Statutes, codes, and regulations
South Dakota Codified Laws
Title 32 - MOTOR VEHICLES
Chapter 3 - TITLE REGISTRATION, LIENS AND TRANSFERS
Section 32-3-38.2 - Certain fleet leasing contracts do not create sale or security interest-Not applicable to personal leases

S.D. Codified Laws § 32-3-38.2

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Current through the 2024 Legislative Session
Section 32-3-38.2 - Certain fleet leasing contracts do not create sale or security interest-Not applicable to personal leases

Motor vehicle fleet leasing contracts containing a terminal rental adjustment provision do not create a sale or security interest solely because the agreement provides that the rental price may be adjusted by the amount realized upon sale or other disposition of the motor vehicle or trailer. This section does not apply to vehicles or trailers leased or used primarily for personal, family, or household purposes.

SDCL 32-3-38.2

SL 2003, ch 161, §1.