South Dakota § 54-3-4 Maximum rate of interest where no rate specified--Commencement where date not specified.

South Dakota Statutes

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

South Dakota § 54-3-4

Title 54DEBTOR AND CREDITOR

Ch. 54-2INTEREST AND USURY

This text of South Dakota § 54-3-4 (Maximum rate of interest where no rate specified--Commencement where date not specified.) 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 § 54-3-4 (2026).

Text

Under an obligation to pay interest, no rate being specified, interest is payable from date of incurrence of debt, unless the parties have otherwise agreed, at a maximum rate of the Category C rate of interest as established in § 54-3-16 , and in the like proportion for a longer or shorter term. In the computation of interest for less than a year, three hundred sixty days are deemed to constitute a year.

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Under an obligation to pay interest, no rate being specified, interest is payable from date of incurrence of debt, unless the parties have otherwise agreed, at a maximum rate of the Category C rate of interest as established in § 54-3-16 , and in the like proportion for a longer or shorter term. In the computation of interest for less than a year, three hundred sixty days are deemed to constitute a year.

Legislative History

CivC 1877, § 1097; CL 1887, § 3720; RCivC 1903, § 1416; RC 1919, § 1039; SL 1933, ch 123, § 1; SDC 1939, § 38.0108; SL 1980, ch 336, § 1; SL 1982, ch 341, § 2; SL 1984, ch 319, § 34.