South Dakota § 54-6A-9 Renegotiation for new agreement--Extensions.

South Dakota Statutes

§ 54-6A-9 — Renegotiation for new agreement--Extensions.

South Dakota § 54-6A-9

Title 54DEBTOR AND CREDITOR

Ch. 54-6ALEASE-PURCHASE AGREEMENTS FOR PERSONAL PROPERTY

This text of South Dakota § 54-6A-9 (Renegotiation for new agreement--Extensions.) 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 § 54-6A-9 (2026).

Text

A renegotiation shall occur when an existing lease - purchase agreement is satisfied and replaced by a new agreement undertaken by the same lessor and consumer. A renegotiation shall be considered a new agreement requiring new disclosures. However, the following events may not be treated as renegotiations:

(1)The addition or return of property in a multiple - item agreement or in the substitution of the lease property, if in either case the average payment allocable to a payment period is not changed by more than twenty - five percent;

(2)A deferral or extension of one or more periodic payments, or portions of a periodic payment;

(3)A reduction in charges in the lease or agreement; and (4) A lease or agreement involved in a court proceeding. No disclosures are required for a

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A renegotiation shall occur when an existing lease - purchase agreement is satisfied and replaced by a new agreement undertaken by the same lessor and consumer. A renegotiation shall be considered a new agreement requiring new disclosures. However, the following events may not be treated as renegotiations: (1) The addition or return of property in a multiple - item agreement or in the substitution of the lease property, if in either case the average payment allocable to a payment period is not changed by more than twenty - five percent; (2) A deferral or extension of one or more periodic payments, or portions of a periodic payment; (3) A reduction in charges in the lease or agreement; and (4) A lease or agreement involved in a court proceeding. No disclosures are required for any extension of a lease - purchase agreement.