32-7B-26. Consignment sales--Contract required--Form.

204 words·~1 min read·/sd/title-32/chapter-32-7/32-7b-26

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Any boat dealer or public auction may sell, or offer to sell, new, or used boats on consignment. For the purposes of this chapter, consignment means the delivery of a boat by the owner into the possession of another without transfer of title for the purpose of sale or where there is any condition that the purchaser does not have an absolute obligation to pay for the boat or has a right to return the boat to the seller. Any boat dealer or public auction who sells, or offers to sell, South Dakota titled boats or used boats titled in a bordering state including any accompanying titled boat trailers on consignment shall enter into a contract with the consignor.

If the boat or boat trailer owner's state does not issue titles for the consigned boat or boat trailer, the owner must provide a current state registration and accompanying affidavit stating that their home state does not issue titles for the boat or boat trailer being consigned. A bill of sale, the registration, and affidavit of statement must be in the possession of the consignment selling dealer or public auction along with the proper consignment contract. The department shall prescribe the form of the contract.