South Dakota Codified Laws 58-27-41. Maximum loan on security of real property–Misdemeanor
Current as of: 2023 | Check for updates
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An insurer shall not make or acquire a loan or loans upon the security of any one parcel of real property in aggregate amount in excess of ten thousand dollars or more than the amount permissible under § 58-27-53, whichever is the greater. Violation of this section is a Class 2 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 2 misdemeanor | up to 30 days | up to $500 |
Terms Used In South Dakota Codified Laws 58-27-41
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
Source: SL 1966, ch 111, ch 6, § 26 (2); SL 1978, ch 359, § 2.