reglab/housing_qa huggingface dataset:
SD Codified L § 53-12-47 (2021)
2021 South Dakota Codified Laws|Title 53 - Contracts|Chapter 12 - Electronic Transactions|Section 53-12-47 - Commissioner to promulgate rules for state agencies using electronic records and signatures.

53-12-47. Commissioner to promulgate rules for state agencies using electronic records and signatures.To the extent that a governmental agency uses electronic records and electronic signatures under this chapter, the commissioner of the Bureau of Information and Telecommunications shall promulgate rules pursuant to chapter 1-26 to specify for state agencies:(1)The manner and format in which the electronic records shall be created, generated, sent, communicated, received, and stored and the systems established for those purposes;(2)If electronic records must be signed by electronic means, the type of electronic signature required, the manner and format in which the electronic signature must be affixed to the electronic record, and the identity of, or criteria that must be met by, any third party used by a person filing a document to facilitate the process;(3)Control processes and procedures as appropriate to ensure adequate preservation, disposition, integrity, security, confidentiality, and auditability of electronic records; and(4)Any other required attributes for electronic records which are specified for corresponding nonelectronic records or reasonably necessary under the circumstances. Source: SL 2000, ch 225, §47.
SD Codified L § 53-12-48 (2021)
2021 South Dakota Codified Laws|Title 53 - Contracts|Chapter 12 - Electronic Transactions|Section 53-12-48 - Board of Regents to determine extent to which electronic records and signatures will be used.

53-12-48. Board of Regents to determine extent to which electronic records and signatures will be used.With respect to records under its control, and except as otherwise provided in §53-12-30, the Board of Regents shall determine whether, and the extent to which, the board and the institutions under the board's control shall send and accept electronic records and electronic signatures to and from other persons and otherwise create, generate, communicate, store, process, use, and rely upon electronic records and electronic signatures. In administering such records, the board may exercise those powers specified in §§53-12-47 and 53-12-50. However, any public records as defined in §13-49-31 that the board elects to maintain in electronic form shall be accessible to the public in conformity with the rules the commissioner of the Bureau of Information and Telecommunications promulgates pursuant to §§53-12-47 and 53-12-50. Source: SL 2000, ch 225, §48.
SD Codified L § 53-12-49 (2021)
2021 South Dakota Codified Laws|Title 53 - Contracts|Chapter 12 - Electronic Transactions|Section 53-12-49 - Use of electronic records or signatures by government agencies not mandated.

53-12-49. Use of electronic records or signatures by government agencies not mandated.Except as otherwise provided in §53-12-30, this chapter does not require a governmental agency to use or permit the use of electronic records or electronic signatures. Source: SL 2000, ch 225, §49.
SD Codified L § 53-12-50 (2021)
2021 South Dakota Codified Laws|Title 53 - Contracts|Chapter 12 - Electronic Transactions|Section 53-12-50 - Commissioner authorized to promote consistency and interoperability.

53-12-50. Commissioner authorized to promote consistency and interoperability.The commissioner of the Bureau of Information and Telecommunications may encourage and promote consistency and interoperability with similar requirements adopted by other governmental agencies of this and other states and the federal government and nongovernmental persons interacting with governmental agencies of this state . If appropriate, those standards may specify differing levels of standards from which governmental agencies of this state may choose in implementing the most appropriate standard for a particular application. Source: SL 2000, ch 225, §50.
SD Codified L § 54-1-1 (2021)
2021 South Dakota Codified Laws|Title 54 - Debtor and Creditor|Chapter 01 - Definitions And General Provisions|Section 54-1-1 - Definition of terms--Debtor--Creditor.

54-1-1. Definition of terms--Debtor--Creditor.Terms used in this chapter and chapter 54-8 are defined as follows, unless the context otherwise plainly requires:(1)"Creditor," is one in whose favor an obligation exists by reason of which he is, or may become, entitled to the payment of money;(2)"Debtor," one who, by reason of an existing obligation is, or may become liable to pay money to another, whether such liability is certain or contingent. Source: CivC 1877, §§2018, 2019; CL 1887, §§4651, 4652; RCivC 1903, §§2363, 2364; RC 1919, §§2036, 2037; SDC 1939, §23.0101.
SD Codified L § 54-1-2 (2021)
2021 South Dakota Codified Laws|Title 54 - Debtor and Creditor|Chapter 01 - Definitions And General Provisions|Section 54-1-2 - Loan of money defined.

