If a power unit operating under the provisions of this chapter is taken out of service for any reason or if ownership of such power unit has been or is transferred to another owner, or is transferred out of the State of South Dakota, upon surrender of the license plate assigned to such power unit, the administrator shall refund that portion of the fee paid which represents the unused portion of the licensing period for such power unit less a five dollar administrative fee which shall be credited to the state motor vehicle fund. The license plate shall be in the possession of the administrator, on or before the fifth day of the month, to receive credit for that month.

Terms Used In South Dakota Codified Laws 32-10-19

  • owner: means a person who holds a legal title of a vehicle, or in the event a vehicle is the subject of an agreement for the conditional sale thereof with the right of purchase upon performance of the conditions stated in the agreement and with an immediate right of possession vested in the conditional vendee, or in the event while a vehicle is subject to a lease with an immediate right of possession vested in the lessee, or in the event a mortgagor of a vehicle is entitled to possession, then such conditional vendee, lessee or mortgagee is considered to be the owner. See South Dakota Codified Laws 32-10-1

Source: SL 1961, ch 237, § 29 as added by SL 1967, ch 209, § 1; SL 1977, ch 249, § 49; SL 1978, ch 224, § 9; SL 1990, ch 230, § 11.

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