54-6A-4. Disclosure of information.
The lessor shall disclose to the consumer the information required by this chapter. In a transaction involving more than one lessor, only one lessor need make the disclosures, but all lessors shall be bound by such disclosures. The disclosures shall be made at or before consummation of the lease-purchase agreement. The disclosures shall be made clearly and conspicuously in writing and a copy of the lease-purchase agreement provided to the consumer. The disclosures required under §54-6A-5 shall be made on the face of the contract above the line for the consumer's signature.
If a disclosure becomes inaccurate as the result of any act, occurrence, or agreement by the consumer after delivery of the required disclosures, the resulting inaccuracy is not a violation of this chapter.
Source: SL 1991, ch 393, §4.
Structure South Dakota Codified Laws
Title 54 - Debtor and Creditor
Chapter 06A - Lease-Purchase Agreements For Personal Property
Section 54-6A-1 - Definitions.
Section 54-6A-2 - Lease-purchase agreement defined.
Section 54-6A-3 - Agreements exempt from other laws.
Section 54-6A-4 - Disclosure of information.
Section 54-6A-5 - Information required in disclosure.
Section 54-6A-6 - Provisions prohibited in agreements.
Section 54-6A-7 - Reinstatement of agreement--Repossession.
Section 54-6A-8 - Written receipts for cash or money order.
Section 54-6A-9 - Renegotiation for new agreement--Extensions.
Section 54-6A-10 - Advertisement of lease-purchase agreement.