54-1-2. Loan of money defined.A loan of money is a contract by which one delivers a sum of money to another, and the latter agrees to return at a future time a sum equivalent to that which he borrowed. Source: CivC 1877, §1092; CL 1887, §3715; RCivC 1903, §1411; RC 1919, §1034; SDC 1939, §38.0101.
SD Codified L § 54-1-3 (2021)
2021 South Dakota Codified Laws|Title 54 - Debtor and Creditor|Chapter 01 - Definitions And General Provisions|Section 54-1-3 - Debtor's contract valid in the absence of fraud.

54-1-3. Debtor's contract valid in the absence of fraud.In the absence of fraud every contract of a debtor is valid against all his creditors, existing or subsequent, who have not acquired a lien on the property affected by such contract. Source: CivC 1877, §2020; CL 1887, §4653; RCivC 1903, §2365; RC 1919, §2038; SDC 1939, §23.0102.
SD Codified L § 54-1-4 (2021)
2021 South Dakota Codified Laws|Title 54 - Debtor and Creditor|Chapter 01 - Definitions And General Provisions|Section 54-1-4 - Preference of creditors by debtor.

54-1-4. Preference of creditors by debtor.A debtor may pay one creditor in preference to another, or may give to one creditor security for the payment of his demand in preference to another. Source: CivC 1877, §2021; CL 1887, §4654; RCivC 1903, §2366; RC 1919, §2039; SDC 1939, §23.0103.
SD Codified L § 54-1-5 (2021)
2021 South Dakota Codified Laws|Title 54 - Debtor and Creditor|Chapter 01 - Definitions And General Provisions|Section 54-1-5 - Marshaling of funds--Rights of creditor.

54-1-5. Marshaling of funds--Rights of creditor.Where a creditor is entitled to resort to each of several funds for the satisfaction of his claim, and another person has an interest in or is entitled as a creditor to resort to some but not all of them, the latter may require the former to seek satisfaction from those funds to which the latter has no such claim so far as it can be done without impairing the right of the former to complete satisfaction, and without doing injustice to third persons. Source: CivC 1877, §2022; CL 1887, §4655; RCivC 1903, §2367; RC 1919, §2040; SDC 1939, §23.0104.
SD Codified L § 54-1-6 (2021)
2021 South Dakota Codified Laws|Title 54 - Debtor and Creditor|Chapter 01 - Definitions And General Provisions|Section 54-1-6 - "Open account" defined.

54-1-6."Open account" defined.The term "open account," as used in this title, means an account, usually retail in nature, under which the creditor permits the customer to make purchases or obtain loans, from time to time, directly from the creditor or indirectly by use of a check or other device as the conditions of the account may provide. The customer has the privilege of paying the balance in full or in installments and an interest charge may be computed by the creditor from time to time on the outstanding unpaid balance and added to that balance. "Open account" does not include those accounts covered in chapter 54-11, or revolving loan accounts authorized by §51A-12-12. Source: SL 1982, ch 340, §1.
SD Codified L § 54-1-7 (2021)
2021 South Dakota Codified Laws|Title 54 - Debtor and Creditor|Chapter 01 - Definitions And General Provisions|Section 54-1-7 - Open account--Interest rates.

54-1-7. Open account--Interest rates.Interest rates on open accounts, as defined in §54-1-6, are subject to the provisions regarding interest rates in chapter 54-3. Source: SL 1982, ch 340, §2.
SD Codified L § 54-1-8 (2021)
2021 South Dakota Codified Laws|Title 54 - Debtor and Creditor|Chapter 01 - Definitions And General Provisions|Section 54-1-8 - Open account--Notice of interest rate increase.

54-1-8. Open account--Notice of interest rate increase.Prior to increasing interest rates on open accounts, a creditor shall notify all customers having open accounts thirty days in advance of the increase. The notification shall clearly state the new interest rate, the effective date of the new interest rate and that the customer either may continue to pay the account in installments at the existing rate without further use of the account after the effective date of the new rate, or the customer may continue to use the account after the effective date of the rate increase with the unpaid outstanding balance on that date and all subsequent purchases or use of the account subject to the increased rate. Use of the account after the effective date of the interest rate increase is deemed to be an acceptance of the increased rate by the customer. Source: SL 1982, ch 340, §3.
SD Codified L § 54-1-9 (2021)
2021 South Dakota Codified Laws|Title 54 - Debtor and Creditor|Chapter 01 - Definitions And General Provisions|Section 54-1-9 - "Securitization" defined.

54-1-9."Securitization" defined.For purposes of §§54-1-9 and 54-1-10, a securitization is the pooling and repackaging by a special purpose entity of assets or other credit exposures that can be sold to investors. Securitization includes transactions that create stratified credit risk positions whose performance is dependent upon an underlying pool of credit exposures, including loans and commitments. Source: SL 2003, ch 241, §1.
SD Codified L § 54-2-1 (2021)
2021 South Dakota Codified Laws|Title 54 - Debtor and Creditor|Chapter 02 - Payment Of Debts|Section 54-2-1 - Payment defined.

