072376000002"> </span></p><p dir="ltr" class="s2072376Normal"><span class="s2072376SCL">Source:</span><span xml:space="preserve" class="s2072376SCL-000003"> SL 1941, ch 162, § 6; SDC Supp 1960, § 37.26A06 (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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072377Normal { 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.s2072377SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072377CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072377Normal-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.s2072377DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072377000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072377SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072377SCL-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="s2072377Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-10-11"><span class="s2072377SENU">54-10-11</span></a><span xml:space="preserve" class="s2072377SENU">. </span><span class="s2072377CL">Value of exempt security not credited upon claim.</span></p><p dir="ltr" class="s2072377Normal-000000"><span class="s2072377DefaultParagraphFont">When any creditor has legal or equitable security upon assets which are exempt from process for the satisfaction of unsecured debts and are duly claimed as exempt by the insolvent debtor, the value of such security shall not be credited upon the claim. Amounts realized by the creditor from such security after liquidation proceedings are begun shall be disregarded in computing dividends, unless the dividend so computed exceeds the sum actually owing upon the claim, in which event only the amount owing shall be paid.</span></p><p dir="ltr" class="s2072377Normal"><span xml:space="preserve" class="s2072377000001"> </span></p><p dir="ltr" class="s2072377Normal"><span class="s2072377SCL">Source:</span><span xml:space="preserve" class="s2072377SCL-000002"> SL 1941, ch 162, § 7; SDC Supp 1960, § 37.26A07.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072378Normal { 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.s2072378SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072378CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072378Normal-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.s2072378DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072378000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072378SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072378SCL-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="s2072378Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-10-12"><span class="s2072378SENU">54-10-12</span></a><span xml:space="preserve" class="s2072378SENU">. </span><span class="s2072378CL">Application of chapter to existing transactions.</span></p><p dir="ltr" class="s2072378Normal-000000"><span class="s2072378DefaultParagraphFont">This chapter shall not apply to contracts and transactions already existing on July 1, 1941.</span></p><p dir="ltr" class="s2072378Normal"><span xml:space="preserve" class="s2072378000001"> </span></p><p dir="ltr" class="s2072378Normal"><span class="s2072378SCL">Source:</span><span xml:space="preserve" class="s2072378SCL-000002"> SL 1941, ch 162, § 12; SDC Supp 1960, § 37.26A10.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072379Normal { 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.s2072379SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072379CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072379Normal-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.s2072379DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072379000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072379SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072379SCL-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="s2072379Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-10-13"><span class="s2072379SENU">54-10-13</span></a><span xml:space="preserve" class="s2072379SENU">. </span><span class="s2072379CL">Uniformity of interpretation of chapter.</span></p><p dir="ltr" class="s2072379Normal-000000"><span class="s2072379DefaultParagraphFont">This chapter shall be so interpreted and construed as to effectuate its general purpose to make uniform the law of those states which enact it.</span></p><p dir="ltr" class="s2072379Normal"><span xml:space="preserve" class="s2072379000001"> </span></p><p dir="ltr" class="s2072379Normal"><span class="s2072379SCL">Source:</span><span xml:space="preserve" class="s2072379SCL-000002"> SL 1941, ch 162, § 9; SDC Supp 1960, § 37.26A08.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072380Normal { 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.s2072380SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072380CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072380Normal-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.s2072380DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072380000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072380SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072380SCL-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="s2072380Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-10-14"><span class="s2072380SENU">54-10-14</span></a><span xml:space="preserve" class="s2072380SENU">. </span><span class="s2072380CL">Citation of chapter.</span></p><p dir="ltr" class="s2072380Normal-000000"><span class="s2072380DefaultParagraphFont">This chapter may be cited as the Uniform Act Governing Secured Creditors' Dividends in Liquidation Proceedings.</span></p><p dir="ltr" class="s2072380Normal"><span xml:space="preserve" class="s2072380000001"> </span></p><p dir="ltr" class="s2072380Normal"><span class="s2072380SCL">Source:</span><span xml:space="preserve" class="s2072380SCL-000002"> SL 1941, ch 162, § 10; SDC Supp 1960, § 37.26A09.</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 - DEBTOR AND CREDITOR 54-11 CREDIT CARDS AND REVOLVING CHARGE ACCOUNTS </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 54-11 CREDIT CARDS AND REVOLVING CHARGE ACCOUNTS "> <META NAME="Description" Content="South Dakota Codified Laws 54-11"> </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: HG4 --><Div align="center"><!-- WP Style End: HG4 --> CHAPTER 54-11 <!-- WP Paired Style Off: HG4 --><!-- WP Style End: HG4 --> </Div> <br> <!-- WP Paired Style On: HG4C --><Div align="center"><!-- WP Style End: HG4C --> CREDIT CARDS AND REVOLVING CHARGE ACCOUNTS <!-- WP Paired Style Off: HG4C --><!-- WP Style End: HG4C --> </Div> <br> <p> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-11-1">54-11-1</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Credit card and accepted credit card defined. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-11-2">54-11-2</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Repealed. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-11-3">54-11-3</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Repealed. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-11-4">54-11-4</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Unsolicited issuance of credit card prohibited--No liability for misuse by others. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-11-5">54-11-5</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> &quot;Revolving charge account&quot; and &quot;consumer goods and services&quot; defined. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-11-6">54-11-6</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Repealed. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-11-6.1">54-11-6.1</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Credit service charge permitted on revolving charge account. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-11-6.2">54-11-6.2</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Amount of service charge--Requirements--Compounding charge. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-11-6.3">54-11-6.3</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Maximum service charge. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-11-6.4">54-11-6.4</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Minimum charge on monthly bills when service charge less than minimum charge. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-11-7">54-11-7</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Repealed. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-11-8">54-11-8</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Bank loan accounts unaffected. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-11-9">54-11-9</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Creation of contract between card holder and issuer. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-11-10">54-11-10</A>, 54-11-11. Repealed. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-11-12">54-11-12</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Change in terms of credit card agreement. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072382Normal { 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.s2072382SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072382CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072382Normal-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.s2072382DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072382000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072382SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072382SCL-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="s2072382Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-11-1"><span class="s2072382SENU">54-11-1</span></a><span xml:space="preserve" class="s2072382SENU">. </span><span class="s2072382CL">Credit card and accepted credit card defined.</span></p><p dir="ltr" class="s2072382Normal-000000"><span xml:space="preserve" class="s2072382DefaultParagraphFont">The term, credit card, or, accepted credit card, as used in this chapter, means any credit card, identification card, or device which the cardholder has requested and received from any issuer or business, or has signed or has used, or has authorized another to use, for the purpose of obtaining money, property, checks, travelers checks, money orders, labor or services on credit. For purposes of this chapter, a credit card need not be issued to establish a revolving loan account arrangement made by a bank pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=51A-12-12"><span class="s2072382DefaultParagraphFont">51A-12-12</span></a><span class="s2072382DefaultParagraphFont">.</span></p><p dir="ltr" class="s2072382Normal"><span xml:space="preserve" class="s2072382000001"> </span></p><p dir="ltr" class="s2072382Normal"><span class="s2072382SCL">Source:</span><span xml:space="preserve" class="s2072382SCL-000002"> SL 1968, ch 199, § 1; SL 1980, ch 26, § 28; SL 1983, ch 365, § 1; SL 2014, ch 227, § 2.</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 - DEBTOR AND CREDITOR 54-11-2 </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 54-11-2 "> <META NAME="Description" Content="South Dakota Codified Laws 54-11-2"> </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 --> 54-11-2. <!-- WP Paired Style Off: SENU -->&nbsp;<!-- WP Style End: SENU --> Repealed by SL 1977, ch 189, &#167;&nbsp;126.<p> </BODY> </HTML> <br /><hr><br /> <HTML> <HEAD> <HTML> <HEAD> <meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 54 - DEBTOR AND CREDITOR 54-11-3 </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 54-11-3 "> <META NAME="Description" Content="South Dakota Codified Laws 54-11-3"> </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 --> 54-11-3. <!-- WP Paired Style Off: SENU -->&nbsp;<!-- WP Style End: SENU --> Repealed by SL 1983, ch 366.<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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072385Normal { 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.s2072385SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072385CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072385Normal-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.s2072385DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072385000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072385SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072385SCL-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="s2072385Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-11-4"><span class="s2072385SENU">54-11-4</span></a><span xml:space="preserve" class="s2072385SENU">. </span><span class="s2072385CL">Unsolicited issuance of credit card prohibited--No liability for misuse by others.</span></p><p dir="ltr" class="s2072385Normal-000000"><span class="s2072385DefaultParagraphFont">No credit card shall be issued unless its issuance was requested nor shall any person who has not so solicited or has not accepted or utilized an unsolicited credit card be liable to the person who issued it or honored it for its misuse by others.</span></p><p dir="ltr" class="s2072385Normal"><span xml:space="preserve" class="s2072385000001"> </span></p><p dir="ltr" class="s2072385Normal"><span class="s2072385SCL">Source:</span><span xml:space="preserve" class="s2072385SCL-000002"> SL 1968, ch 199, § 4.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072386Normal { 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.s2072386SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072386CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072386Normal-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.s2072386DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072386Normal-000001 { margin-top: 0; margin-bottom: 0; text-indent: 0.25in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2072386000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072386SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072386SCL-000003 { 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="s2072386Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-11-5"><span class="s2072386SENU">54-11-5</span></a><span xml:space="preserve" class="s2072386SENU">. </span><span class="s2072386CL">"Revolving charge account" and "consumer goods and services" defined.</span></p><p dir="ltr" class="s2072386Normal-000000"><span class="s2072386DefaultParagraphFont">For the purpose of this chapter, "revolving charge account" shall mean an arrangement prescribing terms of transactions which may be made thereunder from time to time pursuant to which a retail seller or person who offers and provides any services gives to a purchaser or user of services the privilege of using a credit card or other means of credit confirmation or identification primarily for the purpose of purchasing consumer goods or services, as that term is hereafter defined, from any person, which may include the retail seller or provider of services, and under which an interest charge may be periodically imposed.</span></p><p dir="ltr" class="s2072386Normal-000001"><span xml:space="preserve" class="s2072386DefaultParagraphFont">For the purpose of §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-11-5"><span class="s2072386DefaultParagraphFont">54-11-5</span></a><span xml:space="preserve" class="s2072386DefaultParagraphFont"> to </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-11-8"><span class="s2072386DefaultParagraphFont">54-11-8</span></a><span class="s2072386DefaultParagraphFont">, inclusive, "consumer goods and services" mean all goods and services provided to the public by sellers or providers of personal services.</span></p><p dir="ltr" class="s2072386Normal"><span xml:space="preserve" class="s2072386000002"> </span></p><p dir="ltr" class="s2072386Normal"><span class="s2072386SCL">Source:</span><span xml:space="preserve" class="s2072386SCL-000003"> SL 1974, ch 306, § 1; SL 1975, ch 301.</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 - DEBTOR AND CREDITOR 54-11-6 </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 54-11-6 "> <META NAME="Description" Content="South Dakota Codified Laws 54-11-6"> </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 --> 54-11-6. <!-- WP Paired Style Off: SENU -->&nbsp;<!-- WP Style End: SENU --> Repealed by SL 1979, ch 335, &#167;&nbsp;2.<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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072388Normal { 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.s2072388SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072388CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072388Normal-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.s2072388DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072388000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072388SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072388SCL-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="s2072388Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-11-6.1"><span class="s2072388SENU">54-11-6.1</span></a><span xml:space="preserve" class="s2072388SENU">. </span><span class="s2072388CL">Credit service charge permitted on revolving charge account.</span></p><p dir="ltr" class="s2072388Normal-000000"><span xml:space="preserve" class="s2072388DefaultParagraphFont">A person may collect a credit service charge on any revolving charge account made pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-11-5"><span class="s2072388DefaultParagraphFont">54-11-5</span></a><span xml:space="preserve" class="s2072388DefaultParagraphFont">, subject to §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-11-6.2"><span class="s2072388DefaultParagraphFont">54-11-6.2</span></a><span xml:space="preserve" class="s2072388DefaultParagraphFont"> to </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-11-6.4"><span class="s2072388DefaultParagraphFont">54-11-6.4</span></a><span class="s2072388DefaultParagraphFont">, inclusive.</span></p><p dir="ltr" class="s2072388Normal"><span xml:space="preserve" class="s2072388000001"> </span></p><p dir="ltr" class="s2072388Normal"><span class="s2072388SCL">Source:</span><span xml:space="preserve" class="s2072388SCL-000002"> SL 1979, ch 335, § 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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072389Normal { 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.s2072389SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072389CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072389Normal-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.s2072389DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072389000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072389SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072389SCL-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="s2072389Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-11-6.2"><span class="s2072389SENU">54-11-6.2</span></a><span xml:space="preserve" class="s2072389SENU">. </span><span class="s2072389CL">Amount of service charge--Requirements--Compounding charge.</span></p><p dir="ltr" class="s2072389Normal-000000"><span class="s2072389DefaultParagraphFont">A charge may be made in each billing cycle which is a percentage of an amount no greater than the average daily balance of the account, the unpaid balance of the account on approximately the same day of the billing cycle or the median amount within a specified range within which the average daily balance or the unpaid balance of the account, on approximately the same day of the billing cycle, is included. A charge may be made pursuant to this section only if the same charge is applied to all balances within the specified range and if the percentage when applied to the median amount within the range does not produce a charge exceeding the charge resulting from applying that percentage to the lowest amount within the range by more than eight percent of the charge on the median amount. This charge may be compounded.</span></p><p dir="ltr" class="s2072389Normal"><span xml:space="preserve" class="s2072389000001"> </span></p><p dir="ltr" class="s2072389Normal"><span class="s2072389SCL">Source:</span><span xml:space="preserve" class="s2072389SCL-000002"> SL 1979, ch 335, § 4.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072390Normal { 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.s2072390SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072390CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072390Normal-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.s2072390DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072390000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072390SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072390SCL-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="s2072390Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-11-6.3"><span class="s2072390SENU">54-11-6.3</span></a><span xml:space="preserve" class="s2072390SENU">. </span><span class="s2072390CL">Maximum service charge.</span></p><p dir="ltr" class="s2072390Normal-000000"><span class="s2072390DefaultParagraphFont">The charge shall be at a rate or amount agreed upon by the parties involved. If the billing cycle is not monthly, the maximum charge is that percentage which bears the same relation to the agreed upon rate as the number of days in the billing cycle bears to thirty. For the purposes of this section, a variation of not more than four days from month to month is approximately the same day of the billing cycle.</span></p><p dir="ltr" class="s2072390Normal"><span xml:space="preserve" class="s2072390000001"> </span></p><p dir="ltr" class="s2072390Normal"><span class="s2072390SCL">Source:</span><span xml:space="preserve" class="s2072390SCL-000002"> SL 1979, ch 335, § 5; SL 1980, ch 337, § 1A; SL 1982, ch 346, § 1; SL 1987, ch 360, § 5.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072391Normal { 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.s2072391SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072391CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072391Normal-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.s2072391DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072391000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072391SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072391SCL-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="s2072391Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-11-6.4"><span class="s2072391SENU">54-11-6.4</span></a><span xml:space="preserve" class="s2072391SENU">. </span><span class="s2072391CL">Minimum charge on monthly bills when service charge less than minimum charge.</span></p><p dir="ltr" class="s2072391Normal-000000"><span class="s2072391DefaultParagraphFont">If there is an unpaid balance on the date of which the credit service charge is applied and the credit service charge pursuant to this section is less than the minimum charge, a minimum charge not exceeding fifty cents may be made if the billing cycle is monthly. If the billing cycle is not monthly, a minimum charge may be made which bears the same relation to fifty cents as the number of days in the billing cycle bears to thirty.</span></p><p dir="ltr" class="s2072391Normal"><span xml:space="preserve" class="s2072391000001"> </span></p><p dir="ltr" class="s2072391Normal"><span class="s2072391SCL">Source:</span><span xml:space="preserve" class="s2072391SCL-000002"> SL 1979, ch 335, § 6.</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 - DEBTOR AND CREDITOR 54-11-7 </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 54-11-7 "> <META NAME="Description" Content="South Dakota Codified Laws 54-11-7"> </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 --> 54-11-7. <!-- WP Paired Style Off: SENU -->&nbsp;<!-- WP Style End: SENU --> Repealed by SL 1982, ch 346, &#167;&nbsp;3.<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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072393Normal { 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.s2072393SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072393CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072393Normal-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.s2072393DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072393000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072393SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072393SCL-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="s2072393Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-11-8"><span class="s2072393SENU">54-11-8</span></a><span xml:space="preserve" class="s2072393SENU">. </span><span class="s2072393CL">Bank loan accounts unaffected.</span></p><p dir="ltr" class="s2072393Normal-000000"><span xml:space="preserve" class="s2072393DefaultParagraphFont">The provisions of §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-11-5"><span class="s2072393DefaultParagraphFont">54-11-5</span></a><span xml:space="preserve" class="s2072393DefaultParagraphFont"> and </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-11-6.1"><span class="s2072393DefaultParagraphFont">54-11-6.1</span></a><span xml:space="preserve" class="s2072393DefaultParagraphFont"> shall not apply to a revolving loan account arrangement made by a bank pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=51A-12-12"><span class="s2072393DefaultParagraphFont">51A-12-12</span></a><span class="s2072393DefaultParagraphFont">.</span></p><p dir="ltr" class="s2072393Normal"><span xml:space="preserve" class="s2072393000001"> </span></p><p dir="ltr" class="s2072393Normal"><span class="s2072393SCL">Source:</span><span xml:space="preserve" class="s2072393SCL-000002"> SL 1974, ch 306, § 2.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072394Normal { 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.s2072394SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072394CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072394Normal-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.s2072394DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072394000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072394SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072394SCL-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="s2072394Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-11-9"><span class="s2072394SENU">54-11-9</span></a><span xml:space="preserve" class="s2072394SENU">. </span><span class="s2072394CL">Creation of contract between card holder and issuer.</span></p><p dir="ltr" class="s2072394Normal-000000"><span class="s2072394DefaultParagraphFont">The use of an accepted credit card or the issuance of a credit card agreement and the expiration of thirty days from the date of issuance without written notice from a card holder to cancel the account creates a binding contract between the card holder and the card issuer with reference to any accepted credit card, and any charges made with the authorization of the primary card holder.</span></p><p dir="ltr" class="s2072394Normal"><span xml:space="preserve" class="s2072394000001"> </span></p><p dir="ltr" class="s2072394Normal"><span class="s2072394SCL">Source:</span><span xml:space="preserve" class="s2072394SCL-000002"> SL 1983, ch 365, § 2.</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 - DEBTOR AND CREDITOR 54-11-10 </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 54-11-10 "> <META NAME="Description" Content="South Dakota Codified Laws 54-11-10"> </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 --> 54-11-10, 54-11-11. <!-- WP Paired Style Off: SENU -->&nbsp;<!-- WP Style End: SENU --> Repealed by SL 2015, ch 243, &#167;&#167;&nbsp;1, 2.<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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072396Normal { 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.s2072396SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072396CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072396Normal-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.s2072396DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072396000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072396SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072396SCL-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="s2072396Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-11-12"><span class="s2072396SENU">54-11-12</span></a><span xml:space="preserve" class="s2072396SENU">. </span><span class="s2072396CL">Change in terms of credit card agreement.</span></p><p dir="ltr" class="s2072396Normal-000000"><span class="s2072396DefaultParagraphFont">A credit card issuer may change the terms of any credit card agreement if such right of amendment has been reserved. A credit card issuer shall provide notice of such change, and the right to reject such change, in accordance with, and solely to the extent required by 12 C.F.R. 1026, in effect on January 1, 2015. No credit card issuer may make a change that is specifically prohibited by 12 C.F.R. 1026.</span></p><p dir="ltr" class="s2072396Normal"><span xml:space="preserve" class="s2072396000001"> </span></p><p dir="ltr" class="s2072396Normal"><span class="s2072396SCL">Source:</span><span xml:space="preserve" class="s2072396SCL-000002"> SL 2015, ch 243, § 3.</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 - DEBTOR AND CREDITOR 54-12 REVERSE MORTGAGE LOANS </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 54-12 REVERSE MORTGAGE LOANS "> <META NAME="Description" Content="South Dakota Codified Laws 54-12"> </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: HG4 --><Div align="center"><!-- WP Style End: HG4 --> CHAPTER 54-12 <!-- WP Paired Style Off: HG4 --><!-- WP Style End: HG4 --> </Div> <br> <!-- WP Paired Style On: HG4C --><Div align="center"><!-- WP Style End: HG4C --> REVERSE MORTGAGE LOANS <!-- WP Paired Style Off: HG4C --><!-- WP Style End: HG4C --> </Div> <br> <p> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-12-1">54-12-1</A> to 54-12-19. Repealed. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-12-20">54-12-20</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Reverse mortgage defined. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-12-21">54-12-21</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Rules for reverse mortgage loans. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-12-22">54-12-22</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Reverse mortgage loan payment--Undisbursed reverse mortgage funds. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <p> </BODY> </HTML> <br /><hr><br /> <HTML> <HEAD> <HTML> <HEAD> <meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 54 - DEBTOR AND CREDITOR 54-12-1 </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 54-12-1 "> <META NAME="Description" Content="South Dakota Codified Laws 54-12-1"> </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 --> 54-12-1 to 54-12-19. <!-- WP Paired Style Off: SENU -->&nbsp;<!-- WP Style End: SENU --> Repealed by SL 1997, ch 276, &#167;&#167;&nbsp;4 to 22.<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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072399Normal { 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.s2072399SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072399CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072399Normal-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.s2072399DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072399Normal-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.s2072399000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072399SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072399SCL-000003 { 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="s2072399Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-12-20"><span class="s2072399SENU">54-12-20</span></a><span xml:space="preserve" class="s2072399SENU">. </span><span class="s2072399CL">Reverse mortgage defined.</span></p><p dir="ltr" class="s2072399Normal-000000"><span class="s2072399DefaultParagraphFont">For the purposes of this chapter, a reverse mortgage is any nonrecourse loan secured by real property that:</span></p><p dir="ltr" class="s2072399Normal-000001"><span class="s2072399DefaultParagraphFont">(1)    Provides cash advances to a borrower based on the equity in a borrower's owner occupied principal residence;</span></p><p dir="ltr" class="s2072399Normal-000001"><span class="s2072399DefaultParagraphFont">(2)    Requires no payment of principal or interest until the entire loan becomes due and payable; and</span></p><p dir="ltr" class="s2072399Normal-000001"><span class="s2072399DefaultParagraphFont">(3)    Is made by any lender authorized to engage in business as a bank savings institution, mortgage company, or credit union under the laws of the United States or of South Dakota, or another lender authorized to make reverse mortgage loans by the Division of Banking.</span></p><p dir="ltr" class="s2072399Normal"><span xml:space="preserve" class="s2072399000002"> </span></p><p dir="ltr" class="s2072399Normal"><span class="s2072399SCL">Source:</span><span xml:space="preserve" class="s2072399SCL-000003"> SL 1997, ch 276, § 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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072400Normal { 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.s2072400SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072400CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072400Normal-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.s2072400DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072400Normal-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; } p.s2072400Normal-000002 { margin-left: 1.14in; text-indent: -0.44in; 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.s2072400000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072400SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072400SCL-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="s2072400Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-12-21"><span class="s2072400SENU">54-12-21</span></a><span xml:space="preserve" class="s2072400SENU">. </span><span class="s2072400CL">Rules for reverse mortgage loans.