Uplift Legal Funding provides non-recourse lawsuit loans through funding companies that service South Dakota. With a population of 858,469, South Dakota is the 15th largest state in the United States and ranks 10th for per capita fatal injuries (D.C. included).
Because funding regulation is complex, Uplift developed a funding-ease scale. This scale helps plaintiffs understand what part their state plays in lawsuit loan decisions. On a scale of 0 to 10, South Dakota scores a 7.5. This means that we consider it relatively tough for plaintiffs to get lawsuit loans in South Dakota. Read more information below about the legal funding environment in South Dakota.
Accident Injury in South Dakota
South Dakota’s yearly injury death rate of 70.3 per 100,000 places it 17.0% higher than the national average of 60.1.
South Dakota residents drive an estimated total of 9 billion miles yearly. That means the average South Dakota resident drives about of 10,861 miles per year. That figure is 12.8% higher than the U.S. national average of 9,630 miles per year.
Aside from miles driven, local seatbelt and drinking and driving habits play a large part in the auto accident death rate. South Dakota residents are fairly bad when it comes to buckling up, reporting a 67.0% use rate.
The drinking rate in South Dakota or the percent of people who report drinking too much before driving at least once in the prior month is 2.5%, which is 35.3% higher than the national average of 1.8%.
In part due to these factors, the car accident fatality rate in South Dakota is 15.5. This compares unfavorably to the US national average of 10.9 and costs the state $177 million yearly.
South Dakota Legal Funding Cheat Sheet
According to Title 15, Ch. 2, Sec. 15-2-14; the civil statute of limitations in South Dakota is 3 years. This means that you may lose the right to sue for negligence if you do not file your lawsuit within the limit.
How plaintiff negligence impacts the liability claim varies from state-to-state. South Dakota’s guideline is slight gross negligence / comparative fault. Essentially, this means that plaintiff’s recovery barred if more than slightly negligent – S.D.C.L. § 20-9-2. It’s important to keep in mind that if you request car accident lawsuit loans early-on in your claim, legal funding underwriters must assume South Dakota state minimum policy limits of:
- $25,000 bodily injury liability per person
- $50,000 bodily injury liability per accident
- $15,000 property damage liability per accident
Regulation of Lawsuit Loans in South Dakota
Lawsuit loans in South Dakota remain largely unregulated and most legal funding companies provide funding in the state.
Despite lack of regulation, reputable companies follow basic best-practice disclosure guidelines for legal funding contracts. Lawsuit lenders nationwide should display rates, fees and repayment terms prominently.