54-2-1. Payment defined.Performance of an obligation for the delivery of money only, is called payment. Source: CivC 1877, §832; CL 1887, §3456; RCivC 1903, §1149; RC 1919, §756; SDC 1939, §47.0206.
SD Codified L § 54-2-2 (2021)
2021 South Dakota Codified Laws|Title 54 - Debtor and Creditor|Chapter 02 - Payment Of Debts|Section 54-2-2 - Repayment of loan in current funds.

54-2-2. Repayment of loan in current funds.A borrower of money must pay the amount due in such money as is current at the time when the loan becomes due, whether such money is worth more or less than the actual money lent. Source: CivC 1877, §1093; CL 1887, §3716; RCivC 1903, §1412; RC 1919, §1035; SDC 1939, §38.0102.
SD Codified L § 54-2-4 (2021)
2021 South Dakota Codified Laws|Title 54 - Debtor and Creditor|Chapter 02 - Payment Of Debts|Section 54-2-4 - Obligation for payment extinguished by tender and deposit in state bank.

54-2-4. Obligation for payment extinguished by tender and deposit in state bank.An obligation for the payment of money is extinguished by a due offer of payment, if the amount is immediately deposited in the name of the creditor with some bank of deposit within this state, of good repute, and notice thereof is given to the creditor. Source: CivC 1877, §849; CL 1887, §3473; RCivC 1903, §1166; RC 1919, §773; SDC 1939, §47.0209.
SD Codified L § 54-3-1 (2021)
2021 South Dakota Codified Laws|Title 54 - Debtor and Creditor|Chapter 03 - Interest And Usury|Section 54-3-1 - Interest defined.

54-3-1. Interest defined.Interest is the compensation allowed by law for the use, or forbearance, or detention of money or its equivalent, including without limitation, points, loan origination fees, credit service or carrying charges, charges for unanticipated late payments, and any other charges, direct or indirect, as an incident to or as a condition of the extension of credit. These charges do not include charges made by a third party. Source: CivC 1877, §1095; CL 1887, §3718; RCivC 1903, §1414; RC 1919, §1037; SDC 1939, §38.0103; SL 1987, ch 360, §3.
SD Codified L § 54-3-1.1 (2021)
2021 South Dakota Codified Laws|Title 54 - Debtor and Creditor|Chapter 03 - Interest And Usury|Section 54-3-1.1 - Rate of interest set by written agreement--No maximum or usury restriction.

54-3-1.1. Rate of interest set by written agreement--No maximum or usury restriction.Unless a maximum interest rate or charge is specifically established elsewhere in the code, there is no maximum interest rate or charge, or usury rate restriction between or among persons, corporations, limited liability companies, estates, fiduciaries, associations, or any other entities if they establish the interest rate or charge by written agreement. A written agreement is a document in writing, whether in physical or electronic form, in which the parties have demonstrated their agreement to the terms and conditions of an extension of credit, including the rate of interest. A written agreement includes the contract created by §54-11-9. Source: SL 1982, ch 341, §1; SL 1987, ch 360, §4; SL 1994, ch 351, §147; SL 2016, ch 229, §1.
SD Codified L § 54-3-2 (2021)
2021 South Dakota Codified Laws|Title 54 - Debtor and Creditor|Chapter 03 - Interest And Usury|Section 54-3-2 - Loan of money--Presumption as to interest.

54-3-2. Loan of money--Presumption as to interest.Whenever a loan of money is made it is presumed to be made upon interest, unless it is otherwise expressly stipulated at the time in writing. Source: CivC 1877, §1094; CL 1887, §3717; RCivC 1903, §1413; RC 1919, §1036; SDC 1939, §38.0104.
SD Codified L § 54-3-3 (2021)
2021 South Dakota Codified Laws|Title 54 - Debtor and Creditor|Chapter 03 - Interest And Usury|Section 54-3-3 - Annual rate of interest where not specified.

54-3-3. Annual rate of interest where not specified.When a rate of interest is prescribed by a law or contract, without specifying the period of time by which such rate is to be calculated, it is to be deemed an annual rate. Source: CivC 1877, §1096; CL 1887, §3719; RCivC 1903, §1415; RC 1919, §1038; SDC 1939, §38.0107.
SD Codified L § 54-3-4 (2021)
2021 South Dakota Codified Laws|Title 54 - Debtor and Creditor|Chapter 03 - Interest And Usury|Section 54-3-4 - Maximum rate of interest where no rate specified--Commencement where date not specified.

