61:24:03:13Billing requirements.

A dealer or lender is billed monthly for the use of the online system if the balance due is over fifty dollars. If the balance is fifty dollars or less, the user is billed when the balance reaches fifty dollars or at the time of renewal, whichever occurs first. A dealer or lender shall pay any remaining balance due before renewal. Failure to make payment results in interest accruing at the rate of one and one-quarter percent per month or five dollars whichever is greater for the first month and one and one-quarter percent for each month thereafter.

Source: 35 SDR 48, effective September 8, 2008; 50 SDR 157, effective July 1, 2024.