State of South Dakota
Representatives Jensen, Brunner, Davis, Elliott, Haley, Halverson, Hargens,
Kroger, Pederson (Gordon), and Street and Senators Hansen (Tom),
Abdallah, Apa, Bartling, McCracken, and Peterson (Jim)
FOR AN ACT 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
Any interest rate appearing on a bill, statement, or invoice may not exceed eighteen
300 copies of this document were printed by the South Dakota
Legislative Research Council at a cost of $.029 per page.
Insertions into existing statutes are indicated by underscores.
Deletions from existing statutes are indicated by