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2015 South Dakota Codified Laws
Title 54 - DEBTOR AND CREDITOR
Chapter 04 - Money Lending Licenses
§ 54-4-66 Maximum amount of payday loan--Violation as misdemeanor.

SD Codified L § 54-4-66 (2015) What's This?

54-4-66. Maximum amount of payday loan--Violation as misdemeanor.

The maximum principal amount of any payday loan, or the total outstanding principal balances of all payday loans made by a licensee to a single borrower, may not exceed five hundred dollars at any time. A violation of this section is a Class 1 misdemeanor.

Source: SL 2002, ch 223, § 2; SL 2004, ch 291, § 3; SL 2007, ch 278, § 1.

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