32-7B-9.2. Agreement that dealer will satisfy lien by paying lienholder--Trade of boat or consignment agreement--Theft.
If a person trades in a boat to a dealer or enters into a consignment agreement with a dealer whereby the dealer will sell the boat and the boat 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, §16.
Structure South Dakota Codified Laws
Chapter 07B - Regulation Of Boat Dealers
Section 32-7B-1 - Boat dealer defined.
Section 32-7B-2 - License required--Exceptions--Violation as misdemeanor.
Section 32-7B-3 - Classification of licenses.
Section 32-7B-4 - Application required--Contents.
Section 32-7B-5 - Verification of application--Refusal of application.
Section 32-7B-6.1 - Increase in dealer bond amount--Implementation.
Section 32-7B-7 - Proof of contract or franchise.
Section 32-7B-8 - Dealer license--Fee--Renewal--Disposition of fees--Promulgation of Rules.
Section 32-7B-9 - Books, records, and files to be kept--Inspection.
Section 32-7B-10 - Issuance of dealer plates--Fees--Disposition of fees.
Section 32-7B-10.1 - Mailing fees.
Section 32-7B-11 - Use of dealer plates--Display--Transfer of plates--Violation as misdemeanor.
Section 32-7B-14 - Dealer inspectors.
Section 32-7B-15 - Investigation of dealers.
Section 32-7B-17.1 - Cease and desist order for specified violations--Period of effectiveness.
Section 32-7B-17.2 - Hearing on question of whether violations occurred--Procedures.
Section 32-7B-17.3 - Finality of cease and desist order.
Section 32-7B-17.5 - Hearing to contest order to pay fine or suspend or revoke license--Procedures.
Section 32-7B-17.6 - Finality of order to pay fine or suspend or revoke license.
Section 32-7B-20 - Promulgation of rules--Administration by local officials.
Section 32-7B-21 - Principal place of business defined.
Section 32-7B-22 - Permission to change principal place of business.
Section 32-7B-24 - Separate licenses for places of business in different counties.
Section 32-7B-25 - Temporary permits for special events--Time limitation--Fee.
Section 32-7B-26 - Consignment sales--Contract required--Form.
Section 32-7B-27 - Manufacturer's statement of origin required for sale on consignment.
Section 32-7B-30 - Temporary location--Time limit--Zoning and building requirements.