</span></p><p dir="ltr" class="s2072400Normal-000000"><span class="s2072400DefaultParagraphFont">A reverse mortgage loan is governed by the following rules, without regard to the requirements set out elsewhere for other types of mortgage transactions:</span></p><p dir="ltr" class="s2072400Normal-000001"><span class="s2072400DefaultParagraphFont">(1)    Prepayment in whole or in part, is permitted without penalty at any time during the period of the loan;</span></p><p dir="ltr" class="s2072400Normal-000001"><span class="s2072400DefaultParagraphFont">(2)    All advances made under a reverse mortgage and all interest on the advances have priority over any lien filed after the closing of a reverse mortgage;</span></p><p dir="ltr" class="s2072400Normal-000001"><span class="s2072400DefaultParagraphFont">(3)    A reverse mortgage may provide for an interest rate which is fixed or adjustable and may also provide for interest that is contingent on the value of the property at closing or at maturity, or on changes in value between closing and maturity;</span></p><p dir="ltr" class="s2072400Normal-000001"><span class="s2072400DefaultParagraphFont">(4)    A reverse mortgage may include costs that are charged at closing, on a periodic basis, or upon maturity;</span></p><p dir="ltr" class="s2072400Normal-000001"><span class="s2072400DefaultParagraphFont">(5)    If a reverse mortgage provides for periodic advances to a borrower, the advances may not be reduced in amount or number based on any adjustment in the interest rate;</span></p><p dir="ltr" class="s2072400Normal-000001"><span class="s2072400DefaultParagraphFont">(6)    Lenders, failing to make loan advances as required in the loan documents and failing to cure the default after notice as required in the loan documents, forfeit any right to collect interest. Lenders are also subject to administrative penalty as determined by the Division of Banking;</span></p><p dir="ltr" class="s2072400Normal-000001"><span class="s2072400DefaultParagraphFont">(7)    Any recordation tax on reverse mortgages shall be based on the net present value of credit available to the borrower at closing, which:</span></p><p dir="ltr" class="s2072400Normal-000002"><span class="s2072400DefaultParagraphFont">(a)    May not include any financed or anticipated costs or interest;</span></p><p dir="ltr" class="s2072400Normal-000002"><span class="s2072400DefaultParagraphFont">(b)    Shall include the dollar amount of any lump sum advance or available credit line at closing; and</span></p><p dir="ltr" class="s2072400Normal-000002"><span class="s2072400DefaultParagraphFont">(c)    Shall include the present value equivalent of any anticipated monthly loan advances as specified by the lender;</span></p><p dir="ltr" class="s2072400Normal-000001"><span class="s2072400DefaultParagraphFont">(8)    The mortgage may become due and payable only upon the occurrence of one of the following events:</span></p><p dir="ltr" class="s2072400Normal-000002"><span class="s2072400DefaultParagraphFont">(a)    The home securing the loan is sold or title to the home is otherwise transferred;</span></p><p dir="ltr" class="s2072400Normal-000002"><span class="s2072400DefaultParagraphFont">(b)    All borrowers cease occupying the home as a principal residence;</span></p><p dir="ltr" class="s2072400Normal-000002"><span class="s2072400DefaultParagraphFont">(c)    Any fixed maturity date agreed to by the lender and the borrower occurs; or</span></p><p dir="ltr" class="s2072400Normal-000002"><span class="s2072400DefaultParagraphFont">(d)    An event occurs which is specified in the loan documents and which jeopardizes the lender's security;</span></p><p dir="ltr" class="s2072400Normal-000001"><span class="s2072400DefaultParagraphFont">(9)    Repayment is subject to the following additional conditions:</span></p><p dir="ltr" class="s2072400Normal-000002"><span class="s2072400DefaultParagraphFont">(a)    Temporary absences from the home not exceeding sixty consecutive days may not cause the mortgage to become due and payable;</span></p><p dir="ltr" class="s2072400Normal-000002"><span class="s2072400DefaultParagraphFont">(b)    Temporary absences from the home exceeding sixty consecutive days but less than one year do not cause the mortgage to become due and payable so long as the borrower has taken prior action which secures the home in a manner satisfactory to the lender;</span></p><p dir="ltr" class="s2072400Normal-000002"><span class="s2072400DefaultParagraphFont">(c)    The lender's right to collect reverse mortgage proceeds is subject to the applicable statute of limitations for loan contracts. The statute of limitations commences on the date that the mortgage becomes due and payable. The lender shall prominently disclose in the loan agreement any interest or other fees to be charged during the period that commences on the date that the mortgage becomes due and payable, and that ends when repayment in full is made.</span></p><p dir="ltr" class="s2072400Normal"><span xml:space="preserve" class="s2072400000003"> </span></p><p dir="ltr" class="s2072400Normal"><span class="s2072400SCL">Source:</span><span xml:space="preserve" class="s2072400SCL-000004"> SL 1997, ch 276, § 2.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072401Normal { 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.s2072401SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072401CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072401Normal-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.s2072401DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072401DefaultParagraphFont-000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072401000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072401SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072401SCL-000003 { 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="s2072401Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-12-22"><span class="s2072401SENU">54-12-22</span></a><span xml:space="preserve" class="s2072401SENU">. </span><span class="s2072401CL">Reverse mortgage loan payment--Undisbursed reverse mortgage funds.</span></p><p dir="ltr" class="s2072401Normal-000000"><span class="s2072401DefaultParagraphFont">A reverse mortgage loan payment made to a borrower is treated as proceeds from a loan and not as income for the purpose of determining eligibility and benefits under means</span><span class="s2072401DefaultParagraphFont-000001">-</span><span class="s2072401DefaultParagraphFont">tested programs of aid to individuals. Undisbursed reverse mortgage funds shall be treated as equity in a borrower's home and not as proceeds from a loan, resources, or assets for the purpose of determining eligibility and benefits under means</span><span class="s2072401DefaultParagraphFont-000001">-</span><span class="s2072401DefaultParagraphFont">tested programs of aid to individuals. This section applies to any law or program relating to payments, allowances, benefits, or services provided on a means</span><span class="s2072401DefaultParagraphFont-000001">-</span><span class="s2072401DefaultParagraphFont">tested basis by this state, including supplemental security income, low</span><span class="s2072401DefaultParagraphFont-000001">-</span><span class="s2072401DefaultParagraphFont">income energy assistance, property tax relief, medical assistance, and general assistance.</span></p><p dir="ltr" class="s2072401Normal"><span xml:space="preserve" class="s2072401000002"> </span></p><p dir="ltr" class="s2072401Normal"><span class="s2072401SCL">Source:</span><span xml:space="preserve" class="s2072401SCL-000003"> SL 1997, ch 276, § 3.</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 - DEBTOR AND CREDITOR 54-13 STATE FARM MEDIATION BOARD </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 54-13 STATE FARM MEDIATION BOARD "> <META NAME="Description" Content="South Dakota Codified Laws 54-13"> </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: HG4 --><Div align="center"><!-- WP Style End: HG4 --> CHAPTER 54-13 <!-- WP Paired Style Off: HG4 --><!-- WP Style End: HG4 --> </Div> <br> <!-- WP Paired Style On: HG4C --><Div align="center"><!-- WP Style End: HG4C --> STATE FARM MEDIATION BOARD <!-- WP Paired Style Off: HG4C --><!-- WP Style End: HG4C --> </Div> <br> <p> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-13-1">54-13-1</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Definition of terms. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-13-2">54-13-2</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Agriculture mediation program--Purposes--Administration. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-13-3">54-13-3</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Repealed. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-13-4">54-13-4</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Staff services--Employment of director and other employees--Payment of expenses. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-13-5">54-13-5</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Responsibility for fees--Agricultural mediation operating fund created--Appropriation--Annual review--Disbursements. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-13-6">54-13-6</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Contracts with state agencies, nonprofit corporations, or individuals. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-13-7">54-13-7</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Assistance to borrower or creditor. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-13-8">54-13-8</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Repealed. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-13-9">54-13-9</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Notice to borrower and creditor of availability of financial preparation assistance. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-13-10">54-13-10</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Mandatory mediation--Requirements--Voluntary mediation. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-13-11">54-13-11</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Notice of initial mediation meeting--Exempt creditors--Waiver of right to mediate--Debt collection limitations. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-13-12">54-13-12</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Length of mediation period--Notice to borrower--Additional meetings. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-13-13">54-13-13</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Mediation of indebtedness requested by borrower--Procedure--Attendance at meetings not required. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-13-14">54-13-14</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> State or federal time periods deemed to run concurrently. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-13-15">54-13-15</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Continuation of mediation--Expiration of mediation period--Agreement between borrower and creditors. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-13-16">54-13-16</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Statement of waiver or failure to reach agreement deemed release. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-13-17">54-13-17</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Time limitation on waiver by borrower. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-13-18">54-13-18</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Information regarding finances of borrowers and creditors not public records--Mediation meetings not open. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-13-19">54-13-19</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Other rights and duties, penalties, and actions not affected. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-13-20">54-13-20</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Mediator or ag finance counselor immunity from civil liability--Qualifications. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2081975Normal { 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.s2081975SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2081975CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2081975Normal-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.s2081975DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2081975Normal-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.s2081975000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2081975DefaultParagraphFont-000003 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2081975SCL { 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="s2081975Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-13-1"><span class="s2081975SENU">54-13-1</span></a><span xml:space="preserve" class="s2081975SENU">. </span><span class="s2081975CL">Definition of terms.</span></p><p dir="ltr" class="s2081975Normal-000000"><span class="s2081975DefaultParagraphFont">Terms used in this chapter mean:</span></p><p dir="ltr" class="s2081975Normal-000001"><span xml:space="preserve" class="s2081975DefaultParagraphFont">(1)    "Agricultural land," a parcel of land larger than forty acres not located in any municipality and used in farming or ranching operations carried on by the owner or operator within the preceding three- year period for the production of farm products as defined in subdivision </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=57A-9-102"><span class="s2081975DefaultParagraphFont">57A-9-102</span></a><span class="s2081975DefaultParagraphFont">(a)(34) and includes wasteland lying within or contiguous to and in common ownership with land used in farming or ranching operations for the production of farming or ranching products;</span></p><p dir="ltr" class="s2081975Normal-000001"><span class="s2081975DefaultParagraphFont">(2)    "Ag finance counselor," a person who is trained to assist in agricultural credit matters;</span></p><p dir="ltr" class="s2081975Normal-000001"><span class="s2081975DefaultParagraphFont">(3)    "Agricultural property," agricultural land or personal property or a combination thereof used in the pursuit of, or arising out of, or related to, the occupation of farming or ranching;</span></p><p dir="ltr" class="s2081975Normal-000001"><span class="s2081975DefaultParagraphFont">(4)    "Borrower," an individual, corporation, trust, cooperative, joint venture, or any other entity entitled to contract who is engaged in farming or ranching and who derives more than sixty percent of total gross income from farming or ranching and who has been extended agricultural credit;</span></p><p dir="ltr" class="s2081975Normal-000001"><span class="s2081975DefaultParagraphFont">(5)    "Creditor," any individual, organization, cooperative, partnership, trust, or state or federally chartered corporation to whom is owed agricultural debt by a borrower;</span></p><p dir="ltr" class="s2081975Normal-000001"><span class="s2081975DefaultParagraphFont">(6)    "Federal land mediation," a process by which individuals or organizations seek to resolve disputes with federal land management agencies;</span></p><p dir="ltr" class="s2081975Normal-000001"><span class="s2081975DefaultParagraphFont">(7)    "Agricultural credit mediation," a process by which creditors and borrowers present, discuss, and explore practical and realistic alternatives to the resolution of a borrower's debts;</span></p><p dir="ltr" class="s2081975Normal-000001"><span xml:space="preserve" class="s2081975DefaultParagraphFont">(8)    "Mediator," anyone responsible for and engaged in the performance of mediation pursuant to this chapter, who is trained and certified by the Department of Agriculture and Natural Resources; </span></p><p dir="ltr" class="s2081975Normal-000001"><span class="s2081975DefaultParagraphFont">(9)    "Oil and gas mediation," a process by which individuals or organizations seek to resolve disputes with oil and gas developers related to surface damages.</span></p><p dir="ltr" class="s2081975Normal"><span xml:space="preserve" class="s2081975000002"> </span></p><p dir="ltr" class="s2081975Normal"><span xml:space="preserve" class="s2081975DefaultParagraphFont-000003">Source: </span><span xml:space="preserve" class="s2081975SCL">SL 1988, ch 384, § 1; SL 2001, ch 259; § 1; SL 2013, ch 241, § 1; SL 2015, ch 203, § 26; SL 2021, ch 1 (Ex. Ord. </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=21-3"><span class="s2081975SCL">21-3</span></a><span class="s2081975SCL">), § 51, eff. Apr. 19, 2021.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2081976Normal { 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.s2081976SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2081976CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2081976Normal-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.s2081976DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2081976Normal-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; } p.s2081976Normal-000002 { text-indent: 0.25in; 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.s2081976000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2081976DefaultParagraphFont-000004 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2081976SCL { 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="s2081976Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-13-2"><span class="s2081976SENU">54-13-2</span></a><span xml:space="preserve" class="s2081976SENU">. </span><span class="s2081976CL">Agricultural mediation program--Purposes--Administration.</span></p><p dir="ltr" class="s2081976Normal-000000"><span class="s2081976DefaultParagraphFont">The Department of Agriculture and Natural Resources shall administer an agricultural mediation program to:</span></p><p dir="ltr" class="s2081976Normal-000001"><span class="s2081976DefaultParagraphFont">(1)    Provide mediation to borrowers and creditors seeking to resolve credit disputes;</span></p><p dir="ltr" class="s2081976Normal-000001"><span class="s2081976DefaultParagraphFont">(2)    Provide federal land mediation to individuals or organizations seeking to mediate disputes with federal land management agencies concerning decisions made by those federal agencies; and</span></p><p dir="ltr" class="s2081976Normal-000001"><span class="s2081976DefaultParagraphFont">(3)    Provide oil and gas mediation to individuals or organizations seeking to mediate disputes over surface damages related to oil or gas development.</span></p><p dir="ltr" class="s2081976Normal-000002"><span xml:space="preserve" class="s2081976DefaultParagraphFont">The secretary of the Department of Agriculture and Natural Resources shall promulgate rules, pursuant to chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=1-26"><span class="s2081976DefaultParagraphFont">1-26</span></a><span class="s2081976DefaultParagraphFont">, necessary for mediation, federal land mediation, and oil and gas mediation including the establishment of fees, training requirements for mediators and ag finance counselors and their certification, mediation request forms, and any other mediation procedures as may be necessary for the prompt and expeditious mediation of agriculture related disputes, including the receipt of funds pursuant to the Agricultural Credit Act of 1987, as of January 1, 2015.</span></p><p dir="ltr" class="s2081976Normal-000002"><span class="s2081976DefaultParagraphFont">The agricultural mediation program may not, as a condition to mediation, require that any party waive any respective legal or equitable remedies or rights.</span></p><p dir="ltr" class="s2081976Normal"><span xml:space="preserve" class="s2081976000003"> </span></p><p dir="ltr" class="s2081976Normal"><span xml:space="preserve" class="s2081976DefaultParagraphFont-000004">Source: </span><span xml:space="preserve" class="s2081976SCL">SL 1988, ch 384, § 2; SL 1991, ch 394, § 3; SL 2001, ch 259, § 2; SL 2012, ch 236, § 1; SL 2013, ch 241, § 2; SL 2015, ch 203, § 27; SL 2021, ch 1 (Ex. Ord. </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=21-3"><span class="s2081976SCL">21-3</span></a><span class="s2081976SCL">), § 51, eff. Apr. 19, 2021.</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 - DEBTOR AND CREDITOR 54-13-3 </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 54-13-3 "> <META NAME="Description" Content="South Dakota Codified Laws 54-13-3"> </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 --> 54-13-3. <!-- WP Paired Style Off: SENU -->&nbsp;<!-- WP Style End: SENU --> Repealed by SL 2001, ch 259, &#167;&nbsp;3.<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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2081977Normal { 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.s2081977SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2081977CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2081977Normal-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.s2081977DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2081977000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2081977DefaultParagraphFont-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2081977SCL { 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="s2081977Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-13-4"><span class="s2081977SENU">54-13-4</span></a><span xml:space="preserve" class="s2081977SENU">. </span><span class="s2081977CL">Staff services--Employment of director and other employees--Payment of expenses.</span></p><p dir="ltr" class="s2081977Normal-000000"><span class="s2081977DefaultParagraphFont">All staff services required by the agricultural mediation program shall be provided by the Department of Agriculture and Natural Resources. The secretary of agriculture and natural resources may employ a director of mediation services and other agents and employees as the secretary deems necessary. The director shall serve at the pleasure of the secretary of agriculture and natural resources. The mediation services shall be administered under the direction and supervision of the Department of Agriculture and Natural Resources. All expenses incurred in carrying on the work of the agricultural mediation program, including the per diem and expenses of the staff, salaries, contract payments, and any other items of expense shall be paid out of funds appropriated or otherwise made available to the agricultural mediation operating fund.</span></p><p dir="ltr" class="s2081977Normal"><span xml:space="preserve" class="s2081977000001"> </span></p><p dir="ltr" class="s2081977Normal"><span xml:space="preserve" class="s2081977DefaultParagraphFont-000002">Source: </span><span xml:space="preserve" class="s2081977SCL">SL 1988, ch 384, § 4; SL 2001, ch 259, § 4; SL 2015, ch 203, § 28; SL 2021, ch 1 (Ex. Ord. </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=21-3"><span class="s2081977SCL">21-3</span></a><span class="s2081977SCL">), § 51, eff. Apr. 19, 2021.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2082158Normal { 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.s2082158SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2082158CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2082158Normal-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.s2082158DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2082158000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2082158DefaultParagraphFont-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2082158SCL { 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="s2082158Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-13-5"><span class="s2082158SENU">54-13-5</span></a><span xml:space="preserve" class="s2082158SENU">. </span><span class="s2082158CL">Responsibility for fees--Agricultural mediation operating fund created--Appropriation--Annual review--Disbursements.</span></p><p dir="ltr" class="s2082158Normal-000000"><span xml:space="preserve" class="s2082158DefaultParagraphFont">Any fees provided under this chapter and by rule shall be borne equally between the parties. The fees and any funds received pursuant to the Agricultural Credit Act of 1987, as of January 1, 2015, shall be deposited in the agricultural mediation operating fund which is hereby created. All money in the agricultural mediation operating fund created by this section is continuously appropriated for the purposes of administering the agricultural mediation program. All funds received by the agricultural mediation program shall be set forth in an informational budget as described in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=4-7-7.2"><span class="s2082158DefaultParagraphFont">4-7-7.2</span></a><span xml:space="preserve" class="s2082158DefaultParagraphFont"> and be annually reviewed by the Legislature. Any disbursements from the agricultural mediation operating fund shall be by authorization of the secretary of agriculture and natural resources.</span></p><p dir="ltr" class="s2082158Normal"><span xml:space="preserve" class="s2082158000001"> </span></p><p dir="ltr" class="s2082158Normal"><span xml:space="preserve" class="s2082158DefaultParagraphFont-000002">Source: </span><span xml:space="preserve" class="s2082158SCL">SL 1988, ch 384, § 5; SL 2001, ch 259, § 5; SL 2015, ch 203, § 29; SL 2021, ch 1 (Ex. Ord. </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=21-3"><span class="s2082158SCL">21-3</span></a><span class="s2082158SCL">), § 51, eff. Apr. 19, 2021.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2081978Normal { 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.s2081978SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2081978CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2081978Normal-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.s2081978DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2081978000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2081978DefaultParagraphFont-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2081978SCL { 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="s2081978Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-13-6"><span class="s2081978SENU">54-13-6</span></a><span xml:space="preserve" class="s2081978SENU">. </span><span class="s2081978CL">Contracts with state agencies, nonprofit corporations, or individuals.</span></p><p dir="ltr" class="s2081978Normal-000000"><span xml:space="preserve" class="s2081978DefaultParagraphFont">The Department of Agriculture and Natural Resources, in the administration of this chapter, may contract with one or more established agencies of state government, nonprofit corporations, or individuals to provide mediation services for borrowers and creditors and to provide financial preparation assistance for borrowers involved in mediation. Any contract executed under this section is exempt from chapters </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=5-18A"><span class="s2081978DefaultParagraphFont">5-18A</span></a><span xml:space="preserve" class="s2081978DefaultParagraphFont"> and </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=5-18D"><span class="s2081978DefaultParagraphFont">5-18D</span></a><span class="s2081978DefaultParagraphFont">. The contract may include terms and conditions as the Department of Agriculture and Natural Resources deems appropriate.</span></p><p dir="ltr" class="s2081978Normal"><span xml:space="preserve" class="s2081978000001"> </span></p><p dir="ltr" class="s2081978Normal"><span xml:space="preserve" class="s2081978DefaultParagraphFont-000002">Source: </span><span xml:space="preserve" class="s2081978SCL">SL 1988, ch 384, § 6; SL 1991, ch 394, § 4; SL 2001, ch 259, § 6; SL 2011, ch 2, § 152; SL 2017, ch 181, § 7; SL 2021, ch 1 (Ex. Ord. </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=21-3"><span class="s2081978SCL">21-3</span></a><span class="s2081978SCL">), § 51, eff. Apr. 19, 2021.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072409Normal { 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.s2072409SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072409CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072409Normal-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.s2072409DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072409000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072409SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072409SCL-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="s2072409Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-13-7"><span class="s2072409SENU">54-13-7</span></a><span xml:space="preserve" class="s2072409SENU">. </span><span class="s2072409CL">Assistance to borrower or creditor.</span></p><p dir="ltr" class="s2072409Normal-000000"><span class="s2072409DefaultParagraphFont">Any borrower or creditor involved in mediation may be provided resources to assist in the analysis of the borrower's business and personal financial situation, which analysis shall be conducted in a manner that assists the borrower, the borrower's family, and the creditor to prepare for mediation.</span></p><p dir="ltr" class="s2072409Normal"><span xml:space="preserve" class="s2072409000001"> </span></p><p dir="ltr" class="s2072409Normal"><span class="s2072409SCL">Source:</span><span xml:space="preserve" class="s2072409SCL-000002"> SL 1988, ch 384, § 7; SL 1991, ch 394, § 5; SL 2015, ch 203, § 30.</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 - DEBTOR AND CREDITOR 54-13-8 </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 54-13-8 "> <META NAME="Description" Content="South Dakota Codified Laws 54-13-8"> </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 --> 54-13-8. <!-- WP Paired Style Off: SENU -->&nbsp;<!-- WP Style End: SENU --> Repealed by SL 1991, ch 394, &#167;&nbsp;6.<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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072411Normal { 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.s2072411SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072411CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072411Normal-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.s2072411DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072411000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072411SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072411SCL-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="s2072411Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-13-9"><span class="s2072411SENU">54-13-9</span></a><span xml:space="preserve" class="s2072411SENU">. </span><span class="s2072411CL">Notice to borrower and creditor of availability of financial preparation assistance.</span></p><p dir="ltr" class="s2072411Normal-000000"><span class="s2072411DefaultParagraphFont">Upon receipt of a mediation request, the director of the agricultural mediation program shall notify the borrower and creditor as to whether financial preparation assistance resources are available and shall provide any other information available regarding assistance programs to borrowers.</span></p><p dir="ltr" class="s2072411Normal"><span xml:space="preserve" class="s2072411000001"> </span></p><p dir="ltr" class="s2072411Normal"><span class="s2072411SCL">Source:</span><span xml:space="preserve" class="s2072411SCL-000002"> SL 1988, ch 384, § 9; SL 1991, ch 394, § 7; SL 2001, ch 259, § 7; SL 2015, ch 203, § 31.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072412Normal { 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.s2072412SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072412CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072412Normal-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.s2072412DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072412000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072412SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072412SCL-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="s2072412Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-13-10"><span class="s2072412SENU">54-13-10</span></a><span xml:space="preserve" class="s2072412SENU">. </span><span class="s2072412CL">Mandatory mediation--Requirements--Voluntary mediation.</span></p><p dir="ltr" class="s2072412Normal-000000"><span class="s2072412DefaultParagraphFont">A creditor desiring to commence an action or a proceeding in this state to enforce a debt totaling fifty thousand dollars or greater against agricultural land or agricultural property of the borrower or to foreclose a contract to sell agricultural land or agricultural property or to enforce a secured interest in agricultural land or agricultural property or pursue any other action, proceeding or remedy relating to agricultural land or agricultural property of the borrower shall file a request for mandatory mediation with the director of the agricultural mediation program. No creditor may commence any such action or proceeding until the creditor receives a mediation release as described in this chapter, or the debtor waives mediation or until a court determines after notice and hearing, that the time delay required for mediation would cause the creditor to suffer irreparable harm because there are reasonable grounds to believe that the borrower may waste, dissipate, or divert agricultural property or that the agricultural property is in imminent danger of deterioration. Dismissal of a bankruptcy proceeding, abandonment by a bankruptcy trustee, release or relief from a bankruptcy stay, or release or termination of a receivership proceeding shall have the effect of a mediation release. Any debt that is less than fifty thousand dollars may be mediated through a voluntary mediation if a request is made and accepted by both borrower and creditor.