South Dakota Codified Laws
Title 54 - Debtor and Creditor

Section 54-2-4 - Obligation for payment extinguished by tender and deposit in state bank. - 54-2-4. Obligation for payment extinguished by tender and deposit in...

Chapter 03 - Interest And Usury

Section 54-3-1 - Interest defined. - 54-3-1. Interest defined. Interest is the compensation allowed by law...

Section 54-3-1.1 - Rate of interest set by written agreement--No maximum or usury restriction. - 54-3-1.1. Rate of interest set by written agreement--No maximum or...

Section 54-3-2 - Loan of money--Presumption as to interest. - 54-3-2. Loan of money--Presumption as to interest. Whenever a loan...

Section 54-3-3 - Annual rate of interest where not specified. - 54-3-3. Annual rate of interest where not specified. When a...

Section 54-3-4 - Maximum rate of interest where no rate specified--Commencement where date not specified. - 54-3-4. Maximum rate of interest where no rate specified--Commencement where...

Section 54-3-5 - Interest on moneys after they become due--Exception for express contracts or interest rate on bill, statement, or invoice--Limitation on interest rate. - 54-3-5. Interest on moneys after they become due--Exception for express...

Section 54-3-5.1 - Interest on judgments, statutory liens and inverse condemnations. - 54-3-5.1. Interest on judgments, statutory liens and inverse condemnations. Interest...

Section 54-3-6 - Legal rate of interest stipulated by contract after breach. - 54-3-6. Legal rate of interest stipulated by contract after breach....

Section 54-3-8 - Interest on loan--Advance deduction. - 54-3-8. Interest on loan--Advance deduction. The interest which would become...

Section 54-3-13 - Regulated lenders exempt from interest rate limitations and usury statutes. - 54-3-13. Regulated lenders exempt from interest rate limitations and usury...

Section 54-3-14 - Regulated lenders defined. - 54-3-14. Regulated lenders defined. The term, regulated lenders, as used...

Section 54-3-15 - Exemption from federal preemption of state usury laws. - 54-3-15.Exemption from federal preemption of state usury laws. The provisions...

Section 54-3-16 - Official state interest rates. - 54-3-16. Official state interest rates. The official state interest rates,...

Section 54-3-17 - Recommendations for amendment of official rates. - 54-3-17. Recommendations for amendment of official rates. The Division of...

Chapter 03A - Consumer Installment Sales Contracts

Section 54-3A-1 - Definition of terms. - 54-3A-1. Definition of terms. Terms used in this chapter mean:...

Section 54-3A-2 - Items included in amount financed. - 54-3A-2. Items included in amount financed. As used in this...

Section 54-3A-3 - Finance charges on installment sales contract. - 54-3A-3. Finance charges on installment sales contract. Notwithstanding the provisions...

Section 54-3A-5 - Additional charges allowed--Disclosure and explanation to consumer--Separate agreement. - 54-3A-5. Additional charges allowed--Disclosure and explanation to consumer--Separate agreement. In...

Section 54-3A-6 - Commencement of term of obligation--Down payments. - 54-3A-6. Commencement of term of obligation--Down payments. The term of...

Section 54-3A-7 - Modification of agreement to increase outstanding obligation prohibited--Exception. - 54-3A-7. Modification of agreement to increase outstanding obligation prohibited--Exception. Except...

Section 54-3A-8 - Rule for computing refund of charges on prepayment. - 54-3A-8. Rule for computing refund of charges on prepayment. As...

Section 54-3A-8.1 - Restriction on use of rule. - 54-3A-8.1. Restriction on use of rule. The Rule of 78...

Section 54-3A-9 - Rebate of portion of finance charge on prepayment or refinancing--Exceptions. - 54-3A-9. Rebate of portion of finance charge on prepayment or...

Section 54-3A-10 - Rebate on acceleration of maturity. - 54-3A-10. Rebate on acceleration of maturity. If the maturity of...

Section 54-3A-11 - Delinquent installments--Notice of penalty to consumer. - 54-3A-11. Delinquent installments--Notice of penalty to consumer. If the buyer...

Section 54-3A-12 - Imposition and collection of delinquency charge. - 54-3A-12. Imposition and collection of delinquency charge. The holder of...

Section 54-3A-12.1 - Imposition and collection of returned check charge--Maximum. - 54-3A-12.1. Imposition and collection of returned check charge--Maximum. The holder...

Section 54-3A-14 - Unilateral deferral by creditor prohibited. - 54-3A-14. Unilateral deferral by creditor prohibited. No term of a...

Section 54-3A-15 - Deferral agreement requirements. - 54-3A-15. Deferral agreement requirements. A deferral agreement shall: (1)Be in...

Section 54-3A-16 - Deferral charge not collected on refinancing. - 54-3A-16. Deferral charge not collected on refinancing. A charge may...

Section 54-3A-17 - Refinancing agreement--Rebate excluded. - 54-3A-17. Refinancing agreement--Rebate excluded. A creditor may, by written agreement...

Section 54-3A-18 - Refinancing agreement requirements. - 54-3A-18. Refinancing agreement requirements. A refinancing agreement shall: (1)Be in...

Section 54-3A-19 - Creditor's remedies on delinquency. - 54-3A-19. Creditor's remedies on delinquency. If a delinquent installment is...

