Section 10-43-25.2 - Interest, discount, and net gain from loans as part of receipts factor.
10-43-25.2. Interest, discount, and net gain from loans as part of receipts factor. Interest, discount, and net gain from loans, including federal funds sold and acceptances, and other installment obligations shall be included in the numerator specified in § 10-43-25.1 if:
(1) The loan was applied for by the borrower at an office of the financial institution, located in South Dakota; or
(2) The loan was purchased, or involved in participation or other pooling arrangement, and the office of the financial institution which made the purchase or entered into the participation is in South Dakota; or
(3) The loan was solicited by an employee of the financial institution, and such employee is located in South Dakota or the office out of which he operates is located in South Dakota.
Source: SL 1977, ch 96, § 12.