</span></p><p dir="ltr" class="s2072412Normal"><span xml:space="preserve" class="s2072412000001"> </span></p><p dir="ltr" class="s2072412Normal"><span class="s2072412SCL">Source:</span><span xml:space="preserve" class="s2072412SCL-000002"> SL 1988, ch 384, § 10; SL 1991, ch 394, § 8; SL 2001, ch 259, § 8; SL 2015, ch 203, § 32.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072413Normal { 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.s2072413SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072413CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072413Normal-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.s2072413DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072413Normal-000001 { margin-top: 0; margin-bottom: 0; text-indent: 0.25in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2072413000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072413SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072413SCL-000003 { 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="s2072413Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-13-11"><span class="s2072413SENU">54-13-11</span></a><span xml:space="preserve" class="s2072413SENU">. </span><span class="s2072413CL">Notice of initial mediation meeting--Exempt creditors--Waiver of right to mediate--Debt collection limitations.</span></p><p dir="ltr" class="s2072413Normal-000000"><span class="s2072413DefaultParagraphFont">Unless the borrower waives mediation, the director of the agricultural mediation program shall promptly send a mediation meeting notice to the borrower and to all creditors as defined in subdivision 54-13-1(5), setting a time and place for an initial mediation meeting between the borrower, the creditor or creditors, and a mediator. An initial mediation meeting shall be held within twenty-one days of the issuance of the mediation meeting notice. Any creditors of the borrower who are not included in the definition of creditor under subdivision 54-13-1(5) are exempt from the requirements of this section. Any borrower's failure to furnish timely information requested by the director of the agricultural mediation program constitutes a waiver of the right to mediate under this chapter. Also, the failure of the borrower and the borrower's spouse, unless excused by the initiating creditor, to attend all mediation meetings constitutes a waiver of the right to mediate under this chapter.</span></p><p dir="ltr" class="s2072413Normal-000001"><span xml:space="preserve" class="s2072413DefaultParagraphFont">Any creditor subject to mandatory mediation under this chapter who receives notice pursuant to this section and who participates in all mediation sessions shall be treated as an initiating creditor and be subject to the same debt collection limitations as provided in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-13-10"><span class="s2072413DefaultParagraphFont">54-13-10</span></a><span class="s2072413DefaultParagraphFont">.</span></p><p dir="ltr" class="s2072413Normal"><span xml:space="preserve" class="s2072413000002"> </span></p><p dir="ltr" class="s2072413Normal"><span class="s2072413SCL">Source:</span><span xml:space="preserve" class="s2072413SCL-000003"> SL 1988, ch 384, § 11; SL 1991, ch 394, § 9; SL 2001, ch 259, § 9; SL 2015, ch 203, § 33.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072414Normal { 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.s2072414SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072414CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072414Normal-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.s2072414DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072414000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072414SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072414SCL-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="s2072414Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-13-12"><span class="s2072414SENU">54-13-12</span></a><span xml:space="preserve" class="s2072414SENU">. </span><span class="s2072414CL">Length of mediation period--Notice to borrower--Additional meetings.</span></p><p dir="ltr" class="s2072414Normal-000000"><span class="s2072414DefaultParagraphFont">The total mediation period for borrower and creditor mediations shall be for a term of forty-two days after the date the director of the agricultural mediation program issues the notice to the borrower. The director of the agricultural mediation program must issue a notice to the borrower within three business days following receipt of the request for mediation from the creditor. The mediator may, after the initial meeting, schedule additional mediation meetings during the mediation period.</span></p><p dir="ltr" class="s2072414Normal"><span xml:space="preserve" class="s2072414000001"> </span></p><p dir="ltr" class="s2072414Normal"><span class="s2072414SCL">Source:</span><span xml:space="preserve" class="s2072414SCL-000002"> SL 1988, ch 384, § 12; SL 2001, ch 259, § 10; SL 2015, ch 203, § 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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072415Normal { 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.s2072415SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072415CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072415Normal-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.s2072415DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072415000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072415SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072415SCL-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="s2072415Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-13-13"><span class="s2072415SENU">54-13-13</span></a><span xml:space="preserve" class="s2072415SENU">. </span><span class="s2072415CL">Mediation of indebtedness requested by borrower--Procedure--Attendance at meetings not required.</span></p><p dir="ltr" class="s2072415Normal-000000"><span class="s2072415DefaultParagraphFont">A borrower may request mediation of any type or amount of indebtedness by applying to the director of the agricultural mediation program. The director of the agricultural mediation program may make the appropriate mediation request forms available for such purpose. The director of the agricultural mediation program may follow the same procedure as for mandatory mediation. Neither the borrower nor the creditor may be required to attend any mediation meetings under this section. Failure to attend mediation meetings or to participate in mediation under this section does not affect the rights of a borrower or a creditor in any manner. Participation in mediation under this section is not a prerequisite to or a bar to the commencement of an action of legal proceedings by the borrower or the creditor. No mediation release may be issued unless the borrower and creditor agree in writing.</span></p><p dir="ltr" class="s2072415Normal"><span xml:space="preserve" class="s2072415000001"> </span></p><p dir="ltr" class="s2072415Normal"><span class="s2072415SCL">Source:</span><span xml:space="preserve" class="s2072415SCL-000002"> SL 1988, ch 384, § 13; SL 1991, ch 394, § 10; SL 2001, ch 259, § 11; SL 2015, ch 203, § 35.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072416Normal { 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.s2072416SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072416CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072416Normal-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.s2072416DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072416000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072416SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072416SCL-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="s2072416Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-13-14"><span class="s2072416SENU">54-13-14</span></a><span xml:space="preserve" class="s2072416SENU">. </span><span class="s2072416CL">State or federal time periods deemed to run concurrently.</span></p><p dir="ltr" class="s2072416Normal-000000"><span class="s2072416DefaultParagraphFont">The time period provided in any state or federal statutes, rules, or regulations are not to be affected by this chapter but shall be deemed to have run concurrently with the time period for mediation.</span></p><p dir="ltr" class="s2072416Normal"><span xml:space="preserve" class="s2072416000001"> </span></p><p dir="ltr" class="s2072416Normal"><span class="s2072416SCL">Source:</span><span xml:space="preserve" class="s2072416SCL-000002"> SL 1988, ch 384, § 14.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072417Normal { 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.s2072417SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072417CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072417Normal-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.s2072417DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072417DefaultParagraphFont-000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072417Normal-000002 { margin-top: 0; margin-bottom: 0; text-indent: 0.25in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2072417000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072417SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072417SCL-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="s2072417Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-13-15"><span class="s2072417SENU">54-13-15</span></a><span xml:space="preserve" class="s2072417SENU">. </span><span class="s2072417CL">Continuation of mediation--Expiration of mediation period--Agreement between borrower and creditors.</span></p><p dir="ltr" class="s2072417Normal-000000"><span class="s2072417DefaultParagraphFont">If the borrower and the initiating creditor consent, mediation may continue beyond the forty</span><span class="s2072417DefaultParagraphFont-000001">-</span><span class="s2072417DefaultParagraphFont">two day mediation period with the same force and effect as though held within the forty</span><span class="s2072417DefaultParagraphFont-000001">-</span><span class="s2072417DefaultParagraphFont">two day period. If no meeting is held within the forty</span><span class="s2072417DefaultParagraphFont-000001">-</span><span class="s2072417DefaultParagraphFont">two day mediation period, absent a waiver thereof, extension, or further agreement between borrower and creditor, the expiration of the mediation period shall conclusively constitute a mediation release. The director of the agriculture mediation program shall so inform the borrower and creditors and certify accordingly.</span></p><p dir="ltr" class="s2072417Normal-000002"><span class="s2072417DefaultParagraphFont">Any agreement reached between borrower and creditors as a result of mediation shall be drafted into a written agreement. If signed by borrower and creditors, the agreement shall constitute a mediation release, and the mediator shall so certify on the agreement.</span></p><p dir="ltr" class="s2072417Normal"><span xml:space="preserve" class="s2072417000003"> </span></p><p dir="ltr" class="s2072417Normal"><span class="s2072417SCL">Source:</span><span xml:space="preserve" class="s2072417SCL-000004"> SL 1988, ch 384, § 15; SL 1991, ch 394, § 11; SL 2001, ch 259, § 12.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072418Normal { 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.s2072418SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072418CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072418Normal-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.s2072418DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072418000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072418SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072418SCL-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="s2072418Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-13-16"><span class="s2072418SENU">54-13-16</span></a><span xml:space="preserve" class="s2072418SENU">. </span><span class="s2072418CL">Statement of waiver or failure to reach agreement deemed release.</span></p><p dir="ltr" class="s2072418Normal-000000"><span xml:space="preserve" class="s2072418DefaultParagraphFont">If the borrower waives mediation or if a mediation agreement is not reached, a statement to that effect shall be prepared by the mediator and such statement shall constitute a mediation release. Unless the borrower waives mediation, a creditor may not receive a mediation release pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-13-10"><span class="s2072418DefaultParagraphFont">54-13-10</span></a><span xml:space="preserve" class="s2072418DefaultParagraphFont"> until that creditor has attended at least one scheduled mediation meeting.</span></p><p dir="ltr" class="s2072418Normal"><span xml:space="preserve" class="s2072418000001"> </span></p><p dir="ltr" class="s2072418Normal"><span class="s2072418SCL">Source:</span><span xml:space="preserve" class="s2072418SCL-000002"> SL 1988, ch 384, § 16.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072419Normal { 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.s2072419SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072419CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072419Normal-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.s2072419DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072419000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072419SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072419SCL-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="s2072419Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-13-17"><span class="s2072419SENU">54-13-17</span></a><span xml:space="preserve" class="s2072419SENU">. </span><span class="s2072419CL">Time limitation on waiver by borrower.</span></p><p dir="ltr" class="s2072419Normal-000000"><span xml:space="preserve" class="s2072419DefaultParagraphFont">Any waiver by the borrower pursuant to this chapter may not be made more than sixty days prior to the commencement of any action or proceeding as described in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-13-10"><span class="s2072419DefaultParagraphFont">54-13-10</span></a><span class="s2072419DefaultParagraphFont">.</span></p><p dir="ltr" class="s2072419Normal"><span xml:space="preserve" class="s2072419000001"> </span></p><p dir="ltr" class="s2072419Normal"><span class="s2072419SCL">Source:</span><span xml:space="preserve" class="s2072419SCL-000002"> SL 1988, ch 384, § 16A.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072420Normal { 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.s2072420SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072420CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072420Normal-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.s2072420DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072420Normal-000001 { margin-top: 0; margin-bottom: 0; text-indent: 0.25in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2072420000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072420SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072420SCL-000003 { 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="s2072420Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-13-18"><span class="s2072420SENU">54-13-18</span></a><span xml:space="preserve" class="s2072420SENU">. </span><span class="s2072420CL">Information regarding finances of borrowers and creditors not public records--Mediation meetings not open.</span></p><p dir="ltr" class="s2072420Normal-000000"><span class="s2072420DefaultParagraphFont">All data and information regarding the finances of borrowers and creditors which is created, collected, or maintained by the director of the agriculture mediation program pursuant to the terms of this chapter or disclosed to the mediator are not public records and are confidential and discussions with the mediators are privileged communications.</span></p><p dir="ltr" class="s2072420Normal-000001"><span xml:space="preserve" class="s2072420DefaultParagraphFont">All mediation meetings, and all mediation activities provided by this chapter are exempt from the provisions of chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=1-27"><span class="s2072420DefaultParagraphFont">1-27</span></a><span class="s2072420DefaultParagraphFont">.</span></p><p dir="ltr" class="s2072420Normal"><span xml:space="preserve" class="s2072420000002"> </span></p><p dir="ltr" class="s2072420Normal"><span class="s2072420SCL">Source:</span><span xml:space="preserve" class="s2072420SCL-000003"> SL 1988, ch 384, § 17; SL 1991, ch 394, § 12; SL 2001, ch 259, § 13.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072421Normal { 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.s2072421SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072421CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072421Normal-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.s2072421DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072421000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072421SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072421SCL-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="s2072421Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-13-19"><span class="s2072421SENU">54-13-19</span></a><span xml:space="preserve" class="s2072421SENU">. </span><span class="s2072421CL">Other rights and duties, penalties, and actions not affected.</span></p><p dir="ltr" class="s2072421Normal-000000"><span class="s2072421DefaultParagraphFont">This chapter does not affect rights and duties that matured, penalties that were incurred, and actions or proceedings that were begun before the effective date of this chapter, and any actions or proceedings which have been filed shall be exempt from any requirements of this chapter.</span></p><p dir="ltr" class="s2072421Normal"><span xml:space="preserve" class="s2072421000001"> </span></p><p dir="ltr" class="s2072421Normal"><span class="s2072421SCL">Source:</span><span xml:space="preserve" class="s2072421SCL-000002"> SL 1988, ch 384, § 18.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072422Normal { 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.s2072422SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072422CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072422Normal-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.s2072422DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072422000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072422SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072422SCL-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="s2072422Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-13-20"><span class="s2072422SENU">54-13-20</span></a><span xml:space="preserve" class="s2072422SENU">. </span><span class="s2072422CL">Mediator or ag finance counselor immunity from civil liability--Qualifications.</span></p><p dir="ltr" class="s2072422Normal-000000"><span class="s2072422DefaultParagraphFont">Any person serving as a mediator or ag finance counselor pursuant to this chapter is immune from civil liability in any action brought in any court in this state on the basis of any act or omission resulting in damage or injury if the individual was acting in good faith, in a reasonable and prudent manner, and within the scope of such individual's official functions and duties as a mediator or ag finance counselor pursuant to this chapter.</span></p><p dir="ltr" class="s2072422Normal"><span xml:space="preserve" class="s2072422000001"> </span></p><p dir="ltr" class="s2072422Normal"><span class="s2072422SCL">Source:</span><span xml:space="preserve" class="s2072422SCL-000002"> SL 1989, ch 418, § 1; SL 2001, ch 259, § 14.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s3455109ed56740f08dc571065003705cNormal { 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.s3455109ed56740f08dc571065003705cHG4 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s3455109ed56740f08dc571065003705cDefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s3455109ed56740f08dc571065003705cHG4C { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s3455109ed56740f08dc571065003705cNormal-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; } span.s3455109ed56740f08dc571065003705c000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s3455109ed56740f08dc571065003705cB { 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 54-14 - MORTGAGE LENDER BUSINESS"><meta property="og:description" content="SDLRC Codified Law 54-14 - MORTGAGE LENDER BUSINESS"><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes?Statute=54-14"><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="s3455109ed56740f08dc571065003705cNormal"><span xml:space="preserve" class="s3455109ed56740f08dc571065003705cHG4">CHAPTER </span><a href="https://sdlegislature.gov/Statutes?Statute=54-14" rel="noopener"><span class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">54-14</span></a></p><p dir="ltr" class="s3455109ed56740f08dc571065003705cNormal"><span class="s3455109ed56740f08dc571065003705cHG4C">MORTGAGE LENDER BUSINESS</span></p><p dir="ltr" class="s3455109ed56740f08dc571065003705cNormal-000000"><span xml:space="preserve" class="s3455109ed56740f08dc571065003705c000001"> </span></p><p dir="ltr" class="s3455109ed56740f08dc571065003705cB"><a href="https://sdlegislature.gov/Statutes?Statute=54-14-1" rel="noopener"><span class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">54-14-1</span></a><span xml:space="preserve" class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">    </span><a href="https://sdlegislature.gov/Statutes?Statute=54-14-1" rel="noopener"><span class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">54-14-1</span></a><span xml:space="preserve" class="s3455109ed56740f08dc571065003705cDefaultParagraphFont"> to </span><a href="https://sdlegislature.gov/Statutes?Statute=54-14-1" rel="noopener"><span class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">54-14-1</span></a><span class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">1. Repealed by SL 2007, ch 279, § 21.</span></p><p dir="ltr" class="s3455109ed56740f08dc571065003705cB"><a href="https://sdlegislature.gov/Statutes?Statute=54-14-12" rel="noopener"><span class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">54-14-12</span></a><span xml:space="preserve" class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">    Definitions.</span></p><p dir="ltr" class="s3455109ed56740f08dc571065003705cB"><a href="https://sdlegislature.gov/Statutes?Statute=54-14-12.1" rel="noopener"><span class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">54-14-12.1</span></a><span xml:space="preserve" class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">    Loan processor or underwriter defined.</span></p><p dir="ltr" class="s3455109ed56740f08dc571065003705cB"><a href="https://sdlegislature.gov/Statutes?Statute=54-14-12.2" rel="noopener"><span class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">54-14-12.2</span></a><span xml:space="preserve" class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">    Mortgage loan originator defined.</span></p><p dir="ltr" class="s3455109ed56740f08dc571065003705cB"><a href="https://sdlegislature.gov/Statutes?Statute=54-14-12.3" rel="noopener"><span class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">54-14-12.3</span></a><span xml:space="preserve" class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">    Real estate brokerage activity defined.</span></p><p dir="ltr" class="s3455109ed56740f08dc571065003705cB"><a href="https://sdlegislature.gov/Statutes?Statute=54-14-12.4" rel="noopener"><span class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">54-14-12.4</span></a><span xml:space="preserve" class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">    Registered mortgage loan originator defined.</span></p><p dir="ltr" class="s3455109ed56740f08dc571065003705cB"><a href="https://sdlegislature.gov/Statutes?Statute=54-14-13" rel="noopener"><span class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">54-14-13</span></a><span xml:space="preserve" class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">    License required for mortgage lenders, brokerage, brokers, and loan originators--Identification through nationwide mortgage licensing system and registry--Exemption.</span></p><p dir="ltr" class="s3455109ed56740f08dc571065003705cB"><a href="https://sdlegislature.gov/Statutes?Statute=54-14-13.1" rel="noopener"><span class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">54-14-13.1</span></a><span xml:space="preserve" class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">    (See § </span><a href="https://sdlegislature.gov/Statutes?Statute=54-14-13.3" rel="noopener"><span class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">54-14-13.3</span></a><span xml:space="preserve" class="s3455109ed56740f08dc571065003705cDefaultParagraphFont"> for effective dates) Mortgage loan originator license--Required findings.</span></p><p dir="ltr" class="s3455109ed56740f08dc571065003705cB"><a href="https://sdlegislature.gov/Statutes?Statute=54-14-13.2" rel="noopener"><span class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">54-14-13.2</span></a><span xml:space="preserve" class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">    (See § </span><a href="https://sdlegislature.gov/Statutes?Statute=54-14-13.3" rel="noopener"><span class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">54-14-13.3</span></a><span xml:space="preserve" class="s3455109ed56740f08dc571065003705cDefaultParagraphFont"> for effective dates) Mortgage loan originator license--Renewal standards.</span></p><p dir="ltr" class="s3455109ed56740f08dc571065003705cB"><a href="https://sdlegislature.gov/Statutes?Statute=54-14-13.3" rel="noopener"><span class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">54-14-13.3</span></a><span xml:space="preserve" class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">    Effective dates of §§ </span><a href="https://sdlegislature.gov/Statutes?Statute=54-14-13.1" rel="noopener"><span class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">54-14-13.1</span></a><span xml:space="preserve" class="s3455109ed56740f08dc571065003705cDefaultParagraphFont"> and </span><a href="https://sdlegislature.gov/Statutes?Statute=54-14-13.2" rel="noopener"><span class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">54-14-13.2</span></a><span class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">.</span></p><p dir="ltr" class="s3455109ed56740f08dc571065003705cB"><a href="https://sdlegislature.gov/Statutes?Statute=54-14-13.4" rel="noopener"><span class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">54-14-13.4</span></a><span xml:space="preserve" class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">    License required for loan processor or underwriter--Identification through nationwide mortgage licensing system and registry.</span></p><p dir="ltr" class="s3455109ed56740f08dc571065003705cB"><a href="https://sdlegislature.gov/Statutes?Statute=54-14-13.5" rel="noopener"><span class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">54-14-13.5</span></a><span xml:space="preserve" class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">    License required for company originating, selling, or servicing nonresidential mortgage loans.</span></p><p dir="ltr" class="s3455109ed56740f08dc571065003705cB"><a href="https://sdlegislature.gov/Statutes?Statute=54-14-14" rel="noopener"><span class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">54-14-14</span></a><span xml:space="preserve" class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">    Application for licensure or registration.</span></p><p dir="ltr" class="s3455109ed56740f08dc571065003705cB"><a href="https://sdlegislature.gov/Statutes?Statute=54-14-15" rel="noopener"><span class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">54-14-15</span></a><span xml:space="preserve" class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">    Information to be furnished to nationwide mortgage licensing system and registry--Distribution of information--Criminal background check.</span></p><p dir="ltr" class="s3455109ed56740f08dc571065003705cB"><a href="https://sdlegislature.gov/Statutes?Statute=54-14-16" rel="noopener"><span class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">54-14-16</span></a><span xml:space="preserve" class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">    Fees.</span></p><p dir="ltr" class="s3455109ed56740f08dc571065003705cB"><a href="https://sdlegislature.gov/Statutes?Statute=54-14-17" rel="noopener"><span class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">54-14-17</span></a><span xml:space="preserve" class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">    License and registration not assignable.</span></p><p dir="ltr" class="s3455109ed56740f08dc571065003705cB"><a href="https://sdlegislature.gov/Statutes?Statute=54-14-18" rel="noopener"><span class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">54-14-18</span></a><span xml:space="preserve" class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">    Expiration of license or registration.</span></p><p dir="ltr" class="s3455109ed56740f08dc571065003705cB"><a href="https://sdlegislature.gov/Statutes?Statute=54-14-19" rel="noopener"><span class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">54-14-19</span></a><span xml:space="preserve" class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">    Fees for renewal of license.</span></p><p dir="ltr" class="s3455109ed56740f08dc571065003705cB"><a href="https://sdlegislature.gov/Statutes?Statute=54-14-20" rel="noopener"><span class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">54-14-20</span></a><span xml:space="preserve" class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">    Exemption of certain entities from chapter.</span></p><p dir="ltr" class="s3455109ed56740f08dc571065003705cB"><a href="https://sdlegislature.gov/Statutes?Statute=54-14-20.1" rel="noopener"><span class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">54-14-20.1</span></a><span xml:space="preserve" class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">    Exemption of certain persons from mortgage loan originator license requirement.</span></p><p dir="ltr" class="s3455109ed56740f08dc571065003705cB"><a href="https://sdlegislature.gov/Statutes?Statute=54-14-20.2" rel="noopener"><span class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">54-14-20.2</span></a><span xml:space="preserve" class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">    Exemption of attorneys from mortgage loan originator license requirement.</span></p><p dir="ltr" class="s3455109ed56740f08dc571065003705cB"><a href="https://sdlegislature.gov/Statutes?Statute=54-14-21" rel="noopener"><span class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">54-14-21</span></a><span xml:space="preserve" class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">    Exemption of certain entities from licensing requirements.</span></p><p dir="ltr" class="s3455109ed56740f08dc571065003705cB"><a href="https://sdlegislature.gov/Statutes?Statute=54-14-22" rel="noopener"><span class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">54-14-22</span></a><span xml:space="preserve" class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">    Repealed by SL 2012, ch 252, § 29.</span></p><p dir="ltr" class="s3455109ed56740f08dc571065003705cB"><a href="https://sdlegislature.gov/Statutes?Statute=54-14-23" rel="noopener"><span class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">54-14-23</span></a><span xml:space="preserve" class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">    Mortgage broker or lender permitted to use services of mortgage loan originator.</span></p><p dir="ltr" class="s3455109ed56740f08dc571065003705cB"><a href="https://sdlegislature.gov/Statutes?Statute=54-14-24" rel="noopener"><span class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">54-14-24</span></a><span xml:space="preserve" class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">    Surety bond requirements.</span></p><p dir="ltr" class="s3455109ed56740f08dc571065003705cB"><a href="https://sdlegislature.gov/Statutes?Statute=54-14-25" rel="noopener"><span class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">54-14-25</span></a><span xml:space="preserve" class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">    Violation of license or registration requirements--Misdemeanor.</span></p><p dir="ltr" class="s3455109ed56740f08dc571065003705cB"><a href="https://sdlegislature.gov/Statutes?Statute=54-14-25.1" rel="noopener"><span class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">54-14-25.1</span></a><span xml:space="preserve" class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">    Civil penalty for acting without required license or registration.</span></p><p dir="ltr" class="s3455109ed56740f08dc571065003705cB"><a href="https://sdlegislature.gov/Statutes?Statute=54-14-26" rel="noopener"><span class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">54-14-26</span></a><span xml:space="preserve" class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">    Examination and investigation by director.</span></p><p dir="ltr" class="s3455109ed56740f08dc571065003705cB"><a href="https://sdlegislature.gov/Statutes?Statute=54-14-27" rel="noopener"><span class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">54-14-27</span></a><span xml:space="preserve" class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">    Conditioning, denial, nonrenewal, suspension, or revocation of license.</span></p><p dir="ltr" class="s3455109ed56740f08dc571065003705cB"><a href="https://sdlegislature.gov/Statutes?Statute=54-14-28" rel="noopener"><span class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">54-14-28</span></a><span xml:space="preserve" class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">    Reinstatement of license or registration--Termination of suspension--New license or registration.