South Dakota Codified Laws 57A-3A-104. Assignee of consumer paper not holder in due course though instrument unmarked–Contrary agreement void
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Notwithstanding the absence of such notice on an instrument arising out of a consumer credit sale or consumer lease as described in this chapter, an assignee of the rights of the seller or lessor shall not be deemed a holder in due course. Any agreement to the contrary shall be of no force or effect in limiting the rights of a retail buyer under this chapter.
Terms Used In South Dakota Codified Laws 57A-3A-104
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
Source: SL 1973, ch 295, § 3; SDCL Supp, § 57-10A-4.