Section 54-3A-20 - Debt forfeited for excessive charges--Costs and attorney fees. - 54-3A-20. Debt forfeited for excessive charges--Costs and attorney fees. If...

Section 54-3A-21 - Limitation on action for excessive charges. - 54-3A-21. Limitation on action for excessive charges. With respect to...

Section 54-3A-22 - Demand required before action for excessive charges. - 54-3A-22. Demand required before action for excessive charges. No action...

Section 54-3A-23 - Proof of unintentional error. - 54-3A-23. Proof of unintentional error. The creditor shall have the...

Section 54-3A-24 - Promulgation of rules. - 54-3A-24. Promulgation of rules. The Department of Labor and Regulation...

Section 54-3A-25 - Severability of provisions. - 54-3A-25. Severability of provisions. If any part of this chapter...

Chapter 04 - Money Lending Licenses

Section 54-4-36 - Definition of terms. - 54-4-36. Definition of terms. Terms used in this chapter mean:...

Section 54-4-37 - Entities exempt from chapter provisions. - 54-4-37. Entities exempt from chapter provisions. The following entities are...

Section 54-4-37.1 - Exemption for originating, selling, servicing, or acquiring five or fewer loans in twelve-month period where total of outstanding loans under certain amount--Annual report. - 54-4-37.1. Exemption for originating, selling, servicing, or acquiring five or...

Section 54-4-38 - Promulgation of rules. - 54-4-38. Promulgation of rules. The commission may promulgate rules pursuant...

Section 54-4-39 - Compliance with Title 53. - 54-4-39. Compliance with Title 53. An installment loan contract shall...

Section 54-4-40 - Application for license--Licensure through nationwide mortgage licensing system--Public records--Exemptions. - 54-4-40. Application for license--Licensure through nationwide mortgage licensing system--Public records--Exemptions...

Section 54-4-41 - Rejection or acceptance of application by director. - 54-4-41. Rejection or acceptance of application by director. The director...

Section 54-4-42 - Bond to be filed with application. - 54-4-42. Bond to be filed with application. The applicant shall...

Section 54-4-43 - Investigation of facts concerning license application--Requirements for grant of license. - 54-4-43. Investigation of facts concerning license application--Requirements for grant of...

Section 54-4-44 - Engaging in business after procurement of license--Maximum finance charge--Violation as misdemeanor--Loan void. - 54-4-44. Engaging in business after procurement of license--Maximum finance charge--Violation...

Section 54-4-44.1 - Device, subterfuge, or pretense to evade maximum finance charge prohibited--Penalties. - 54-4-44.1. Device, subterfuge, or pretense to evade maximum finance charge...

Section 54-4-44.2 - Motor vehicle purchase loan--Fees incident to extension of credit. - 54-4-44.2. Motor vehicle purchase loan--Fees incident to extension of credit....

Section 54-4-44.3 - Consumer default--Fees incident to extension of credit. - 54-4-44.3. Consumer default--Fees incident to extension of credit. For the...

Section 54-4-44.4 - Business-to-business lending exempt. - 54-4-44.4. Business-to-business lending exempt. The provisions of §54-4-44 that place...

Section 54-4-45 - Duration of license--Renewal. - 54-4-45. Duration of license--Renewal. A license expires on December thirty-first....

Section 54-4-46 - Transfer of license--Approval required for name change. - 54-4-46. Transfer of license--Approval required for name change. The licensee...

Section 54-4-47 - Location to be licensed--Change of location. - 54-4-47. Location to be licensed--Change of location. Each licensee's business...

Section 54-4-47.1 - Remote work--Requirements. - 54-4-47.1. Remote work--Requirements. An employee of a licensee may work...

Section 54-4-48 - Cease and desist order for practice not in conformity to requirements--Appeal. - 54-4-48. Cease and desist order for practice not in conformity...

Section 54-4-49 - Conditions, denial, nonrenewal, suspension, or revocation of license. - 54-4-49. Conditions, denial, nonrenewal, suspension, or revocation of license. The...

Section 54-4-50 - Injunction against licensee for violation. - 54-4-50. Injunction against licensee for violation. An action may be...

Section 54-4-51 - Court-appointed receivership. - 54-4-51. Court-appointed receivership. In addition to any other means provided...

Section 54-4-52 - License required. - 54-4-52. License required. No person may engage in the business...

Section 54-4-53 - Deposit of funds. - 54-4-53. Deposit of funds. Any money received by the division...

Section 54-4-54 - Payment of annual tax--Exemption. - 54-4-54. Payment of annual tax--Exemption. Each licensee, whether a corporation...

Section 54-4-55 - Exemption from other taxes. - 54-4-55. Exemption from other taxes. Except for taxes on real...

Section 54-4-56 - Renewal of application--Tax information--Forms. - 54-4-56. Renewal of application--Tax information--Forms. Each licensee shall annually file...

Section 54-4-57 - Examination of records--Costs--Information--Forms--Application of other provisions. - 54-4-57. Examination of records--Costs--Information--Forms--Application of other provisions. The division may...

Section 54-4-58 - Information required in contract. - 54-4-58. Information required in contract. The licensee shall disclose in...