</span></p><p dir="ltr" class="s3455109ed56740f08dc571065003705cB"><a href="https://sdlegislature.gov/Statutes?Statute=54-14-29" rel="noopener"><span class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">54-14-29</span></a><span xml:space="preserve" class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">    Procedure for contesting suspension or revocation.</span></p><p dir="ltr" class="s3455109ed56740f08dc571065003705cB"><a href="https://sdlegislature.gov/Statutes?Statute=54-14-30" rel="noopener"><span class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">54-14-30</span></a><span xml:space="preserve" class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">    Annual tax upon net income--Exemptions.</span></p><p dir="ltr" class="s3455109ed56740f08dc571065003705cB"><a href="https://sdlegislature.gov/Statutes?Statute=54-14-31" rel="noopener"><span class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">54-14-31</span></a><span xml:space="preserve" class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">    Promulgation of rules regarding licensing, education, and fees.</span></p><p dir="ltr" class="s3455109ed56740f08dc571065003705cB"><a href="https://sdlegislature.gov/Statutes?Statute=54-14-32" rel="noopener"><span class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">54-14-32</span></a><span xml:space="preserve" class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">    Disposition of fees.</span></p><p dir="ltr" class="s3455109ed56740f08dc571065003705cB"><a href="https://sdlegislature.gov/Statutes?Statute=54-14-33" rel="noopener"><span class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">54-14-33</span></a><span xml:space="preserve" class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">    Contracts with nationwide mortgage licensing system.</span></p><p dir="ltr" class="s3455109ed56740f08dc571065003705cB"><a href="https://sdlegislature.gov/Statutes?Statute=54-14-34" rel="noopener"><span class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">54-14-34</span></a><span xml:space="preserve" class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">    Promulgation of rules for challenging information entered in nationwide mortgage licensing system.</span></p><p dir="ltr" class="s3455109ed56740f08dc571065003705cB"><a href="https://sdlegislature.gov/Statutes?Statute=54-14-35" rel="noopener"><span class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">54-14-35</span></a><span xml:space="preserve" class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">    Sharing of information.</span></p><p dir="ltr" class="s3455109ed56740f08dc571065003705cB"><a href="https://sdlegislature.gov/Statutes?Statute=54-14-36" rel="noopener"><span class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">54-14-36</span></a><span xml:space="preserve" class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">    Reports of condition--Promulgation of rules.</span></p><p dir="ltr" class="s3455109ed56740f08dc571065003705cB"><a href="https://sdlegislature.gov/Statutes?Statute=54-14-37" rel="noopener"><span class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">54-14-37</span></a><span xml:space="preserve" class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">    Reports of violations and enforcement.</span></p><p dir="ltr" class="s3455109ed56740f08dc571065003705cB"><a href="https://sdlegislature.gov/Statutes?Statute=54-14-38" rel="noopener"><span class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">54-14-38</span></a><span xml:space="preserve" class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">    Improper influence on real estate appraisals prohibited--Grounds for discipline.</span></p><p dir="ltr" class="s3455109ed56740f08dc571065003705cB"><a href="https://sdlegislature.gov/Statutes?Statute=54-14-39" rel="noopener"><span class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">54-14-39</span></a><span xml:space="preserve" class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">    Conduct not constituting improper influence on real estate appraisals.</span></p><p dir="ltr" class="s3455109ed56740f08dc571065003705cB"><a href="https://sdlegislature.gov/Statutes?Statute=54-14-40" rel="noopener"><span class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">54-14-40</span></a><span xml:space="preserve" class="s3455109ed56740f08dc571065003705cDefaultParagraphFont">    Remote work--Requirements.</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 - DEBTOR AND CREDITOR 54-14-1 </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 54-14-1 "> <META NAME="Description" Content="South Dakota Codified Laws 54-14-1"> </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 --> 54-14-1 to 54-14-11. <!-- WP Paired Style Off: SENU -->&nbsp;<!-- WP Style End: SENU --> Repealed by SL 2007, ch 279, &#167;&nbsp;21.<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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072425Normal { 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.s2072425SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072425CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072425Normal-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.s2072425DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072425Normal-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.s2072425000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072425SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072425SCL-000003 { 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="s2072425Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-14-12"><span class="s2072425SENU">54-14-12</span></a><span xml:space="preserve" class="s2072425SENU">. </span><span class="s2072425CL">Definitions.</span></p><p dir="ltr" class="s2072425Normal-000000"><span class="s2072425DefaultParagraphFont">Terms used in this chapter mean:</span></p><p dir="ltr" class="s2072425Normal-000001"><span class="s2072425DefaultParagraphFont">(1)    "Depository institution," the same meaning as provided in 12 U.S.C. § 1813(c) as of January 1, 2009, and includes any credit union;</span></p><p dir="ltr" class="s2072425Normal-000001"><span class="s2072425DefaultParagraphFont">(2)    "Director," the director of the Division of Banking of the Department of Labor and Regulation;</span></p><p dir="ltr" class="s2072425Normal-000001"><span class="s2072425DefaultParagraphFont">(3)    "Division," the Division of Banking of the Department of Labor and Regulation;</span></p><p dir="ltr" class="s2072425Normal-000001"><span class="s2072425DefaultParagraphFont">(4)    "Federal banking agencies," the Board of Governors of the Federal Reserve System, the Comptroller of the Currency, the director of the Office of Thrift Supervision, the National Credit Union Administration, and the Federal Deposit Insurance Corporation;</span></p><p dir="ltr" class="s2072425Normal-000001"><span class="s2072425DefaultParagraphFont">(5)    "Immediate family member," a spouse, child, sibling, parent, grandparent, grandchild, stepparent, stepchildren, stepsibling, and adoptive relationship;</span></p><p dir="ltr" class="s2072425Normal-000001"><span class="s2072425DefaultParagraphFont">(6)    "Individual," a natural person;</span></p><p dir="ltr" class="s2072425Normal-000001"><span class="s2072425DefaultParagraphFont">(7)    "Licensee," the person holding a license provided by this chapter;</span></p><p dir="ltr" class="s2072425Normal-000001"><span xml:space="preserve" class="s2072425DefaultParagraphFont">(8)    "Mortgage lender," any person who, for valuable consideration, originates, sells, or services mortgages, or holds himself, herself, or itself out as a person who, for valuable consideration, originates, sells, or services mortgages, other than those exempt pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-14-21"><span class="s2072425DefaultParagraphFont">54-14-21</span></a><span class="s2072425DefaultParagraphFont">;</span></p><p dir="ltr" class="s2072425Normal-000001"><span class="s2072425DefaultParagraphFont">(9)    "Mortgage broker," any person who acts as a mortgage loan originator and has not less than a ten percent interest in a mortgage brokerage;</span></p><p dir="ltr" class="s2072425Normal-000001"><span class="s2072425DefaultParagraphFont">(10)    "Mortgage brokerage," any person engaged in placing mortgage loans with investors for a fee, but does not service such loans;</span></p><p dir="ltr" class="s2072425Normal-000001"><span class="s2072425DefaultParagraphFont">(11)    "Mortgage lending activities," for compensation, either directly or indirectly, accepting or offering to accept applications for making mortgage loans;</span></p><p dir="ltr" class="s2072425Normal-000001"><span class="s2072425DefaultParagraphFont">(12)    "Nationwide mortgage licensing system and registry," a mortgage licensing system developed and maintained by the Conference of State Bank Supervisors and the American Association of Residential Mortgage Regulators for the licensing and registration of licensed mortgage loan originators;</span></p><p dir="ltr" class="s2072425Normal-000001"><span class="s2072425DefaultParagraphFont">(13)    "Regional revolving loan fund," any regional revolving loan fund with a service area of at least five South Dakota counties, a designated staff for loan processing and servicing, a loan portfolio of at least one million dollars, and which is governed by a board of directors that meets at least quarterly;</span></p><p dir="ltr" class="s2072425Normal-000001"><span class="s2072425DefaultParagraphFont">(14)    "Residential mortgage loan," any loan primarily for personal, family, or household use that is secured by a mortgage, deed of trust, or other equivalent consensual security interest on a dwelling, as defined in 12 C.F.R. § 226.2(19), or residential real estate upon which is constructed or intended to be constructed a dwelling;</span></p><p dir="ltr" class="s2072425Normal-000001"><span class="s2072425DefaultParagraphFont">(15)    "Unique identifier," a number or other identifier assigned by protocols established by the nationwide mortgage licensing system and registry.</span></p><p dir="ltr" class="s2072425Normal"><span xml:space="preserve" class="s2072425000002"> </span></p><p dir="ltr" class="s2072425Normal"><span class="s2072425SCL">Source:</span><span xml:space="preserve" class="s2072425SCL-000003"> SL 2007, ch 279, § 1; SL 2008, ch 255, § 1; SL 2009, ch 251, § 1; SL 2011, ch 1 (Ex. Ord. </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=11-1"><span class="s2072425SCL-000003">11-1</span></a><span class="s2072425SCL-000003">), § 36, eff. Apr. 12, 2011.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072426Normal { 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.s2072426SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072426CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072426Normal-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.s2072426DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072426Normal-000001 { margin-top: 0; margin-bottom: 0; text-indent: 0.25in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2072426000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072426SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072426SCL-000003 { 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="s2072426Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-14-12.1"><span class="s2072426SENU">54-14-12.1</span></a><span xml:space="preserve" class="s2072426SENU">. </span><span class="s2072426CL">Loan processor or underwriter defined.</span></p><p dir="ltr" class="s2072426Normal-000000"><span class="s2072426DefaultParagraphFont">For the purposes of this chapter, the term, loan processor or underwriter, means any individual who performs clerical or support duties as an employee at the direction of and subject to the supervision and instruction of a person licensed according to this chapter, or a person exempt according to this chapter. Clerical or support duties subsequent to the receipt of an application include the receipt, collection, distribution, and analysis of information common for the processing or underwriting of a mortgage loan; and communicating with a consumer to obtain the information necessary for the processing or underwriting of a loan, to the extent that the communication does not include offering or negotiating loan rates or terms, or counseling consumers about mortgage loan rates or terms.</span></p><p dir="ltr" class="s2072426Normal-000001"><span class="s2072426DefaultParagraphFont">No individual engaging solely in loan processor or underwriter activities may represent to the public, through advertising or other means of communicating or providing information including the use of business cards, stationery, brochures, signs, rate lists, or other promotional items, that the individual can or will perform any of the activities of a mortgage loan originator.</span></p><p dir="ltr" class="s2072426Normal"><span xml:space="preserve" class="s2072426000002"> </span></p><p dir="ltr" class="s2072426Normal"><span class="s2072426SCL">Source:</span><span xml:space="preserve" class="s2072426SCL-000003"> SL 2009, ch 251, § 2.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072427Normal { 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.s2072427SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072427CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072427Normal-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.s2072427DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072427Normal-000001 { text-indent: 0.25in; 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.s2072427Normal-000002 { 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.s2072427000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072427SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072427SCL-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="s2072427Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-14-12.2"><span class="s2072427SENU">54-14-12.2</span></a><span xml:space="preserve" class="s2072427SENU">. </span><span class="s2072427CL">Mortgage loan originator defined.</span></p><p dir="ltr" class="s2072427Normal-000000"><span class="s2072427DefaultParagraphFont">For the purposes of this chapter, the term, mortgage loan originator, means an individual who for compensation or gain or in the expectation of compensation or gain takes a mortgage loan application or offers or negotiates terms of a mortgage loan.</span></p><p dir="ltr" class="s2072427Normal-000001"><span class="s2072427DefaultParagraphFont">A mortgage loan originator does not include:</span></p><p dir="ltr" class="s2072427Normal-000002"><span xml:space="preserve" class="s2072427DefaultParagraphFont">(1)    An individual engaged solely as a loan processor or underwriter except as otherwise provided in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-14-12.1"><span class="s2072427DefaultParagraphFont">54-14-12.1</span></a></p><p dir="ltr" class="s2072427Normal-000002"><span class="s2072427DefaultParagraphFont">(2)    An individual or entity that performs only real estate brokerage activities and is licensed or registered in accordance with applicable South Dakota law, unless the individual or entity is compensated by a lender, a mortgage broker, or other mortgage loan originator or by any agent of such lender, mortgage broker, or other mortgage loan originator; or</span></p><p dir="ltr" class="s2072427Normal-000002"><span class="s2072427DefaultParagraphFont">(3)    Any individual or entity solely involved in extensions of credit relating to timeshare plans, as that term is defined in 11 U.S.C. § 101(53D) as of January 1, 2009.</span></p><p dir="ltr" class="s2072427Normal"><span xml:space="preserve" class="s2072427000003"> </span></p><p dir="ltr" class="s2072427Normal"><span class="s2072427SCL">Source:</span><span xml:space="preserve" class="s2072427SCL-000004"> SL 2009, ch 251, § 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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072428Normal { 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.s2072428SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072428CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072428Normal-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.s2072428DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072428Normal-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.s2072428000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072428SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072428SCL-000003 { 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="s2072428Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-14-12.3"><span class="s2072428SENU">54-14-12.3</span></a><span xml:space="preserve" class="s2072428SENU">. </span><span class="s2072428CL">Real estate brokerage activity defined.</span></p><p dir="ltr" class="s2072428Normal-000000"><span class="s2072428DefaultParagraphFont">For the purposes of this chapter, the term, real estate brokerage activity, means any activity that involves offering or providing real estate brokerage services to the public, including:</span></p><p dir="ltr" class="s2072428Normal-000001"><span class="s2072428DefaultParagraphFont">(1)    Acting as a real estate agent or real estate broker for a buyer, seller, lessor, or lessee of real property;</span></p><p dir="ltr" class="s2072428Normal-000001"><span class="s2072428DefaultParagraphFont">(2)    Bringing together parties interested in the sale, purchase, lease, rental, or exchange of real property;</span></p><p dir="ltr" class="s2072428Normal-000001"><span class="s2072428DefaultParagraphFont">(3)    Negotiating, on behalf of any party, any portion of a contract relating to the sale, purchase, lease, rental, or exchange of real property (other than in connection with providing financing with respect to any such transaction);</span></p><p dir="ltr" class="s2072428Normal-000001"><span class="s2072428DefaultParagraphFont">(4)    Engaging in any activity for which a person engaged in the activity is required to be registered or licensed as a real estate agent or real estate broker under any applicable law;</span></p><p dir="ltr" class="s2072428Normal-000001"><span class="s2072428DefaultParagraphFont">(5)    Offering to engage in any activity, or act in any capacity, described in this section.</span></p><p dir="ltr" class="s2072428Normal"><span xml:space="preserve" class="s2072428000002"> </span></p><p dir="ltr" class="s2072428Normal"><span class="s2072428SCL">Source:</span><span xml:space="preserve" class="s2072428SCL-000003"> SL 2009, ch 251, § 4.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072429Normal { 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.s2072429SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072429CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072429Normal-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.s2072429DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072429Normal-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; } p.s2072429Normal-000002 { margin-left: 1.14in; text-indent: -0.44in; 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.s2072429000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072429SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072429SCL-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="s2072429Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-14-12.4"><span class="s2072429SENU">54-14-12.4</span></a><span xml:space="preserve" class="s2072429SENU">. </span><span class="s2072429CL">Registered mortgage loan originator defined.</span></p><p dir="ltr" class="s2072429Normal-000000"><span class="s2072429DefaultParagraphFont">For the purposes of this chapter, the term, registered mortgage loan originator, means any individual who:</span></p><p dir="ltr" class="s2072429Normal-000001"><span class="s2072429DefaultParagraphFont">(1)    Meets the definition of mortgage loan originator and is an employee of:</span></p><p dir="ltr" class="s2072429Normal-000002"><span class="s2072429DefaultParagraphFont">(a)    A depository institution;</span></p><p dir="ltr" class="s2072429Normal-000002"><span class="s2072429DefaultParagraphFont">(b)    A subsidiary that is owned and controlled by a depository institution and regulated by a federal banking agency; or</span></p><p dir="ltr" class="s2072429Normal-000002"><span class="s2072429DefaultParagraphFont">(c)    An institution regulated by the Farm Credit Administration; and</span></p><p dir="ltr" class="s2072429Normal-000001"><span class="s2072429DefaultParagraphFont">(2)    Is registered with, and maintains a unique identifier through, the nationwide mortgage licensing system and registry.</span></p><p dir="ltr" class="s2072429Normal"><span xml:space="preserve" class="s2072429000003"> </span></p><p dir="ltr" class="s2072429Normal"><span class="s2072429SCL">Source:</span><span xml:space="preserve" class="s2072429SCL-000004"> SL 2009, ch 251, § 5.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072430Normal { 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.s2072430SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072430CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072430Normal-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.s2072430DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072430Normal-000001 { margin-top: 0; margin-bottom: 0; text-indent: 0.25in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2072430000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072430SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072430SCL-000003 { 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="s2072430Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-14-13"><span class="s2072430SENU">54-14-13</span></a><span xml:space="preserve" class="s2072430SENU">. </span><span class="s2072430CL">License required for mortgage lenders, brokerage, brokers, and loan originators--Identification through nationwide mortgage licensing system and registry--Exemption.</span></p><p dir="ltr" class="s2072430Normal-000000"><span class="s2072430DefaultParagraphFont">No person may act as a mortgage lender, mortgage brokerage, mortgage broker, or mortgage loan originator in this state or use the title, mortgage lender, mortgage brokerage, mortgage broker, or mortgage loan originator with respect to any property located in South Dakota without first obtaining and maintaining a license according to the requirements of this chapter. Each person shall be licensed or registered, and maintain a unique identifier through the nationwide mortgage licensing system and registry.</span></p><p dir="ltr" class="s2072430Normal-000001"><span xml:space="preserve" class="s2072430DefaultParagraphFont">The requirements of this chapter, except for the provisions of chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=10-43"><span class="s2072430DefaultParagraphFont">10-43</span></a><span xml:space="preserve" class="s2072430DefaultParagraphFont"> as referenced in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-14-30"><span class="s2072430DefaultParagraphFont">54-14-30</span></a><span class="s2072430DefaultParagraphFont">, do not apply to any person who, on, before, or after July 1, 2017, originates, sells, or services five or fewer nonresidential mortgage loans in a twelve-month period as long as the total amount of the loans outstanding does not exceed four million dollars. The exemption under this section applies jointly to every entity in which a person has an equity interest, whether the loan or loans are made by that person or through an entity in which the person holds an equity interest.</span></p><p dir="ltr" class="s2072430Normal-000001"><span class="s2072430DefaultParagraphFont">Any person exempted by the provisions of this section shall report to the division annually, no later than December thirty-first of 2017, and every subsequent year for any year in which nonresidential mortgage loans are originated, sold, or serviced. The annual report shall contain the name and address of the person who originated, sold, or serviced nonresidential mortgage loans, the number of nonresidential mortgage loans originated, sold, or serviced in the preceding calendar year, and the total balance of all nonresidential mortgage loans originated, sold, or serviced.</span></p><p dir="ltr" class="s2072430Normal"><span xml:space="preserve" class="s2072430000002"> </span></p><p dir="ltr" class="s2072430Normal"><span class="s2072430SCL">Source:</span><span xml:space="preserve" class="s2072430SCL-000003"> SL 2007, ch 279, § 2; SL 2009, ch 251, § 6; SL 2017, ch 207, § 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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072431Normal { 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.s2072431SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072431CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072431Normal-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.s2072431DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072431Normal-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; } p.s2072431Normal-000002 { margin-left: 1.14in; text-indent: -0.44in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } p.s2072431Normal-000003 { margin-left: 0.70in; 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.s2072431000004 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072431SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072431SCL-000005 { 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="s2072431Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-14-13.1"><span class="s2072431SENU">54-14-13.1</span></a><span xml:space="preserve" class="s2072431SENU">. </span><span xml:space="preserve" class="s2072431CL">(See § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-14-13.3"><span class="s2072431CL">54-14-13.3</span></a><span xml:space="preserve" class="s2072431CL"> for effective dates) Mortgage loan originator license--Required findings.</span></p><p dir="ltr" class="s2072431Normal-000000"><span class="s2072431DefaultParagraphFont">The director may not issue a mortgage loan originator license unless the director makes the following findings:</span></p><p dir="ltr" class="s2072431Normal-000001"><span class="s2072431DefaultParagraphFont">(1)    The applicant has never had a mortgage loan originator license revoked in any governmental jurisdiction. No revocation for which there has been a subsequent formal vacation of the revocation may be considered by the director;</span></p><p dir="ltr" class="s2072431Normal-000001"><span class="s2072431DefaultParagraphFont">(2)    The applicant has not been convicted of, or pled guilty or nolo contendere to, a felony in a domestic, foreign, or military court:</span></p><p dir="ltr" class="s2072431Normal-000002"><span class="s2072431DefaultParagraphFont">(a)    During the seven year period preceding the date of the application for licensing and registration; or</span></p><p dir="ltr" class="s2072431Normal-000002"><span class="s2072431DefaultParagraphFont">(b)    At any time preceding the date of application, if the felony involved an act of fraud, dishonesty, breach of trust, or money laundering.</span></p><p dir="ltr" class="s2072431Normal-000003"><span class="s2072431DefaultParagraphFont">No pardon of a conviction may be considered a conviction for purposes of this subdivision;</span></p><p dir="ltr" class="s2072431Normal-000001"><span class="s2072431DefaultParagraphFont">(3)    The applicant has demonstrated financial responsibility, character, and general fitness such as to command the confidence of the community and to warrant a determination that the mortgage loan originator will operate honestly, fairly, and efficiently within the purposes of this chapter. For purposes of this subdivision, an applicant shows a lack of financial responsibility if the applicant has shown a disregard in the management of his or her own financial affairs. Factors to be considered may include current outstanding judgments, except judgments solely as a result of medical expenses; current outstanding tax liens or other governmental liens and filings; foreclosures within the past three years; or a pattern of seriously delinquent accounts within the past three years;</span></p><p dir="ltr" class="s2072431Normal-000001"><span xml:space="preserve" class="s2072431DefaultParagraphFont">(4)    The applicant has completed the pre-licensing education requirement provided for by rule pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-14-31"><span class="s2072431DefaultParagraphFont">54-14-31</span></a><span class="s2072431DefaultParagraphFont">;</span></p><p dir="ltr" class="s2072431Normal-000001"><span xml:space="preserve" class="s2072431DefaultParagraphFont">(5)    The applicant has passed a written test that meets the test requirement provided for by rule pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-14-31"><span class="s2072431DefaultParagraphFont">54-14-31</span></a><span class="s2072431DefaultParagraphFont">; and</span></p><p dir="ltr" class="s2072431Normal-000001"><span xml:space="preserve" class="s2072431DefaultParagraphFont">(6)    The applicant has met the surety bond requirement as required by § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-14-24"><span class="s2072431DefaultParagraphFont">54-14-24</span></a><span xml:space="preserve" class="s2072431DefaultParagraphFont"> and provided for by rule pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-14-24"><span class="s2072431DefaultParagraphFont">54-14-24</span></a><span class="s2072431DefaultParagraphFont">.</span></p><p dir="ltr" class="s2072431Normal"><span xml:space="preserve" class="s2072431000004"> </span></p><p dir="ltr" class="s2072431Normal"><span class="s2072431SCL">Source:</span><span xml:space="preserve" class="s2072431SCL-000005"> SL 2009, ch 251, § 7.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072432Normal { 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.s2072432SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072432CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072432Normal-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.s2072432DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072432Normal-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.s2072432000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072432SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072432SCL-000003 { 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="s2072432Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-14-13.2"><span class="s2072432SENU">54-14-13.2</span></a><span xml:space="preserve" class="s2072432SENU">. </span><span xml:space="preserve" class="s2072432CL">(See § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-14-13.3"><span class="s2072432CL">54-14-13.3</span></a><span xml:space="preserve" class="s2072432CL"> for effective dates) Mortgage loan originator license--Renewal standards.</span></p><p dir="ltr" class="s2072432Normal-000000"><span class="s2072432DefaultParagraphFont">The minimum standards for license renewal for mortgage loan originators shall include the following:</span></p><p dir="ltr" class="s2072432Normal-000001"><span xml:space="preserve" class="s2072432DefaultParagraphFont">(1)    The mortgage loan originator continues to meet the minimum standards for license issuance under subdivisions </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-14-13.1"><span class="s2072432DefaultParagraphFont">54-14-13.1</span></a><span class="s2072432DefaultParagraphFont">(1) to (5), inclusive; and</span></p><p dir="ltr" class="s2072432Normal-000001"><span xml:space="preserve" class="s2072432DefaultParagraphFont">(2)    The mortgage loan originator has satisfied the annual continuing education requirements provided by rule pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-14-31"><span class="s2072432DefaultParagraphFont">54-14-31</span></a><span class="s2072432DefaultParagraphFont">.</span></p><p dir="ltr" class="s2072432Normal"><span xml:space="preserve" class="s2072432000002"> </span></p><p dir="ltr" class="s2072432Normal"><span class="s2072432SCL">Source:</span><span xml:space="preserve" class="s2072432SCL-000003"> SL 2009, ch 251, § 9.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072433Normal { 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.s2072433SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072433CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072433Normal-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.s2072433DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072433Normal-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.s2072433000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072433SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072433SCL-000003 { 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="s2072433Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-14-13.3"><span class="s2072433SENU">54-14-13.3</span></a><span xml:space="preserve" class="s2072433SENU">. </span><span xml:space="preserve" class="s2072433CL">Effective dates of §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-14-13.1"><span class="s2072433CL">54-14-13.1</span></a><span xml:space="preserve" class="s2072433CL"> and </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-14-13.2"><span class="s2072433CL">54-14-13.2</span></a><span class="s2072433CL">.