§ 54-4-36 Definition of terms
§ 54-4-37 Entities exempt from chapter provisions
§ 54-4-37.1 Exemption for originating, selling, servicing, or acquiring five or fewer loans in twelve-month period where total of outstanding loans under certain amount–Annual report
§ 54-4-38 Promulgation of rules
§ 54-4-39 Compliance with Title 53
§ 54-4-40 Application for license–Licensure through nationwide mortgage licensing system–Public records–Exemptions
§ 54-4-41 Rejection or acceptance of application by director
§ 54-4-42 Bond to be filed with application
§ 54-4-43 Investigation of facts concerning license application–Requirements for grant of license
§ 54-4-44 Engaging in business after procurement of license–Maximum finance charge–Violation as misdemeanor–Loan void
§ 54-4-44.1 Device, subterfuge, or pretense to evade maximum finance charge prohibited–Penalties
§ 54-4-44.2 Motor vehicle purchase loan–Fees incident to extension of credit
§ 54-4-44.3 Consumer default–Fees incident to extension of credit
§ 54-4-44.4 Business-to-business lending exempt
§ 54-4-45 Duration of license–Renewal
§ 54-4-46 Transfer of license–Approval required for name change
§ 54-4-47 Location to be licensed–Change of location
§ 54-4-47.1 Remote work–Requirements
§ 54-4-48 Cease and desist order for practice not in conformity to requirements–Appeal
§ 54-4-49 Conditions, denial, nonrenewal, suspension, or revocation of license
§ 54-4-50 Injunction against licensee for violation
§ 54-4-51 Court-appointed receivership
§ 54-4-52 License required
§ 54-4-53 Deposit of funds
§ 54-4-54 Payment of annual tax–Exemption
§ 54-4-55 Exemption from other taxes
§ 54-4-56 Renewal of application–Tax information–Forms
§ 54-4-57 Examination of records–Costs–Information–Forms–Application of other provisions
§ 54-4-58 Information required in contract
§ 54-4-59 Property insurance required
§ 54-4-60 Purchase of insurance not condition to receive loan
§ 54-4-61 Copy provided to debtor
§ 54-4-62 Satisfaction of loan–Release of assignments
§ 54-4-63 Advertising
§ 54-4-64 Application of chapter
§ 54-4-65 Limitation on renewal, rollover, or flip of short-term consumer loan–Fee
§ 54-4-66 Maximum amount of payday loan–Violation as misdemeanor
§ 54-4-67 Production of records located outside state–Alternate procedures–Designated record inspectors
§ 54-4-68 Appointment of resident agent for service of process–Notice
§ 54-4-69 Consent to be sued–Form
§ 54-4-70 Title loans to be evidenced by written agreement–Possession of certification of title–Application of statutes on secured transactions
§ 54-4-71 Term of title loan–Renewal–Payment amounts–Deferred principal amount
§ 54-4-72 Default in repayment of title loan–Remedy–Exception–Sale of reposed vehicle–Refund of surplus less expenses
§ 54-4-73 Debt cancellation contract defined
§ 54-4-74 Debt suspension contract defined
§ 54-4-75 Debt cancellation contracts and debt suspension contracts permitted
§ 54-4-76 Loans by unlicensed lenders uncollectible except for principal
§ 54-4-77 Debt collection–Prohibitions
§ 54-4-77.1 Exemptions not applicable to prohibited debt-collection tactics
§ 54-4-78 Use of nationwide mortgage licensing system and registry for requesting and distributing information
§ 54-4-79 Contracts for collection and maintenance of records and processing of fees
§ 54-4-80 Sharing of information collected by director
§ 54-4-81 Attorney’s fees recoverable if provided for in evidence of debt
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Terms Used In South Dakota Codified Laws > Title 54 > Chapter 4 - Money Lending Licenses

  • Annual percentage rate: The cost of credit at a yearly rate. It is calculated in a standard way, taking the average compound interest rate over the term of the loan so borrowers can compare loans. Lenders are required by law to disclose a card account's APR. Source: FDIC
  • Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • 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
  • Contract: A legal written agreement that becomes binding when signed.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
  • Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Family member: includes an immediate family member as the term is defined in §. See South Dakota Codified Laws 54-4-36
  • Fiduciary: A trustee, executor, or administrator.
  • Fraud: Intentional deception resulting in injury to another.
  • Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
  • Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Mortgage loan: A loan made by a lender to a borrower for the financing of real property. Source: OCC
  • National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Oversight: Committee review of the activities of a Federal agency or program.
  • Person: includes natural persons, partnerships, associations, cooperative corporations, limited liability companies, and corporations. See South Dakota Codified Laws 2-14-2
  • Property: includes property, real and personal. See South Dakota Codified Laws 2-14-2
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Service of process: The service of writs or summonses to the appropriate party.
  • Statute: A law passed by a legislature.
  • Subpoena: A command to a witness to appear and give testimony.
  • written: include typewriting and typewritten, printing and printed, except in the case of signatures, and where the words are used by way of contrast to typewriting and printing. See South Dakota Codified Laws 2-14-2