Section 51A-4-22 - Purchase of retail installment contract--Terms and effect of agreement. - South Dakota Statutes

51A-4-22. Purchase of retail installment contract--Terms and effect of agreement. A bank may purchase or acquire or agree to purchase or acquire, from any seller, any retail installment contract on such terms and conditions and for such price as may be agreed upon between them. Any such agreement does not give rise to any agency relationship between the bank and such seller, neither being agent nor principal of the other.

Source: SL 1969, ch 11, § 4.17; SL 1988, ch 377, § 94; SDCL, § 51-18-18.