Section 54-4-59 - Property insurance required. - 54-4-59. Property insurance required. A creditor may require property insurance...

Section 54-4-60 - Purchase of insurance not condition to receive loan. - 54-4-60. Purchase of insurance not condition to receive loan. A...

Section 54-4-61 - Copy provided to debtor. - 54-4-61. Copy provided to debtor. The debtor may request a...

Section 54-4-62 - Satisfaction of loan--Release of assignments. - 54-4-62. Satisfaction of loan--Release of assignments. When the payment of...

Section 54-4-63 - Advertising. - 54-4-63. Advertising. Any licensee may advertise in any medium. No...

Section 54-4-64 - Application of chapter. - 54-4-64. Application of chapter. The provisions of this chapter do...

Section 54-4-65 - Limitation on renewal, rollover, or flip of short-term consumer loan--Fee. - 54-4-65. Limitation on renewal, rollover, or flip of short-term consumer...

Section 54-4-66 - Maximum amount of payday loan--Violation as misdemeanor. - 54-4-66. Maximum amount of payday loan--Violation as misdemeanor. The maximum...

Section 54-4-67 - Production of records located outside state--Alternate procedures--Designated record inspectors. - 54-4-67. Production of records located outside state--Alternate procedures--Designated record inspectors....

Section 54-4-68 - Appointment of resident agent for service of process--Notice. - 54-4-68. Appointment of resident agent for service of process--Notice. A...

Section 54-4-69 - Consent to be sued--Form. - 54-4-69. Consent to be sued--Form. A person licensed pursuant to...

Section 54-4-70 - Title loans to be evidenced by written agreement--Possession of certification of title--Application of statutes on secured transactions. - 54-4-70. Title loans to be evidenced by written agreement--Possession of...

Section 54-4-71 - Term of title loan--Renewal--Payment amounts--Deferred principal amount. - 54-4-71. Term of title loan--Renewal--Payment amounts--Deferred principal amount. Any title...

Section 54-4-72 - Default in repayment of title loan--Remedy--Exception--Sale of reposed vehicle--Refund of surplus less expenses. - 54-4-72. Default in repayment of title loan--Remedy--Exception--Sale of reposed vehicle--Refund...

Section 54-4-73 - Debt cancellation contract defined. - 54-4-73. Debt cancellation contract defined. For the purposes of this...

Section 54-4-74 - Debt suspension contract defined. - 54-4-74. Debt suspension contract defined. For the purposes of this...

Section 54-4-75 - Debt cancellation contracts and debt suspension contracts permitted. - 54-4-75. Debt cancellation contracts and debt suspension contracts permitted. A...

Section 54-4-76 - Loans by unlicensed lenders uncollectible except for principal. - 54-4-76. Loans by unlicensed lenders uncollectible except for principal. Any...

Section 54-4-77 - Debt collection--Prohibitions. - 54-4-77. Debt collection--Prohibitions. No person employed by a licensee to...

Section 54-4-77.1 - Exemptions not applicable to prohibited debt-collection tactics. - 54-4-77.1. Exemptions not applicable to prohibited debt-collection tactics. The exemptions...

Section 54-4-78 - Use of nationwide mortgage licensing system and registry for requesting and distributing information. - 54-4-78. Use of nationwide mortgage licensing system and registry for...

Section 54-4-79 - Contracts for collection and maintenance of records and processing of fees. - 54-4-79. Contracts for collection and maintenance of records and processing...

Section 54-4-80 - Sharing of information collected by director. - 54-4-80. Sharing of information collected by director. The following provisions...

Section 54-4-81 - Attorney's fees recoverable if provided for in evidence of debt. - 54-4-81. Attorney's fees recoverable if provided for in evidence of...

Chapter 06A - Lease-Purchase Agreements For Personal Property

Section 54-6A-1 - Definitions. - 54-6A-1. Definitions. Terms used in this chapter mean: (1)"Advertisement," a...

Section 54-6A-2 - Lease-purchase agreement defined. - 54-6A-2. Lease-purchase agreement defined. A lease-purchase agreement is an agreement...

Section 54-6A-3 - Agreements exempt from other laws. - 54-6A-3. Agreements exempt from other laws. Lease-purchase agreements which comply...

Section 54-6A-4 - Disclosure of information. - 54-6A-4. Disclosure of information. The lessor shall disclose to the...

Section 54-6A-5 - Information required in disclosure. - 54-6A-5. Information required in disclosure. For each lease-purchase agreement, the...

Section 54-6A-6 - Provisions prohibited in agreements. - 54-6A-6. Provisions prohibited in agreements. A lease-purchase agreement may not...

Section 54-6A-7 - Reinstatement of agreement--Repossession. - 54-6A-7. Reinstatement of agreement--Repossession. A consumer who fails to make...

Section 54-6A-8 - Written receipts for cash or money order. - 54-6A-8. Written receipts for cash or money order. A lessor...

Section 54-6A-9 - Renegotiation for new agreement--Extensions. - 54-6A-9. Renegotiation for new agreement--Extensions. A renegotiation shall occur when...

Section 54-6A-10 - Advertisement of lease-purchase agreement. - 54-6A-10. Advertisement of lease-purchase agreement. If an advertisement for a...

