North Dakota § 51-13-06.1 Authority to purchase retail installment contracts

North Dakota Statutes

§ 51-13-06.1 — Authority to purchase retail installment contracts

North Dakota § 51-13-06.1

Title 51Sales and Exchanges

Ch. 51-13Retail Installment Sales Act

This text of North Dakota § 51-13-06.1 (Authority to purchase retail installment contracts) 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 § 51-13-06.1 (2026).

Text

Notwithstanding any contrary provision of law:

1.A financing agency may purchase a retail installment contract from a seller on such terms and conditions and for such price as may be mutually agreed upon.

2.No filing of the assignment, no notice to the buyer of the assignment, and no requirement that the seller be deprived of dominion over payments upon the contract or over the personal property if repossessed by the seller, shall be necessary to the validity of a written assignment of a retail installment contract as against creditors, subsequent purchasers, pledgees, mortgagees, or encumbrancers of the seller.

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Notwithstanding any contrary provision of law:
1. A financing agency may purchase a retail installment contract from a seller on such
terms and conditions and for such price as may be mutually agreed upon.
2. No filing of the assignment, no notice to the buyer of the assignment, and no
requirement that the seller be deprived of dominion over payments upon the contract
or over the personal property if repossessed by the seller, shall be necessary to the
validity of a written assignment of a retail installment contract as against creditors,
subsequent purchasers, pledgees, mortgagees, or encumbrancers of the seller.