<html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 57A-2A-501 - Default procedure. </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2073329Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2073329SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2073329CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2073329Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2073329DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2073329Normal-000001 { margin-top: 0; margin-bottom: 0; margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-right: 0; } span.s2073329000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2073329SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2073329SCL-000003 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } body { text-decoration-skip-ink: none; } </style></head><body><div><p dir="ltr" class="s2073329Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=57A-2A-501"><span class="s2073329SENU">57A-2A-501</span></a><span xml:space="preserve" class="s2073329SENU">. </span><span class="s2073329CL">Default procedure.</span></p><p dir="ltr" class="s2073329Normal-000000"><span class="s2073329DefaultParagraphFont">(1) Whether the lessor or the lessee is in default under a lease contract is determined by the lease agreement and this chapter.</span></p><p dir="ltr" class="s2073329Normal-000001"><span class="s2073329DefaultParagraphFont">(2)    If the lessor or the lessee is in default under the lease contract, the party seeking enforcement has rights and remedies as provided in this chapter and, except as limited by the chapter, as provided in the lease agreement.</span></p><p dir="ltr" class="s2073329Normal-000001"><span class="s2073329DefaultParagraphFont">(3)    If the lessor or the lessee is in default under the lease contract, the party seeking enforcement may reduce the party's claim to judgment, or otherwise enforce the lease contract by self-help or any available judicial procedure or nonjudicial procedure, including administrative proceeding, arbitration, or the like, in accordance with this chapter.</span></p><p dir="ltr" class="s2073329Normal-000001"><span class="s2073329DefaultParagraphFont">(4)    Except as otherwise provided in § 57A-1-305(a) or this chapter or the lease agreement, the rights and remedies referred to in subsections (2) and (3) of this section are cumulative.</span></p><p dir="ltr" class="s2073329Normal-000001"><span class="s2073329DefaultParagraphFont">(5)    If the lease agreement covers both real property and goods, the party seeking enforcement may proceed under this chapter as to the goods, or under other applicable law as to both the real property and the goods in accordance with his rights and remedies in respect of the real property, in which case this chapter does not apply.</span></p><p dir="ltr" class="s2073329Normal"><span xml:space="preserve" class="s2073329000002"> </span></p><p dir="ltr" class="s2073329Normal"><span class="s2073329SCL">Source:</span><span xml:space="preserve" class="s2073329SCL-000003"> SL 1989, ch 419, § 1; SL 2008, ch 259, § 30.</span></p></div></body></html>