Chapter 08 - Acts In Fraud Of Creditors

Section 54-8-1 - Transfer with intent to delay or defraud creditors void. - 54-8-1. Transfer with intent to delay or defraud creditors void....

Section 54-8-2 - Transfer of personal property--Constructive notice or actual delivery of possession--Rights of creditors. - 54-8-2. Transfer of personal property--Constructive notice or actual delivery of...

Section 54-8-3 - Avoidance of act or obligation of debtor for fraud--Obstruction of legal process. - 54-8-3. Avoidance of act or obligation of debtor for fraud--Obstruction...

Section 54-8-4 - Fraudulent intent--Question of fact--Inadequacy of consideration. - 54-8-4. Fraudulent intent--Question of fact--Inadequacy of consideration. In all cases...

Section 54-8-20 - Removal, secretion, encumbrancing or disposition of property to defraud creditors--Misdemeanor. - 54-8-20. Removal, secretion, encumbrancing or disposition of property to defraud...

Section 54-8-21 - Assignment or transfer of property to preferred creditors as felony--Exception. - 54-8-21. Assignment or transfer of property to preferred creditors as...

Section 54-8-22 - Party to transfer or assignment of property to defraud creditors guilty of felony. - 54-8-22. Party to transfer or assignment of property to defraud...

Section 54-8-23 - Fraud in bankruptcy proceedings--Misdemeanor. - 54-8-23. Fraud in bankruptcy proceedings--Misdemeanor. Every person who, upon making...

Chapter 08A - Uniform Fraudulent Transfer Act

Section 54-8A-1 - Definitions. - 54-8A-1. Definitions. Terms used in this chapter mean: (1)"Affiliate," (i)Any...

Section 54-8A-2 - Insolvency. - 54-8A-2. Insolvency. (a) A debtor is insolvent if the sum...

Section 54-8A-3 - Value. - 54-8A-3. Value. (a) Value is given for a transfer or...

Section 54-8A-4 - Transfers fraudulent as to present and future creditors. - 54-8A-4. Transfers fraudulent as to present and future creditors. (a)...

Section 54-8A-5 - Transfers fraudulent as to present creditors. - 54-8A-5. Transfers fraudulent as to present creditors. (a) A transfer...

Section 54-8A-6 - When transfer is made or obligation is incurred. - 54-8A-6. When transfer is made or obligation is incurred. For...

Section 54-8A-7 - Remedies of creditors. - 54-8A-7. Remedies of creditors. (a) In an action for relief...

Section 54-8A-8 - Defenses, liability and protection of transferee. - 54-8A-8. Defenses, liability and protection of transferee. (a) A transfer...

Section 54-8A-9 - Extinguishment of cause of action. - 54-8A-9. Extinguishment of cause of action. A cause of action...

Section 54-8A-10 - Supplementary provisions. - 54-8A-10. Supplementary provisions. Unless displaced by the provisions of this...

Section 54-8A-11 - Uniform application and construction. - 54-8A-11. Uniform application and construction. This chapter shall be applied...

Section 54-8A-12 - Short title. - 54-8A-12. Short title. This chapter may be cited as the...

Chapter 09 - Assignment For Benefit Of Creditors

Section 54-9-1 - Execution of assignment by insolvent debtor. - 54-9-1. Execution of assignment by insolvent debtor. An insolvent debtor,...

Section 54-9-2 - Instrument of assignment--Execution--Acknowledgment or proof--Recording--Defective execution invalidates assignment. - 54-9-2. Instrument of assignment--Execution--Acknowledgment or proof--Recording--Defective execution invalidates assignment. An...

Section 54-9-3 - Subsisting absolute or contingent liability of assignor. - 54-9-3. Subsisting absolute or contingent liability of assignor. An assignment...

Section 54-9-5 - Assignment invalid against creditor of assignor not assenting thereto. - 54-9-5. Assignment invalid against creditor of assignor not assenting thereto....

Section 54-9-6 - Property exempt from execution--Life insurance--Effect of assignment. - 54-9-6. Property exempt from execution--Life insurance--Effect of assignment. Property exempt...

Section 54-9-7 - Inventory required of assignor--Contents--Verification. - 54-9-7. Inventory required of assignor--Contents--Verification. Within twenty days after an...

Section 54-9-8 - Recording assignment and filing inventory. - 54-9-8. Recording assignment and filing inventory. The assignment must be...

Section 54-9-9 - Effect of omitting to record--Assignment of real property. - 54-9-9. Effect of omitting to record--Assignment of real property. An...

Section 54-9-10 - Assent of creditors necessary to modification of assignment. - 54-9-10. Assent of creditors necessary to modification of assignment. An...

Section 54-9-11 - Bond of assignee--Amount--Approval of sureties by circuit court--Terms and conditions. - 54-9-11. Bond of assignee--Amount--Approval of sureties by circuit court--Terms and...

Section 54-9-12 - Disposal or conversion of estate--Authority of assignee. - 54-9-12. Disposal or conversion of estate--Authority of assignee. Until the...

Section 54-9-13 - Assignee takes subject to rights of third parties--Nonliability for acts done in good faith under void assignment. - 54-9-13. Assignee takes subject to rights of third parties--Nonliability for...

Section 54-9-13.1 - Action by assignee against person receiving property of debtor in fraud of creditors. - 54-9-13.1. Action by assignee against person receiving property of debtor...