</span></p><p dir="ltr" class="s2072433Normal-000000"><span xml:space="preserve" class="s2072433DefaultParagraphFont">The effective dates of §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-14-13.1"><span class="s2072433DefaultParagraphFont">54-14-13.1</span></a><span xml:space="preserve" class="s2072433DefaultParagraphFont"> and </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-14-13.2"><span class="s2072433DefaultParagraphFont">54-14-13.2</span></a><span xml:space="preserve" class="s2072433DefaultParagraphFont"> are as follows:</span></p><p dir="ltr" class="s2072433Normal-000001"><span class="s2072433DefaultParagraphFont">(1)    July 31, 2010, for any individual other than an individual described in subdivision (2); and</span></p><p dir="ltr" class="s2072433Normal-000001"><span class="s2072433DefaultParagraphFont">(2)    December 31, 2010, for any individual licensed as a mortgage loan originator as of July 1, 2009.</span></p><p dir="ltr" class="s2072433Normal"><span xml:space="preserve" class="s2072433000002"> </span></p><p dir="ltr" class="s2072433Normal"><span class="s2072433SCL">Source:</span><span xml:space="preserve" class="s2072433SCL-000003"> SL 2009, ch 251, § 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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072434Normal { 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.s2072434SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072434CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072434Normal-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.s2072434DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072434000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072434SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072434SCL-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="s2072434Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-14-13.4"><span class="s2072434SENU">54-14-13.4</span></a><span xml:space="preserve" class="s2072434SENU">. </span><span class="s2072434CL">License required for loan processor or underwriter--Identification through nationwide mortgage licensing system and registry.</span></p><p dir="ltr" class="s2072434Normal-000000"><span class="s2072434DefaultParagraphFont">No loan processor or underwriter who is an independent contractor may engage in the activities of a loan processor or underwriter unless the loan processor or underwriter obtains and maintains a license under this chapter. Each loan processor or underwriter who is an independent contractor licensed as a mortgage loan originator shall have and maintain a valid unique identifier issued by the nationwide mortgage licensing system and registry.</span></p><p dir="ltr" class="s2072434Normal"><span xml:space="preserve" class="s2072434000001"> </span></p><p dir="ltr" class="s2072434Normal"><span class="s2072434SCL">Source:</span><span xml:space="preserve" class="s2072434SCL-000002"> SL 2009, ch 251, § 13.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072435Normal { 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.s2072435SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072435CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072435Normal-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.s2072435DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072435Normal-000001 { margin-top: 0; margin-bottom: 0; text-indent: 0.25in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2072435000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072435SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072435SCL-000003 { 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="s2072435Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-14-13.5"><span class="s2072435SENU">54-14-13.5</span></a><span xml:space="preserve" class="s2072435SENU">. </span><span class="s2072435CL">License required for company originating, selling, or servicing nonresidential mortgage loans.</span></p><p dir="ltr" class="s2072435Normal-000000"><span xml:space="preserve" class="s2072435DefaultParagraphFont">Any company who, for valuable consideration, originates, sells, or services nonresidential mortgage loans, shall apply for, on forms prescribed by the director, and maintain, a mortgage lending license and is subject to the tax as provided in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-14-30"><span class="s2072435DefaultParagraphFont">54-14-30</span></a><span xml:space="preserve" class="s2072435DefaultParagraphFont">. The tax required in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-14-30"><span class="s2072435DefaultParagraphFont">54-14-30</span></a><span xml:space="preserve" class="s2072435DefaultParagraphFont"> shall be imposed only on those loans funded after December 31, 2009. The requirement of a surety bond as provided in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-14-24"><span class="s2072435DefaultParagraphFont">54-14-24</span></a><span xml:space="preserve" class="s2072435DefaultParagraphFont"> does not apply to a company licensed under this section.</span></p><p dir="ltr" class="s2072435Normal-000001"><span class="s2072435DefaultParagraphFont">Any individual solely employed by or solely acting as an intermediary on behalf of a company licensed pursuant to this section is not required to hold an individual license under this chapter. Any individual acting as an intermediary, on behalf of a company licensed as provided in this section, shall be disclosed to the director during the application process and annually thereafter.</span></p><p dir="ltr" class="s2072435Normal-000001"><span class="s2072435DefaultParagraphFont">The requirements of registration with the nationwide mortgage licensing system and registry do not apply to any company or its employees or intermediaries licensed pursuant to this section.</span></p><p dir="ltr" class="s2072435Normal"><span xml:space="preserve" class="s2072435000002"> </span></p><p dir="ltr" class="s2072435Normal"><span class="s2072435SCL">Source:</span><span xml:space="preserve" class="s2072435SCL-000003"> SL 2009, ch 251, § 27; SL 2012, ch 252, § 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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072436Normal { 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.s2072436SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072436CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072436Normal-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.s2072436DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072436000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072436SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072436SCL-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="s2072436Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-14-14"><span class="s2072436SENU">54-14-14</span></a><span xml:space="preserve" class="s2072436SENU">. </span><span class="s2072436CL">Application for licensure or registration.</span></p><p dir="ltr" class="s2072436Normal-000000"><span class="s2072436DefaultParagraphFont">Any applicant for licensure or registration shall submit to the director an application on forms prescribed by the division. The forms shall include, at a minimum, all addresses at which business is to be conducted, the names and titles of each director and principal officer of the business, and a description of the business activities and experience of the applicant.</span></p><p dir="ltr" class="s2072436Normal"><span xml:space="preserve" class="s2072436000001"> </span></p><p dir="ltr" class="s2072436Normal"><span class="s2072436SCL">Source:</span><span xml:space="preserve" class="s2072436SCL-000002"> SL 2007, ch 279, § 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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072437Normal { 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.s2072437SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072437CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072437Normal-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.s2072437DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072437Normal-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; } p.s2072437Normal-000002 { margin-left: 1.14in; text-indent: -0.44in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } p.s2072437Normal-000003 { text-indent: 0.25in; 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.s2072437000004 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072437SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072437SCL-000005 { 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="s2072437Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-14-15"><span class="s2072437SENU">54-14-15</span></a><span xml:space="preserve" class="s2072437SENU">. </span><span class="s2072437CL">Information to be furnished to nationwide mortgage licensing system and registry--Distribution of information--Criminal background check.</span></p><p dir="ltr" class="s2072437Normal-000000"><span class="s2072437DefaultParagraphFont">In connection with an application for licensing as a mortgage lender, mortgage broker, or mortgage loan originator, the applicant shall furnish to the nationwide mortgage licensing system and registry information concerning the applicant's identity, including:</span></p><p dir="ltr" class="s2072437Normal-000001"><span class="s2072437DefaultParagraphFont">(1)    Fingerprints for submission to the Federal Bureau of Investigation, and any governmental agency or entity authorized to receive such information, for a state, national, and international criminal history background check; and</span></p><p dir="ltr" class="s2072437Normal-000001"><span class="s2072437DefaultParagraphFont">(2)    Personal history and experience in a form prescribed by the nationwide mortgage licensing system and registry, including the submission of authorization for the nationwide mortgage licensing system and registry and the director to obtain:</span></p><p dir="ltr" class="s2072437Normal-000002"><span class="s2072437DefaultParagraphFont">(a)    An independent credit report from a consumer reporting agency described in 15 U.S.C. § 1681(a) as of January 1, 2009; and</span></p><p dir="ltr" class="s2072437Normal-000002"><span class="s2072437DefaultParagraphFont">(b)    Information related to any administrative, civil, or criminal findings by any governmental jurisdiction.</span></p><p dir="ltr" class="s2072437Normal-000003"><span class="s2072437DefaultParagraphFont">The Division of Banking may require a state and federal criminal background check for any licensee who is the subject of a disciplinary investigation by the division. Failure to submit or cooperate with the criminal background investigation is grounds for denial of an application or may result in revocation of a license. The applicant shall pay for any fees charged for the cost of fingerprinting or the criminal background investigation.</span></p><p dir="ltr" class="s2072437Normal-000003"><span class="s2072437DefaultParagraphFont">The director may use the nationwide mortgage licensing system and registry as a channeling agent for requesting information from and distributing information to the United States Department of Justice or any governmental agency. The director may use the nationwide mortgage licensing system and registry as a channeling agent for requesting and distributing information to and from any source so directed by the director.</span></p><p dir="ltr" class="s2072437Normal"><span xml:space="preserve" class="s2072437000004"> </span></p><p dir="ltr" class="s2072437Normal"><span class="s2072437SCL">Source:</span><span xml:space="preserve" class="s2072437SCL-000005"> SL 2007, ch 279, § 4; SL 2009, ch 251, § 8.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072438Normal { 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.s2072438SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072438CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072438Normal-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.s2072438DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072438000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072438SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072438SCL-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="s2072438Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-14-16"><span class="s2072438SENU">54-14-16</span></a><span xml:space="preserve" class="s2072438SENU">. </span><span class="s2072438CL">Fees.</span></p><p dir="ltr" class="s2072438Normal-000000"><span xml:space="preserve" class="s2072438DefaultParagraphFont">The applicant for an initial license shall submit a fee in the amount of not more than two hundred fifty dollars for a mortgage loan originator, not more than five hundred dollars for a mortgage broker or mortgage brokerage license, and not more than one thousand dollars for a mortgage lender license. The director shall establish the fees by rules promulgated pursuant to chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=1-26"><span class="s2072438DefaultParagraphFont">1-26</span></a><span class="s2072438DefaultParagraphFont">.</span></p><p dir="ltr" class="s2072438Normal"><span xml:space="preserve" class="s2072438000001"> </span></p><p dir="ltr" class="s2072438Normal"><span class="s2072438SCL">Source:</span><span xml:space="preserve" class="s2072438SCL-000002"> SL 2007, ch 279, § 5; SL 2009, ch 251, § 10.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072439Normal { 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.s2072439SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072439CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072439Normal-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.s2072439DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072439000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072439SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072439SCL-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="s2072439Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-14-17"><span class="s2072439SENU">54-14-17</span></a><span xml:space="preserve" class="s2072439SENU">. </span><span class="s2072439CL">License and registration not assignable.</span></p><p dir="ltr" class="s2072439Normal-000000"><span class="s2072439DefaultParagraphFont">No license or registration granted pursuant to this chapter is assignable.</span></p><p dir="ltr" class="s2072439Normal"><span xml:space="preserve" class="s2072439000001"> </span></p><p dir="ltr" class="s2072439Normal"><span class="s2072439SCL">Source:</span><span xml:space="preserve" class="s2072439SCL-000002"> SL 2007, ch 279, § 6.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072440Normal { 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.s2072440SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072440CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072440Normal-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.s2072440DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072440000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072440SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072440SCL-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="s2072440Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-14-18"><span class="s2072440SENU">54-14-18</span></a><span xml:space="preserve" class="s2072440SENU">. </span><span class="s2072440CL">Expiration of license or registration.</span></p><p dir="ltr" class="s2072440Normal-000000"><span class="s2072440DefaultParagraphFont">Any license or registration granted under this chapter expires on the following December thirty-first after its issuance.</span></p><p dir="ltr" class="s2072440Normal"><span xml:space="preserve" class="s2072440000001"> </span></p><p dir="ltr" class="s2072440Normal"><span class="s2072440SCL">Source:</span><span xml:space="preserve" class="s2072440SCL-000002"> SL 2007, ch 279, § 7.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072441Normal { 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.s2072441SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072441CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072441Normal-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.s2072441DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072441000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072441SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072441SCL-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="s2072441Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-14-19"><span class="s2072441SENU">54-14-19</span></a><span xml:space="preserve" class="s2072441SENU">. </span><span class="s2072441CL">Fees for renewal of license.</span></p><p dir="ltr" class="s2072441Normal-000000"><span xml:space="preserve" class="s2072441DefaultParagraphFont">Any application for renewal of a license under this chapter shall be postmarked to the director by December first and shall be accompanied by a fee to be established by the director by rules promulgated pursuant to chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=1-26"><span class="s2072441DefaultParagraphFont">1-26</span></a><span xml:space="preserve" class="s2072441DefaultParagraphFont">. The fee to transact business as a mortgage loan originator may not exceed two hundred fifty dollars. The fee to transact business as a mortgage broker or mortgage brokerage may not exceed five hundred dollars. The fee to transact business as a mortgage lender may not exceed one thousand dollars. Any licensee or registrant that files for renewal after December first and before January first of the next calendar year shall pay a late fee in addition to the renewal fee. The late fee, not to exceed twenty-five percent of the renewal fee, shall be established by the director by rules promulgated pursuant to chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=1-26"><span class="s2072441DefaultParagraphFont">1-26</span></a><span xml:space="preserve" class="s2072441DefaultParagraphFont">. After January first no license may be issued unless an application is filed pursuant to §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-14-13"><span class="s2072441DefaultParagraphFont">54-14-13</span></a><span xml:space="preserve" class="s2072441DefaultParagraphFont"> to </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-14-16"><span class="s2072441DefaultParagraphFont">54-14-16</span></a><span class="s2072441DefaultParagraphFont">, inclusive.</span></p><p dir="ltr" class="s2072441Normal"><span xml:space="preserve" class="s2072441000001"> </span></p><p dir="ltr" class="s2072441Normal"><span class="s2072441SCL">Source:</span><span xml:space="preserve" class="s2072441SCL-000002"> SL 2007, ch 279, § 8; SL 2009, ch 251, § 11.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072442Normal { 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.s2072442SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072442CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072442Normal-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.s2072442DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072442000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072442SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072442SCL-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="s2072442Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-14-20"><span class="s2072442SENU">54-14-20</span></a><span xml:space="preserve" class="s2072442SENU">. </span><span class="s2072442CL">Exemption of certain entities from chapter.</span></p><p dir="ltr" class="s2072442Normal-000000"><span xml:space="preserve" class="s2072442DefaultParagraphFont">The State of South Dakota, any political subdivision of the state, and any quasi-governmental organization created by an executive order of the State of South Dakota and any subsidiary of such organization; any nonprofit corporation formed pursuant to chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=47-22"><span class="s2072442DefaultParagraphFont">47-22</span></a><span xml:space="preserve" class="s2072442DefaultParagraphFont">; any nonprofit United States Treasury Community Development Financial Institution, Small Business Administration Certified Development Company, or Regional Revolving Loan Fund; or any commercial club, chamber of commerce, or industrial development corporation formed pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=9-12-11"><span class="s2072442DefaultParagraphFont">9-12-11</span></a><span xml:space="preserve" class="s2072442DefaultParagraphFont"> or </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=9-27-37"><span class="s2072442DefaultParagraphFont">9-27-37</span></a><span xml:space="preserve" class="s2072442DefaultParagraphFont"> is exempt from the requirements of this chapter.</span></p><p dir="ltr" class="s2072442Normal"><span xml:space="preserve" class="s2072442000001"> </span></p><p dir="ltr" class="s2072442Normal"><span class="s2072442SCL">Source:</span><span xml:space="preserve" class="s2072442SCL-000002"> SL 2007, ch 279, § 9; SL 2008, ch 256, § 1; SL 2009, ch 251, § 24.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072443Normal { 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.s2072443SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072443CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072443Normal-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.s2072443DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072443Normal-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.s2072443000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072443SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072443SCL-000003 { 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="s2072443Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-14-20.1"><span class="s2072443SENU">54-14-20.1</span></a><span xml:space="preserve" class="s2072443SENU">. </span><span class="s2072443CL">Exemption of certain persons from mortgage loan originator license requirement.</span></p><p dir="ltr" class="s2072443Normal-000000"><span class="s2072443DefaultParagraphFont">The following are exempt from the requirement of obtaining a mortgage loan originator license:</span></p><p dir="ltr" class="s2072443Normal-000001"><span class="s2072443DefaultParagraphFont">(1)    Any individual who offers or negotiates terms of a mortgage loan with or on behalf of an immediate family member of the individual;</span></p><p dir="ltr" class="s2072443Normal-000001"><span class="s2072443DefaultParagraphFont">(2)    Any individual who offers or negotiates terms of a residential mortgage loan secured by a dwelling that served as the individual's residence; or</span></p><p dir="ltr" class="s2072443Normal-000001"><span class="s2072443DefaultParagraphFont">(3)    Any individual who, on, before, or after July 1, 2017, offers or negotiates terms of five or fewer nonresidential mortgage loans in a twelve-month period as long as the total amount of the loans outstanding does not exceed four million dollars.</span></p><p dir="ltr" class="s2072443Normal"><span xml:space="preserve" class="s2072443000002"> </span></p><p dir="ltr" class="s2072443Normal"><span class="s2072443SCL">Source:</span><span xml:space="preserve" class="s2072443SCL-000003"> SL 2009, ch 251, § 23; SL 2012, ch 237, § 1; SL 2017, ch 207, § 2.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072444Normal { 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.s2072444SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072444CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072444Normal-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.s2072444DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072444Normal-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.s2072444000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072444SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072444SCL-000003 { 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="s2072444Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-14-20.2"><span class="s2072444SENU">54-14-20.2</span></a><span xml:space="preserve" class="s2072444SENU">. </span><span class="s2072444CL">Exemption of attorneys from mortgage loan originator license requirement.</span></p><p dir="ltr" class="s2072444Normal-000000"><span class="s2072444DefaultParagraphFont">Any attorney licensed in this state performing activities that come within the definition of a mortgage loan originator, is not required to be licensed as a mortgage loan originator if such activities are:</span></p><p dir="ltr" class="s2072444Normal-000001"><span class="s2072444DefaultParagraphFont">(1)    Considered by the South Dakota Supreme Court to be part of the authorized practice of law in South Dakota;</span></p><p dir="ltr" class="s2072444Normal-000001"><span class="s2072444DefaultParagraphFont">(2)    Carried out within an attorney-client relationship; and</span></p><p dir="ltr" class="s2072444Normal-000001"><span class="s2072444DefaultParagraphFont">(3)    Accomplished by the attorney in compliance with all applicable laws, rules, and standards of professional conduct.</span></p><p dir="ltr" class="s2072444Normal"><span xml:space="preserve" class="s2072444000002"> </span></p><p dir="ltr" class="s2072444Normal"><span class="s2072444SCL">Source:</span><span xml:space="preserve" class="s2072444SCL-000003"> SL 2012, ch 237, § 2.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072445Normal { 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.s2072445SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072445CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072445Normal-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.s2072445DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072445Normal-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; } p.s2072445Normal-000002 { text-indent: 0.25in; 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.s2072445000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072445SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072445SCL-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="s2072445Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-14-21"><span class="s2072445SENU">54-14-21</span></a><span xml:space="preserve" class="s2072445SENU">. </span><span class="s2072445CL">Exemption of certain entities from licensing requirements.</span></p><p dir="ltr" class="s2072445Normal-000000"><span class="s2072445DefaultParagraphFont">The following entities are exempt from the requirement of a mortgage lender, mortgage brokerage, or mortgage broker license as required by this chapter:</span></p><p dir="ltr" class="s2072445Normal-000001"><span class="s2072445DefaultParagraphFont">(1)    Any state bank and its subsidiary;</span></p><p dir="ltr" class="s2072445Normal-000001"><span class="s2072445DefaultParagraphFont">(2)    Any national bank and its subsidiary;</span></p><p dir="ltr" class="s2072445Normal-000001"><span class="s2072445DefaultParagraphFont">(3)    Any bank holding company and its subsidiary;</span></p><p dir="ltr" class="s2072445Normal-000001"><span class="s2072445DefaultParagraphFont">(4)    Any other federally insured financial institution, and its holding company and subsidiary; and</span></p><p dir="ltr" class="s2072445Normal-000001"><span class="s2072445DefaultParagraphFont">(5)    Any South Dakota chartered trust company.</span></p><p dir="ltr" class="s2072445Normal-000002"><span class="s2072445DefaultParagraphFont">Any registered mortgage loan originator, if acting for a depository institution, is exempt from the provisions of this chapter.</span></p><p dir="ltr" class="s2072445Normal"><span xml:space="preserve" class="s2072445000003"> </span></p><p dir="ltr" class="s2072445Normal"><span class="s2072445SCL">Source:</span><span xml:space="preserve" class="s2072445SCL-000004"> SL 2007, ch 279, § 10; SL 2009, ch 251, § 12.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072446Normal { 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.s2072446SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072446CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2072446Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-14-22"><span class="s2072446SENU">54-14-22</span></a><span xml:space="preserve" class="s2072446SENU">. </span><span class="s2072446CL">Repealed by SL 2012, ch 252, § 29.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072447Normal { 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.s2072447SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072447CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072447Normal-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.s2072447DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072447000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072447SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072447SCL-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="s2072447Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-14-23"><span class="s2072447SENU">54-14-23</span></a><span xml:space="preserve" class="s2072447SENU">. </span><span class="s2072447CL">Mortgage broker or lender permitted to use services of mortgage loan originator.</span></p><p dir="ltr" class="s2072447Normal-000000"><span xml:space="preserve" class="s2072447DefaultParagraphFont"> Any mortgage broker or mortgage lender licensed to practice in the State of South Dakota may use the services of a mortgage loan originator that operates under direct control and supervision of the mortgage broker or mortgage lender. The mortgage loan originator shall be registered by the director and while registered and employed by a mortgage broker or mortgage lender may not be deemed to be operating as a mortgage broker or mortgage lender.</span></p><p dir="ltr" class="s2072447Normal"><span xml:space="preserve" class="s2072447000001"> </span></p><p dir="ltr" class="s2072447Normal"><span class="s2072447SCL">Source:</span><span xml:space="preserve" class="s2072447SCL-000002"> SL 2007, ch 279, § 12.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072448Normal { 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.s2072448SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072448CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072448Normal-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.s2072448DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072448Normal-000001 { text-indent: 0.25in; 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.s2072448Normal-000002 { 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.s2072448000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072448SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072448SCL-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="s2072448Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-14-24"><span class="s2072448SENU">54-14-24</span></a><span xml:space="preserve" class="s2072448SENU">. </span><span class="s2072448CL">Surety bond requirements.</span></p><p dir="ltr" class="s2072448Normal-000000"><span class="s2072448DefaultParagraphFont">Each mortgage lender, mortgage brokerage, mortgage broker, or mortgage loan originator shall submit with any application, and maintain at all times, a surety bond in an amount that reflects the total dollar amount of loans originated by the licensee and the licensee's employees and agents, but not less than twenty-five thousand dollars. The surety bond shall be in a form and amount as prescribed by the director.</span></p><p dir="ltr" class="s2072448Normal-000001"><span class="s2072448DefaultParagraphFont">Each mortgage loan originator and mortgage broker shall be covered by a surety bond in accordance with this section. If the mortgage loan originator or mortgage broker is an employee or exclusive agent of a person subject to this chapter, the surety bond of such person can be used in lieu of the mortgage loan originator or mortgage broker's surety bond requirement. The surety bond shall provide coverage for each mortgage loan originator and mortgage broker in an amount prescribed by this section.</span></p><p dir="ltr" class="s2072448Normal-000001"><span class="s2072448DefaultParagraphFont">The bond shall be issued by a surety company qualified to do business as a surety in this state. The bond shall be in favor of this state for the use of this state and any person who has a cause of action under this chapter against the licensee. The bond shall be conditioned on:</span></p><p dir="ltr" class="s2072448Normal-000002"><span class="s2072448DefaultParagraphFont">(1)    The licensee's faithful performance under this chapter and any rules adopted pursuant to this chapter; and</span></p><p dir="ltr" class="s2072448Normal-000002"><span class="s2072448DefaultParagraphFont">(2)    The payment of any amounts that are due to the state or another person during the time the bond is in force.</span></p><p dir="ltr" class="s2072448Normal-000001"><span class="s2072448DefaultParagraphFont">The bond may be continuous, and regardless of how long the bond remains in force, the aggregate liability of a surety to all persons damaged by a licensee's violation of the provisions of this chapter may not exceed the amount of the bond. The bond may be cancelled by the surety upon thirty days notice to the licensee and the director, and the surety's liability on the bond shall also terminate upon the effective date of any suspension or revocation of the license.</span></p><p dir="ltr" class="s2072448Normal-000001"><span class="s2072448DefaultParagraphFont">If an action is commenced on a licensee's bond, the director may require the filing of a new bond. Immediately upon recovery in any action on the bond the licensee shall file a new bond.</span></p><p dir="ltr" class="s2072448Normal-000001"><span xml:space="preserve" class="s2072448DefaultParagraphFont">The director may promulgate rules pursuant to chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=1-26"><span class="s2072448DefaultParagraphFont">1-26</span></a><span xml:space="preserve" class="s2072448DefaultParagraphFont"> with respect to the requirements for such surety bonds as are necessary to accomplish the purposes of this chapter.