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2020 South Dakota Codified Laws
Title 20 - Personal Rights and Obligations
Chapter 07 - Accord And Satisfaction, Novation And Release Of Obligations
Section 20-7-8 - Novation by substitution of creditor.
Universal Citation: SD Codified L § 20-7-8 (2020)
20-7-8. Novation by substitution of creditor.
Novation is made by the substitution of a new creditor in place of the old one, with intent to transfer the rights of the latter to the former.
Source: CivC 1877, §864, subdiv 3; CL 1887, §3488, subdiv 3; RCivC 1903, §1182, subdiv 3; RC 1919, §789 (3); SDC 1939, §47.0238 (3).
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