Statutes, codes, and regulations
South Dakota Codified Laws
Title 54 - DEBTOR AND CREDITOR
Chapter 4 - MONEY LENDING LICENSES
Section 54-4-76 - Loans by unlicensed lenders uncollectible except for principal

S.D. Codified Laws § 54-4-76

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Current through the 2024 Legislative Session
Section 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.

SDCL 54-4-76

SL 2012, ch 235, §5.
Added by S.L. 2015, ch. 242,s. 5, eff. 7/1/2015.