ENTITLED, An Act to
revise certain provisions regarding the interest rate on past due moneys.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA:
be amended to read as follows:
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 § 54-3-16 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.
An Act to revise certain provisions regarding the interest rate on past due moneys.
I certify that the attached
originated in the
Speaker of the House
President of the Senate
Secretary of the Senate
File No. ____
Chapter No. ______
Received at this Executive Office
this _____ day of _____________ ,
20____ at ____________ M.
for the Governor
The attached Act is hereby
approved this ________ day of
______________ , A.D., 20___
STATE OF SOUTH DAKOTA,
Office of the Secretary of State
Filed ____________ , 20___
at _________ o'clock __ M.
Secretary of State
Asst. Secretary of State