# S.D. Codified Laws § 54-3-1.1: Rate of interest set by written agreement--No maximum or usury restriction

> South Dakota · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_SD_T54_C3_S54-3-1.1

## Section

- **Citation:** S.D. Codified Laws § 54-3-1.1
- **Heading:** Rate of interest set by written agreement--No maximum or usury restriction
- **Jurisdiction:** South Dakota
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** SD Code / Title 54 / Chapter 3 / Section 54-3-1.1

## Text

Unless a maximum interest rate or charge is specifically established elsewhere in the code, there is no maximum interest rate or charge, or usury rate restriction between or among persons, corporations, limited liability companies, estates, fiduciaries, associations, or any other entities if they establish the interest rate or charge by written agreement. A written agreement is a document in writing, whether in physical or electronic form, in which the parties have demonstrated their agreement to the terms and conditions of an extension of credit, including the rate of interest. A written agreement includes the contract created by § 54-11-9 .

Source: SL 1982, ch 341, § 1; SL 1987, ch 360, § 4; SL 1994, ch 351, § 147; SL 2016, ch 229, § 1.

## Nearby sections

- [S.D. Codified Laws § 54-3-1 Interest defined](https://www.frixlaw.com/law-library/statutes/STATE_SD_T54_C3_S54-3-1.md)
- [S.D. Codified Laws § 54-3-1.1 Rate of interest set by written agreement--No maximum or usury restriction](https://www.frixlaw.com/law-library/statutes/STATE_SD_T54_C3_S54-3-1.1.md)
- [S.D. Codified Laws § 54-3-2 Loan of money--Presumption as to interest](https://www.frixlaw.com/law-library/statutes/STATE_SD_T54_C3_S54-3-2.md)
- [S.D. Codified Laws § 54-3-3 Annual rate of interest where not specified](https://www.frixlaw.com/law-library/statutes/STATE_SD_T54_C3_S54-3-3.md)
- [S.D. Codified Laws § 54-3-4 Maximum rate of interest where no rate specified--Commencement where date not specified](https://www.frixlaw.com/law-library/statutes/STATE_SD_T54_C3_S54-3-4.md)
- [S.D. Codified Laws § 54-3-5 Interest on moneys after they become due--Exception for express contracts or interest rate on bill, statement, or invoice--Limitation on interest rate](https://www.frixlaw.com/law-library/statutes/STATE_SD_T54_C3_S54-3-5.md)
- [S.D. Codified Laws § 54-3-5.1 Interest on judgments, statutory liens and inverse condemnations](https://www.frixlaw.com/law-library/statutes/STATE_SD_T54_C3_S54-3-5.1.md)
- [S.D. Codified Laws § 54-3-6 Legal rate of interest stipulated by contract after breach](https://www.frixlaw.com/law-library/statutes/STATE_SD_T54_C3_S54-3-6.md)
- [S.D. Codified Laws § 54-3-8 Interest on loan--Advance deduction](https://www.frixlaw.com/law-library/statutes/STATE_SD_T54_C3_S54-3-8.md)
- [S.D. Codified Laws § 54-3-13 Regulated lenders exempt from interest rate limitations and usury statutes](https://www.frixlaw.com/law-library/statutes/STATE_SD_T54_C3_S54-3-13.md)
- [S.D. Codified Laws § 54-3-14 Regulated lenders defined](https://www.frixlaw.com/law-library/statutes/STATE_SD_T54_C3_S54-3-14.md)
- [S.D. Codified Laws § 54-3-15 Exemption from federal preemption of state usury laws](https://www.frixlaw.com/law-library/statutes/STATE_SD_T54_C3_S54-3-15.md)
- [S.D. Codified Laws § 54-3-16 Official state interest rates](https://www.frixlaw.com/law-library/statutes/STATE_SD_T54_C3_S54-3-16.md)
- [S.D. Codified Laws § 54-3-17 Recommendations for amendment of official rates](https://www.frixlaw.com/law-library/statutes/STATE_SD_T54_C3_S54-3-17.md)

---

Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_SD_T54_C3_S54-3-1.1. Check the current official text before relying on it. Not legal advice.