South Dakota Statutes
§ 54-4-76 — Loans by unlicensed lenders uncollectible except for principal.
Any loan made in South Dakota after June 30, 2015, to a resident of South Dakota, by an entity organized to engage in the business of lending money not licensed or exempt from licensure pursuant to this chapter is unenforceable and uncollectible except as to any principal extended by the entity to the borrower.
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South Dakota § 54-4-76 (Loans by unlicensed lenders uncollectible except for principal.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Related
Hardes Holding, LLC v. Sandton Credit Solutions Master Fund III, LP
(D. South Dakota, 2019)
Legislative History
SL 2015, ch 242, § 5.
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.