</span></p><p dir="ltr" class="s2072448Normal"><span xml:space="preserve" class="s2072448000003"> </span></p><p dir="ltr" class="s2072448Normal"><span class="s2072448SCL">Source:</span><span xml:space="preserve" class="s2072448SCL-000004"> SL 2007, ch 279, § 13; SL 2008, ch 255, § 2; SL 2009, ch 251, § 14.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072449Normal { 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.s2072449SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072449CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072449Normal-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.s2072449DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072449000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072449SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072449SCL-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="s2072449Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-14-25"><span class="s2072449SENU">54-14-25</span></a><span xml:space="preserve" class="s2072449SENU">. </span><span class="s2072449CL">Violation of license or registration requirements--Misdemeanor.</span></p><p dir="ltr" class="s2072449Normal-000000"><span class="s2072449DefaultParagraphFont">Any person, who without first obtaining a license or registration under this chapter, engages in the business or occupation of, or advertises or holds the person out as, or claims to be, or temporarily acts as, a mortgage broker, mortgage brokerage, mortgage lender, or mortgage loan originator in this state is guilty of a Class 2 misdemeanor and may be held responsible for all costs of prosecution, including restitution.</span></p><p dir="ltr" class="s2072449Normal"><span xml:space="preserve" class="s2072449000001"> </span></p><p dir="ltr" class="s2072449Normal"><span class="s2072449SCL">Source:</span><span xml:space="preserve" class="s2072449SCL-000002"> SL 2007, ch 279, § 14; SL 2009, ch 251, § 26.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072450Normal { 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.s2072450SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072450CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072450Normal-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.s2072450DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072450000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072450SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072450SCL-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="s2072450Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-14-25.1"><span class="s2072450SENU">54-14-25.1</span></a><span xml:space="preserve" class="s2072450SENU">. </span><span class="s2072450CL">Civil penalty for acting without required license or registration.</span></p><p dir="ltr" class="s2072450Normal-000000"><span class="s2072450DefaultParagraphFont">The director may impose a civil penalty in an amount not to exceed one thousand dollars upon any person acting as a mortgage lender, mortgage brokerage, mortgage broker, or mortgage loan originator in this state without the required license or registration. Each instance of operating without a license, or holding oneself out as being authorized to conduct the business authorized by this chapter, constitutes a separate violation of this chapter and subjects any such person to a civil penalty for each violation. A civil penalty for a series of violations may not exceed twenty-five thousand dollars.</span></p><p dir="ltr" class="s2072450Normal"><span xml:space="preserve" class="s2072450000001"> </span></p><p dir="ltr" class="s2072450Normal"><span class="s2072450SCL">Source:</span><span xml:space="preserve" class="s2072450SCL-000002"> SL 2009, ch 251, § 15.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072451Normal { 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.s2072451SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072451CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072451Normal-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.s2072451DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072451000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072451SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072451SCL-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="s2072451Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-14-26"><span class="s2072451SENU">54-14-26</span></a><span xml:space="preserve" class="s2072451SENU">. </span><span class="s2072451CL">Examination and investigation by director.</span></p><p dir="ltr" class="s2072451Normal-000000"><span xml:space="preserve" class="s2072451DefaultParagraphFont">Any licensee or registrant is subject to examination and investigation by the director. The director shall promulgate rules pursuant to chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=1-26"><span class="s2072451DefaultParagraphFont">1-26</span></a><span xml:space="preserve" class="s2072451DefaultParagraphFont"> that specify the process by which examinations and investigations will be performed.</span></p><p dir="ltr" class="s2072451Normal"><span xml:space="preserve" class="s2072451000001"> </span></p><p dir="ltr" class="s2072451Normal"><span class="s2072451SCL">Source:</span><span xml:space="preserve" class="s2072451SCL-000002"> SL 2007, ch 279, § 15.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072452Normal { 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.s2072452SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072452CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072452Normal-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.s2072452DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072452Normal-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; } p.s2072452Normal-000002 { text-indent: 0.25in; 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.s2072452000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072452SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072452SCL-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="s2072452Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-14-27"><span class="s2072452SENU">54-14-27</span></a><span xml:space="preserve" class="s2072452SENU">. </span><span class="s2072452CL">Conditioning, denial, nonrenewal, suspension, or revocation of license.</span></p><p dir="ltr" class="s2072452Normal-000000"><span class="s2072452DefaultParagraphFont">The director may condition, deny, decline to renew, suspend for a period not to exceed six months, or revoke a license if the director finds:</span></p><p dir="ltr" class="s2072452Normal-000001"><span class="s2072452DefaultParagraphFont">(1)    Any fact or condition exists that, if it had existed at the time the licensee applied for its license, would have been grounds for denying the application;</span></p><p dir="ltr" class="s2072452Normal-000001"><span class="s2072452DefaultParagraphFont">(2)    The licensee violated any provisions of this chapter or any rule or order promulgated by the director;</span></p><p dir="ltr" class="s2072452Normal-000001"><span class="s2072452DefaultParagraphFont">(3)    The licensee refuses to permit the director to make any examination authorized by this chapter or rule promulgated pursuant to this chapter, or any federal statute, rule, or regulation pertaining to mortgage lending;</span></p><p dir="ltr" class="s2072452Normal-000001"><span class="s2072452DefaultParagraphFont">(4)    The licensee willfully fails to make any report required of this chapter;</span></p><p dir="ltr" class="s2072452Normal-000001"><span class="s2072452DefaultParagraphFont">(5)    The competence, experience, character, or general fitness of the licensee indicates that it is not in the public interest to permit the licensee to continue to conduct business;</span></p><p dir="ltr" class="s2072452Normal-000001"><span class="s2072452DefaultParagraphFont">(6)    The bond of the licensee has been revoked or cancelled by the surety;</span></p><p dir="ltr" class="s2072452Normal-000001"><span class="s2072452DefaultParagraphFont">(7)    The licensee or any partner, officer, director, manager, or employee of the licensee has been convicted of a felony or a misdemeanor involving any aspect of the financial services business;</span></p><p dir="ltr" class="s2072452Normal-000001"><span class="s2072452DefaultParagraphFont">(8)    The licensee or any partner, officer, director, manager, or employee of the licensee has had a license substantially equivalent to a license under this chapter, and issued by another state, denied, revoked or suspended under the laws of that state;</span></p><p dir="ltr" class="s2072452Normal-000001"><span class="s2072452DefaultParagraphFont">(9)    The licensee has filed an application for a license which as of the date the license was issued, or as of the date of an order denying, suspending, or revoking a license, was incomplete in any material respect or contained any statement that was, in light of the circumstances under which it was made, false or misleading with respect to any material fact.</span></p><p dir="ltr" class="s2072452Normal-000002"><span xml:space="preserve" class="s2072452DefaultParagraphFont">The director may revoke a license for good cause pursuant to chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=1-26"><span class="s2072452DefaultParagraphFont">1-26</span></a><span class="s2072452DefaultParagraphFont">. If the licensee is the holder of more than one license, the director may revoke any or all of the licenses.</span></p><p dir="ltr" class="s2072452Normal"><span xml:space="preserve" class="s2072452000003"> </span></p><p dir="ltr" class="s2072452Normal"><span class="s2072452SCL">Source:</span><span xml:space="preserve" class="s2072452SCL-000004"> SL 2007, ch 279, § 16; SL 2009, ch 251, § 16.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072453Normal { 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.s2072453SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072453CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072453Normal-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.s2072453DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072453000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072453SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072453SCL-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="s2072453Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-14-28"><span class="s2072453SENU">54-14-28</span></a><span xml:space="preserve" class="s2072453SENU">. </span><span class="s2072453CL">Reinstatement of license or registration--Termination of suspension--New license or registration.</span></p><p dir="ltr" class="s2072453Normal-000000"><span class="s2072453DefaultParagraphFont">The director may, in the director's discretion, reinstate a license or registration, terminate a suspension, or grant a new license or registration to any person whose license or registration has been revoked or suspended if no fact or condition then exists which would justify the director in refusing to grant a license or registration.</span></p><p dir="ltr" class="s2072453Normal"><span xml:space="preserve" class="s2072453000001"> </span></p><p dir="ltr" class="s2072453Normal"><span class="s2072453SCL">Source:</span><span xml:space="preserve" class="s2072453SCL-000002"> SL 2007, ch 279, § 17.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072454Normal { 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.s2072454SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072454CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072454Normal-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.s2072454DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072454000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072454SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072454SCL-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="s2072454Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-14-29"><span class="s2072454SENU">54-14-29</span></a><span xml:space="preserve" class="s2072454SENU">. </span><span class="s2072454CL">Procedure for contesting suspension or revocation.</span></p><p dir="ltr" class="s2072454Normal-000000"><span xml:space="preserve" class="s2072454DefaultParagraphFont">Any licensee whose license or registration is subject to suspension or revocation by the director, may contest such suspension or revocation in accordance with the provisions of chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=1-26"><span class="s2072454DefaultParagraphFont">1-26</span></a><span class="s2072454DefaultParagraphFont">.</span></p><p dir="ltr" class="s2072454Normal"><span xml:space="preserve" class="s2072454000001"> </span></p><p dir="ltr" class="s2072454Normal"><span class="s2072454SCL">Source:</span><span xml:space="preserve" class="s2072454SCL-000002"> SL 2007, ch 279, § 18.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072455Normal { 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.s2072455SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072455CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072455Normal-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.s2072455DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072455000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072455SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072455SCL-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="s2072455Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-14-30"><span class="s2072455SENU">54-14-30</span></a><span xml:space="preserve" class="s2072455SENU">. </span><span class="s2072455CL">Annual tax upon net income--Exemptions.</span></p><p dir="ltr" class="s2072455Normal-000000"><span xml:space="preserve" class="s2072455DefaultParagraphFont">Any licensee under this chapter, in addition to the license and other fees provided by this chapter, shall pay the annual tax provided in chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=10-43"><span class="s2072455DefaultParagraphFont">10-43</span></a><span xml:space="preserve" class="s2072455DefaultParagraphFont">, upon the net income of the licensee measured by the net income assignable to the licensee's business in South Dakota. The State of South Dakota, any political subdivision of the state, and any quasi-governmental organization created by an executive order of the State of South Dakota and any subsidiary of such organization; any nonprofit United States Treasury Community Development Financial Institution, Small Business Administration Certified Development Company, or Regional Revolving Loan Fund; or any commercial club, chamber of commerce, or industrial development corporation formed pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=9-12-11"><span class="s2072455DefaultParagraphFont">9-12-11</span></a><span xml:space="preserve" class="s2072455DefaultParagraphFont"> or </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=9-27-37"><span class="s2072455DefaultParagraphFont">9-27-37</span></a><span xml:space="preserve" class="s2072455DefaultParagraphFont"> is exempt from the payment of this tax.</span></p><p dir="ltr" class="s2072455Normal"><span xml:space="preserve" class="s2072455000001"> </span></p><p dir="ltr" class="s2072455Normal"><span class="s2072455SCL">Source:</span><span xml:space="preserve" class="s2072455SCL-000002"> SL 2007, ch 279, § 19.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072456Normal { 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.s2072456SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072456CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072456Normal-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.s2072456DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072456Normal-000001 { margin-top: 0; margin-bottom: 0; text-indent: 0.25in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2072456000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072456SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072456SCL-000003 { 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="s2072456Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-14-31"><span class="s2072456SENU">54-14-31</span></a><span xml:space="preserve" class="s2072456SENU">. </span><span class="s2072456CL">Promulgation of rules regarding licensing, education, and fees.</span></p><p dir="ltr" class="s2072456Normal-000000"><span xml:space="preserve" class="s2072456DefaultParagraphFont">The director may promulgate rules pursuant to chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=1-26"><span class="s2072456DefaultParagraphFont">1-26</span></a><span xml:space="preserve" class="s2072456DefaultParagraphFont"> for the pre-licensing education, written testing, continuing education, personal history, and experience checks of mortgage brokers, mortgage brokerages, mortgage lenders, and mortgage loan originators, and for the management and administration of licenses and registrations issued pursuant to this chapter.</span></p><p dir="ltr" class="s2072456Normal-000001"><span xml:space="preserve" class="s2072456DefaultParagraphFont">The director may promulgate rules pursuant to chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=1-26"><span class="s2072456DefaultParagraphFont">1-26</span></a><span xml:space="preserve" class="s2072456DefaultParagraphFont"> to establish fees required for the licensure and renewal of licenses through the nationwide mortgage licensing system and registry in addition to those fees established in §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-14-16"><span class="s2072456DefaultParagraphFont">54-14-16</span></a><span xml:space="preserve" class="s2072456DefaultParagraphFont"> and </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-14-19"><span class="s2072456DefaultParagraphFont">54-14-19</span></a><span class="s2072456DefaultParagraphFont">. Such fees may not exceed five hundred dollars.</span></p><p dir="ltr" class="s2072456Normal"><span xml:space="preserve" class="s2072456000002"> </span></p><p dir="ltr" class="s2072456Normal"><span class="s2072456SCL">Source:</span><span xml:space="preserve" class="s2072456SCL-000003"> SL 2007, ch 279, § 20; SL 2009, ch 251, § 17.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072457Normal { 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.s2072457SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072457CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072457Normal-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.s2072457DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072457000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072457SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072457SCL-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="s2072457Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-14-32"><span class="s2072457SENU">54-14-32</span></a><span xml:space="preserve" class="s2072457SENU">. </span><span class="s2072457CL">Disposition of fees.</span></p><p dir="ltr" class="s2072457Normal-000000"><span xml:space="preserve" class="s2072457DefaultParagraphFont">Fees collected pursuant to this chapter shall be deposited with the state treasurer in the banking special revenue fund created in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=51A-2-30"><span class="s2072457DefaultParagraphFont">51A-2-30</span></a><span class="s2072457DefaultParagraphFont">. Expenditures from the fund shall be appropriated through the normal budget process.</span></p><p dir="ltr" class="s2072457Normal"><span xml:space="preserve" class="s2072457000001"> </span></p><p dir="ltr" class="s2072457Normal"><span class="s2072457SCL">Source:</span><span xml:space="preserve" class="s2072457SCL-000002"> SL 2007, ch 279, § 22.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072458Normal { 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.s2072458SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072458CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072458Normal-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.s2072458DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072458000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072458SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072458SCL-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="s2072458Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-14-33"><span class="s2072458SENU">54-14-33</span></a><span xml:space="preserve" class="s2072458SENU">. </span><span class="s2072458CL">Contracts with nationwide mortgage licensing system.</span></p><p dir="ltr" class="s2072458Normal-000000"><span class="s2072458DefaultParagraphFont">The director may establish relationships or contracts with the nationwide mortgage licensing system and registry or other entities designated by the nationwide mortgage licensing system and registry to collect and maintain records and process transaction fees or other fees related to licensees or other persons subject to this chapter.</span></p><p dir="ltr" class="s2072458Normal"><span xml:space="preserve" class="s2072458000001"> </span></p><p dir="ltr" class="s2072458Normal"><span class="s2072458SCL">Source:</span><span xml:space="preserve" class="s2072458SCL-000002"> SL 2009, ch 251, § 18.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072459Normal { 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.s2072459SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072459CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072459Normal-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.s2072459DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072459000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072459SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072459SCL-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="s2072459Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-14-34"><span class="s2072459SENU">54-14-34</span></a><span xml:space="preserve" class="s2072459SENU">. </span><span class="s2072459CL">Promulgation of rules for challenging information entered in nationwide mortgage licensing system.</span></p><p dir="ltr" class="s2072459Normal-000000"><span xml:space="preserve" class="s2072459DefaultParagraphFont">The director shall establish a process through rules promulgated pursuant to chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=1-26"><span class="s2072459DefaultParagraphFont">1-26</span></a><span xml:space="preserve" class="s2072459DefaultParagraphFont"> to allow mortgage loan originators and mortgage brokers to challenge information entered into the nationwide mortgage licensing system and registry by the director.</span></p><p dir="ltr" class="s2072459Normal"><span xml:space="preserve" class="s2072459000001"> </span></p><p dir="ltr" class="s2072459Normal"><span class="s2072459SCL">Source:</span><span xml:space="preserve" class="s2072459SCL-000002"> SL 2009, ch 251, § 19.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072460Normal { 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.s2072460SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072460CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072460Normal-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.s2072460DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072460Normal-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; } p.s2072460Normal-000002 { margin-left: 1.14in; text-indent: -0.44in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } p.s2072460Normal-000003 { text-indent: 0.25in; 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.s2072460000004 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072460SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072460SCL-000005 { 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="s2072460Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-14-35"><span class="s2072460SENU">54-14-35</span></a><span xml:space="preserve" class="s2072460SENU">. </span><span class="s2072460CL">Sharing of information.</span></p><p dir="ltr" class="s2072460Normal-000000"><span class="s2072460DefaultParagraphFont">The following provisions apply to the sharing of information collected and retained by the director during the administration of this chapter:</span></p><p dir="ltr" class="s2072460Normal-000001"><span xml:space="preserve" class="s2072460DefaultParagraphFont">(1)    Except as otherwise provided in 12 U.S.C. § 5111 as of January 1, 2009, the requirements under any federal law or § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=51A-2-35"><span class="s2072460DefaultParagraphFont">51A-2-35</span></a><span xml:space="preserve" class="s2072460DefaultParagraphFont"> regarding privacy or confidentiality of any information or material provided to the nationwide mortgage licensing system and registry, and any privilege arising under federal or state law (including the rules of any federal or state court) with respect to the information or material, continue to apply to the information or material after the information or material has been disclosed to the nationwide mortgage licensing system and registry. The information and material may be shared with all state and federal regulatory officials with mortgage industry oversight authority without the loss of privilege or the loss of confidentiality protections by federal law or § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=51A-2-35"><span class="s2072460DefaultParagraphFont">51A-2-35</span></a><span class="s2072460DefaultParagraphFont">;</span></p><p dir="ltr" class="s2072460Normal-000001"><span class="s2072460DefaultParagraphFont">(2)    No information or material that is subject to a privilege or confidentiality under this section is subject to:</span></p><p dir="ltr" class="s2072460Normal-000002"><span class="s2072460DefaultParagraphFont">(a)    Disclosure under any federal or state law governing the disclosure to the public of information held by an officer or an agency of the federal government or the respective state; or</span></p><p dir="ltr" class="s2072460Normal-000002"><span class="s2072460DefaultParagraphFont">(b)    Subpoena or discovery, or admission into evidence, in any private civil action or administrative process, unless with respect to any privilege held by the nationwide mortgage licensing system and registry with respect to the information or material, the person to whom the information or material pertains waives, in whole or in part, in the discretion of the person, that privilege.</span></p><p dir="ltr" class="s2072460Normal-000003"><span class="s2072460DefaultParagraphFont">This section does not apply with respect to the information or material relating to the employment history of, and publicly adjudicated disciplinary and enforcement actions against, mortgage loan originators that is included in the nationwide mortgage licensing system and registry for access by the public.</span></p><p dir="ltr" class="s2072460Normal"><span xml:space="preserve" class="s2072460000004"> </span></p><p dir="ltr" class="s2072460Normal"><span class="s2072460SCL">Source:</span><span xml:space="preserve" class="s2072460SCL-000005"> SL 2009, ch 251, § 20.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072461Normal { 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.s2072461SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072461CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072461Normal-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.s2072461DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072461000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072461SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072461SCL-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="s2072461Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-14-36"><span class="s2072461SENU">54-14-36</span></a><span xml:space="preserve" class="s2072461SENU">. </span><span class="s2072461CL">Reports of condition--Promulgation of rules.</span></p><p dir="ltr" class="s2072461Normal-000000"><span xml:space="preserve" class="s2072461DefaultParagraphFont">Each mortgage lender, mortgage brokerage, mortgage broker, and mortgage loan originator shall submit to the nationwide mortgage licensing system and registry reports of condition, which shall be in such form and shall contain such information as the director establishes through rules promulgated pursuant to chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=1-26"><span class="s2072461DefaultParagraphFont">1-26</span></a><span class="s2072461DefaultParagraphFont">.</span></p><p dir="ltr" class="s2072461Normal"><span xml:space="preserve" class="s2072461000001"> </span></p><p dir="ltr" class="s2072461Normal"><span class="s2072461SCL">Source:</span><span xml:space="preserve" class="s2072461SCL-000002"> SL 2009, ch 251, § 21.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072462Normal { 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.s2072462SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072462CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072462Normal-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.s2072462DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072462000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072462SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072462SCL-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="s2072462Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-14-37"><span class="s2072462SENU">54-14-37</span></a><span xml:space="preserve" class="s2072462SENU">. </span><span class="s2072462CL">Reports of violations and enforcement.</span></p><p dir="ltr" class="s2072462Normal-000000"><span xml:space="preserve" class="s2072462DefaultParagraphFont">The director shall report on a regular basis violations of this chapter, as well as enforcement actions and other relevant information, to the nationwide mortgage licensing system and registry subject to the provisions contained in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-14-35"><span class="s2072462DefaultParagraphFont">54-14-35</span></a><span class="s2072462DefaultParagraphFont">.</span></p><p dir="ltr" class="s2072462Normal"><span xml:space="preserve" class="s2072462000001"> </span></p><p dir="ltr" class="s2072462Normal"><span class="s2072462SCL">Source:</span><span xml:space="preserve" class="s2072462SCL-000002"> SL 2009, ch 251, § 22.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072463Normal { 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.s2072463SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072463CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072463Normal-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.s2072463DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072463Normal-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; } p.s2072463Normal-000002 { text-indent: 0.25in; 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.s2072463000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072463SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072463SCL-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="s2072463Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-14-38"><span class="s2072463SENU">54-14-38</span></a><span xml:space="preserve" class="s2072463SENU">. </span><span class="s2072463CL">Improper influence on real estate appraisals prohibited--Grounds for discipline.</span></p><p dir="ltr" class="s2072463Normal-000000"><span class="s2072463DefaultParagraphFont">No mortgage lender, mortgage broker, or mortgage loan originator, required to be licensed or registered by this chapter, with an interest in a real estate transaction or the financing of any loan secured by real estate involving an appraisal assignment may improperly influence or attempt to improperly influence the development, reporting, result, or review of a real estate appraisal by:</span></p><p dir="ltr" class="s2072463Normal-000001"><span class="s2072463DefaultParagraphFont">(1)    Coercion, extortion, or bribery;</span></p><p dir="ltr" class="s2072463Normal-000001"><span class="s2072463DefaultParagraphFont">(2)    Withholding or threatened withholding of payment for an appraisal fee;</span></p><p dir="ltr" class="s2072463Normal-000001"><span class="s2072463DefaultParagraphFont">(3)    Conditioning of the payment of an appraisal fee upon the opinion, conclusion, or valuation to be reached;</span></p><p dir="ltr" class="s2072463Normal-000001"><span class="s2072463DefaultParagraphFont">(4)    Requesting that the appraiser report a predetermined opinion, conclusion, or valuation or the desired valuation of any person; or</span></p><p dir="ltr" class="s2072463Normal-000001"><span class="s2072463DefaultParagraphFont">(5)    Any other act or practice that impairs or attempts to impair an appraiser's independence, objectivity, and impartiality.</span></p><p dir="ltr" class="s2072463Normal-000002"><span class="s2072463DefaultParagraphFont">A violation of this section may constitute grounds for discipline against a mortgage lender, mortgage broker, or mortgage loan originator who is licensed or registered pursuant to this chapter.</span></p><p dir="ltr" class="s2072463Normal"><span xml:space="preserve" class="s2072463000003"> </span></p><p dir="ltr" class="s2072463Normal"><span class="s2072463SCL">Source:</span><span xml:space="preserve" class="s2072463SCL-000004"> SL 2009, ch 192, § 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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072464Normal { 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.s2072464SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072464CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072464Normal-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.s2072464DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072464000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072464SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072464SCL-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="s2072464Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-14-39"><span class="s2072464SENU">54-14-39</span></a><span xml:space="preserve" class="s2072464SENU">. </span><span class="s2072464CL">Conduct not constituting improper influence on real estate appraisals.