reglab/housing_qa huggingface dataset:
SD Codified L § 57A-9-609.1 (2021)
2021 South Dakota Codified Laws|Title 57A - Uniform Commercial Code|Chapter 09 - Secured Transactions|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.

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.No cause of action for recovery of security or its value may be commenced by a secured creditor against an innocent third-party purchaser of farm products as defined in subsection (34) of §57A-9-102, nor may such a cause of action be commenced against a livestock auction agency, as defined in chapter 40-15 and §301 of the Packers and Stockyards Act (7 USC 201), or a public grain warehouse, or a public terminal grain warehouse, or a grain dealer as defined by chapters 49-43, 49-44, and 49-45 respectively, unless such action is commenced within twenty-four months from the date the farm products are sold and unless such action is preceded by the secured creditor offering to file against the debtor, a complaint as defined by §23A-2-1. Source: SL 2000, ch 231.
SD Codified L § 57A-9-609.2 (2021)
2021 South Dakota Codified Laws|Title 57A - Uniform Commercial Code|Chapter 09 - Secured Transactions|Section 57A-9-609.2 - Farm products fraud--Misdemeanor.

57A-9-609.2. Farm products fraud--Misdemeanor.Any person who for himself, or through an agent, sells livestock through a livestock auction agency, as defined in chapter 40-15 and §301 of the Packers and Stockyards Act (7 USC 201), or who so sells grain through a public grain warehouse, or through a public terminal grain warehouse, or a grain dealer as defined in chapters 49-43, 49-44, and 49-45 respectively, without notifying the livestock auction agency or the grain warehouse or grain dealer of a security interest in such farm products, and with intent to defraud, is guilty of farm products fraud. The failure of the seller to give written notice of a security interest in the farm products prior to the date of the sale by the livestock auction agency, or the grain warehouse, or grain dealer, is prima facie evidence of intent to defraud.A violation of this section is a Class 1 misdemeanor. Source: SL 2000, ch 231.
SD Codified L § 57A-9-610 (2021)
2021 South Dakota Codified Laws|Title 57A - Uniform Commercial Code|Chapter 09 - Secured Transactions|Section 57A-9-610 - Disposition of collateral after default--Treatment of warranties.

57A-9-610. Disposition of collateral after default--Treatment of warranties.(a) After default, a secured party may sell, lease, license, or otherwise dispose of any or all of the collateral in its present condition or following any commercially reasonable preparation or processing .(b) Every aspect of a disposition of collateral, including the method, manner, time, place, and other terms, must be commercially reasonable. If commercially reasonable, a secured party may dispose of collateral by public or private proceedings, by one or more contracts, as a unit or in parcels, and at any time and place and on any terms.(c) A secured party may purchase collateral:(1)At a public disposition; or(2)At a private disposition only if the collateral is of a kind that is customarily sold on a recognized market or the subject of widely distributed standard price quotations.(d) A contract for sale, lease, license, or other disposition includes the warranties relating to title, possession, quiet enjoyment, and the like which by operation of law accompany a voluntary disposition of property of the kind subject to the contract.(e) A secured party may disclaim or modify warranties under subsection (d):(1)In a manner that would be effective to disclaim or modify the warranties in a voluntary disposition of property of the kind subject to the contract of disposition; or(2)By communicating to the purchaser a record evidencing the contract for disposition and including an express disclaimer or modification of the warranties.(f) A record is sufficient to disclaim warranties under subsection (e) if it indicates "There is no warranty relating to title, possession, quiet enjoyment, or the like in this disposition" or uses words of similar import. Source: SL 2000, ch 231.
SD Codified L § 57A-9-611 (2021)
2021 South Dakota Codified Laws|Title 57A - Uniform Commercial Code|Chapter 09 - Secured Transactions|Section 57A-9-611 - "Notification date"--Notification of disposition of collateral.

