57A-3A-107. Holder as holder in due course after notice given and complaint or defense not asserted.
The holder of an instrument, defined as "consumer paper" by §57A-3A-102 may be deemed a holder in due course if the assignee gives written notice to the retail buyer as provided in §57A-3A-106, and the assignee receives no written notification from the retail buyer of a complaint or defense as provided in §57A-3A-106.
Source: SL 1973, ch 295, §4; SDCL Supp, §57-10A-7.
Structure South Dakota Codified Laws
Title 57A - Uniform Commercial Code
Chapter 03A - Consumer Paper--Limitations On Negotiability
Section 57A-3A-101 - Definition of terms.
Section 57A-3A-102 - Instruments to be marked consumer paper--Holder not holder in due course.
Section 57A-3A-103 - Failure to mark consumer paper as misdemeanor.
Section 57A-3A-105 - Assignee's liability restricted to amount owed--Defense or setoff.