Assignee of consumer paper not holder in due course though instrument unmarked--Contrary agreement void.

  1. Law
  2. South Dakota Codified Laws
  3. Uniform Commercial Code
  4. Consumer Paper--Limitations On Negotiability
  5. Assignee of consumer paper not holder in due course though instrument unmarked--Contrary agreement void.

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57A-3A-104. Assignee of consumer paper not holder in due course though instrument unmarked--Contrary agreement void.

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.

Source: SL 1973, ch 295, §3; SDCL Supp, §57-10A-4.


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