South Dakota § 54-3A-7 - Modification of agreement to increase outstanding obligation prohibited--Exception.
Full text of South Dakota South Dakota Codified Laws § 54-3A-7 — Modification of agreement to increase outstanding obligation prohibited--Exception., with citation guidance and answers to common questions.
§ 54-3A-7. Modification of agreement to increase outstanding obligation prohibited--Exception.
Except as provided in this section, no creditor shall modify the terms of any agreement with a consumer with respect to any outstanding obligation of the consumer, which results in an increase of the rate of the finance or other charges or an increase in the amount of an installment or periodic payment due, or which otherwise adversely affects the interest of the consumer. A modification agreed to by the parties which applies to obligations incurred by the consumer after the agreement for modification is permissible.
Source: SL 1974, ch 305, § 6.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 54-3A-7
What does South Dakota Codified Laws § 54-3A-7 cover?
Section 54-3A-7 ("Modification of agreement to increase outstanding obligation prohibited--Exception.") 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 § 54-3A-7?
A common citation format is "South Dakota Codified Laws § 54-3A-7" (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 § 54-3A-7 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.