South Dakota Statutes
§ 54-3-13 — Regulated lenders exempt from interest rate limitations and usury statutes.
Regulated lenders are exempt from all limitations on the rate of interest which they may charge and are further exempt from the operation and effect of all usury statutes, except as is otherwise provided in § 54-3-14 . Regulated lenders and their assignees are further exempt from the prohibition, operation, and effect of § 15-17-39 , and regulated lenders and their assignees may recover reasonable attorney's fees in the case of default of payment if provided for in the note, bond, mortgage, or other evidence of debt.
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South Dakota § 54-3-13 (Regulated lenders exempt from interest rate limitations and usury statutes.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Related
U.S. Bank National Ass'n v. Scott
2003 SD 149 (South Dakota Supreme Court, 2003)
Legislative History
SL 1980, ch 335, § 2; SL 1996, ch 283.
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.