54-3A-17. Refinancing agreement--Rebate excluded.
A creditor may, by written agreement with the buyer, refinance the unpaid balance and may contract for and receive a finance charge based on the amount refinanced. Any rebate due to the buyer pursuant to the provisions of §54-3A-9 if the buyer was prepaying in full on the date of the refinancing is excluded from the amount to be refinanced. No minimum finance charge, for the purpose of computing this rebate, is allowed to the creditor.
Source: SL 1974, ch 305, §13; SL 1975, ch 299, §5; SL 1982, ch 343, §4; SL 2015, ch 260, §6.
Structure South Dakota Codified Laws
Title 54 - Debtor and Creditor
Chapter 03A - Consumer Installment Sales Contracts
Section 54-3A-1 - Definition of terms.
Section 54-3A-2 - Items included in amount financed.
Section 54-3A-3 - Finance charges on installment sales contract.
Section 54-3A-6 - Commencement of term of obligation--Down payments.
Section 54-3A-8 - Rule for computing refund of charges on prepayment.
Section 54-3A-8.1 - Restriction on use of rule.
Section 54-3A-9 - Rebate of portion of finance charge on prepayment or refinancing--Exceptions.
Section 54-3A-10 - Rebate on acceleration of maturity.
Section 54-3A-11 - Delinquent installments--Notice of penalty to consumer.
Section 54-3A-12 - Imposition and collection of delinquency charge.
Section 54-3A-12.1 - Imposition and collection of returned check charge--Maximum.
Section 54-3A-14 - Unilateral deferral by creditor prohibited.
Section 54-3A-15 - Deferral agreement requirements.
Section 54-3A-16 - Deferral charge not collected on refinancing.
Section 54-3A-17 - Refinancing agreement--Rebate excluded.
Section 54-3A-18 - Refinancing agreement requirements.
Section 54-3A-19 - Creditor's remedies on delinquency.
Section 54-3A-20 - Debt forfeited for excessive charges--Costs and attorney fees.
Section 54-3A-21 - Limitation on action for excessive charges.
Section 54-3A-22 - Demand required before action for excessive charges.
Section 54-3A-23 - Proof of unintentional error.