Consumer Credit Regulation: South Dakota
S.D. Codified Laws §§ 54-3A-1 to 54-3A-25 (Consumer Installment Sales Contracts).
Scope: Installment sales of goods or services for personal, family, or household use. § 54-3A-1.
Licensure requirements: None.
Credit terms: Rate agreed upon by the creditor and the consumer by written agreement. The finance charge is expressed and compounded in the same manner as an interest rate. § 54-3A-3.
Restrictions on points or prepaid interest: None.