Title 51, Sales and Exchanges

In this chapter, unless the context or subject matter otherwise requires: 1. "Amount financed" or "unpaid balance" means the cash price of the personal property which is the subject matter of the retail installment sale, plus the amounts, if any, included in a retail installment …

1. A retail installment contract must be dated and in writing, and must contain all the agreements of the parties with respect to the cost and terms of payment for the personal property, including any promissory notes or other evidences of indebtedness between the parties relatin…

No contract may contain any provision by which: 1. In the absence of the buyer's default, the holder may, arbitrarily and without reasonable cause, accelerate the maturity of any part or all of the time balance owing thereunder. 2. A power of attorney is given to confess judgment…

1. A retail seller may contract for in a retail installment contract and charge, receive, and collect the finance charge computed on the principal balance of the contract or obligation from the date thereof until paid. A retail seller who complies with the disclosure provisions o…

Unless the buyer has notice of actual or intended assignment of a retail installment contract, payment made by the buyer to the last-known holder of the contract is binding upon all subsequent holders or assignees.

Upon written request from the buyer, the holder of a retail installment contract shall give or forward to the buyer a written statement of the dates and amounts of payments and the total amount unpaid under the contract. A buyer must be given a written receipt for any payment whe…

After the payment of all sums for which the buyer is obligated under a retail installment contract, and upon written demand made by the buyer, the holder of such contract shall mail to the buyer at the buyer's last-known address, good and sufficient instruments to indicate paymen…

1. At any time before maturity, a buyer may pay in full the remaining principal due on a retail installment contract and is entitled to a refund of finance charges as follows: a. The refund must be at least the finance charge paid in excess of that computed under the simple inter…

Notwithstanding any contrary provision of law: 1. A financing agency may purchase a retail installment contract from a seller on such terms and conditions and for such price as may be mutually agreed upon. 2. No filing of the assignment, no notice to the buyer of the assignment, …

No provision of this chapter applies to a retail installment sale of personal property if: 1. The cash price of the personal property exceeds twenty-five thousand dollars; or 2. The personal property is to be used primarily for a business, commercial, or agricultural purpose, not…

Any person who willfully violates this chapter is guilty of a class A misdemeanor. A willful violation of section 51-13-02 or 51-13-03 by any person bars that person's recovery of any finance charge or delinquency or collection charge on the retail installment contract involved. …

Any waiver of the provisions of this chapter is unenforceable and void.