North Dakota § 51-13-02.1 Retail installment contracts - Prohibited provisions

North Dakota Statutes

§ 51-13-02.1 — Retail installment contracts - Prohibited provisions

North Dakota § 51-13-02.1

Title 51Sales and Exchanges

Ch. 51-13Retail Installment Sales Act

This text of North Dakota § 51-13-02.1 (Retail installment contracts - Prohibited provisions) is published on Counsel Stack Legal Research, covering North Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.D. Cent. Code § 51-13-02.1 (2026).

Text

No contract may contain any provision by which:

1.In the absence of the buyer's default, the holder may, arbitrarily and without reasonable cause, accelerate the maturity of any part or all of the time balance owing thereunder.

2.A power of attorney is given to confess judgment in this state, or an assignment of wages is given.

3.The buyer waives any claim for relief against the seller or holder of the contract, or other person acting on the seller's or holder's behalf, for any illegal act committed in the collection of payments under the contract or in the repossession of the personal property.

4.The buyer executes a power of attorney appointing the seller or holder of the contract, or other person acting on the seller's or holder's behalf, as the buyer's agent in collection of payme

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No contract may contain any provision by which:
1. In the absence of the buyer's default, the holder may, arbitrarily and without
reasonable cause, accelerate the maturity of any part or all of the time balance owing
thereunder.

2. A power of attorney is given to confess judgment in this state, or an assignment of
wages is given.
3. The buyer waives any claim for relief against the seller or holder of the contract, or
other person acting on the seller's or holder's behalf, for any illegal act committed in
the collection of payments under the contract or in the repossession of the personal
property.
4. The buyer executes a power of attorney appointing the seller or holder of the contract,
or other person acting on the seller's or holder's behalf, as the buyer's agent in
collection of payments under the contract or in the repossession of the personal
property.
5. The buyer relieves the seller from liability for any legal remedies which the buyer may
have against the seller under the contract or any separate instrument executed in
connection therewith.
6. The buyer may subsequently include the title to or a lien upon any goods, other than
the personal property which is the subject matter of the retail installment sale and any
accessories or special or auxiliary equipment used in connection therewith, or in
substitution, in whole or in part, for any thereof, as security for payment of the deferred
payment price.