South Dakota Codified Laws 44-9-6.1. Interest on amounts secured by liens
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The interest payable on amounts secured by mechanics’ or materialmen’s liens shall be at the maximum interest rate allowed in § 54-3-5.1.
Terms Used In South Dakota Codified Laws 44-9-6.1
- Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
Source: SL 1979, ch 294, § 2; SL 1982, ch 28, § 14.