S.D. Codified Laws § 54-6A-3

Current through the 2024 Legislative Session

Section 54-6A-3 - Agreements exempt from other laws

Lease-purchase agreements which comply with this chapter are not subject to the laws relating to:

(1) A consumer transaction in chapter 54-3A;

(2) A security interest defined in § 57A-1-201; or

(3) A lease in chapter 57A-2A.

This chapter does not apply to the following:

(1) Lease-purchase agreements primarily for business, commercial, or agricultural purposes, or those made with governmental agencies or instrumentalities or with organizations;

(2) A lease of a safe deposit box;

(3) A lease or bailment of personal property which is incidental to the lease of real property, and which provides that the consumer has no option to purchase the leased property; or

(4) A lease of a motor vehicle.

SDCL 54-6A-3

SL 1991, ch 393, § 3.