South Dakota Codified Laws 54-4-52. License required
Current as of: 2023 | Check for updates
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No person may engage in the business of lending money without a license. A violation of this section is a Class 1 misdemeanor.
Attorney's Note
Under the South Dakota Laws, punishments for crimes depend on the classification. In the case of this section:| Class | Prison | Fine |
|---|---|---|
| Class 1 misdemeanor | up to 1 year | up to $2,00 |
Terms Used In South Dakota Codified Laws 54-4-52
- Business of lending money: includes the originating, selling, servicing, acquiring, or purchasing of any loan involving a borrower who is a person other than a family member, or the servicing, acquiring, or purchasing of a retail installment contract a party to which is a person other than a family member. See South Dakota Codified Laws 54-4-36
- Person: includes natural persons, partnerships, associations, cooperative corporations, limited liability companies, and corporations. See South Dakota Codified Laws 2-14-2
Source: SL 1998, ch 280, § 17.