54-4-76. Loans by unlicensed lenders uncollectible except for principal.
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/sd/title-54/chapter-54-4/54-4-76A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Any loan made in South Dakota after June 30, 2015, to a resident of South Dakota, by an entity organized to engage in the business of lending money not licensed or exempt from licensure pursuant to this chapter is unenforceable and uncollectible except as to any principal extended by the entity to the borrower.