South Dakota § 54-4-37.1 Exemption for originating, selling, servicing, or acquiring five or fewer loans in twelve-month period where total of outstanding loans under certain amount--Annual report.

South Dakota Statutes

§ 54-4-37.1 — Exemption for originating, selling, servicing, or acquiring five or fewer loans in twelve-month period where total of outstanding loans under certain amount--Annual report.

South Dakota § 54-4-37.1

Title 54DEBTOR AND CREDITOR

Ch. 54-3AMONEY LENDING LICENSES

This text of South Dakota § 54-4-37.1 (Exemption for originating, selling, servicing, or acquiring five or fewer loans in twelve-month period where total of outstanding loans under certain amount--Annual report.) 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 § 54-4-37.1 (2026).

Text

Any person who, on, before, or after July 1, 2017, originates, sells, services, or acquires five or fewer loans in a twelve-month period is exempt from this chapter, except for the provisions of chapter 10-43 as referenced in § 54-4-54 , as long as the total amount of the loans outstanding does not exceed four million dollars. The exemption under this section applies jointly to every entity in which a person has an equity interest, whether the loan or loans are made by that person or through an entity in which the person holds an equity interest. Any person exempted by the provisions of this section shall report to the division annually, no later than December thirty-first of 2017, and every subsequent year for any year in which loans are originated, sold, serviced, or acquired. The annual

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Any person who, on, before, or after July 1, 2017, originates, sells, services, or acquires five or fewer loans in a twelve-month period is exempt from this chapter, except for the provisions of chapter 10-43 as referenced in § 54-4-54 , as long as the total amount of the loans outstanding does not exceed four million dollars. The exemption under this section applies jointly to every entity in which a person has an equity interest, whether the loan or loans are made by that person or through an entity in which the person holds an equity interest. Any person exempted by the provisions of this section shall report to the division annually, no later than December thirty-first of 2017, and every subsequent year for any year in which loans are originated, sold, serviced, or acquired. The annual report shall contain the name and address of the person who originated, sold, serviced, or acquired loans, the number of loans originated, sold, serviced, or acquired in the preceding calendar year, and the total balance of all loans originated, sold, serviced, or acquired.