Section 54-9-13.2 - Action by assignee against creditor receiving voluntary transfer from insolvent assignor. - 54-9-13.2. Action by assignee against creditor receiving voluntary transfer from...

Section 54-9-13.3 - Duties of assignee. - 54-9-13.3. Duties of assignee. It shall be the duty of...

Section 54-9-13.4 - Notice to creditors to present verified claims--Publication. - 54-9-13.4. Notice to creditors to present verified claims--Publication. The judge...

Section 54-9-13.5 - Contents of creditor's claim--Claim founded upon instrument. - 54-9-13.5. Contents of creditor's claim--Claim founded upon instrument. The verified...

Section 54-9-13.6 - Time limitation on filing creditor's claim. - 54-9-13.6. Time limitation on filing creditor's claim. All claims whether...

Section 54-9-13.7 - Wages and commissions as preferred claims--Limitation on amount--"Traveling or city salesmen" defined. - 54-9-13.7. Wages and commissions as preferred claims--Limitation on amount--"Traveling or...

Section 54-9-13.8 - Sale or compromise of claims or property of estate--Liability of assignee. - 54-9-13.8. Sale or compromise of claims or property of estate--Liability...

Section 54-9-13.9 - Sales at public auction--Procedure for private sales and sales of perishable property. - 54-9-13.9. Sales at public auction--Procedure for private sales and sales...

Section 54-9-14 - Compensation of assignee. - 54-9-14. Compensation of assignee. In the absence of any provision...

Section 54-9-15 - Proceeding subject to order and supervision of circuit court--Rendition of accounts and filing of reports by assignee--Distribution of trust estate. - 54-9-15. Proceeding subject to order and supervision of circuit court--Rendition...

Section 54-9-15.1 - Power of court to take and state accounts. - 54-9-15.1. Power of court to take and state accounts. In...

Section 54-9-15.2 - Accountants and attorneys appointed by court--Compensation of attorneys. - 54-9-15.2. Accountants and attorneys appointed by court--Compensation of attorneys. In...

Section 54-9-16 - Accounting of assignee. - 54-9-16. Accounting of assignee. After the lapse of six months...

Section 54-9-16.1 - Deposit of funds in court for distribution subsequent to discharge of assignee. - 54-9-16.1. Deposit of funds in court for distribution subsequent to...

Section 54-9-17 - Removal of assignee by circuit court--Appointment and delivery of property to successor. - 54-9-17. Removal of assignee by circuit court--Appointment and delivery of...

Section 54-9-18 - Removal of assignee by circuit court--Discharge on full accounting and surrender of property to new assignee. - 54-9-18. Removal of assignee by circuit court--Discharge on full accounting...

Section 54-9-19 - Discharge of assignee upon full compliance with trust. - 54-9-19. Discharge of assignee upon full compliance with trust. Whenever...

Section 54-9-20 - Application of assignee for discharge--Notice by publication. - 54-9-20. Application of assignee for discharge--Notice by publication. In either...

Section 54-9-21 - Hearing upon application of assignee for discharge--Order requiring the performance of acts not completed--Order of discharge, granting, effect. - 54-9-21. Hearing upon application of assignee for discharge--Order requiring the...

Section 54-9-22 - Federal bankruptcy proceedings, possession of estate taken from assignee--Discharge of assignee on full accounting to trustee in bankruptcy. - 54-9-22. Federal bankruptcy proceedings, possession of estate taken from assignee--Discharge...

Chapter 10 - Secured Creditors' Claims In Liquidation Proceedings

Section 54-10-1 - Definition of terms. - 54-10-1. Definition of terms. Terms used in this chapter mean:...

Section 54-10-2 - Secured creditor's claim against general assets--Disclosure of nature of security. - 54-10-2. Secured creditor's claim against general assets--Disclosure of nature of...

Section 54-10-3 - Failure of secured creditor to disclose existence of security--Effect of concealment. - 54-10-3. Failure of secured creditor to disclose existence of security--Effect...

Section 54-10-4 - Dividends to secured creditors--Computation. - 54-10-4. Dividends to secured creditors--Computation. Dividends paid to secured creditors...

Section 54-10-5 - Obligation for payment of money as security--Determination of value. - 54-10-5. Obligation for payment of money as security--Determination of value....

Section 54-10-6 - Security other than obligation for the payment of money--Determination of value. - 54-10-6. Security other than obligation for the payment of money--Determination...

Section 54-10-7 - Statutory provisions for determination of value of obligations impracticable or resulting in undue delay--Alternative method for determination of value. - 54-10-7. Statutory provisions for determination of value of obligations impracticable...

Section 54-10-8 - Value of security, determination by compromise--Redemption of assets by liquidator. - 54-10-8. Value of security, determination by compromise--Redemption of assets by...

Section 54-10-9 - Value of security, determination by litigation--Redemption of assets by liquidator. - 54-10-9. Value of security, determination by litigation--Redemption of assets by...

Section 54-10-10 - Value of security, determination by liquidator's sale of assets--Order of sale, requirements. - 54-10-10. Value of security, determination by liquidator's sale of assets--Order...

Section 54-10-11 - Value of exempt security not credited upon claim. - 54-10-11. Value of exempt security not credited upon claim. When...