</span></p><p dir="ltr" class="s2072464Normal-000000"><span xml:space="preserve" class="s2072464DefaultParagraphFont">No person violates § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-14-38"><span class="s2072464DefaultParagraphFont">54-14-38</span></a><span xml:space="preserve" class="s2072464DefaultParagraphFont"> solely by asking a real estate appraiser to consider additional, appropriate property information, or to provide further detail, substantiation, or explanation for the appraiser's value conclusion, or to correct errors in the appraisal report, or by withholding payment of an appraisal fee based on a bona fide dispute regarding the appraiser's compliance with the appraisal standards adopted by the Department of Labor and Regulation pursuant to this chapter. A person does not violate § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-14-38"><span class="s2072464DefaultParagraphFont">54-14-38</span></a><span xml:space="preserve" class="s2072464DefaultParagraphFont"> solely by retaining a real estate appraiser from panels or lists on a rotating basis, or by supplying an appraiser with information the appraiser is required to analyze under the appraisal standards adopted by the department, such as agreements of sale, options, or listings of the property to be valued.</span></p><p dir="ltr" class="s2072464Normal"><span xml:space="preserve" class="s2072464000001"> </span></p><p dir="ltr" class="s2072464Normal"><span class="s2072464SCL">Source:</span><span xml:space="preserve" class="s2072464SCL-000002"> SL 2009, ch 192, § 4; SL 2011, ch 1 (Ex. Ord. </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=11-1"><span class="s2072464SCL-000002">11-1</span></a><span class="s2072464SCL-000002">), § 162, eff. Apr. 12, 2011.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s1862b4451e7c48baa43cbb68d5d8dd50Normal { 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.s1862b4451e7c48baa43cbb68d5d8dd50SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s1862b4451e7c48baa43cbb68d5d8dd50CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s1862b4451e7c48baa43cbb68d5d8dd50Statute { text-indent: 0.50in; text-align: 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span.s1862b4451e7c48baa43cbb68d5d8dd50DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s1862b4451e7c48baa43cbb68d5d8dd50SCL { 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 - Remote work--Requirements."><meta property="og:description" content="SDLRC Codified Law - Remote work--Requirements."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes?Statute="><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="s1862b4451e7c48baa43cbb68d5d8dd50Normal"><a href="https://sdlegislature.gov/Statutes?Statute=54-14-40" rel="noopener"><span class="s1862b4451e7c48baa43cbb68d5d8dd50SENU">54-14-40</span></a><span xml:space="preserve" class="s1862b4451e7c48baa43cbb68d5d8dd50SENU">. </span><span class="s1862b4451e7c48baa43cbb68d5d8dd50CL">Remote work--Requirements.</span></p><p dir="ltr" class="s1862b4451e7c48baa43cbb68d5d8dd50Statute"><span xml:space="preserve" class="s1862b4451e7c48baa43cbb68d5d8dd50DefaultParagraphFont">An employee of a licensee may work in a remote location other than the business location identified pursuant to § </span><a href="https://sdlegislature.gov/Statutes?Statute=54-14-14" rel="noopener"><span class="s1862b4451e7c48baa43cbb68d5d8dd50DefaultParagraphFont">54-14-14</span></a><span class="s1862b4451e7c48baa43cbb68d5d8dd50DefaultParagraphFont">, if the licensee:</span></p><p dir="ltr" class="s1862b4451e7c48baa43cbb68d5d8dd50StatuteNumber1"><span class="s1862b4451e7c48baa43cbb68d5d8dd50DefaultParagraphFont">(1)    Ensures in-person interactions with consumers are not conducted at the remote location and the remote location is not represented to consumers as a business location;</span></p><p dir="ltr" class="s1862b4451e7c48baa43cbb68d5d8dd50StatuteNumber1"><span class="s1862b4451e7c48baa43cbb68d5d8dd50DefaultParagraphFont">(2)    Maintains secure virtual private networks and other appropriate safeguards for licensee and consumer data, information, and records;</span></p><p dir="ltr" class="s1862b4451e7c48baa43cbb68d5d8dd50StatuteNumber1"><span class="s1862b4451e7c48baa43cbb68d5d8dd50DefaultParagraphFont">(3)    Employs appropriate risk-based monitoring and oversight processes of work performed from a remote location and maintains records of the processes;</span></p><p dir="ltr" class="s1862b4451e7c48baa43cbb68d5d8dd50StatuteNumber1"><span class="s1862b4451e7c48baa43cbb68d5d8dd50DefaultParagraphFont">(4)    Ensures consumer information and records are not maintained at the remote location;</span></p><p dir="ltr" class="s1862b4451e7c48baa43cbb68d5d8dd50StatuteNumber1"><span class="s1862b4451e7c48baa43cbb68d5d8dd50DefaultParagraphFont">(5)    Ensures consumer and licensee information and records remain accessible and available for regulatory oversight and examination; and</span></p><p dir="ltr" class="s1862b4451e7c48baa43cbb68d5d8dd50StatuteNumber1"><span class="s1862b4451e7c48baa43cbb68d5d8dd50DefaultParagraphFont">(6)    Provides appropriate employee training to keep all conversations about and with consumers conducted from the remote location confidential, as if conducted from the business location, and to ensure remote employees work in an environment that maintains confidentiality.</span></p><p dir="ltr" class="s1862b4451e7c48baa43cbb68d5d8dd50Normal"><span xml:space="preserve" class="s1862b4451e7c48baa43cbb68d5d8dd50000000"> </span></p><p dir="ltr" class="s1862b4451e7c48baa43cbb68d5d8dd50NoIndent"><span xml:space="preserve" class="s1862b4451e7c48baa43cbb68d5d8dd50DefaultParagraphFont-000001">Source: </span><span class="s1862b4451e7c48baa43cbb68d5d8dd50SCL">SL 2022, ch 179, § 2.</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 - DEBTOR AND CREDITOR 54-15 SECURITY FREEZE ON CREDIT REPORT </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 54-15 SECURITY FREEZE ON CREDIT REPORT "> <META NAME="Description" Content="South Dakota Codified Laws 54-15"> </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: HG4 --><Div align="center"><!-- WP Style End: HG4 --> CHAPTER 54-15 <!-- WP Paired Style Off: HG4 --><!-- WP Style End: HG4 --> </Div> <br> <!-- WP Paired Style On: HG4C --><Div align="center"><!-- WP Style End: HG4C --> SECURITY FREEZE ON CREDIT REPORT <!-- WP Paired Style Off: HG4C --><!-- WP Style End: HG4C --> </Div> <br> <p> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-15-1">54-15-1</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Repealed. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-15-2">54-15-2</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Security freeze defined. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-15-3">54-15-3</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Request to consumer reporting agency for security freeze. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-15-4">54-15-4</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Time for placing security freeze. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-15-5">54-15-5</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Written confirmation of security freeze. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-15-6">54-15-6</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Request for temporary lifting of security freeze. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-15-7">54-15-7</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Expedited procedures for temporary lifting of security freeze. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-15-8">54-15-8</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Conditions for removing or temporarily lifting security freeze. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-15-9">54-15-9</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Treatment of credit or other application as incomplete for denial of limited access to credit information. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-15-10">54-15-10</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Disclosure of process for placing and temporarily lifting security freeze or allowing limited access to information. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-15-11">54-15-11</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Removal of security freeze--Request for removal. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-15-12">54-15-12</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Use of credit report by certain persons and entities not subject to chapter. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-15-13">54-15-13</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Written confirmation of changes to report while security freeze in place. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-15-14">54-15-14</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Resellers of credit information not required to place security freeze. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-15-15">54-15-15</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Certain entities not required to place security freeze <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <!-- WP Paired Style On: B --><!-- WP Style End: B --> .<br> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-15-16">54-15-16</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Furnishing of information to governmental agency when security freeze in place.<br> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-15-17">54-15-17</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Fee for placement or removal of security freeze prohibited. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <p> </BODY> </HTML> <br /><hr><br /> <HTML> <HEAD> <HTML> <HEAD> <meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 54 - DEBTOR AND CREDITOR 54-15-1 </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 54-15-1 "> <META NAME="Description" Content="South Dakota Codified Laws 54-15-1"> </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 --> 54-15-1. <!-- WP Paired Style Off: SENU -->&nbsp;<!-- WP Style End: SENU --> Repealed by SL 2018, ch 273, &#167;&nbsp;3.<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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072467Normal { 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.s2072467SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072467CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072467Normal-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.s2072467DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072467000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072467SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072467SCL-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="s2072467Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-15-2"><span class="s2072467SENU">54-15-2</span></a><span xml:space="preserve" class="s2072467SENU">. </span><span class="s2072467CL">Security freeze defined.</span></p><p dir="ltr" class="s2072467Normal-000000"><span class="s2072467DefaultParagraphFont">For the purposes of this chapter, a security freeze is a notice placed in a consumer's credit report, at the request of the consumer and subject to certain exceptions, that prohibits the consumer reporting agency from releasing the consumer's credit report, relating to the extension of credit involving that consumer's report, without the express authorization of the consumer. If a security freeze is in place, information from a consumer's credit report may not be released to a third party without prior express authorization from the consumer.</span></p><p dir="ltr" class="s2072467Normal"><span xml:space="preserve" class="s2072467000001"> </span></p><p dir="ltr" class="s2072467Normal"><span class="s2072467SCL">Source:</span><span xml:space="preserve" class="s2072467SCL-000002"> SL 2006, ch 246, § 2.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072468Normal { 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.s2072468SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072468CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072468Normal-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.s2072468DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072468000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072468SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072468SCL-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="s2072468Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-15-3"><span class="s2072468SENU">54-15-3</span></a><span xml:space="preserve" class="s2072468SENU">. </span><span class="s2072468CL">Request to consumer reporting agency for security freeze.</span></p><p dir="ltr" class="s2072468Normal-000000"><span class="s2072468DefaultParagraphFont">A person may place a security freeze on that person's credit report by making a request to a consumer reporting agency in a manner designated by the consumer reporting agency to receive a request for a security freeze. This section does not prevent a consumer reporting agency from advising a third party that a security freeze is in effect with respect to the consumer's credit report.</span></p><p dir="ltr" class="s2072468Normal"><span xml:space="preserve" class="s2072468000001"> </span></p><p dir="ltr" class="s2072468Normal"><span class="s2072468SCL">Source:</span><span xml:space="preserve" class="s2072468SCL-000002"> SL 2006, ch 246, § 3; SL 2018, ch 273, § 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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072469Normal { 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.s2072469SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072469CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072469Normal-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.s2072469DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072469000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072469SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072469SCL-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="s2072469Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-15-4"><span class="s2072469SENU">54-15-4</span></a><span xml:space="preserve" class="s2072469SENU">. </span><span class="s2072469CL">Time for placing security freeze.</span></p><p dir="ltr" class="s2072469Normal-000000"><span class="s2072469DefaultParagraphFont">A consumer reporting agency shall place a security freeze on a consumer's credit report no later than five business days after receiving a written request from the consumer.</span></p><p dir="ltr" class="s2072469Normal"><span xml:space="preserve" class="s2072469000001"> </span></p><p dir="ltr" class="s2072469Normal"><span class="s2072469SCL">Source:</span><span xml:space="preserve" class="s2072469SCL-000002"> SL 2006, ch 246, § 4.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072470Normal { 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.s2072470SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072470CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072470Normal-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.s2072470DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072470000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072470SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072470SCL-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="s2072470Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-15-5"><span class="s2072470SENU">54-15-5</span></a><span xml:space="preserve" class="s2072470SENU">. </span><span class="s2072470CL">Written confirmation of security freeze.</span></p><p dir="ltr" class="s2072470Normal-000000"><span class="s2072470DefaultParagraphFont">The consumer reporting agency shall send a written confirmation of the security freeze to the consumer within ten business days and shall provide the consumer with a unique personal identification number or password to be used by the consumer when providing authorization for the release of the consumer's credit report for a specific period of time.</span></p><p dir="ltr" class="s2072470Normal"><span xml:space="preserve" class="s2072470000001"> </span></p><p dir="ltr" class="s2072470Normal"><span class="s2072470SCL">Source:</span><span xml:space="preserve" class="s2072470SCL-000002"> SL 2006, ch 246, § 5.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072471Normal { 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.s2072471SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072471CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072471Normal-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.s2072471DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072471Normal-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; } p.s2072471Normal-000002 { text-indent: 0.25in; 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.s2072471000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072471SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072471SCL-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="s2072471Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-15-6"><span class="s2072471SENU">54-15-6</span></a><span xml:space="preserve" class="s2072471SENU">. </span><span class="s2072471CL">Request for temporary lifting of security freeze.</span></p><p dir="ltr" class="s2072471Normal-000000"><span class="s2072471DefaultParagraphFont">If any consumer wishes to allow the consumer's credit report to be accessed for a specific period of time while a freeze is in place, the consumer shall contact the consumer reporting agency at a point of contact designated by the agency to receive such requests, request that the freeze be temporarily lifted, and provide the following:</span></p><p dir="ltr" class="s2072471Normal-000001"><span class="s2072471DefaultParagraphFont">(1)    Proper identification, which means that information generally deemed sufficient to identify a consumer. Only if the consumer is unable to sufficiently identify himself or herself, may a consumer reporting agency require additional information concerning the consumer's employment and personal or family history in order to verify the consumer's identity;</span></p><p dir="ltr" class="s2072471Normal-000001"><span xml:space="preserve" class="s2072471DefaultParagraphFont">(2)    The unique personal identification number or password provided by the credit reporting agency pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-15-5"><span class="s2072471DefaultParagraphFont">54-15-5</span></a><span class="s2072471DefaultParagraphFont">; and</span></p><p dir="ltr" class="s2072471Normal-000001"><span class="s2072471DefaultParagraphFont">(3)    The proper information regarding the time period for which the report is available to users of the credit report.</span></p><p dir="ltr" class="s2072471Normal-000002"><span class="s2072471DefaultParagraphFont">Any consumer reporting agency that receives a request to temporarily lift a freeze on a credit report pursuant to this section shall comply with the request no later than three business days after receiving the request.</span></p><p dir="ltr" class="s2072471Normal"><span xml:space="preserve" class="s2072471000003"> </span></p><p dir="ltr" class="s2072471Normal"><span class="s2072471SCL">Source:</span><span xml:space="preserve" class="s2072471SCL-000004"> SL 2006, ch 246, § 6.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072472Normal { 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.s2072472SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072472CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072472Normal-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.s2072472DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072472000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072472SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072472SCL-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="s2072472Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-15-7"><span class="s2072472SENU">54-15-7</span></a><span xml:space="preserve" class="s2072472SENU">. </span><span class="s2072472CL">Expedited procedures for temporary lifting of security freeze.</span></p><p dir="ltr" class="s2072472Normal-000000"><span class="s2072472DefaultParagraphFont">A consumer reporting agency may develop procedures involving the use of telephone, fax, the internet, or other electronic media to receive and process a request from a consumer to temporarily lift a freeze on that consumer's credit report in an expedited manner.</span></p><p dir="ltr" class="s2072472Normal"><span xml:space="preserve" class="s2072472000001"> </span></p><p dir="ltr" class="s2072472Normal"><span class="s2072472SCL">Source:</span><span xml:space="preserve" class="s2072472SCL-000002"> SL 2006, ch 246, § 7.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072473Normal { 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.s2072473SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072473CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072473Normal-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.s2072473DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072473Normal-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.s2072473000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072473SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072473SCL-000003 { 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="s2072473Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-15-8"><span class="s2072473SENU">54-15-8</span></a><span xml:space="preserve" class="s2072473SENU">. </span><span class="s2072473CL">Conditions for removing or temporarily lifting security freeze.</span></p><p dir="ltr" class="s2072473Normal-000000"><span class="s2072473DefaultParagraphFont">A consumer reporting agency shall remove or temporarily lift a freeze placed on a consumer's credit report only in the following cases:</span></p><p dir="ltr" class="s2072473Normal-000001"><span xml:space="preserve" class="s2072473DefaultParagraphFont">(1)    Upon a consumer's request pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-15-6"><span class="s2072473DefaultParagraphFont">54-15-6</span></a><span xml:space="preserve" class="s2072473DefaultParagraphFont"> or </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-15-11"><span class="s2072473DefaultParagraphFont">54-15-11</span></a><span class="s2072473DefaultParagraphFont">; or</span></p><p dir="ltr" class="s2072473Normal-000001"><span class="s2072473DefaultParagraphFont">(2)    When the consumer's credit report was frozen due to a material misrepresentation of fact by the consumer. When a consumer reporting agency intends to remove a freeze upon a consumer's credit report under this subdivision, the consumer reporting agency shall notify the consumer in writing prior to removing the freeze on the consumer's credit report.</span></p><p dir="ltr" class="s2072473Normal"><span xml:space="preserve" class="s2072473000002"> </span></p><p dir="ltr" class="s2072473Normal"><span class="s2072473SCL">Source:</span><span xml:space="preserve" class="s2072473SCL-000003"> SL 2006, ch 246, § 8.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072474Normal { 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.s2072474SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072474CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072474Normal-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.s2072474DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072474000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072474SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072474SCL-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="s2072474Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-15-9"><span class="s2072474SENU">54-15-9</span></a><span xml:space="preserve" class="s2072474SENU">. </span><span class="s2072474CL">Treatment of credit or other application as incomplete for denial of limited access to credit information.</span></p><p dir="ltr" class="s2072474Normal-000000"><span class="s2072474DefaultParagraphFont">If a third party requests access to a consumer credit report on which a security freeze is in effect, and this request is in connection with an application for credit or any other use, and the consumer does not allow the consumer's credit report to be accessed for that specific party or period of time, the third party may treat the application as incomplete.</span></p><p dir="ltr" class="s2072474Normal"><span xml:space="preserve" class="s2072474000001"> </span></p><p dir="ltr" class="s2072474Normal"><span class="s2072474SCL">Source:</span><span xml:space="preserve" class="s2072474SCL-000002"> SL 2006, ch 246, § 9.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072475Normal { 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.s2072475SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072475CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072475Normal-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.s2072475DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072475000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072475SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072475SCL-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="s2072475Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-15-10"><span class="s2072475SENU">54-15-10</span></a><span xml:space="preserve" class="s2072475SENU">. </span><span class="s2072475CL">Disclosure of process for placing and temporarily lifting security freeze or allowing limited access to information.</span></p><p dir="ltr" class="s2072475Normal-000000"><span class="s2072475DefaultParagraphFont">If a consumer requests a security freeze, the consumer reporting agency shall disclose the process of placing and temporarily lifting a freeze, and the process for allowing access to information from the consumer's credit report for a specific party or period of time while the freeze is in place.</span></p><p dir="ltr" class="s2072475Normal"><span xml:space="preserve" class="s2072475000001"> </span></p><p dir="ltr" class="s2072475Normal"><span class="s2072475SCL">Source:</span><span xml:space="preserve" class="s2072475SCL-000002"> SL 2006, ch 246, § 10.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072476Normal { 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.s2072476SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072476CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072476Normal-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.s2072476DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072476Normal-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; } p.s2072476Normal-000002 { text-indent: 0.25in; 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.s2072476000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072476SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072476SCL-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="s2072476Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-15-11"><span class="s2072476SENU">54-15-11</span></a><span xml:space="preserve" class="s2072476SENU">. </span><span class="s2072476CL">Removal of security freeze--Request for removal.</span></p><p dir="ltr" class="s2072476Normal-000000"><span xml:space="preserve" class="s2072476DefaultParagraphFont">A security freeze under § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-15-4"><span class="s2072476DefaultParagraphFont">54-15-4</span></a><span xml:space="preserve" class="s2072476DefaultParagraphFont"> shall remain in place until the consumer reporting agency receives a request from the consumer to remove the freeze. A consumer reporting agency shall remove a security freeze within three business days of receiving a request for removal from the consumer. If making a request under this section, a consumer shall provide to the consumer reporting agency:</span></p><p dir="ltr" class="s2072476Normal-000001"><span class="s2072476DefaultParagraphFont">(1)    Proper identification, as defined in subdivision 54-15-6(1); and</span></p><p dir="ltr" class="s2072476Normal-000001"><span xml:space="preserve" class="s2072476DefaultParagraphFont">(2)    The unique personal identification number or password provided by the consumer reporting agency pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-15-5"><span class="s2072476DefaultParagraphFont">54-15-5</span></a><span class="s2072476DefaultParagraphFont">.</span></p><p dir="ltr" class="s2072476Normal-000002"><span class="s2072476DefaultParagraphFont">Any request for removal under this section shall be made to a point of contact designated by the consumer reporting agency to receive the request.</span></p><p dir="ltr" class="s2072476Normal"><span xml:space="preserve" class="s2072476000003"> </span></p><p dir="ltr" class="s2072476Normal"><span class="s2072476SCL">Source:</span><span xml:space="preserve" class="s2072476SCL-000004"> SL 2006, ch 246, § 11; SL 2018, ch 274, § 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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072477Normal { 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.s2072477SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072477CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072477Normal-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.s2072477DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072477Normal-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.s2072477000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072477SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072477SCL-000003 { 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="s2072477Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-15-12"><span class="s2072477SENU">54-15-12</span></a><span xml:space="preserve" class="s2072477SENU">. </span><span class="s2072477CL">Use of credit report by certain persons and entities not subject to chapter.</span></p><p dir="ltr" class="s2072477Normal-000000"><span class="s2072477DefaultParagraphFont">This chapter does not apply to the use of a consumer credit report by any of the following:</span></p><p dir="ltr" class="s2072477Normal-000001"><span class="s2072477DefaultParagraphFont">(1)    A person, or a subsidiary, affiliate, or agent of that person, or an assignee of a financial obligation owed by the consumer to that person or entity, or a prospective assignee of a financial obligation owed by the consumer to that person in conjunction with the proposed purchase of the financial obligation, with which the consumer has or had prior to assignment an account or contract, including a demand deposit account, or to whom the consumer issued a negotiable instrument for the purposes of reviewing the account or collecting the financial obligation owed for the account, contract, or negotiable instrument. The term, reviewing the account, includes activities related to account maintenance, monitoring, credit line increases, and account upgrades and enhancements;</span></p><p dir="ltr" class="s2072477Normal-000001"><span xml:space="preserve" class="s2072477DefaultParagraphFont">(2)    A subsidiary, affiliate, agent, assignee, or prospective assignee of a person to whom access has been granted under § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-15-6"><span class="s2072477DefaultParagraphFont">54-15-6</span></a><span xml:space="preserve" class="s2072477DefaultParagraphFont"> for purposes of facilitating the extension of credit or other permissible use;</span></p><p dir="ltr" class="s2072477Normal-000001"><span class="s2072477DefaultParagraphFont">(3)    Any federal, state, or local entity, including a law enforcement agency or court;</span></p><p dir="ltr" class="s2072477Normal-000001"><span class="s2072477DefaultParagraphFont">(4)    A private collection agency acting under a court order, warrant, or subpoena;</span></p><p dir="ltr" class="s2072477Normal-000001"><span class="s2072477DefaultParagraphFont">(5)    A child support agency acting under Title IV-D of the Social Security Act (42 U.S.C. et seq.);</span></p><p dir="ltr" class="s2072477Normal-000001"><span class="s2072477DefaultParagraphFont">(6)    The Department of Social Services acting to fulfill any of its statutory responsibilities;</span></p><p dir="ltr" class="s2072477Normal-000001"><span class="s2072477DefaultParagraphFont">(7)    The Internal Revenue Service acting to investigate or collect delinquent taxes or unpaid court orders or to fulfill any of its other statutory responsibilities;</span></p><p dir="ltr" class="s2072477Normal-000001"><span class="s2072477DefaultParagraphFont">(8)    The use of credit information for the purposes of prescreening as provided for by the federal Fair Credit Reporting Act;</span></p><p dir="ltr" class="s2072477Normal-000001"><span class="s2072477DefaultParagraphFont">(9)    Any person or entity administering a credit file monitoring subscription service to which the consumer has subscribed;</span></p><p dir="ltr" class="s2072477Normal-000001"><span class="s2072477DefaultParagraphFont">(10)    Any person or entity for the purpose of providing a consumer with a copy of the consumer's credit report upon the consumer's request; and</span></p><p dir="ltr" class="s2072477Normal-000001"><span class="s2072477DefaultParagraphFont">(11)    Any person or entity for use in setting or adjusting a rate, adjusting a claim, or underwriting for insurance purposes.</span></p><p dir="ltr" class="s2072477Normal"><span xml:space="preserve" class="s2072477000002"> </span></p><p dir="ltr" class="s2072477Normal"><span class="s2072477SCL">Source:</span><span xml:space="preserve" class="s2072477SCL-000003"> SL 2006, ch 246, § 12.