This bill caps the interest rate charged on garnishment judgments at South Dakota's Category A rate, which is lower than the Category B rate previously allowed. Garnishment is a legal process where money is taken directly from a debtor's wages or bank account to pay a debt, and this change means creditors will earn less interest on these types of judgments.
Judiciary Deferred to the 41st legislative day Passed, YEAS 9, NAYS 4.
Judiciary Scheduled for hearing
First read in House and referred to House Judiciary H.J. 195
Mary Fitzgerald
Prime sponsor · Rep.
R
Cosponsors
Judiciary — Deferred to the 41st legislative day