Section 54-10-12 - Application of chapter to existing transactions. - 54-10-12. Application of chapter to existing transactions. This chapter shall...

Section 54-10-13 - Uniformity of interpretation of chapter. - 54-10-13. Uniformity of interpretation of chapter. This chapter shall be...

Section 54-10-14 - Citation of chapter. - 54-10-14. Citation of chapter. This chapter may be cited as...

Chapter 11 - Credit Cards And Revolving Charge Accounts

Section 54-11-1 - Credit card and accepted credit card defined. - 54-11-1. Credit card and accepted credit card defined. The term,...

Section 54-11-4 - Unsolicited issuance of credit card prohibited--No liability for misuse by others. - 54-11-4. Unsolicited issuance of credit card prohibited--No liability for misuse...

Section 54-11-5 - "Revolving charge account" and "consumer goods and services" defined. - 54-11-5."Revolving charge account" and "consumer goods and services" defined. For...

Section 54-11-6.1 - Credit service charge permitted on revolving charge account. - 54-11-6.1. Credit service charge permitted on revolving charge account. A...

Section 54-11-6.2 - Amount of service charge--Requirements--Compounding charge. - 54-11-6.2. Amount of service charge--Requirements--Compounding charge. A charge may be...

Section 54-11-6.3 - Maximum service charge. - 54-11-6.3. Maximum service charge. The charge shall be at a...

Section 54-11-6.4 - Minimum charge on monthly bills when service charge less than minimum charge. - 54-11-6.4. Minimum charge on monthly bills when service charge less...

Section 54-11-8 - Bank loan accounts unaffected. - 54-11-8. Bank loan accounts unaffected. The provisions of §§54-11-5 and...

Section 54-11-9 - Creation of contract between card holder and issuer. - 54-11-9. Creation of contract between card holder and issuer. The...

Section 54-11-12 - Change in terms of credit card agreement. - 54-11-12.Change in terms of credit card agreement. A credit card...

Chapter 12 - Reverse Mortgage Loans

Section 54-12-20 - Reverse mortgage defined. - 54-12-20. Reverse mortgage defined. For the purposes of this chapter,...

Section 54-12-21 - Rules for reverse mortgage loans. - 54-12-21. Rules for reverse mortgage loans. A reverse mortgage loan...

Section 54-12-22 - Reverse mortgage loan payment--Undisbursed reverse mortgage funds. - 54-12-22. Reverse mortgage loan payment--Undisbursed reverse mortgage funds. A reverse...

Chapter 13 - State Farm Mediation Board

Section 54-13-1 - Definition of terms. - 54-13-1. Definition of terms. Terms used in this chapter mean:...

Section 54-13-2 - Agriculture mediation program--Purposes--Administration. - 54-13-2. Agricultural mediation program--Purposes--Administration. The Department of Agriculture and Natural...

Section 54-13-4 - Staff services--Employment of director and other employees--Payment of expenses. - 54-13-4. Staff services--Employment of director and other employees--Payment of expenses....

Section 54-13-5 - Responsibility for fees--Agricultural mediation operating fund created--Appropriation--Annual review--Disbursements. - 54-13-5. Responsibility for fees--Agricultural mediation operating fund created--Appropriation--Annual review--Disbursements. Any...

Section 54-13-6 - Contracts with state agencies, nonprofit corporations, or individuals. - 54-13-6. Contracts with state agencies, nonprofit corporations, or individuals. The...

Section 54-13-7 - Assistance to borrower or creditor. - 54-13-7. Assistance to borrower or creditor. Any borrower or creditor...

Section 54-13-9 - Notice to borrower and creditor of availability of financial preparation assistance. - 54-13-9. Notice to borrower and creditor of availability of financial...

Section 54-13-10 - Mandatory mediation--Requirements--Voluntary mediation. - 54-13-10. Mandatory mediation--Requirements--Voluntary mediation. A creditor desiring to commence an...

Section 54-13-11 - Notice of initial mediation meeting--Exempt creditors--Waiver of right to mediate--Debt collection limitations. - 54-13-11. Notice of initial mediation meeting--Exempt creditors--Waiver of right to...

Section 54-13-12 - Length of mediation period--Notice to borrower--Additional meetings. - 54-13-12. Length of mediation period--Notice to borrower--Additional meetings. The total...

Section 54-13-13 - Mediation of indebtedness requested by borrower--Procedure--Attendance at meetings not required. - 54-13-13. Mediation of indebtedness requested by borrower--Procedure--Attendance at meetings not...

Section 54-13-14 - State or federal time periods deemed to run concurrently. - 54-13-14. State or federal time periods deemed to run concurrently....

Section 54-13-15 - Continuation of mediation--Expiration of mediation period--Agreement between borrower and creditors. - 54-13-15. Continuation of mediation--Expiration of mediation period--Agreement between borrower and...

Section 54-13-16 - Statement of waiver or failure to reach agreement deemed release. - 54-13-16. Statement of waiver or failure to reach agreement deemed...

Section 54-13-17 - Time limitation on waiver by borrower. - 54-13-17. Time limitation on waiver by borrower. Any waiver by...