57A-9-611."Notification date"--Notification of disposition of collateral.(a) In this section, "notification date" means the earlier of the date on which:(1)A secured party sends to the debtor and any secondary obligor an authenticated notification of disposition; or(2)The debtor and any secondary obligor waive the right to notification.(b) Except as otherwise provided in subsection (d), a secured party that disposes of collateral under §57A-9-610 shall send to the persons specified in subsection (c) a reasonable authenticated notification of disposition.(c) To comply with subsection (b), the secured party shall send an authenticated notification of disposition to:(1)The debtor;(2)Any secondary obligor; and(3)If the collateral is other than consumer goods:(A)Any other person from which the secured party has received, before the notification date, an authenticated notification of a claim of an interest in the collateral;(B)Any other secured party or lienholder that, ten days before the notification date, held a security interest in or other lien on the collateral perfected by the filing of a financing statement that:(i)Identified the collateral;(ii)Was indexed under the debtor's name as of that date; and(iii)Was filed in the office in which to file a financing statement against the debtor covering the collateral as of that date; and(C)Any other secured party that, ten days before the notification date, held a security interest in the collateral perfected by compliance with a statute, regulation, or treaty described in §57A-9-311(a).(d) Subsection (b) does not apply if the collateral is perishable or threatens to decline speedily in value or is of a type customarily sold on a recognized market.(e) A secured party complies with the requirement for notification prescribed by subsection (c)(3)(B) if:(1)Not later than twenty days or earlier than thirty days before the notification date, the secured party requests, in a commercially reasonable manner, information concerning financing statements indexed under the debtor's name in the office indicated in subsection (c)(3)(B); and(2)Before the notification date, the secured party:(A)Did not receive a response to the request for information; or(B)Received a response to the request for information and sent an authenticated notification of disposition to each secured party or other lienholder named in that response whose financing statement covered the collateral. Source: SL 2000, ch 231.
SD Codified L § 57A-9-612 (2021)
2021 South Dakota Codified Laws|Title 57A - Uniform Commercial Code|Chapter 09 - Secured Transactions|Section 57A-9-612 - Reasonable time for sending notification.

57A-9-612. Reasonable time for sending notification.(a) Except as otherwise provided in subsection (b), whether a notification is sent within a reasonable time is a question of fact.(b) In a transaction other than a consumer transaction, a notification of disposition sent after default and ten days or more before the earliest time of disposition set forth in the notification is sent within a reasonable time before the disposition. Source: SL 2000, ch 231.
SD Codified L § 57A-9-613 (2021)
2021 South Dakota Codified Laws|Title 57A - Uniform Commercial Code|Chapter 09 - Secured Transactions|Section 57A-9-613 - Contents of notification--Form.

57A-9-613. Contents of notification--Form.Except in a consumer-goods transaction, the following rules apply:(1)The contents of a notification of disposition are sufficient if the notification:(A)Describes the debtor and the secured party;(B)Describes the collateral that is the subject of the intended disposition;(C)States the method of intended disposition;(D)States that the debtor is entitled to an accounting of the unpaid indebtedness and states the charge, if any, for an accounting; and(E)States the time and place of a public disposition or the time after which any other disposition is to be made.(2)Whether the contents of a notification that lacks any of the information specified in paragraph (1) are nevertheless sufficient is a question of fact.(3)The contents of a notification providing substantially the information specified in paragraph (1) are sufficient, even if the notification includes:(A)Information not specified by that paragraph; or(B)Minor errors that are not seriously misleading.(4)A particular phrasing of the notification is not required.(5)The following form of notification and the form appearing in §57A-9-614(3), when completed, each provides sufficient information:NOTIFICATION OF DISPOSITION OF COLLATERALTo: [Name of debtor, obligor, or other person to which the notification is sent]From: [Name, address, and telephone number of secured party]Name of Debtor(s): [Include only if debtor(s) are not an addressee][For a public disposition:]We will sell [or lease or license, as applicable] the [describe collateral] [to the highest qualified bidder] in public as follows:Day and Date: %#40 __________Time: %#40 __________Place: %#40 __________[For a private disposition:]We will sell [or lease or license, as applicable] the [describe collateral] privately sometime after [day and date].You are entitled to an accounting of the unpaid indebtedness secured by the property that we intend to sell [or lease or license, as applicable] [for a charge of $___]. You may request an accounting by calling us at [telephone number]. Source: SL 2000, ch 231.
SD Codified L § 57A-9-617 (2021)
2021 South Dakota Codified Laws|Title 57A - Uniform Commercial Code|Chapter 09 - Secured Transactions|Section 57A-9-617 - Rights of transferee of collateral disposed of after default.

