<HTML> <HEAD> <HTML> <HEAD> <meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 57A-3A - CONSUMER PAPER--LIMITATIONS ON NEGOTIABILITY 57A-3A CONSUMER PAPER--LIMITATIONS ON NEGOTIABILITY </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 57A-3A CONSUMER PAPER--LIMITATIONS ON NEGOTIABILITY "> <META NAME="Description" Content="South Dakota Codified Laws 57A-3A"> </HEAD> <BODY> <!-- File converted by Wp2Html Version 4.0 --> <!-- Email Andrew@brackenbeds.co.uk for more details --> <!-- WP Style Open: System_34 --><!-- WP Style End: System_34 --> <Div align="full"> <!-- WP Paired Style On: HG4 --><Div align="center"><!-- WP Style End: HG4 --> CHAPTER 57A-3A <!-- WP Paired Style Off: HG4 --><!-- WP Style End: HG4 --> </Div> <br> <!-- WP Paired Style On: HG4C --><Div align="center"><!-- WP Style End: HG4C --> CONSUMER PAPER--LIMITATIONS ON NEGOTIABILITY <!-- WP Paired Style Off: HG4C --><!-- WP Style End: HG4C --> </Div> <br> <p> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=57A-3A-101">57A-3A-101</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Definition of terms. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=57A-3A-102">57A-3A-102</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Instruments to be marked consumer paper--Holder not holder in due course. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=57A-3A-103">57A-3A-103</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Failure to mark consumer paper as misdemeanor. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=57A-3A-104">57A-3A-104</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Assignee of consumer paper not holder in due course though instrument unmarked--Contrary agreement void. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=57A-3A-105">57A-3A-105</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Assignee's liability restricted to amount owed--Defense or setoff. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=57A-3A-106">57A-3A-106</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Notice to buyer of assignment of paper--Contents--Defenses waived by failure to notify holder. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=57A-3A-107">57A-3A-107</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Holder as holder in due course after notice given and complaint or defense not asserted.<p> </BODY> </HTML> <br /><hr><br /><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-3A - CONSUMER PAPER--LIMITATIONS ON NEGOTIABILITY </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2081821Normal { text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2081821SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2081821CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2081821Normal-000000 { text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2081821DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2081821Normal-000001 { margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.s2081821000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2081821SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2081821SCL-000003 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2081821Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=57A-3A-101"><span class="s2081821SENU">57A-3A-101</span></a><span xml:space="preserve" class="s2081821SENU">. </span><span class="s2081821CL">Definition of terms.</span></p><p dir="ltr" class="s2081821Normal-000000"><span class="s2081821DefaultParagraphFont">Terms as used in this chapter, unless the context otherwise requires mean:</span></p><p dir="ltr" class="s2081821Normal-000001"><span class="s2081821DefaultParagraphFont">(1)    "Consumer goods or services," all goods and services purchased at retail and bought for use primarily for personal, family or household purposes.</span></p><p dir="ltr" class="s2081821Normal-000001"><span xml:space="preserve" class="s2081821DefaultParagraphFont">(2)    "Retail seller," as "Retailer" is defined in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=10-45-1"><span class="s2081821DefaultParagraphFont">10-45-1</span></a><span class="s2081821DefaultParagraphFont">.</span></p><p dir="ltr" class="s2081821Normal-000001"><span class="s2081821DefaultParagraphFont">(3)    "Retail buyer," any person purchasing consumer goods or services from a retail seller.</span></p><p dir="ltr" class="s2081821Normal-000001"><span xml:space="preserve" class="s2081821DefaultParagraphFont">(4)    "Person," as that term is defined by § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=10-45-1"><span class="s2081821DefaultParagraphFont">10-45-1</span></a><span class="s2081821DefaultParagraphFont">.</span></p><p dir="ltr" class="s2081821Normal"><span xml:space="preserve" class="s2081821000002"> </span></p><p dir="ltr" class="s2081821Normal"><span class="s2081821SCL">Source:</span><span xml:space="preserve" class="s2081821SCL-000003"> SL 1973, ch 295, § 1; SDCL Supp, § 57-10A-1.