South Dakota § 54-11-6.2 - Amount of service charge--Requirements--Compounding charge.
Full text of South Dakota South Dakota Codified Laws § 54-11-6.2 — Amount of service charge--Requirements--Compounding charge., with citation guidance and answers to common questions.
§ 54-11-6.2. Amount of service charge--Requirements--Compounding charge.
A charge may be made in each billing cycle which is a percentage of an amount no greater than the average daily balance of the account, the unpaid balance of the account on approximately the same day of the billing cycle or the median amount within a specified range within which the average daily balance or the unpaid balance of the account, on approximately the same day of the billing cycle, is included. A charge may be made pursuant to this section only if the same charge is applied to all balances within the specified range and if the percentage when applied to the median amount within the range does not produce a charge exceeding the charge resulting from applying that percentage to the lowest amount within the range by more than eight percent of the charge on the median amount. This charge may be compounded.
Source: SL 1979, ch 335, § 4.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 54-11-6.2
What does South Dakota Codified Laws § 54-11-6.2 cover?
Section 54-11-6.2 ("Amount of service charge--Requirements--Compounding charge.") is part of the South Dakota Codified Laws, the codified statutory law of South Dakota. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite South Dakota § 54-11-6.2?
A common citation format is "South Dakota Codified Laws § 54-11-6.2" (South Dakota). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of South Dakota law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the South Dakota official source linked on this page or consult a licensed South Dakota attorney.
How does South Dakota § 54-11-6.2 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in South Dakota can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in South Dakota.