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Statutes > South Dakota Laws > Title 54 - DEBTOR AND CREDITOR > Chapter 04 - Money Lending Licenses > Section 54-4-62 - Satisfaction of loan--Release of assignments.

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SOUTH DAKOTA STATUTES AND CODES

Section 54-4-62 - Satisfaction of loan--Release of assignments.

54-4-62. Satisfaction of loan--Release of assignments. When the payment of a loan is satisfied, the licensee shall release any liens against any property used as security, cancel any note, and release all assignments associated with the contract. The licensee shall send the note stamped paid in full and release any liens or assignments to the debtor within sixty days of receiving payment in full.

Source: SL 1998, ch 280, § 27.

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