S.D. Admin. R. 61:24:03:05

Current through Register Vol. 51, page 67, December 16, 2024

Section 61:24:03:05 - Contents of consignment contract

The contract required by SDCL chapters 32-6 B and 32-7B must contain, at a minimum, the following information:

(1) The name and address of the consignor (the owner);

(2) The name and address of the consignee (the dealer or auctioneer);

(3) The title number, the year, the make, and the serial number or hull identification number of the vehicle or boat;

(4) If applicable, the completed odometer disclosure;

(5) The agreed upon price or range;

(6) The agreed-upon amount that the owner is to pay the dealer or auctioneer;

(7) The length of time the vehicle or boat will be with the dealer or auctioneer;

(8) Disclosure by the dealer or auctioneer that the sale is a consignment sale;

(9) If applicable, the completed damage disclosure;

(10) The signature of the owner and the dealer or auctioneer; and

(11) If applicable, the lienholder's information.

S.D. Admin. R. 61:24:03:05

24 SDR 31, effective 9/17/1997; 24 SDR 180, effective 7/1/1998; 35 SDR 48, effective 9/8/2008.

General Authority: SDCL 32-6B-60, 32-7B-20.

Law Implemented: SDCL 32-6B-3, 32-6B-20, 32-6B-37, 32-7B-26.