SD

South Dakota State Information

Legal Status: Permitted under small loan act or licensing law

Citation:
S.D. Codified Laws 54-4-36 et seq.

Loan Terms:
Maximum Loan Amount: $500
Loan Term: Not Specified
Maximum Finance Rate and Fees: Not Specified
Finance Charge for 14-day $100 loan: No Limit
APR for 14-day $100 loan: No Limit

Debt Limits:
Maximum Number of Outstanding Loans at One Time: Not Specified
Rollovers Permitted: Four (licensee can renew, rollover or flip loan if debtor pays outstanding fee each time)
Cooling-off Period:
Repayment Plan:

Collection Limits:
Collection Fees: Not Specified
Criminal Action: Not Specified

Where to Complain, Get Information:
Regulator: South Dakota Division of Banking
Address: 1601 N. Harrison Ave., Suite 1
Phone: (605) 773-3421
Fax: (866) 326-7504
Regulator Website