South Dakota § 54-4-74 - Debt suspension contract defined.
Full text of South Dakota South Dakota Codified Laws § 54-4-74 — Debt suspension contract defined., with citation guidance and answers to common questions.
§ 54-4-74. Debt suspension contract defined.
For the purposes of this chapter, the term, debt suspension contract, means a term of an extension of credit or contractual arrangement modifying terms of an extension of credit under which a licensee agrees to suspend all or part of a customer's obligation to repay an extension of credit from the licensee upon the occurrence of a specified event. The contract may be separate from or a part of other extension of credit documents. The term does not include installment payment deferral arrangements in which the triggering event is the customer's unilateral election to defer repayment, or the licensee's unilateral decision to allow a deferral of repayment.
Source: SL 2012, ch 235, § 3.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 54-4-74
What does South Dakota Codified Laws § 54-4-74 cover?
Section 54-4-74 ("Debt suspension contract defined.") 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 § 54-4-74?
A common citation format is "South Dakota Codified Laws § 54-4-74" (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 § 54-4-74 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.