Section 54-13-18 - Information regarding finances of borrowers and creditors not public records--Mediation meetings not open. - 54-13-18. Information regarding finances of borrowers and creditors not public...

Section 54-13-19 - Other rights and duties, penalties, and actions not affected. - 54-13-19. Other rights and duties, penalties, and actions not affected....

Section 54-13-20 - Mediator or ag finance counselor immunity from civil liability--Qualifications. - 54-13-20. Mediator or ag finance counselor immunity from civil liability--Qualifications....

Chapter 14 - Mortgage Lender Business

Section 54-14-12 - Definitions. - 54-14-12.Definitions. Terms used in this chapter mean: (1)"Depository institution," the...

Section 54-14-12.1 - Loan processor or underwriter defined. - 54-14-12.1. Loan processor or underwriter defined. For the purposes of...

Section 54-14-12.2 - Mortgage loan originator defined. - 54-14-12.2. Mortgage loan originator defined. For the purposes of this...

Section 54-14-12.3 - Real estate brokerage activity defined. - 54-14-12.3. Real estate brokerage activity defined. For the purposes of...

Section 54-14-12.4 - Registered mortgage loan originator defined. - 54-14-12.4. Registered mortgage loan originator defined. For the purposes of...

Section 54-14-13 - License required for mortgage lenders, brokerage, brokers, and loan originators--Identification through nationwide mortgage licensing system and registry--Exemption. - 54-14-13. License required for mortgage lenders, brokerage, brokers, and loan...

Section 54-14-13.1 - (See §54-14-13.3 for effective dates) Mortgage loan originator license--Required findings. - 54-14-13.1.(See §54-14-13.3 for effective dates) Mortgage loan originator license--Required findings....

Section 54-14-13.2 - (See §54-14-13.3 for effective dates) Mortgage loan originator license--Renewal standards. - 54-14-13.2.(See §54-14-13.3 for effective dates) Mortgage loan originator license--Renewal standards....

Section 54-14-13.3 - Effective dates of §§54-14-13.1 and 54-14-13.2. - 54-14-13.3. Effective dates of §§54-14-13.1 and 54-14-13.2. The effective dates...

Section 54-14-13.4 - License required for loan processor or underwriter--Identification through nationwide mortgage licensing system and registry. - 54-14-13.4. License required for loan processor or underwriter--Identification through nationwide...

Section 54-14-13.5 - License required for company originating, selling, or servicing nonresidential mortgage loans. - 54-14-13.5. License required for company originating, selling, or servicing nonresidential...

Section 54-14-14 - Application for licensure or registration. - 54-14-14. Application for licensure or registration. Any applicant for licensure...

Section 54-14-15 - Information to be furnished to nationwide mortgage licensing system and registry--Distribution of information--Criminal background check. - 54-14-15. Information to be furnished to nationwide mortgage licensing system...

Section 54-14-16 - Fees. - 54-14-16. Fees. The applicant for an initial license shall submit...

Section 54-14-17 - License and registration not assignable. - 54-14-17. License and registration not assignable. No license or registration...

Section 54-14-18 - Expiration of license or registration. - 54-14-18. Expiration of license or registration. Any license or registration...

Section 54-14-19 - Fees for renewal of license. - 54-14-19. Fees for renewal of license. Any application for renewal...

Section 54-14-20 - Exemption of certain entities from chapter. - 54-14-20. Exemption of certain entities from chapter. The State of...

Section 54-14-20.1 - Exemption of certain persons from mortgage loan originator license requirement. - 54-14-20.1. Exemption of certain persons from mortgage loan originator license...

Section 54-14-20.2 - Exemption of attorneys from mortgage loan originator license requirement. - 54-14-20.2. Exemption of attorneys from mortgage loan originator license requirement....

Section 54-14-21 - Exemption of certain entities from licensing requirements. - 54-14-21. Exemption of certain entities from licensing requirements. The following...

Section 54-14-23 - Mortgage broker or lender permitted to use services of mortgage loan originator. - 54-14-23. Mortgage broker or lender permitted to use services of...

Section 54-14-24 - Surety bond requirements. - 54-14-24. Surety bond requirements. Each mortgage lender, mortgage brokerage, mortgage...

Section 54-14-25 - Violation of license or registration requirements--Misdemeanor. - 54-14-25. Violation of license or registration requirements--Misdemeanor. Any person, who...

Section 54-14-25.1 - Civil penalty for acting without required license or registration. - 54-14-25.1. Civil penalty for acting without required license or registration....

Section 54-14-26 - Examination and investigation by director. - 54-14-26. Examination and investigation by director. Any licensee or registrant...

Section 54-14-27 - Conditioning, denial, nonrenewal, suspension, or revocation of license. - 54-14-27. Conditioning, denial, nonrenewal, suspension, or revocation of license. The...

Section 54-14-28 - Reinstatement of license or registration--Termination of suspension--New license or registration. - 54-14-28. Reinstatement of license or registration--Termination of suspension--New license or...

Section 54-14-29 - Procedure for contesting suspension or revocation. - 54-14-29. Procedure for contesting suspension or revocation. Any licensee whose...

Section 54-14-30 - Annual tax upon net income--Exemptions. - 54-14-30. Annual tax upon net income--Exemptions. Any licensee under this...

