South Dakota Statutes
§ 54-3A-8 — Rule for computing refund of charges on prepayment.
South Dakota § 54-3A-8
This text of South Dakota § 54-3A-8 (Rule for computing refund of charges on prepayment.) 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 § 54-3A-8 (2026).
Text
As used in this chapter, unless the context otherwise requires, "Rule of 78" means a refund of charges which shall be at least as great a proportion of the total charges, as the sum of the remaining monthly balances of principal and interest combined scheduled to follow the date of prepayment bears to the sum of all the monthly balances of principal and interest combined originally scheduled by the loan agreement.
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Legislative History
SL 1974, ch 305, § 1 (9).
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.Cite This Page — Counsel Stack
Bluebook (online)
South Dakota § 54-3A-8, Counsel Stack Legal Research, https://law.counselstack.com/statute/sd/54-3A-8.