57A-9-617. Rights of transferee of collateral disposed of after default.(a) A secured party's disposition of collateral after default:(1)Transfers to a transferee for value all of the debtor's rights in the collateral;(2)Discharges the security interest under which the disposition is made; and(3)Discharges any subordinate security interest or other subordinate lien, other than liens created by law that are not to be discharged.(b) A transferee that acts in good faith takes free of the rights and interests described in subsection (a), even if the secured party fails to comply with this chapter or the requirements of any judicial proceeding.(c) If a transferee does not take free of the rights and interests described in subsection (a), the transferee takes the collateral subject to:(1)The debtor's rights in the collateral;(2)The security interest or agricultural lien under which the disposition is made; and(3)Any other security interest or other lien. Source: SL 2000, ch 231.
SD Codified L § 57A-9-618 (2021)
2021 South Dakota Codified Laws|Title 57A - Uniform Commercial Code|Chapter 09 - Secured Transactions|Section 57A-9-618 - Rights and duties of secondary obligor.

57A-9-618. Rights and duties of secondary obligor.(a) A secondary obligor acquires the rights and becomes obligated to perform the duties of the secured party after the secondary obligor:(1)Receives an assignment of a secured obligation from the secured party;(2)Receives a transfer of collateral from the secured party and agrees to accept the rights and assume the duties of the secured party; or(3)Is subrogated to the rights of a secured party with respect to collateral.(b) An assignment, transfer, or subrogation described in subsection (a):(1)Is not a disposition of collateral under §57A-9-610; and(2)Relieves the secured party of further duties under this chapter. Source: SL 2000, ch 231.
SD Codified L § 57A-9-619 (2021)
2021 South Dakota Codified Laws|Title 57A - Uniform Commercial Code|Chapter 09 - Secured Transactions|Section 57A-9-619 - "Transfer statement"--Rights of transferee--Effect of transfer of record or legal title.

57A-9-619."Transfer statement"--Rights of transferee--Effect of transfer of record or legal title.(a) In this section, "transfer statement" means a record authenticated by a secured party stating:(1)That the debtor has defaulted in connection with an obligation secured by specified collateral;(2)That the secured party has exercised its post-default remedies with respect to the collateral;(3)That, by reason of the exercise, a transferee has acquired the rights of the debtor in the collateral; and(4)The name and mailing address of the secured party, debtor, and transferee.(b) A transfer statement entitles the transferee to the transfer of record of all rights of the debtor in the collateral specified in the statement in any official filing, recording, registration, or certificate-of-title system covering the collateral. If a transfer statement is presented with the applicable fee and request form to the official or office responsible for maintaining the system, the official or office shall:(1)Accept the transfer statement;(2)Promptly amend its records to reflect the transfer; and(3)If applicable, issue a new appropriate certificate of title in the name of the transferee.(c) A transfer of the record or legal title to collateral to a secured party under subsection (b) or otherwise is not of itself a disposition of collateral under this chapter and does not of itself relieve the secured party of its duties under this chapter. Source: SL 2000, ch 231.
SD Codified L § 57A-9-621 (2021)
2021 South Dakota Codified Laws|Title 57A - Uniform Commercial Code|Chapter 09 - Secured Transactions|Section 57A-9-621 - Persons who must receive secured party's proposal to accept collateral.

