54-3-8. Interest on loan--Advance deduction.
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 1939, §38.0105.
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.