The interest which would become due at the end of the term for which a loan is made, not exceeding one year's interest in all, may be deducted from the loan in advance if the parties thus agree.
S.D. Codified Laws § 54-3-8
Interest on loan--Advance deduction
Source: CivC 1877, § 1099; CL 1887, § 3722; RCivC 1903, § 1418; RC 1919, § 1043; SDC 1939, § 38.0105.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.