54-3-4. Maximum rate of interest where no rate specified--Commencement where date not specified.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. Source: 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.
SD Codified L § 54-3-5 (2021)
2021 South Dakota Codified Laws|Title 54 - Debtor and Creditor|Chapter 03 - Interest And Usury|Section 54-3-5 - Interest on moneys after they become due--Exception for express contracts or interest rate on bill, statement, or invoice--Limitation on interest rate.

54-3-5. Interest on moneys after they become due--Exception for express contracts or interest rate on bill, statement, or invoice--Limitation on interest rate.Unless there is an express contract in writing fixing a different rate or the interest rate clearly appears on the bill, statement, or invoice, interest is payable on all moneys at the Category F rate of interest as established in §54-3-16 after they become due on any instrument of writing, and on moneys lent, or due on any settlement of accounts, from the day on which the balance is ascertained, and on moneys received to the use of another and detained from that other. Any interest rate appearing on a bill, statement, or invoice may not exceed eighteen percent. Source: SDC 1939, §38.0109; SL 1972, ch 257; SL 1975, ch 297; SL 1980, ch 336, §2; SL 1981, ch 348; SL 1984, ch 319, §35; SL 1994, ch 366, §2; SL 2005, ch 255, §1.
SD Codified L § 54-3-5.1 (2021)
2021 South Dakota Codified Laws|Title 54 - Debtor and Creditor|Chapter 03 - Interest And Usury|Section 54-3-5.1 - Interest on judgments, statutory liens and inverse condemnations.

54-3-5.1. Interest on judgments, statutory liens and inverse condemnations.Interest is payable on all judgments and statutory liens, exclusive of real estate mortgages and security agreements under Title 57A, and exclusive of support debts or judgments under §25-7A-14, at the Category B rate of interest as established in §54-3-16 from and after the date of judgment and date of filing statutory lien. On all judgments arising from inverse condemnation actions, interest is payable at the Category A rate of interest as established by §54-3-16. Source: SL 1981, ch 349, §§1, 3; SL 1982, ch 341, §3; SL 1983, ch 361; SL 1984, ch 319, §31; SL 1986, ch 218, §69; SL 2003, ch 242, §1.
SD Codified L § 54-3-6 (2021)
2021 South Dakota Codified Laws|Title 54 - Debtor and Creditor|Chapter 03 - Interest And Usury|Section 54-3-6 - Legal rate of interest stipulated by contract after breach.

54-3-6. Legal rate of interest stipulated by contract after breach.Any legal rate of interest, stipulated by a contract, remains chargeable after a breach thereof, as before, until the contract is superseded by a verdict or other new obligation. Source: CivC 1877, §1102; CL 1887, §3725; RCivC 1903, §1421; RC 1919, §1045; SDC 1939, §38.0106.
SD Codified L § 54-3-8 (2021)
2021 South Dakota Codified Laws|Title 54 - Debtor and Creditor|Chapter 03 - Interest And Usury|Section 54-3-8 - Interest on loan--Advance deduction.

54-3-8. Interest on loan--Advance deduction.The interest which would become due at the end of the term for which a loan is made, not exceeding one year's interest in all, may be deducted from the loan in advance if the parties thus agree. Source: CivC 1877, §1099; CL 1887, §3722; RCivC 1903, §1418; RC 1919, §1043; SDC 1939, §38.0105.
SD Codified L § 54-3-13 (2021)
2021 South Dakota Codified Laws|Title 54 - Debtor and Creditor|Chapter 03 - Interest And Usury|Section 54-3-13 - Regulated lenders exempt from interest rate limitations and usury statutes.

54-3-13. Regulated lenders exempt from interest rate limitations and usury statutes.Regulated lenders are exempt from all limitations on the rate of interest which they may charge and are further exempt from the operation and effect of all usury statutes, except as is otherwise provided in §54-3-14. Regulated lenders and their assignees are further exempt from the prohibition, operation, and effect of §15-17-39, and regulated lenders and their assignees may recover reasonable attorney's fees in the case of default of payment if provided for in the note, bond, mortgage, or other evidence of debt. Source: SL 1980, ch 335, §2; SL 1996, ch 283.
SD Codified L § 54-3-14 (2021)
2021 South Dakota Codified Laws|Title 54 - Debtor and Creditor|Chapter 03 - Interest And Usury|Section 54-3-14 - Regulated lenders defined.

