This page provides general legal information and calculation tools, not legal advice. DocketMath is not a law firm and does not provide legal representation, and using this site does not create an attorney-client relationship. Laws change and exceptions apply, so deadlines and amounts specific to your situation should be confirmed with a licensed attorney in your jurisdiction.

Reverse Interest in South Dakota

In South Dakota, reverse interest is governed by S.D. Codified Laws § 54-3-5.1, which sets the rate at 10% for Category B loans under § 54-3-16(2). This statute applies when a lender seeks to recover the difference between the loan balance and the collateral’s value after default. The rule establishes a specific statutory rate for calculating that deficiency, rather than leaving it to contractual terms. The worked example below demonstrates how this 10% figure applies in a typical calculation. The official source at https://sdlegislature.gov/Statutes/54-3 contains the full statutory language, including any factors or exceptions. To estimate a specific result, use the calculator on this page.

Governing authority

In South Dakota, the reverse interest rule is set by S.D. Codified Laws § 54-3-5.1 (Category B, § 54-3-16(2)). The verified packet cites S.D. Codified Laws § 54-3-5.1 (Category B, § 54-3-16(2)) (https://sdlegislature.gov/Statutes/54-3).

South Dakota reverse interest: the verified value is 10% under S.D. Codified Laws § 54-3-5.1 (Category B, § 54-3-16(2)). The verified packet cites S.D. Codified Laws § 54-3-5.1 (Category B, § 54-3-16(2)) (https://sdlegislature.gov/Statutes/54-3).

Estimate your own result: every situation has exceptions that can change the outcome. Use the reverse interest calculator to estimate your specific figure.

This page provides general legal information and calculation tools, not legal advice. DocketMath is not a law firm and does not provide legal representation, and using this site does not create an attorney-client relationship. Laws change and exceptions apply, so deadlines and amounts specific to your situation should be confirmed with a licensed attorney in your jurisdiction.