S.D. Codified Laws § 54-3A-18
This is the official text of S.D. Codified Laws § 54-3A-18, part of South Dakota’s Codified Laws — part of the compiled statutory law of South Dakota, published by the state as "Codified Laws." Browse the sections below, each linked to its official government source.
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Refinancing agreement requirements
Official statutory text
A refinancing agreement shall:
(1) Be in writing and be signed by the parties;
(2) Incorporate by reference the transaction to which the refinancing agreement applies;
(3) State the amount that is to be refinanced, the date or dates on which the installments were originally payable and the date or dates on which they will become payable; and
(4) State the amount of the charge to be paid by the buyer for the privilege of refinancing, which shall be the difference between the total amount of the finance charge that was to have been paid under the terms of the original contract computed on the assumption that all scheduled installments would have been paid when due and the total finance charge that is to be paid pursuant to the refinancing computed on the assumption that all scheduled installments will be paid when due.
Source: SL 1974, ch 305, § 14.
(1) Be in writing and be signed by the parties;
(2) Incorporate by reference the transaction to which the refinancing agreement applies;
(3) State the amount that is to be refinanced, the date or dates on which the installments were originally payable and the date or dates on which they will become payable; and
(4) State the amount of the charge to be paid by the buyer for the privilege of refinancing, which shall be the difference between the total amount of the finance charge that was to have been paid under the terms of the original contract computed on the assumption that all scheduled installments would have been paid when due and the total finance charge that is to be paid pursuant to the refinancing computed on the assumption that all scheduled installments will be paid when due.
Source: SL 1974, ch 305, § 14.
Status: in_force · Read it on the official government site
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