</span></p></div></body></html><br /><hr><br /><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-3A - CONSUMER PAPER--LIMITATIONS ON NEGOTIABILITY </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2073435Normal { 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.s2073435SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2073435CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2073435Normal-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.s2073435DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2073435000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2073435SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2073435SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2073435Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=57A-3A-102"><span class="s2073435SENU">57A-3A-102</span></a><span xml:space="preserve" class="s2073435SENU">. </span><span class="s2073435CL">Instruments to be marked consumer paper--Holder not holder in due course.</span></p><p dir="ltr" class="s2073435Normal-000000"><span class="s2073435DefaultParagraphFont">If any contract for sale or lease of consumer goods or services on credit, entered into between a retail seller and a retail buyer, requires or involves the execution of a promissory note, instrument or other evidence of indebtedness, hereinafter called instrument, such instrument shall have printed conspicuously on the face thereof the words "consumer paper," and a holder of such instrument shall not be deemed a holder in due course.</span></p><p dir="ltr" class="s2073435Normal"><span xml:space="preserve" class="s2073435000001"> </span></p><p dir="ltr" class="s2073435Normal"><span class="s2073435SCL">Source:</span><span xml:space="preserve" class="s2073435SCL-000002"> SL 1973, ch 295, § 2; SDCL Supp, § 57-10A-2.</span></p></div></body></html><br /><hr><br /><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-3A - CONSUMER PAPER--LIMITATIONS ON NEGOTIABILITY </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2073436Normal { 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.s2073436SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2073436CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2073436Normal-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.s2073436DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2073436000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2073436SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2073436SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2073436Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=57A-3A-103"><span class="s2073436SENU">57A-3A-103</span></a><span xml:space="preserve" class="s2073436SENU">. </span><span class="s2073436CL">Failure to mark consumer paper as misdemeanor.</span></p><p dir="ltr" class="s2073436Normal-000000"><span class="s2073436DefaultParagraphFont">Any retail seller or other responsible person who fails to imprint conspicuously the words "consumer paper" on an instrument arising out of a consumer credit sale as described in this chapter shall be guilty of a Class 2 misdemeanor.</span></p><p dir="ltr" class="s2073436Normal"><span xml:space="preserve" class="s2073436000001"> </span></p><p dir="ltr" class="s2073436Normal"><span class="s2073436SCL">Source:</span><span xml:space="preserve" class="s2073436SCL-000002"> SL 1973, ch 295, § 5; SDCL Supp, § 57-10A-3; SL 1980, ch 24, § 111.</span></p></div></body></html><br /><hr><br /><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-3A - CONSUMER PAPER--LIMITATIONS ON NEGOTIABILITY </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2073437Normal { 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.s2073437SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2073437CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2073437Normal-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.s2073437DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2073437000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2073437SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2073437SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2073437Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=57A-3A-104"><span class="s2073437SENU">57A-3A-104</span></a><span xml:space="preserve" class="s2073437SENU">. </span><span class="s2073437CL">Assignee of consumer paper not holder in due course though instrument unmarked--Contrary agreement void.</span></p><p dir="ltr" class="s2073437Normal-000000"><span class="s2073437DefaultParagraphFont">Notwithstanding the absence of such notice on an instrument arising out of a consumer credit sale or consumer lease as described in this chapter, an assignee of the rights of the seller or lessor shall not be deemed a holder in due course. Any agreement to the contrary shall be of no force or effect in limiting the rights of a retail buyer under this chapter.</span></p><p dir="ltr" class="s2073437Normal"><span xml:space="preserve" class="s2073437000001"> </span></p><p dir="ltr" class="s2073437Normal"><span class="s2073437SCL">Source:</span><span xml:space="preserve" class="s2073437SCL-000002"> SL 1973, ch 295, § 3; SDCL Supp, § 57-10A-4.