South Dakota Codified Laws 57A-3A-106. Notice to buyer of assignment of paper–Contents–Defenses waived by failure tonotify holder
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The assignee shall give written notice of the fact of assignment to the retail buyer. Such notification shall contain conspicuous notice to the retail buyer that the retail buyer has sixty days within which to notify the holder in writing of any complaint or defense the retail buyer may have against the retail seller; and that if such written notification of the complaint or defense is not received by the holder within such sixty–day period, the holder shall have the right to enforce such instrument free of any such defenses or setoff the retail buyer may have against the retail seller, and thereafter such instrument shall not be deemed consumer paper.
Terms Used In South Dakota Codified Laws 57A-3A-106
- Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
- written: include typewriting and typewritten, printing and printed, except in the case of signatures, and where the words are used by way of contrast to typewriting and printing. See South Dakota Codified Laws 2-14-2
Source: SL 1973, ch 295, § 4; SDCL Supp, § 57-10A-6.