South Dakota Codified Laws
Chapter 06A - Lease-Purchase Agreements For Personal Property
Section 54-6A-1 - Definitions.

54-6A-1. Definitions.
Terms used in this chapter mean:
(1)"Advertisement," a commercial message in any medium that aids, promotes, or assists, directly or indirectly, a lease-purchase agreement;
(2)"Cash price," the price at which the lessor would have sold the property to the consumer for cash on the date of the lease-purchase agreement;
(3)"Consumer," a natural person who rents personal property under a lease-purchase agreement to be used primarily for personal, family or household purposes;
(4)"Consummation," the time a consumer becomes contractually obligated on a lease-purchase agreement;
(5)"Lessor," a person who regularly provides the use of property through lease-purchase agreements and to whom lease payments are initially payable on the face of the lease-purchase agreement.

Source: SL 1991, ch 393, §1.

Structure South Dakota Codified Laws