32-7A-12.2. Agreement that dealer will satisfy lien by paying lienholder--Trade of mobile or manufactured home or consignment agreement--Theft.
If a person trades in a mobile or manufactured home to a dealer or enters into a consignment agreement with a dealer whereby the dealer will sell the mobile or manufactured home and the mobile or manufactured home has a lien noted on the title, the dealer and person may agree that the dealer shall satisfy the lien amount by paying the lienholder who is noted on the title. Failure to satisfy a lien pursuant to this section constitutes theft pursuant to chapter 22-30A. The degree of theft is determined by the amount of the unsatisfied lien. Multiple violations of this section occurring within any thirty-day period may be aggregated in amount to determine the degree of theft.
Source: SL 2005, ch 159, §12.
Structure South Dakota Codified Laws
Chapter 07A - Dealers And Manufacturers Of Manufactured Homes And Mobile Homes
Section 32-7A-1 - Definitions.
Section 32-7A-2 - Established place of business.
Section 32-7A-3 - License required--Exceptions--Violation as misdemeanor.
Section 32-7A-4.1 - Application required--Contents.
Section 32-7A-4.2 - Grounds for denial of license or application of §§ 32-7A-4.3 to 32-7A-4.8.
Section 32-7A-4.3 - Cease and desist order for specified violations--Period of effectiveness.
Section 32-7A-4.4 - Hearing on question of whether violations occurred--Procedures.
Section 32-7A-4.5 - Finality of cease and desist order.
Section 32-7A-4.7 - Hearing to contest order to pay fine or suspend or revoke license--Procedures.
Section 32-7A-4.8 - Finality of order to pay fine or suspend or revoke license.
Section 32-7A-5 - Bond required for license.
Section 32-7A-5.1 - Notice to surety company of denial, suspension, or revocation of license.
Section 32-7A-6 - Separate licenses for places of business in different counties.
Section 32-7A-7 - Fee for license--Renewal.
Section 32-7A-8 - Disposition of fees.
Section 32-7A-8.1 - Increase in dealer bond amount--Implementation.
Section 32-7A-9 - Time for grant or denial of license--Issuance of certificate--Form.
Section 32-7A-10 - Dealers' plates--Issuance--Use--Fees.
Section 32-7A-10.1 - Mailing fees.
Section 32-7A-11 - Transportation of manufactured and mobile homes owned by dealer.
Section 32-7A-12 - Books, records, and files kept by licensees.
Section 32-7A-16 - Sales on consignment--Title requirements.
Section 32-7A-18 - Appointment of dealer inspectors--Entry--Complaints.
Section 32-7A-19 - Investigation--Purpose--Inspection--Examination.
Section 32-7A-23 - Application for injunction--Issuance without bond.