Can you summarize SDCL Chapter 54-11?
The provided legal document content pertains to credit cards and revolving charge accounts. It states that a credit card issuer has the right to change the terms of a credit card agreement if such right of amendment has been reserved. The credit card issuer must provide notice of the change and the right to reject it in accordance with 12 C.F.R. 1026. No changes can be made that are specifically prohibited by 12 C.
Can you summarize SDCL Chapter 54-8?
The provided legal document content pertains to acts in fraud of creditors. It outlines the actions that are considered fraudulent and the associated penalties. The document states that any person who is a party to a conveyance or assignment of property made with the intent to defraud prior or subsequent purchasers, delay or defraud creditors, or any person who is privy to or knows of such conveyance or assignment, is guilty of a Class 6 felony.
Can you summarize SDCL Chapter 57A-2A?
The provided legal document content pertains to leases under the Uniform Commercial Code (UCC) in South Dakota. It specifically addresses unconscionability in lease contracts. If a court determines that a lease contract or any clause within it was unconscionable at the time it was made, the court has several options. It may refuse to enforce the entire lease contract, enforce the remainder of the lease contract without the unconscionable clause, or limit the application of the unconscionable clause to avoid any unconscionable result.
Can you summarize SDCL Chapter 57A-3?
This legal document, sourced from the South Dakota Codified Laws, falls under the UNIFORM COMMERCIAL CODE and specifically pertains to Negotiable Instruments. It provides definitions and provisions regarding the payment terms of such instruments. A promise or order is considered ‘payable on demand’ if it explicitly states so or does not mention any specific time of payment. On the other hand, a promise or order is ‘payable at a definite time’ if it specifies a fixed date or a readily ascertainable time of payment.
Can you summarize SDCL Chapter 57A-4?
These legal documents, sourced from the South Dakota Codified Laws under the Uniform Commercial Code, govern the general provisions and definitions related to bank deposits and collections. They establish the foundational definitions and concepts necessary for understanding and applying the regulations in South Dakota. The documents cover various aspects related to the collection of items by depositary and collecting banks, as well as the final payment of items by payor banks.
Can you summarize SDCL Chapter 57A-4A?
This legal document falls under the South Dakota Codified Laws and specifically addresses funds transfers governed by the Uniform Commercial Code. It provides definitions for key terms related to funds transfers and governs the time of receipt of payment orders or communications cancelling or amending payment orders. The document allows receiving banks to establish cut-off times for the receipt and processing of payment orders and communications. It clarifies that if a payment order or communication is received after the close of a funds-transfer business day or after the appropriate cut-off time, the receiving bank may treat it as received at the opening of the next funds-transfer business day.
Can you summarize SDCL Chapter 57A-5?
These legal documents, part of the South Dakota Codified Laws under the Uniform Commercial Code, govern various aspects of letters of credit. They cover the subrogation rights of issuers, applicants, and nominated persons, as well as the security interest in documents presented under a letter of credit. The documents also address the liability of issuers, nominated persons, or advisers, the assignment of proceeds of a letter of credit, the transfer of drawing rights by operation of law, and the remedies available in various situations.
Can you summarize SDCL Chapter 57A-9?
The provided legal document content is from the South Dakota Codified Laws under the Uniform Commercial Code (UCC) - Secured Transactions. It governs various transactions and security interests in personal property or fixtures. The document applies to individuals and entities involved in secured transactions, including secured parties, debtors, account debtors, consignees, consignors, and other relevant parties. However, there are exemptions to its application, such as when federal law preempts it, when another statute of the state governs the creation of a security interest, when a statute of another state or foreign country expressly governs the creation, perfection, priority, or enforcement of a security interest, when the rights of a transferee beneficiary or nominated person under a letter of credit are independent and superior, or when specific exemptions related to liens, assignments, transfers, or other interests apply.
Can you summarize SCSR Chapter 15 Article 2?
The provided legal document content covers various aspects of cooperative credit unions in South Carolina. The documents govern the plan of operation for credit unions, including the requirement for members to give a 60-day notice of intention to withdraw shares and the procedure to be followed if there is a possibility of depleting cash on hand. The documents also outline the limitations and restrictions on real estate mortgages, including the requirements for obtaining certificates of title and market value, as well as maintaining fire insurance policies.
Can you summarize SCSR Section 15-18?
(Statutory Authority: 1976 Code 34-1-60) State chartered banks are hereby prohibited from accepting brokered deposit funds where tie-in loans are required to be made as a condition for the deposit of such funds.