South Dakota § 54-3-4 - Maximum rate of interest where no rate specified--Commencement where date not specified.
Full text of South Dakota South Dakota Codified Laws § 54-3-4 — Maximum rate of interest where no rate specified--Commencement where date not specified., with citation guidance and answers to common questions.
§ 54-3-4. Maximum rate of interest where no rate specified--Commencement where date not specified.
Under an obligation to pay interest, no rate being specified, interest is payable from date of incurrence of debt, unless the parties have otherwise agreed, at a maximum rate of the Category C rate of interest as established in § 54-3-16, and in the like proportion for a longer or shorter term. In the computation of interest for less than a year, three hundred sixty days are deemed to constitute a year.
Source: CivC 1877, § 1097; CL 1887, § 3720; RCivC 1903, § 1416; RC 1919, § 1039; SL 1933, ch 123, § 1; SDC 1939, § 38.0108; SL 1980, ch 336, § 1; SL 1982, ch 341, § 2; SL 1984, ch 319, § 34.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 54-3-4
What does South Dakota Codified Laws § 54-3-4 cover?
Section 54-3-4 ("Maximum rate of interest where no rate specified--Commencement where date not specified.") 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 § 54-3-4?
A common citation format is "South Dakota Codified Laws § 54-3-4" (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 § 54-3-4 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.