South Dakota § 51A-12-5 Discounting not considered as money borrowed for purposes of loan limitation.

South Dakota Statutes

§ 51A-12-5 — Discounting not considered as money borrowed for purposes of loan limitation.

South Dakota § 51A-12-5

Title 51ABANKS AND BANKING

Ch. 51A-11BANK LOANS

This text of South Dakota § 51A-12-5 (Discounting not considered as money borrowed for purposes of loan limitation.) is published on Counsel Stack Legal Research, covering South Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.D. Codified Laws § 51A-12-5 (2026).

Text

For the purposes of § 51A-12-2 , the discount of bills of exchange drawn in good faith against actual existing values, and the discount of commercial paper actually owned by the person negotiating the same shall not be considered as money borrowed.

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Legislative History

SL 1909, ch 222, art 2, § 29; SL 1915, ch 102, art 2, § 33; RC 1919, § 8980; SL 1923, ch 114; SL 1927, ch 59, § 1; SDC 1939, § 6.0428; SL 1943, ch 18; SL 1947, ch 27; SL 1957, ch 14; SL 1961, ch 19; SL 1963, ch 27; SDCL, § 51-11-9; SL 1969, ch 11, § 10.3; SDCL, § 51-24-5.