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072478Normal { 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.s2072478SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072478CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072478Normal-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.s2072478DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072478000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072478SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072478SCL-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="s2072478Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-15-13"><span class="s2072478SENU">54-15-13</span></a><span xml:space="preserve" class="s2072478SENU">. </span><span class="s2072478CL">Written confirmation of changes to report while security freeze in place.</span></p><p dir="ltr" class="s2072478Normal-000000"><span class="s2072478DefaultParagraphFont">If a security freeze is in place, a consumer reporting agency may not change any name, date of birth, social security number, or address in a consumer credit report without sending a written confirmation of the change to the consumer within thirty days of the change being posted to the consumer's file. Written confirmation is not required for technical modifications of a consumer's official information, including name and street abbreviations, complete spellings, or transposition of numbers or letters. In the case of an address change, the written confirmation shall be sent to both the new address and to the former address.</span></p><p dir="ltr" class="s2072478Normal"><span xml:space="preserve" class="s2072478000001"> </span></p><p dir="ltr" class="s2072478Normal"><span class="s2072478SCL">Source:</span><span xml:space="preserve" class="s2072478SCL-000002"> SL 2006, ch 246, § 13.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072479Normal { 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.s2072479SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072479CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072479Normal-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.s2072479DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072479000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072479SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072479SCL-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="s2072479Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-15-14"><span class="s2072479SENU">54-15-14</span></a><span xml:space="preserve" class="s2072479SENU">. </span><span class="s2072479CL">Resellers of credit information not required to place security freeze.</span></p><p dir="ltr" class="s2072479Normal-000000"><span class="s2072479DefaultParagraphFont">No consumer reporting agency is required to place a security freeze in a consumer credit report if the consumer reporting agency acts only as a reseller of credit information by assembling and merging information contained in the data base of another consumer reporting agency or multiple consumer reporting agencies, and does not maintain a permanent data base of credit information from which new consumer credit reports are produced. However, a consumer reporting agency shall honor any security freeze placed on a consumer credit report by another consumer reporting agency.</span></p><p dir="ltr" class="s2072479Normal"><span xml:space="preserve" class="s2072479000001"> </span></p><p dir="ltr" class="s2072479Normal"><span class="s2072479SCL">Source:</span><span xml:space="preserve" class="s2072479SCL-000002"> SL 2006, ch 246, § 14.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072480Normal { 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.s2072480SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072480CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072480Normal-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.s2072480DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072480Normal-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.s2072480000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072480SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072480SCL-000003 { 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="s2072480Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-15-15"><span class="s2072480SENU">54-15-15</span></a><span xml:space="preserve" class="s2072480SENU">. </span><span class="s2072480CL">Certain entities not required to place security freeze.</span></p><p dir="ltr" class="s2072480Normal-000000"><span class="s2072480DefaultParagraphFont">The following entities are not required to place a security freeze in a consumer credit report pursuant to this chapter:</span></p><p dir="ltr" class="s2072480Normal-000001"><span class="s2072480DefaultParagraphFont">(1)    A check services or fraud prevention services company, which issues reports on incidents of fraud or authorizations for the purpose of approving or processing negotiable instruments, electronic funds transfers, or similar methods of payments; and</span></p><p dir="ltr" class="s2072480Normal-000001"><span class="s2072480DefaultParagraphFont">(2)    A deposit account information service company, which issues reports regarding account closures due to fraud, substantial overdrafts, ATM abuse, or similar negative information regarding a consumer, to inquiring banks or other financial institutions for use only in reviewing a consumer request for a deposit account at the inquiring bank or financial institution.</span></p><p dir="ltr" class="s2072480Normal"><span xml:space="preserve" class="s2072480000002"> </span></p><p dir="ltr" class="s2072480Normal"><span class="s2072480SCL">Source:</span><span xml:space="preserve" class="s2072480SCL-000003"> SL 2006, ch 246, § 15.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072481Normal { 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.s2072481SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072481CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072481Normal-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.s2072481DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072481000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072481SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072481SCL-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="s2072481Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-15-16"><span class="s2072481SENU">54-15-16</span></a><span xml:space="preserve" class="s2072481SENU">. </span><span class="s2072481CL">Furnishing of information to governmental agency when security freeze in place.</span></p><p dir="ltr" class="s2072481Normal-000000"><span class="s2072481DefaultParagraphFont">A consumer reporting agency may furnish to a governmental agency a consumer's name, address, former address, places of employment, or former places of employment even if a security freeze is in place.</span></p><p dir="ltr" class="s2072481Normal"><span xml:space="preserve" class="s2072481000001"> </span></p><p dir="ltr" class="s2072481Normal"><span class="s2072481SCL">Source:</span><span xml:space="preserve" class="s2072481SCL-000002"> SL 2006, ch 246, § 16.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072482Normal { 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.s2072482SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072482CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072482Normal-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.s2072482DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072482000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072482SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072482SCL-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="s2072482Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-15-17"><span class="s2072482SENU">54-15-17</span></a><span xml:space="preserve" class="s2072482SENU">. </span><span class="s2072482CL">Fee for placement or removal of security freeze prohibited.</span></p><p dir="ltr" class="s2072482Normal-000000"><span class="s2072482DefaultParagraphFont">A consumer reporting agency is prohibited from charging a fee for a placement or removal of a security freeze under this chapter.</span></p><p dir="ltr" class="s2072482Normal"><span xml:space="preserve" class="s2072482000001"> </span></p><p dir="ltr" class="s2072482Normal"><span class="s2072482SCL">Source:</span><span xml:space="preserve" class="s2072482SCL-000002"> SL 2018, ch 273, § 2.</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 - DEBTOR AND CREDITOR 54-16 CREDIT REPORTING SECURITY FREEZE FOR PROTECTED CONSUMERS </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 54-16 CREDIT REPORTING SECURITY FREEZE FOR PROTECTED CONSUMERS "> <META NAME="Description" Content="South Dakota Codified Laws 54-16"> </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: HG4 --><Div align="center"><!-- WP Style End: HG4 --> CHAPTER 54-16 <!-- WP Paired Style Off: HG4 --><!-- WP Style End: HG4 --> </Div> <br> <!-- WP Paired Style On: HG4C --><Div align="center"><!-- WP Style End: HG4C --> CREDIT REPORTING SECURITY FREEZE FOR PROTECTED CONSUMERS <!-- WP Paired Style Off: HG4C --><!-- WP Style End: HG4C --> </Div> <br> <p> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-16-1">54-16-1</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Definitions. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-16-2">54-16-2</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Security freeze for protected consumer upon request to consumer reporting agency by protected consumer's representative. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-16-3">54-16-3</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Application of chapter. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-16-4">54-16-4</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Time for placing security freeze. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-16-5">54-16-5</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Release of report or information prohibited. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-16-6">54-16-6</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Duration of security freeze. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-16-7">54-16-7</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Request for removal of security freeze. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-16-8">54-16-8</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Time for removal of security freeze upon request. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-16-9">54-16-9</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Fees of consumer reporting agency. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-16-10">54-16-10</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Removal of security freeze based on material misrepresentation. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072484Normal { 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.s2072484SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072484CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072484Normal-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.s2072484DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072484Normal-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.s2072484000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072484SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072484SCL-000003 { 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="s2072484Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-16-1"><span class="s2072484SENU">54-16-1</span></a><span xml:space="preserve" class="s2072484SENU">. </span><span class="s2072484CL">Definitions.</span></p><p dir="ltr" class="s2072484Normal-000000"><span class="s2072484DefaultParagraphFont">Terms used in this chapter mean:</span></p><p dir="ltr" class="s2072484Normal-000001"><span class="s2072484DefaultParagraphFont">(1)    "Protected consumer," a person who is under the age of sixteen years at the time a request for the placement of a security freeze is made or an incapacitated person or a protected person for whom a guardian or conservator has been appointed;</span></p><p dir="ltr" class="s2072484Normal-000001"><span class="s2072484DefaultParagraphFont">(2)    "Record," a compilation of information that is created by a consumer reporting agency solely for the purpose of complying with this section, identifies a protected consumer, and may not be used to consider the protected consumer's credit worthiness, credit standing, credit capacity, character, general reputation, personal characteristics, or mode of living;</span></p><p dir="ltr" class="s2072484Normal-000001"><span class="s2072484DefaultParagraphFont">(3)    "Representative," a person who provides to a consumer reporting agency sufficient proof of authority to act on behalf of a protected consumer;</span></p><p dir="ltr" class="s2072484Normal-000001"><span class="s2072484DefaultParagraphFont">(4)    "Security freeze," a notice placed on a consumer's credit report that prohibits a consumer reporting agency from releasing the consumer's credit report relating to the extension of credit involving that consumer's report, without the express authorization of the protected person's representative;</span></p><p dir="ltr" class="s2072484Normal-000001"><span class="s2072484DefaultParagraphFont">(5)    "Sufficient proof of authority," documentation that shows a representative has authority to act on behalf of a protected consumer and includes an order issued by a court of law, a lawfully executed and valid power of attorney, or a notarized statement signed by a representative that expressly describes the authority of the representative to act on behalf of a protected consumer;</span></p><p dir="ltr" class="s2072484Normal-000001"><span class="s2072484DefaultParagraphFont">(6)    "Sufficient proof of identification," information or documentation that identifies a protected consumer or a representative of a protected consumer and includes a social security number or a copy of a social security card issued by the social security administration, a certified or official copy of a birth certificate, or a copy of a driver license, an identification card issued by the motor vehicle administration, or any other government issued identification.</span></p><p dir="ltr" class="s2072484Normal"><span xml:space="preserve" class="s2072484000002"> </span></p><p dir="ltr" class="s2072484Normal"><span class="s2072484SCL">Source:</span><span xml:space="preserve" class="s2072484SCL-000003"> SL 2016, ch 230, § 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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072485Normal { 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.s2072485SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072485CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072485Normal-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.s2072485DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072485Normal-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; } p.s2072485Normal-000002 { text-indent: 0.25in; 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.s2072485000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072485SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072485SCL-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="s2072485Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-16-2"><span class="s2072485SENU">54-16-2</span></a><span xml:space="preserve" class="s2072485SENU">. </span><span class="s2072485CL">Security freeze for protected consumer upon request to consumer reporting agency by protected consumer's representative.</span></p><p dir="ltr" class="s2072485Normal-000000"><span class="s2072485DefaultParagraphFont">A consumer reporting agency shall place a security freeze for a protected consumer if the agency receives a request from the protected consumer's representative for the placement of the security freeze under this section and the protected consumer's representative:</span></p><p dir="ltr" class="s2072485Normal-000001"><span class="s2072485DefaultParagraphFont">(1)    Submits the request to the agency in the manner specified by the agency;</span></p><p dir="ltr" class="s2072485Normal-000001"><span class="s2072485DefaultParagraphFont">(2)    Provides to the agency sufficient proof of identification of the protected consumer and the representative;</span></p><p dir="ltr" class="s2072485Normal-000001"><span class="s2072485DefaultParagraphFont">(3)    Provides to the agency sufficient proof of authority to act on behalf of the protected consumer; and</span></p><p dir="ltr" class="s2072485Normal-000001"><span xml:space="preserve" class="s2072485DefaultParagraphFont">(4)    Pays to the agency a fee as provided in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-16-9"><span class="s2072485DefaultParagraphFont">54-16-9</span></a><span class="s2072485DefaultParagraphFont">.</span></p><p dir="ltr" class="s2072485Normal-000002"><span class="s2072485DefaultParagraphFont">If a consumer reporting agency does not have a file pertaining to a protected consumer when the consumer reporting agency receives a request under this section, the consumer reporting agency shall create a record for the protected consumer.</span></p><p dir="ltr" class="s2072485Normal"><span xml:space="preserve" class="s2072485000003"> </span></p><p dir="ltr" class="s2072485Normal"><span class="s2072485SCL">Source:</span><span xml:space="preserve" class="s2072485SCL-000004"> SL 2016, ch 230, § 2.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072486Normal { 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.s2072486SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072486CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072486Normal-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.s2072486DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072486Normal-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.s2072486000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072486SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072486SCL-000003 { 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="s2072486Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-16-3"><span class="s2072486SENU">54-16-3</span></a><span xml:space="preserve" class="s2072486SENU">. </span><span class="s2072486CL">Application of chapter.</span></p><p dir="ltr" class="s2072486Normal-000000"><span class="s2072486DefaultParagraphFont">This chapter does not apply to the use of a protected consumer's credit report or record by:</span></p><p dir="ltr" class="s2072486Normal-000001"><span class="s2072486DefaultParagraphFont">(1)    A person administering a credit file monitoring subscription service to which the protected consumer has subscribed or the representative of the protected consumer has subscribed on behalf of the protected consumer;</span></p><p dir="ltr" class="s2072486Normal-000001"><span class="s2072486DefaultParagraphFont">(2)    A person providing the protected consumer or the protected consumer's representative with a copy of the protected consumer's credit report on request of the protected consumer or the protected consumer's representative; or</span></p><p dir="ltr" class="s2072486Normal-000001"><span class="s2072486DefaultParagraphFont">(3)    A check services or fraud prevention services company that issues reports on incidents of fraud or authorizations for the purpose of approving or processing negotiable instruments, electronic funds transfers, or similar payment methods;</span></p><p dir="ltr" class="s2072486Normal-000001"><span class="s2072486DefaultParagraphFont">(4)    A deposit account information service company that issues reports regarding account closures due to fraud, substantial overdrafts, automated teller machine abuse, or similar negative information regarding a consumer to inquiring financial institutions for use only in reviewing a consumer request for a deposit account at the inquiring financial institution;</span></p><p dir="ltr" class="s2072486Normal-000001"><span class="s2072486DefaultParagraphFont">(5)    An insurance company for the purpose of conducting its ordinary business;</span></p><p dir="ltr" class="s2072486Normal-000001"><span class="s2072486DefaultParagraphFont">(6)    A consumer reporting agency that acts only to resell credit information by assembling and merging information contained in a database of one or more consumer reporting agencies and does not maintain a permanent database of credit information from which new credit reports are produced; and</span></p><p dir="ltr" class="s2072486Normal-000001"><span class="s2072486DefaultParagraphFont">(7)    A consumer reporting agency's database that consists of information used for criminal record information, fraud prevention or detection, personal loss history information, or employment, tenant, or individual background screening, but not for credit granting services.</span></p><p dir="ltr" class="s2072486Normal"><span xml:space="preserve" class="s2072486000002"> </span></p><p dir="ltr" class="s2072486Normal"><span class="s2072486SCL">Source:</span><span xml:space="preserve" class="s2072486SCL-000003"> SL 2016, ch 230, § 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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072487Normal { 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.s2072487SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072487CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072487Normal-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.s2072487DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072487000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072487SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072487SCL-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="s2072487Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-16-4"><span class="s2072487SENU">54-16-4</span></a><span xml:space="preserve" class="s2072487SENU">. </span><span class="s2072487CL">Time for placing security freeze.</span></p><p dir="ltr" class="s2072487Normal-000000"><span class="s2072487DefaultParagraphFont">Within thirty days after receiving a request that meets the requirements of this chapter, a consumer reporting agency shall place a security freeze for the protected consumer.</span></p><p dir="ltr" class="s2072487Normal"><span xml:space="preserve" class="s2072487000001"> </span></p><p dir="ltr" class="s2072487Normal"><span class="s2072487SCL">Source:</span><span xml:space="preserve" class="s2072487SCL-000002"> SL 2016, ch 230, § 4.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072488Normal { 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.s2072488SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072488CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072488Normal-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.s2072488DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072488000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072488SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072488SCL-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="s2072488Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-16-5"><span class="s2072488SENU">54-16-5</span></a><span xml:space="preserve" class="s2072488SENU">. </span><span class="s2072488CL">Release of report or information prohibited.</span></p><p dir="ltr" class="s2072488Normal-000000"><span xml:space="preserve" class="s2072488DefaultParagraphFont">Unless a security freeze for a protected consumer is removed in accordance with § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-16-7"><span class="s2072488DefaultParagraphFont">54-16-7</span></a><span xml:space="preserve" class="s2072488DefaultParagraphFont"> or </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-16-10"><span class="s2072488DefaultParagraphFont">54-16-10</span></a><span class="s2072488DefaultParagraphFont">, a consumer reporting agency may not release the protected consumer's credit report, any information derived from the protected consumer's credit report, or any record created for the protected consumer.</span></p><p dir="ltr" class="s2072488Normal"><span xml:space="preserve" class="s2072488000001"> </span></p><p dir="ltr" class="s2072488Normal"><span class="s2072488SCL">Source:</span><span xml:space="preserve" class="s2072488SCL-000002"> SL 2016, ch 230, § 5.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072489Normal { 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.s2072489SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072489CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072489Normal-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.s2072489DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072489Normal-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.s2072489000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072489SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072489SCL-000003 { 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="s2072489Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-16-6"><span class="s2072489SENU">54-16-6</span></a><span xml:space="preserve" class="s2072489SENU">. </span><span class="s2072489CL">Duration of security freeze.</span></p><p dir="ltr" class="s2072489Normal-000000"><span xml:space="preserve" class="s2072489DefaultParagraphFont">A security freeze for a protected consumer placed under § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-16-4"><span class="s2072489DefaultParagraphFont">54-16-4</span></a><span xml:space="preserve" class="s2072489DefaultParagraphFont"> shall remain in effect until:</span></p><p dir="ltr" class="s2072489Normal-000001"><span xml:space="preserve" class="s2072489DefaultParagraphFont">(1)    The protected consumer or the protected consumer's representative requests the consumer reporting agency to remove the security freeze in accordance with § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-16-7"><span class="s2072489DefaultParagraphFont">54-16-7</span></a><span class="s2072489DefaultParagraphFont">; or</span></p><p dir="ltr" class="s2072489Normal-000001"><span xml:space="preserve" class="s2072489DefaultParagraphFont">(2)    The security freeze is removed in accordance with § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-16-10"><span class="s2072489DefaultParagraphFont">54-16-10</span></a><span class="s2072489DefaultParagraphFont">.</span></p><p dir="ltr" class="s2072489Normal"><span xml:space="preserve" class="s2072489000002"> </span></p><p dir="ltr" class="s2072489Normal"><span class="s2072489SCL">Source:</span><span xml:space="preserve" class="s2072489SCL-000003"> SL 2016, ch 230, § 6.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072490Normal { 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.s2072490SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072490CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072490Normal-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.s2072490DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2072490Normal-000001 { margin-top: 0; margin-bottom: 0; text-indent: 0.25in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2072490000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072490SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072490SCL-000003 { 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="s2072490Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-16-7"><span class="s2072490SENU">54-16-7</span></a><span xml:space="preserve" class="s2072490SENU">. </span><span class="s2072490CL">Request for removal of security freeze.</span></p><p dir="ltr" class="s2072490Normal-000000"><span class="s2072490DefaultParagraphFont">If a protected consumer or a protected consumer's representative wishes to remove a security freeze for the protected consumer, the protected consumer or the protected consumer's representative shall submit a request for the removal of the security freeze to the consumer reporting agency in the manner specified by the agency. If the request is made by the protected consumer, the requestor shall provide to the consumer reporting agency proof that the authority for the protected consumer's representative is no longer valid and sufficient proof of the identification of the protected consumer. If the request is made by the protected consumer's representative, the requestor shall provide to the consumer reporting agency sufficient proof of identification of the protected consumer and the representative, and sufficient proof of authority to act on behalf of the protected consumer.</span></p><p dir="ltr" class="s2072490Normal-000001"><span xml:space="preserve" class="s2072490DefaultParagraphFont">The requestor shall pay to the consumer reporting agency a fee as provided in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-16-9"><span class="s2072490DefaultParagraphFont">54-16-9</span></a><span class="s2072490DefaultParagraphFont">.</span></p><p dir="ltr" class="s2072490Normal"><span xml:space="preserve" class="s2072490000002"> </span></p><p dir="ltr" class="s2072490Normal"><span class="s2072490SCL">Source:</span><span xml:space="preserve" class="s2072490SCL-000003"> SL 2016, ch 230, § 7.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072491Normal { 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.s2072491SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072491CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072491Normal-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.s2072491DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072491000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072491SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072491SCL-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="s2072491Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-16-8"><span class="s2072491SENU">54-16-8</span></a><span xml:space="preserve" class="s2072491SENU">. </span><span class="s2072491CL">Time for removal of security freeze upon request.</span></p><p dir="ltr" class="s2072491Normal-000000"><span xml:space="preserve" class="s2072491DefaultParagraphFont">Within thirty days after receiving a request that meets the requirements of § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-16-7"><span class="s2072491DefaultParagraphFont">54-16-7</span></a><span class="s2072491DefaultParagraphFont">, the consumer reporting agency shall remove the security freeze for the protected consumer.</span></p><p dir="ltr" class="s2072491Normal"><span xml:space="preserve" class="s2072491000001"> </span></p><p dir="ltr" class="s2072491Normal"><span class="s2072491SCL">Source:</span><span xml:space="preserve" class="s2072491SCL-000002"> SL 2016, ch 230, § 8.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072492Normal { 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.s2072492SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072492CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072492Normal-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.s2072492DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072492000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072492SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072492SCL-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="s2072492Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-16-9"><span class="s2072492SENU">54-16-9</span></a><span xml:space="preserve" class="s2072492SENU">. </span><span class="s2072492CL">Fees of consumer reporting agency.</span></p><p dir="ltr" class="s2072492Normal-000000"><span class="s2072492DefaultParagraphFont">A consumer reporting agency may charge a reasonable fee, not exceeding five dollars, for each placement or removal of a security freeze for a protected consumer. However, no consumer reporting agency may charge a fee under this section if the protected consumer's representative provides a police report or affidavit of alleged identity fraud against the protected consumer to the consumer reporting agency, or a request for the placement or removal of a security freeze is for a protected consumer who is under the age of sixteen years at the time of the request, and the agency has a consumer report pertaining to the protected consumer. No consumer reporting agency may charge a fee for any other service performed under this chapter.</span></p><p dir="ltr" class="s2072492Normal"><span xml:space="preserve" class="s2072492000001"> </span></p><p dir="ltr" class="s2072492Normal"><span class="s2072492SCL">Source:</span><span xml:space="preserve" class="s2072492SCL-000002"> SL 2016, ch 230, § 9.</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 - DEBTOR AND CREDITOR </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2072493Normal { 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.s2072493SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072493CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2072493Normal-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.s2072493DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072493000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2072493SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2072493SCL-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="s2072493Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=54-16-10"><span class="s2072493SENU">54-16-10</span></a><span xml:space="preserve" class="s2072493SENU">. </span><span class="s2072493CL">Removal of security freeze based on material misrepresentation.</span></p><p dir="ltr" class="s2072493Normal-000000"><span class="s2072493DefaultParagraphFont">A consumer reporting agency may remove a security freeze for a protected consumer or delete a record of a protected consumer if the security freeze was placed or the record was created based on a material misrepresentation of fact by the protected consumer or the protected consumer's representative.</span></p><p dir="ltr" class="s2072493Normal"><span xml:space="preserve" class="s2072493000001"> </span></p><p dir="ltr" class="s2072493Normal"><span class="s2072493SCL">Source:</span><span xml:space="preserve" class="s2072493SCL-000002"> SL 2016, ch 230, § 10.</span></p></div></body></html>