State of South Dakota  
EIGHTY-THIRD SESSION
LEGISLATIVE ASSEMBLY, 2008  

166P0562   HOUSE BILL   NO.   1297  

Introduced by:     Representatives Cutler, Bradford, Brunner, Carson, Davis, Deadrick, DeVries, Dreyer, Elliott, Engels, Feinstein, Gassman, Gillespie, Gilson, Glenski, Gosch, Hackl, Halverson, Hargens, Haverly, Hills, Howie, Hunt, Jerke, Kirkeby, Krebs, Lucas, Lust, McLaughlin, Miles, Moore, Nelson, Noem, Novstrup (Al), Novstrup (David), Nygaard, Olson (Betty), Pederson (Gordon), Peters, Pitts, Putnam, Rausch, Rave, Rhoden, Sigdestad, Steele, Street, Thompson, Tidemann, Turbiville, Van Etten, Weems, Wick, and Willadsen and Senators McCracken, Abdallah, Albers, Bartling, Duenwald, Gant, Garnos, Gray, Greenfield, Hansen (Tom), Hanson (Gary), Hauge, Heidepriem, Hoerth, Hundstad, Hunhoff, Jerstad, Katus, Kloucek, Koetzle, Lintz, Maher, McNenny, Napoli, Nesselhuf, Olson (Ed), Peterson (Jim), Schmidt (Dennis), Smidt (Orville), Sutton, Turbak Berry, and Two Bulls
 

         FOR AN ACT ENTITLED, An Act to  provide a maximum finance charge for short-term consumer loans and title loans.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA:
     Section 1.  That § 54-4-44 be amended to read as follows:
     54-4-44.   After procuring such license from the Division of Banking, the licensee may engage in the business of making loans and may contract for and receive interest charges and other fees a finance charge at rates, amounts and, a rate, when expressed as an annual percentage rate, that does not exceed thirty-six percent. Any other terms shall be as agreed to by the parties which may be included in the principal balance of the loan and specified in the contract.

250 copies of this document were printed by the South Dakota
Legislative Research Council at a cost of $.04 per page.   		.
  		Insertions into existing statutes are indicated by underscores.
Deletions from existing statutes are indicated by overstrikes.