5-26-3.1. Payment of less than five dollars in interest prohibited.
No agency is required to pay interest due because of late payment if the interest is less than five dollars.
Source: SL 1985, ch 45, §5; SL 1988, ch 59, §3.
Structure South Dakota Codified Laws
Title 5 - Public Property, Purchases and Contracts
Chapter 26 - Prompt Payment Act
Section 5-26-2 - Deadlines for payments.
Section 5-26-3 - Interest on overdue payments--Rate.
Section 5-26-3.1 - Payment of less than five dollars in interest prohibited.
Section 5-26-4 - Additional appropriations for interest prohibited.
Section 5-26-5 - Disputed payments exempt--Notice of dispute required.
Section 5-26-7 - Citation of chapter.
Section 5-26-8 - Exemptions of transactions between government agencies.