Section 32-3A-38.1 - Damage disclosure statement required--Violation as misdemeanor--Liabilityto subsequent owner. - South Dakota Statutes

32-3A-38.1. Damage disclosure statement required--Violation as misdemeanor--Liability to subsequent owner. Upon the sale, assignment, or transfer of a large boat, or if registering a large boat in South Dakota which is titled in another state or jurisdiction, the seller, assignor, or transferor, or person wishing to register in South Dakota a large boat which is titled in another state or jurisdiction shall submit an accurately completed damage disclosure statement when applying for a certificate of title pursuant to § 32-3A-20. The completed damage disclosure statement may be on the back of the certificate of title or on a separate document that has been approved for use by the department. No certificate of title may be issued by the department unless the damage disclosure statement accompanies the application. It is a Class 1 misdemeanor to intentionally falsify any information on the damage disclosure statement. No person is liable to a subsequent owner of a large boat because a prior owner of the large boat failed to disclose that the large boat had previously been damaged and repaired. This section applies to any large boat with damage in excess of five thousand dollars and is six years old or less. If the large boat has incurred damages more than once, only those damages which occurred at one time would be considered in determining whether the damages exceeded five thousand dollars.

Source: SL 2004, ch 203, § 1.