South Dakota § 32-3-38.2 Certain fleet leasing contracts do not create sale or security interest--Not applicable to personal leases.

South Dakota Statutes

§ 32-3-38.2 — Certain fleet leasing contracts do not create sale or security interest--Not applicable to personal leases.

South Dakota § 32-3-38.2

Title 32MOTOR VEHICLES

Ch. 32-3TITLE REGISTRATION, LIENS AND TRANSFERS

This text of South Dakota § 32-3-38.2 (Certain fleet leasing contracts do not create sale or security interest--Not applicable to personal leases.) is published on Counsel Stack Legal Research, covering South Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.D. Codified Laws § 32-3-38.2 (2026).

Text

Motor vehicle fleet leasing contracts containing a terminal rental adjustment provision do not create a sale or security interest solely because the agreement provides that the rental price may be adjusted by the amount realized upon sale or other disposition of the motor vehicle or trailer. This section does not apply to vehicles or trailers leased or used primarily for personal, family, or household purposes.

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Motor vehicle fleet leasing contracts containing a terminal rental adjustment provision do not create a sale or security interest solely because the agreement provides that the rental price may be adjusted by the amount realized upon sale or other disposition of the motor vehicle or trailer. This section does not apply to vehicles or trailers leased or used primarily for personal, family, or household purposes.