43-32-24.1. Commercial security deposits.
For the purposes of this section, the term, commercial premises, means any real property for lease that does not consist of residential property, agricultural land, or any quantity of municipal lots. A lessor of commercial premises shall, within sixty days after the termination of the tenancy and receipt of the tenant's mailing address or delivery instructions, return any security deposit to the tenant, or furnish to the tenant, a written statement showing the specific reason for the withholding of the deposit or any portion thereof. The lessor may withhold from the deposit only the amounts reasonably necessary to remedy tenant defaults in the payment of rent or of other funds due to the landlord pursuant to an agreement or to restore the premises to their condition at the commencement of the tenancy, ordinary wear and tear excepted. Within ninety days after termination of the tenancy, upon request of the lessee, the lessor shall provide the lessee with an itemized accounting of any deposit withheld.
Any lessor of a commercial premises who fails to comply with this section shall forfeit all rights to withhold any portion of the deposit.
The bad faith retention of a deposit or any portion of a deposit by a lessor of commercial premises in violation of this section, including failure to provide the written statement and itemized accounting required by this section, shall subject the lessor to punitive damages not to exceed two hundred dollars.
Source: SL 2019, ch 193, ยง1.
Structure South Dakota Codified Laws
Chapter 32 - Lease Of Real Property
Section 43-32-1 - Leasing of real property defined.
Section 43-32-2 - Limited term of lease--Agricultural land--Municipal lots.
Section 43-32-3 - Hiring of real property presumed for one year--Exception.
Section 43-32-4 - Hiring of lodgings--Length of term--Presumption.
Section 43-32-5 - Lease of real property for more than one year--Written contract necessary.
Section 43-32-6 - Obligations of lessor of real property--Tenant's remedies against lessor.
Section 43-32-9 - Failure of lessor to repair premises--Lessee's remedies.
Section 43-32-10 - Preservation of premises by lessee.
Section 43-32-13 - Modification of lease--Written notice by landlord, effect--Termination by tenant.
Section 43-32-15 - Renewal of hiring of real property presumed unless notice given of termination.
Section 43-32-16 - Tenant receiving notice of adverse proceedings--Duty to inform landlord.
Section 43-32-17 - Attornment of tenant to stranger, validity--Consent of landlord--Judgment.
Section 43-32-18.1 - Eviction of tenant--Limitations.
Section 43-32-19 - Termination of lease by tenant--Causes.
Section 43-32-19.2 - Contact information--Disclosure--Limitation.
Section 43-32-24.1 - Commercial security deposits.
Section 43-32-27 - Cause of action against lessor for retaliatory conduct.
Section 43-32-28 - Retaliatory conduct--Remedies--Attorney's fees.
Section 43-32-30 - Disclosure of knowledge of existence of prior manufacturing of methamphetamines.
Section 43-32-31 - Notice to vacate and remove mobile or manufactured home from leased property.
Section 43-32-32 - Reasonable notice of landlord's intent to enter--Contents.
Section 43-32-33 - Service animal and disability defined.
Section 43-32-35 - Service animal documentation requirements.
Section 43-32-37 - Ejection--Hotel, campground, or RV park premises.