South Dakota Statutes
§ 54-3-1 — Interest defined.
Interest is the compensation allowed by law for the use, or forbearance, or detention of money or its equivalent, including without limitation, points, loan origination fees, credit service or carrying charges, charges for unanticipated late payments, and any other charges, direct or indirect, as an incident to or as a condition of the extension of credit. These charges do not include charges made by a third party.
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Related
Sander v. Geib, Elston, Frost Professional Ass'n
506 N.W.2d 107 (South Dakota Supreme Court, 1993)
State Ex Rel. Meierhenry v. Spiegel, Inc.
277 N.W.2d 298 (South Dakota Supreme Court, 1979)
Rollinger v. JC Penney Company
192 N.W.2d 699 (South Dakota Supreme Court, 1971)
Legislative History
CivC 1877, § 1095; CL 1887, § 3718; RCivC 1903, § 1414; RC 1919, § 1037; SDC 1939, § 38.0103; SL 1987, ch 360, § 3.
Nearby Sections
15
§ 54-1-2
Loan of money defined.§ 54-1-6
"Open account" defined.§ 54-1-7
Open account--Interest rates.§ 54-1-9
"Securitization" defined.§ 54-10-1
Definition of terms.§ 54-10-10
Value of security, determination by liquidator's sale of assets--Order of sale, requirements.§ 54-10-13
Uniformity of interpretation of chapter.