The provisions of 12 U.S.C. §§ 1735f7, 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.

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Terms Used In South Dakota Codified Laws 54-3-15

  • Usury: Charging an illegally high interest rate on a loan. Source: OCC

Source: SL 1981, ch 351.