South Dakota Statutes
§ 51A-12-5 — Discounting not considered as money borrowed for purposes of loan limitation.
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.
Free access — add to your briefcase to read the full text and ask questions with AI
South Dakota § 51A-12-5 (Discounting not considered as money borrowed for purposes of loan limitation.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
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.