South Dakota Codified Laws
Chapter 09 - Secured Transactions
Section 57A-9-622 - Effect of acceptance of collateral.

South Dakota Codified Laws

Title 57A - Uniform Commercial Code

Chapter 09 - Secured Transactions

Section 57A-9-101 - Short title.

Section 57A-9-102 - Definitions and index of definitions.

Section 57A-9-103 - Purchase money security interest--Application of payments--Burden of establishing nature of interest.

Section 57A-9-104 - Control of deposit account.

Section 57A-9-105 - Control of electronic chattel paper.

Section 57A-9-106 - Control of security, security settlement, or commodity contract.

Section 57A-9-107 - Control of letter-of-credit right.

Section 57A-9-108 - Sufficiency of description of property.

Section 57A-9-109 - Application of chapter.

Section 57A-9-110 - Provisions governing security interests arising under other sections.

Section 57A-9-201 - Effectiveness of security interest in general--Applicability of other laws--Conflict of law.

Section 57A-9-202 - Immateriality of title to collateral.

Section 57A-9-203 - Attachment and enforceability of security interest--Proceeds--Supporting obligations--Formal requisites

Section 57A-9-204 - Interest in after-acquired collateral.

Section 57A-9-204.1 - Attachment of security interest in transactions entered into between June 30, 1978, and July 1, 1979.

Section 57A-9-205 - Effect of debtor's right to use or dispose of collateral--Requirement of possession.

Section 57A-9-206 - Interest in favor of securities intermediary--Interest in favor of person who delivers financial asset.

Section 57A-9-207 - Rights and duties of secured party having possession or control of collateral.

Section 57A-9-208 - Additional duties of secured party having control of collateral.

Section 57A-9-209 - Secured party's obligation to release account debtor that has received note of assignment.

Section 57A-9-210 - Response to request for accounting, statement of account, or list of collateral.

Section 57A-9-301 - Law governing perfection, effect of perfection or nonperfection, and priority.

Section 57A-9-302 - Law governing perfection and priority issues relating to farm products.

Section 57A-9-303 - Law governing perfection and priority issues relating to goods covered by a certificate of title.

Section 57A-9-304 - Law governing perfection and priority issues relating to deposit accounts--Determination of bank's jurisdiction.

Section 57A-9-305 - Law governing perfection and priority issues relating to investment property--Determination of commodity intermediary's jurisdiction.

Section 57A-9-306 - Law governing issues of perfection and priority relating to letter-of-credit rights.

Section 57A-9-307 - Location of debtor.

Section 57A-9-308 - What constitutes perfection of security interest or agricultural lien.

Section 57A-9-309 - Security interests that are perfected when they attach.

Section 57A-9-310 - Requirement that financing statement be filed to perfect security interest or agricultural lien--Exceptions.

Section 57A-9-311 - Perfection of security interests in property subject to certain statutes, regulations, and treaties.

Section 57A-9-312 - Perfection of security interests in chattel paper, deposit accounts, documents, goods covered by documents, instruments, investment property, letter-of-credit rights, and money--Perfection by permissive filing--Temporary perfectio...

Section 57A-9-313 - Perfection by taking possession of collateral or by delivery.

Section 57A-9-314 - Perfection by control of collateral.

Section 57A-9-315 - Effect of disposition of collateral on security interest or agricultural lien--Interest in proceeds.

Section 57A-9-316 - Effect of change in governing law.

Section 57A-9-317 - Interests that take priority over or take free of security interest or agricultural lien.

Section 57A-9-318 - Effect of sale of collateral on rights of debtor.

Section 57A-9-319 - Rights of consignee in relation to creditors and purchasers.

Section 57A-9-320 - Rights of buyer in ordinary course of business--Buyer of goods from seller who bought or used them for personal or household use.

Section 57A-9-321 - "Licensee in ordinary course of business"--Rights with respect to security interest--Rights of lessee in ordinary course of business.

Section 57A-9-322 - Priority among conflicting security interests and agricultural liens in same collateral.

Section 57A-9-323 - Dating of perfection from time of advance--Subordination of security interest to interest of lien creditor--Rights of buyer of goods--Lessee of goods.

Section 57A-9-324 - Priority of perfected purchase money security interest.

Section 57A-9-325 - Subordination of security interest created by debtor to security interest created by another person.

Section 57A-9-326 - Subordination of security interest created by new debtor.

Section 57A-9-327 - Priority among conflicting security interests in same deposit account.

Section 57A-9-328 - Priority among conflicting security interests in same investment property.

