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S.D. Codified Laws § 54-3A-2

Items included in amount financed

Source: SL 1974, ch 305, § 1 (1).

As used in this chapter, unless the context otherwise requires, "amount financed" means the total of the following items from which any prepaid finance charge or required deposit has been excluded:

(1) The cash price of the goods or services less the total amount of any down payment whether made in cash or in property traded in;

(2) The amount actually paid or to be paid by the creditor pursuant to an agreement to discharge a security interest in, a lien on, or an unpaid obligation with respect to any property traded in; and

(3) Amounts actually paid or to be paid by the creditor which are for additional charges authorized by § 54-3A-5 and are agreed to by the consumer.

Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.