South Dakota STATE LAW

WAGE GARNISHMENT EXEMPTIONS:

– 20% of the individuals disposable earnings for a 60 day period

MAXIMUM INTEREST RATE:

– Legal: 12%
– Judgment: 10%

STATUTE OF LIMITATIONS FOR ENFORCEMENT:

– Open Account (credit card): 6 years
– Written Contract: 6 years
– Domestic Judgment: 20 years
– Foreign Judgment: 10 years

BAD CHECK LAW DAMAGES:

– None specified

tape recording

– One party state

BANKRUPTCY PROPERTY EXEMPTIONS:
(South Dakota Codified Laws)

– Cannot use federal exemptions, but can claim the federal non–bankruptcy exemptions
– The State of South Dakota has exempted the property and income below from seizure by the bankruptcy court to pay unsecured creditors:

Real Property:

– Real property or mobile home, unlimited value, cannot exceed one acre in town or city or 160 acres elsewhere (proceeds from sale up to $30,000 are exempt for one year, but unlimited if over the age of 70 or an unmarried widow / widower) [43–31–1 through 43–31–4]

Personal Property:

– Books and bible up to $200, food and fuel for one year, burial plot, church pew, clothing, unlimited amount of each [43–45–2]
– Any head of household can also claim any personal property up to $6,000 [43–45–4 and 43–45–5]
– Non–heads of household can also claim any personal property up to $4,000 [43–45–4]

Insurance / Annuities:

– Endowment or life insurance policy, cash value or proceeds, up to $20,000 [58–12–4];
– Annuity contract proceeds up to $250 per month [58–12–6 and 58–12–8]
– Fraternal society benefits, unlimited amount [58–37A–18]
– health benefits up to $20,000 [58–12–4]
– Life insurance proceeds up to $10,000 if beneficiary is spouse or child [43–45–6]
– Life insurance proceeds if held by insurance company and policy proceeds cannot be used to pay off creditors [58–15–70]

Pensions / Retirement Plans:

– Public employees, unlimited amount [3–12–115]
– City employees, unlimited amount [9–16–47]

Public Benefits / Entitlements:

– Unemployment compensation, unlimited amount [61–6–28]
– Workers' compensation, unlimited amount [62–4–42]
– Aid to families with dependent children, unlimited amount [28–7A–18]

Wages:

– Wages earned up to 60 days prior to filing bankruptcy, amount needed for support [15–20–12]
– Prisoner's wages, unlimited amount [24–8–10]

Miscellaneous:

– Business partnership property, unlimited amount [48–4–14]