Section 57A-9-329 - Priority among conflicting security interests in same letter-of-credit right.

Section 57A-9-330 - Priority of rights of purchaser of chattel paper--Priority in proceeds.

Section 57A-9-331 - Rights of holder in due course of negotiable instrument, holder of negotiable document of title, or protected purchaser of security--Rights of person protected under chapter 57A-8.

Section 57A-9-332 - Transferee of money or funds from deposit account.

Section 57A-9-333 - "Possessory lien"--Priority over security interest.

Section 57A-9-334 - Security interest in fixtures--Priority--Security interest in growing crops.

Section 57A-9-335 - Security interest in accession--Collateral that becomes an accession.

Section 57A-9-336 - "Commingled goods"--Security interest and priority issues with respect to commingled goods.

Section 57A-9-337 - Certificate of title failing to show security interest perfected under another jurisdiction's law.

Section 57A-9-338 - Effect of inaccurate financing statement on security interest or agricultural lien.

Section 57A-9-339 - Subordination by agreement.

Section 57A-9-340 - Bank's right of recoupment or setoff against party holding security interest in deposit account.

Section 57A-9-341 - Effect of security interest on bank's rights and duties with respect to deposit account.

Section 57A-9-342 - Bank's right with respect to agreement giving secured party control of deposit account.

Section 57A-9-401 - Transferability of debtor's rights.

Section 57A-9-402 - Secured party's liability for debtor's acts or omissions.

Section 57A-9-403 - "Value"--Agreement not to assert claims or defenses against assignee.

Section 57A-9-404 - Claims and defenses assertable against assignee.

Section 57A-9-405 - Effect of modification or substitution of assigned contract.

Section 57A-9-406 - Discharge of account debtor--Notice of assignment--Proof of assignment--Ineffective prohibitions or restrictions on assignments.

Section 57A-9-407 - Ineffective prohibitions or restrictions in lease agreement.

Section 57A-9-408 - Restrictions on assignment or transfer of promissory note, health care insurance receivable, or general intangible.

Section 57A-9-409 - Ineffective restrictions on assignment or creation of security interest in letter-of-credit right.

Section 57A-9-501 - Office for filing financing statement for security interest or agricultural lien.

Section 57A-9-501.1 - Validation of noncomplying statements.

Section 57A-9-501.2 - Secured party access through state's computer to record liens on real property--Rules.

Section 57A-9-502 - Contents of financing statement--Record of mortgage as financing statement--Time of filing financing statement.

Section 57A-9-503 - Name of debtor and secured party.

Section 57A-9-504 - Sufficiency of description of collateral.

Section 57A-9-505 - Filing by bailor of goods, licensor, or buyer of payment intangible or promissory note.

Section 57A-9-506 - Substantial compliance with requirements.

Section 57A-9-507 - Continuing effectiveness of filed financing statement.

Section 57A-9-508 - Effect of new debtor's rights in collateral.

Section 57A-9-509 - Authority to file financing statement or amendment adding collateral or debtor.

Section 57A-9-510 - Effectiveness of filed record.

Section 57A-9-511 - Person constituting secured party of record.

Section 57A-9-512 - Procedure for amending financing statement--Effectiveness.

Section 57A-9-513 - Termination statement.

Section 57A-9-514 - Assignment of secured party's power to authorize amendment--Assignment of record of security's interest in fixture.

Section 57A-9-515 - Effective period for filed financing statement--Effect of lapse.

Section 57A-9-516 - What constitutes filing--Refusal to accept for filing--Effect.

Section 57A-9-517 - Effect of incorrect indexing of record.

Section 57A-9-518 - Information statement regarding record.

Section 57A-9-519 - Duties of filing office in dealing with records.

Section 57A-9-520 - Refusal by filing office to accept record.

Section 57A-9-521 - Forms for financing statement, amendment to statement, and addendum for either.

Section 57A-9-522 - Required retention of information from financing statement--Destruction of written record.

Section 57A-9-523 - Acknowledgment of filing--Information to be communicated from records on request--Sale or licensing of records.

Section 57A-9-524 - Excuses for filing office failure to meet time limits.

Section 57A-9-525 - Fees for filing and indexing records.

Section 57A-9-525.1 - Effect of filing with register of deeds prior to July 1, 1986--Continuation or amendment thereof.

Section 57A-9-525.2 - Central filing system--Promulgation of regulations.

Section 57A-9-525.3 - Central agricultural security interest filing system--Adoption of rules.

