2011 South Dakota Code
Title 51A BANKS AND BANKING
Chapter 12. Bank Loans
§51A-12-5 Discounting not considered as money borrowed for purposes of loan limitation.

51A-12-5. Discounting not considered as money borrowed for purposes of loan limitation. For the purposes of § 51A-12-2, the discount of bills of exchange drawn in good faith against actual existing values, and the discount of commercial paper actually owned by the person negotiating the same shall not be considered as money borrowed.

Source: SL 1909, ch 222, art 2, § 29; SL 1915, ch 102, art 2, § 33; RC 1919, § 8980; SL 1923, ch 114; SL 1927, ch 59, § 1; SDC 1939, § 6.0428; SL 1943, ch 18; SL 1947, ch 27; SL 1957, ch 14; SL 1961, ch 19; SL 1963, ch 27; SDCL, § 51-11-9; SL 1969, ch 11, § 10.3; SDCL, § 51-24-5.