57A-9-621. Persons who must receive secured party's proposal to accept collateral.(a) A secured party that desires to accept collateral in full or partial satisfaction of the obligation it secures shall send its proposal to:(1)Any person from which the secured party has received, before the debtor consented to the acceptance, an authenticated notification of a claim of an interest in the collateral;(2)Any other secured party or lienholder that, ten days before the debtor consented to the acceptance, held a security interest in or other lien on the collateral perfected by the filing of a financing statement that:(A)Identified the collateral;(B)Was indexed under the debtor's name as of that date; and(C)Was filed in the office or offices in which to file a financing statement against the debtor covering the collateral as of that date; and(3)Any other secured party that, ten days before the debtor consented to the acceptance, held a security interest in the collateral perfected by compliance with a statute, regulation, or treaty described in §57A-9-311(a).(b) A secured party that desires to accept collateral in partial satisfaction of the obligation it secures shall send its proposal to any secondary obligor in addition to the persons described in subsection (a). Source: SL 2000, ch 231.
SD Codified L § 57A-9-622 (2021)
2021 South Dakota Codified Laws|Title 57A - Uniform Commercial Code|Chapter 09 - Secured Transactions|Section 57A-9-622 - Effect of acceptance of collateral.

57A-9-622. Effect of acceptance of collateral.(a) A secured party's acceptance of collateral in full or partial satisfaction of the obligation it secures:(1)Discharges the obligation to the extent consented to by the debtor;(2)Transfers to the secured party all of a debtor's rights in the collateral;(3)Discharges the security interest or agricultural lien that is the subject of the debtor's consent and any subordinate security interest or other subordinate lien; and(4)Terminates any other subordinate interest.(b) A subordinate interest is discharged or terminated under subsection (a), even if the secured party fails to comply with this chapter. Source: SL 2000, ch 231.
SD Codified L § 57A-9-623 (2021)
2021 South Dakota Codified Laws|Title 57A - Uniform Commercial Code|Chapter 09 - Secured Transactions|Section 57A-9-623 - Persons who may redeem collateral--Procedure.

57A-9-623. Persons who may redeem collateral--Procedure.(a) A debtor, any secondary obligor, or any other secured party or lienholder may redeem collateral.(b) To redeem collateral, a person shall tender:(1)Fulfillment of all obligations secured by the collateral; and(2)The reasonable expenses and attorney's fees described in §57A-9-615(a)(1).(c) A redemption may occur at any time before a secured party:(1)Has collected collateral under §57A-9-607;(2)Has disposed of collateral or entered into a contract for its disposition under §57A-9-610; or(3)Has accepted collateral in full or partial satisfaction of the obligation it secures under §57A-9-622. Source: SL 2000, ch 231.
SD Codified L § 57A-9-624 (2021)
2021 South Dakota Codified Laws|Title 57A - Uniform Commercial Code|Chapter 09 - Secured Transactions|Section 57A-9-624 - Waiver of rights.

57A-9-624. Waiver of rights.(a) A debtor or secondary obligor may waive the right to notification of disposition of collateral under §57A-9-611 only by an agreement to that effect entered into and authenticated after default.(b) A debtor may waive the right to require disposition of collateral under §57A-9-620(e) only by an agreement to that effect entered into and authenticated after default.(c) Except in a consumer-goods transaction, a debtor or secondary obligor may waive the right to redeem collateral under §57A-9-623 only by an agreement to that effect entered into and authenticated after default. Source: SL 2000, ch 231.
SD Codified L § 57A-9-625 (2021)
2021 South Dakota Codified Laws|Title 57A - Uniform Commercial Code|Chapter 09 - Secured Transactions|Section 57A-9-625 - Sanctions for failure to proceed in accordance with chapter--Liability for damages.