Section 57A-9-525.4 - Fee for crop or livestock effective finance statement microfiche master list.

Section 57A-9-526 - Rules and practices for filing offices.

Section 57A-9-527 - Financing statement and annual report filing fee fund.

Section 57A-9-528 - Fees deposited in filing fee fund.

Section 57A-9-529 - Disposition of balance of funds.

Section 57A-9-530 - Combined financing statement for farm products.

Section 57A-9-601 - Rights of secured party after default--Rights of debtor and obligor--Relation back of judgment lien.

Section 57A-9-602 - Waiver or variance of rules by debtor or obligor.

Section 57A-9-603 - Agreement on standards for fulfilling rights and duties.

Section 57A-9-604 - Procedure if obligation secured by security interest in personal property or fixtures is also secured by interest in real property.

Section 57A-9-605 - Duty of secured party to unknown debtor or obligor or unknown secured party or lienholder.

Section 57A-9-606 - Time of default in connection with agricultural lien.

Section 57A-9-607 - Collection and enforcement by secured party.

Section 57A-9-608 - Application of proceeds--Entitlement to surplus or liability for deficiency.

Section 57A-9-609 - Secured party's rights with respect to collateral following default.

Section 57A-9-609.1 - Action for recovery of security by creditor against third party purchaser of farm products--Limitation period--Offer to file criminal complaint.

Section 57A-9-609.2 - Farm products fraud--Misdemeanor.

Section 57A-9-610 - Disposition of collateral after default--Treatment of warranties.

Section 57A-9-611 - "Notification date"--Notification of disposition of collateral.

Section 57A-9-612 - Reasonable time for sending notification.

Section 57A-9-613 - Contents of notification--Form.

Section 57A-9-614 - Notice of disposition for consumer goods transaction--Form.

Section 57A-9-615 - Order of payment of cash proceeds--Proof of subordinate security interest or lien--Surplus or deficiency.

Section 57A-9-616 - "Explanation"--"Request"--Secured party's obligation to send explanation relating to surplus or deficiency.

Section 57A-9-617 - Rights of transferee of collateral disposed of after default.

Section 57A-9-618 - Rights and duties of secondary obligor.

Section 57A-9-619 - "Transfer statement"--Rights of transferee--Effect of transfer of record or legal title.

Section 57A-9-620 - Conditions for accepting collateral in full or partial satisfaction of obligation--Requirement that collateral be disposed of.

Section 57A-9-621 - Persons who must receive secured party's proposal to accept collateral.

Section 57A-9-622 - Effect of acceptance of collateral.

Section 57A-9-623 - Persons who may redeem collateral--Procedure.

Section 57A-9-624 - Waiver of rights.

Section 57A-9-625 - Sanctions for failure to proceed in accordance with chapter--Liability for damages.

Section 57A-9-626 - Action in which amount of deficiency or surplus is in issue.

Section 57A-9-627 - What constitutes commercially reasonable collection, enforcement, disposition, or acceptance.

Section 57A-9-628 - Limitations on liability of secured party.

Section 57A-9-701 - Effective date of chapter.

Section 57A-9-702 - Effect of chapter on transactions or liens entered into or created before July 1, 2001--Effect on actions, cases, or proceedings.

Section 57A-9-703 - Effect of division on security interests enforceable before July 1, 2001.

Section 57A-9-704 - Enforceability and perfection of security interest enforceable immediately prior to July 1, 2001, and subordinate to lien creditor.

Section 57A-9-705 - Effect of certain actions prior to July 1, 2001.

Section 57A-9-706 - Conditions to continuing effectiveness of financing statement filed before July 1, 2001.

Section 57A-9-707 - Pre-effective-date financing statement--Amendment, continuation, termination.

Section 57A-9-708 - Conditions to filing initial financing statement or continuation statement under part.

Section 57A-9-709 - Determination of priority of conflicting claims to collateral--Dating priority of security interest.

Section 57A-9-801 - Effective date of SL 2012, ch 238.

Section 57A-9-802 - Savings clause.

Section 57A-9-803 - Security interest perfected before effective date.

Section 57A-9-804 - Security interest unperfected before effective date.

Section 57A-9-805 - Effectiveness of action taken before effective date.

Section 57A-9-806 - When initial financing statement suffices to continue effectiveness of financing statement.

Section 57A-9-807 - Amendment of pre-effective-date financing statement.

Section 57A-9-808 - Person entitled to file initial financing statement or continuation statement.

Section 57A-9-809 - Priority.