2019 South Dakota Codified Laws
Title 54 - Debtor and Creditor
Chapter 04 - Money Lending Licenses
§ 54-4-44.4 Business-to-business lending exempt.
54-4-44.4. Business-to-business lending exempt. The provisions of § 54-4-44 that place limitations on licensees that are engaged in the business of making loans do not apply to a licensee engaged in business-to-business lending. For purposes of this section, the term, business-to-business lending, means any lending to or in furtherance of a business, commercial, or agricultural venture that is not for personal, family, or household use and is not secured by a nonpurchase money security interest in a motor vehicle. Any business-to-business lending subject to the provisions of this section shall be in an amount not less than five thousand dollars and only to a borrower with a federal employer identification number.
Source: SL 2017, ch 206, § 1; SL 2018, ch 272, § 1.