54-3-14. Regulated lenders defined. The term, regulated lenders, as used in §54-3-13 means:(1)A bank organized pursuant to chapter 51A-1, et seq.;(2)A bank organized pursuant to 12 U.S.C. §21;(3)A trust company organized pursuant to chapter 51A-6A;(4)A savings and loan association organized pursuant to chapter 52-1, et seq.;(5)A savings and loan association organized pursuant to 12 U.S.C. §1464;(6)Any wholly owned subsidiary of a state or federal bank or savings and loan association which subsidiary is subject to examination by the comptroller of the currency, or the federal reserve system, or the South Dakota Division of Banking, or the federal home loan bank board and which subsidiary has been approved by the United States secretary of housing and urban development for participation in any mortgage insurance program under the National Housing Act;(7)A federal land bank organized pursuant to 12 U.S.C. §2011;(8)A federal land bank association organized pursuant to 12 U.S.C. §2031;(9)A production credit association organized pursuant to 12 U.S.C. §2091;(10)A federal intermediate credit bank organized pursuant to 12 U.S.C. §2071;(11)An agricultural credit corporation or livestock loan company or its affiliate, the principal business of which corporation is the extension of short and intermediate term credit to farmers and ranchers;(12)A federal credit union organized pursuant to 12 U.S.C. §1753;(13)A federal financing bank organized pursuant to 12 U.S.C. §2283;(14)A federal home loan bank organized pursuant to 12 U.S.C. §1423, et seq.;(15)A national consumer cooperative bank organized pursuant to 12 U.S.C. §3011;(16)A bank for cooperatives organized pursuant to 12 U.S.C. §2121;(17)Bank holding companies organized pursuant to 12 U.S.C. §1841, et seq.;(18)National Homeownership Foundation organized pursuant to 12 U.S.C. §1701y;(19)Farmers Home Administration as provided by 7 U.S.C. §1981;(20)Small Business Administration as provided by 15 U.S.C. §633;(21)Government National Mortgage Association and Federal National Mortgage Association as provided by 12 U.S.C. §1717;(22)South Dakota Housing Development Authority as provided by chapter 11-11;(23)Insurance companies, whether domestic or foreign, authorized to do business in this state, and which as a part of their business engage in mortgage lending in this state. However, §54-3-13 does not exempt insurance companies from the provisions of §58-15-15.8; or(24)Any wholly owned service corporation subsidiary of a domestic or foreign insurance company, authorized to do business in this state, and which subsidiary is subject to examination by the same insurance examiners as the parent company. Source: SL 1980, ch 335, §1; SL 1982, ch 342; SL 2017, ch 221 (Initiated Measure 21), §1, eff. Nov. 16, 2016; SL 2021, ch 203, § 28.
SD Codified L § 54-3-15 (2021)
2021 South Dakota Codified Laws|Title 54 - Debtor and Creditor|Chapter 03 - Interest And Usury|Section 54-3-15 - Exemption from federal preemption of state usury laws.

54-3-15.Exemption from federal preemption of state usury laws.The provisions of 12 U.S. C. 1735f-7, 12 U.S.C. 86a and 15 U.S.C. 687 in effect on December 31, 1980, which preempt state usury laws, do not apply to loans made in the state of South Dakota. Source: SL 1981, ch 351.
SD Codified L § 54-3-16 (2021)
2021 South Dakota Codified Laws|Title 54 - Debtor and Creditor|Chapter 03 - Interest And Usury|Section 54-3-16 - Official state interest rates.

54-3-16. Official state interest rates.The official state interest rates, as referenced throughout the South Dakota Codified Laws, are as follows:(1)Category A rate of interest is four and one-half percent per year;(2)Category B rate of interest is ten percent per year;(3)Category C rate of interest is twelve percent per year;(4)Category D rate of interest is one percent per month or fraction thereof;(5)Category E rate of interest is four percent per year;(6)Category F rate of interest is fifteen percent per year; and(7)Category G rate of interest is five-sixth percent per month or fraction thereof. Source: SL 1984, ch 319, §1; SL 1987, ch 362; SL 1994, ch 366, §1; SL 2000, ch 226, §1.
SD Codified L § 54-3-17 (2021)
2021 South Dakota Codified Laws|Title 54 - Debtor and Creditor|Chapter 03 - Interest And Usury|Section 54-3-17 - Recommendations for amendment of official rates.

54-3-17. Recommendations for amendment of official rates.The Division of Banking shall annually review current interest rates, which review shall take into account the national rate of inflation and the prime lending rate as well as other indices division personnel deem proper, and, if necessary, shall recommend amendments to §54-3-16 to the Legislature during regular session. Source: SL 1984, ch 319, §2.