54-3-8. Interest on loan--Advance deduction.
The interest which would become due at the end of the term for which a loan is made, not exceeding one year's interest in all, may be deducted from the loan in advance if the parties thus agree.
Source: CivC 1877, §1099; CL 1887, §3722; RCivC 1903, §1418; RC 1919, §1043; SDC 1939, §38.0105.