57A-1-309. Option to accelerate at will.
A term providing that one party or that party's successor in interest may accelerate payment or performance or require collateral or additional collateral "at will" or when the party "deems itself insecure," or words of similar import, means that the party has power to do so only if that party in good faith believes that the prospect of payment or performance is impaired. The burden of establishing lack of good faith is on the party against which the power has been exercised.
Source: SL 2008, ch 259, ยง23.
Structure South Dakota Codified Laws
Title 57A - Uniform Commercial Code
Chapter 01 - General Provisions
Section 57A-1-101 - Short title.
Section 57A-1-102 - Scope of chapter.
Section 57A-1-104 - Construction against implied repeal.
Section 57A-1-105 - Severability.
Section 57A-1-106 - Use of singular and plural--Gender.
Section 57A-1-107 - Section captions.
Section 57A-1-108 - Relation to Electronic Signatures in Global and National Commerce Act.
Section 57A-1-201 - General definitions.
Section 57A-1-202 - Notice--Knowledge.
Section 57A-1-203 - Lease distinguished from security interest.
Section 57A-1-205 - Reasonable time--Seasonableness.
Section 57A-1-206 - Presumptions.
Section 57A-1-301 - Territorial applicability--Parties' power to choose applicable law.
Section 57A-1-302 - Variation by agreement.
Section 57A-1-303 - Course of performance, course of dealing, and usage of trade.
Section 57A-1-304 - Obligation of good faith.
Section 57A-1-305 - Remedies to be liberally administered.
Section 57A-1-306 - Waiver or renunciation of claim or right after breach.
Section 57A-1-307 - Prima facie evidence by third-party documents.
Section 57A-1-308 - Performance or acceptance under reservation of rights.