Title 54 — DEBTOR AND CREDITOR

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, direc…

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…

54-3-11

54-3-12

54-3-13 Regulated lenders exempt from interest rate limitations and usury statutes. 54-3-14 Regulated lenders defined. 54-3-15 Exemption from federal preemption of state usury laws. 54-3-16 Official state interest rates. 54-3-17 Recommendations for amendment of official rates.

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 §

The term, regulated lenders, as used in § 54-3-13 means: (1) A bank organized pursuant to chapter 51A-1 , et seq.; (2) A bank organized pursuant to 12 U.S.C. § 21; (3) A trust company organized pursuant to chapter 51A-6A ; (4) A savings and loan association organized pursuant to …

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. Source: SL 1981, ch 351 .

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 § 54-3-16…

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. Source: CivC 1877, § 1094; CL 1887, § 3717; RCivC 1903, § 1413; RC 1919, § 1036; SDC 1939, § 38.0104.

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. Source: CivC 1877, § 1096; CL 1887, § 3719; RCivC 1903, § 1415; RC 1919, § 1038; SDC 1939, § 38.0107.

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 § 54-3-16 , and in the like proportion for a longer …

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…

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 § 25-7A-14 , at the Category B rate of interest as established in § 54-3-16 from and after the d…

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. Source: CivC 1877, § 1102; CL 1887, § 3725; RCivC 1903, § 1421; RC 1919, § 1045; SDC 1939, § 38.0106.…

54-3-7.1

54-3-7.2

54-3-7.3

54-3-7.4

54-3-8 Interest on loan--Advance deduction. 54-3-9

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. Source: CivC 1877, § 1099; CL 1887, § 3722; RCivC 1903, § 1418; RC 1919, § 1043; SDC …

54-3-10