The Division of Banking shall annually review current interest rates, which review shall take into account the national rate of inflation and the prime lending rate as well as other indices division personnel deem proper, and, if necessary, shall recommend amendments to § 54-3-16 to the Legislature during regular session.
S.D. Codified Laws § 54-3-17
Recommendations for amendment of official rates
Applied in 1 court decision — leading case First National Bank of Minneapolis v. Kehn Ranch, Inc. (1986)
Most recently applied in First National Bank of Minneapolis v. Kehn Ranch, Inc. (October 1986)
Source: SL 1984, ch 319, § 2.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.