Section 54-14-31 - Promulgation of rules regarding licensing, education, and fees. - 54-14-31. Promulgation of rules regarding licensing, education, and fees. The...

Section 54-14-32 - Disposition of fees. - 54-14-32. Disposition of fees. Fees collected pursuant to this chapter...

Section 54-14-33 - Contracts with nationwide mortgage licensing system. - 54-14-33. Contracts with nationwide mortgage licensing system. The director may...

Section 54-14-34 - Promulgation of rules for challenging information entered in nationwide mortgage licensing system. - 54-14-34. Promulgation of rules for challenging information entered in nationwide...

Section 54-14-35 - Sharing of information. - 54-14-35.Sharing of information. The following provisions apply to the sharing...

Section 54-14-36 - Reports of condition--Promulgation of rules. - 54-14-36. Reports of condition--Promulgation of rules. Each mortgage lender, mortgage...

Section 54-14-37 - Reports of violations and enforcement. - 54-14-37. Reports of violations and enforcement. The director shall report...

Section 54-14-38 - Improper influence on real estate appraisals prohibited--Grounds for discipline. - 54-14-38. Improper influence on real estate appraisals prohibited--Grounds for discipline....

Section 54-14-39 - Conduct not constituting improper influence on real estate appraisals. - 54-14-39. Conduct not constituting improper influence on real estate appraisals....

Section 54-14-40 - Remote work--Requirements. - 54-14-40. Remote work--Requirements. An employee of a licensee may work...

Chapter 15 - Security Freeze On Credit Report

Section 54-15-2 - Security freeze defined. - 54-15-2. Security freeze defined. For the purposes of this chapter,...

Section 54-15-3 - Request to consumer reporting agency for security freeze. - 54-15-3. Request to consumer reporting agency for security freeze. A...

Section 54-15-4 - Time for placing security freeze. - 54-15-4. Time for placing security freeze. A consumer reporting agency...

Section 54-15-5 - Written confirmation of security freeze. - 54-15-5. Written confirmation of security freeze. The consumer reporting agency...

Section 54-15-6 - Request for temporary lifting of security freeze. - 54-15-6. Request for temporary lifting of security freeze. If any...

Section 54-15-7 - Expedited procedures for temporary lifting of security freeze. - 54-15-7. Expedited procedures for temporary lifting of security freeze. A...

Section 54-15-8 - Conditions for removing or temporarily lifting security freeze. - 54-15-8. Conditions for removing or temporarily lifting security freeze. A...

Section 54-15-9 - Treatment of credit or other application as incomplete for denial of limited access to credit information. - 54-15-9. Treatment of credit or other application as incomplete for...

Section 54-15-10 - Disclosure of process for placing and temporarily lifting security freeze or allowing limited access to information. - 54-15-10. Disclosure of process for placing and temporarily lifting security...

Section 54-15-11 - Removal of security freeze--Request for removal. - 54-15-11. Removal of security freeze--Request for removal. A security freeze...

Section 54-15-12 - Use of credit report by certain persons and entities not subject to chapter. - 54-15-12. Use of credit report by certain persons and entities...

Section 54-15-13 - Written confirmation of changes to report while security freeze in place. - 54-15-13. Written confirmation of changes to report while security freeze...

Section 54-15-14 - Resellers of credit information not required to place security freeze. - 54-15-14. Resellers of credit information not required to place security...

Section 54-15-15 - Certain entities not required to place security freeze . - 54-15-15. Certain entities not required to place security freeze. The...

Section 54-15-16 - Furnishing of information to governmental agency when security freeze in place. - 54-15-16. Furnishing of information to governmental agency when security freeze...

Section 54-15-17 - Fee for placement or removal of security freeze prohibited. - 54-15-17. Fee for placement or removal of security freeze prohibited....

Chapter 16 - Credit Reporting Security Freeze For Protected Consumers

Section 54-16-1 - Definitions. - 54-16-1. Definitions. Terms used in this chapter mean: (1)"Protected consumer,"...

Section 54-16-2 - Security freeze for protected consumer upon request to consumer reporting agency by protected consumer's representative. - 54-16-2. Security freeze for protected consumer upon request to consumer...

Section 54-16-3 - Application of chapter. - 54-16-3. Application of chapter. This chapter does not apply to...

Section 54-16-4 - Time for placing security freeze. - 54-16-4. Time for placing security freeze. Within thirty days after...

Section 54-16-5 - Release of report or information prohibited. - 54-16-5. Release of report or information prohibited. Unless a security...

Section 54-16-6 - Duration of security freeze. - 54-16-6. Duration of security freeze. A security freeze for a...

Section 54-16-7 - Request for removal of security freeze. - 54-16-7. Request for removal of security freeze. If a protected...

Section 54-16-8 - Time for removal of security freeze upon request. - 54-16-8. Time for removal of security freeze upon request. Within...

Section 54-16-9 - Fees of consumer reporting agency. - 54-16-9. Fees of consumer reporting agency. A consumer reporting agency...

Section 54-16-10 - Removal of security freeze based on material misrepresentation. - 54-16-10. Removal of security freeze based on material misrepresentation. A...

<< Previous

Next >>

South Dakota Codified Laws Title 54 - Debtor and Creditor

South Dakota Codified Laws
Title 54 - Debtor and Creditor