South Dakota Administrative Rules
Title 20 - PUBLIC SAFETY
Article 20:07 - BANKING
Chapter 20:07:03 - Internal management of banks
Section 20:07:03:09 - Accounting for late payments - Installment note and conditional sales contract with acceleration clause
Universal Citation: SD Admin Rules 20:07:03:09
Current through Register Vol. 50, page 114, March 25, 2024
When installment notes or conditional sales contracts which contain an acceleration clause are delinquent one installment, only the amount of the delinquent payments shall be considered as past due when other information indicates that the maker expects to perform the contract.
General Authority: SDCL 51A-2-13.
Law Implemented: SDCL 51A-2-15.
Disclaimer: These regulations may not be the most recent version. South Dakota may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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