54-3-15.Exemption from federal preemption of state usury laws.
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.
Structure South Dakota Codified Laws
Title 54 - Debtor and Creditor
Chapter 03 - Interest And Usury
Section 54-3-1 - Interest defined.
Section 54-3-1.1 - Rate of interest set by written agreement--No maximum or usury restriction.
Section 54-3-2 - Loan of money--Presumption as to interest.
Section 54-3-3 - Annual rate of interest where not specified.
Section 54-3-5.1 - Interest on judgments, statutory liens and inverse condemnations.
Section 54-3-6 - Legal rate of interest stipulated by contract after breach.
Section 54-3-8 - Interest on loan--Advance deduction.
Section 54-3-13 - Regulated lenders exempt from interest rate limitations and usury statutes.
Section 54-3-14 - Regulated lenders defined.
Section 54-3-15 - Exemption from federal preemption of state usury laws.
Section 54-3-16 - Official state interest rates.
Section 54-3-17 - Recommendations for amendment of official rates.