</span></p></div></body></html><br /><hr><br /><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-3A - CONSUMER PAPER--LIMITATIONS ON NEGOTIABILITY </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2073438Normal { 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.s2073438SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2073438CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2073438Normal-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.s2073438DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2073438000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2073438SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2073438SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2073438Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=57A-3A-105"><span class="s2073438SENU">57A-3A-105</span></a><span xml:space="preserve" class="s2073438SENU">. </span><span class="s2073438CL">Assignee's liability restricted to amount owed--Defense or setoff.</span></p><p dir="ltr" class="s2073438Normal-000000"><span class="s2073438DefaultParagraphFont">The assignee's liability under this part may not exceed the amount owing to the assignee at the time the defense is asserted against the assignee, and the rights of the retail buyer can only be asserted as a matter of defense to or setoff against a claim by the assignee.</span></p><p dir="ltr" class="s2073438Normal"><span xml:space="preserve" class="s2073438000001"> </span></p><p dir="ltr" class="s2073438Normal"><span class="s2073438SCL">Source:</span><span xml:space="preserve" class="s2073438SCL-000002"> SL 1973, ch 295, § 3; SDCL Supp, § 57-10A-5.</span></p></div></body></html><br /><hr><br /><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-3A - CONSUMER PAPER--LIMITATIONS ON NEGOTIABILITY </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2073439Normal { 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.s2073439SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2073439CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2073439Normal-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.s2073439DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2073439DefaultParagraphFont-000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2073439000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2073439SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2073439SCL-000003 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2073439Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=57A-3A-106"><span class="s2073439SENU">57A-3A-106</span></a><span xml:space="preserve" class="s2073439SENU">. </span><span class="s2073439CL">Notice to buyer of assignment of paper--Contents--Defenses waived by failure to notify holder.</span></p><p dir="ltr" class="s2073439Normal-000000"><span class="s2073439DefaultParagraphFont">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</span><span class="s2073439DefaultParagraphFont-000001">-</span><span class="s2073439DefaultParagraphFont">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.</span></p><p dir="ltr" class="s2073439Normal"><span xml:space="preserve" class="s2073439000002"> </span></p><p dir="ltr" class="s2073439Normal"><span class="s2073439SCL">Source:</span><span xml:space="preserve" class="s2073439SCL-000003"> SL 1973, ch 295, § 4; SDCL Supp, § 57-10A-6.</span></p></div></body></html><br /><hr><br /><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-3A - CONSUMER PAPER--LIMITATIONS ON NEGOTIABILITY </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2073440Normal { 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.s2073440SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2073440CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2073440Normal-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.s2073440DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2073440000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2073440SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2073440SCL-000002 { 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="s2073440Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=57A-3A-107"><span class="s2073440SENU">57A-3A-107</span></a><span xml:space="preserve" class="s2073440SENU">. </span><span class="s2073440CL">Holder as holder in due course after notice given and complaint or defense not asserted.</span></p><p dir="ltr" class="s2073440Normal-000000"><span xml:space="preserve" class="s2073440DefaultParagraphFont">The holder of an instrument, defined as "consumer paper" by § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=57A-3A-102"><span class="s2073440DefaultParagraphFont">57A-3A-102</span></a><span xml:space="preserve" class="s2073440DefaultParagraphFont"> may be deemed a holder in due course if the assignee gives written notice to the retail buyer as provided in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=57A-3A-106"><span class="s2073440DefaultParagraphFont">57A-3A-106</span></a><span xml:space="preserve" class="s2073440DefaultParagraphFont">, and the assignee receives no written notification from the retail buyer of a complaint or defense as provided in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=57A-3A-106"><span class="s2073440DefaultParagraphFont">57A-3A-106</span></a><span class="s2073440DefaultParagraphFont">.</span></p><p dir="ltr" class="s2073440Normal"><span xml:space="preserve" class="s2073440000001"> </span></p><p dir="ltr" class="s2073440Normal"><span class="s2073440SCL">Source:</span><span xml:space="preserve" class="s2073440SCL-000002"> SL 1973, ch 295, § 4; SDCL Supp, § 57-10A-7.</span></p></div></body></html>