57A-9-625. Sanctions for failure to proceed in accordance with chapter--Liability for damages.(a) If it is established that a secured party is not proceeding in accordance with this chapter, a court may order or restrain collection, enforcement, or disposition of collateral on appropriate terms and conditions.(b) Subject to subsections (c) and (d) a person is liable for damages in the amount of any loss caused by a failure to comply with this chapter. Loss caused by a failure to comply may include loss resulting from the debtor's inability to obtain, or increased costs of, alternative financing.(c) Except as otherwise provided in §57A-9-628:(1)A person that, at the time of the failure, was a debtor, was an obligor, or held a security interest in or other lien on the collateral may recover damages under subsection (b) for its loss; and(2)If the collateral is consumer goods, a person that was a debtor or a secondary obligor at the time a secured party failed to comply with this part may recover for that failure in any event an amount not less than the credit service charge plus 10 percent of the principal amount of the obligation or the time-price differential plus 10 percent of the cash price.(d) A debtor whose deficiency is eliminated under §57A-9-626 may recover damages for the loss of any surplus. However, a debtor or secondary obligor whose deficiency is eliminated or reduced under §57A-9-626 may not otherwise recover under subsection (b) for noncompliance with the provisions of this part relating to collection, enforcement, disposition, or acceptance.(e) If a secured party fails to comply with a request regarding a list of collateral or a statement of account under §57A-9-210, the secured party may claim a security interest only as shown in the list or statement included in the request as against a person that is reasonably misled by the failure. Source: SL 2000, ch 231.
SD Codified L § 57A-9-626 (2021)
2021 South Dakota Codified Laws|Title 57A - Uniform Commercial Code|Chapter 09 - Secured Transactions|Section 57A-9-626 - Action in which amount of deficiency or surplus is in issue.

57A-9-626. Action in which amount of deficiency or surplus is in issue.(a) In an action arising from a transaction in which the amount of a deficiency or surplus is in issue, the following rules apply:(1)A secured party need not prove compliance with the provisions of this part relating to collection, enforcement, disposition, or acceptance unless the debtor or a secondary obligor places the secured party's compliance in issue.(2)If the secured party's compliance is placed in issue, the secured party has the burden of establishing that the collection, enforcement, disposition, or acceptance was conducted in accordance with this part.(3)Except as otherwise provided in §57A-9-628, if a secured party fails to prove that the collection, enforcement, disposition, or acceptance was conducted in accordance with the provisions of this part relating to collection, enforcement, disposition, or acceptance, the liability of a debtor or a secondary obligor for a deficiency is limited to an amount by which the sum of the secured obligation, expenses, and attorney's fees exceeds the greater of:(A)The proceeds of the collection, enforcement, disposition, or acceptance; or(B)The amount of proceeds that would have been realized had the noncomplying secured party proceeded in accordance with the provisions of this part relating to collection, enforcement, disposition, or acceptance.(4)For purposes of paragraph (3)(B), the amount of proceeds that would have been realized is equal to the sum of the secured obligation, expenses, and attorney's fees unless the secured party proves that the amount is less than that sum.(5)If a deficiency or surplus is calculated under §57A-9-615(f), the debtor or obligor has the burden of establishing that the amount of proceeds of the disposition is significantly below the range of prices that a complying disposition to a person other than the secured party, a person related to the secured party, or a secondary obligor would have brought. Source: SL 2000, ch 231.
SD Codified L § 57A-9-627 (2021)
2021 South Dakota Codified Laws|Title 57A - Uniform Commercial Code|Chapter 09 - Secured Transactions|Section 57A-9-627 - What constitutes commercially reasonable collection, enforcement, disposition, or acceptance.

57A-9-627. What constitutes commercially reasonable collection, enforcement, disposition, or acceptance.(a) The fact that a greater amount could have been obtained by a collection, enforcement, disposition, or acceptance at a different time or in a different method from that selected by the secured party is not of itself sufficient to preclude the secured party from establishing that the collection, enforcement, disposition, or acceptance was made in a commercially reasonable manner.(b) A disposition of collateral is made in a commercially reasonable manner if the disposition is made:(1)In the usual manner on any recognized market;(2)By the price current in any recognized market at the time of the disposition; or(3)Otherwise in conformity with reasonable commercial practices among dealers in the type of property that was the subject of the disposition.(c) A collection, enforcement, disposition, or acceptance is commercially reasonable if it has been approved:(1)In a judicial proceeding;(2)By a bona fide creditors' committee;(3)By a representative of creditors; or(4)By an assignee for the benefit of creditors.(d) Approval under subsection (c) need not be obtained, and lack of approval does not mean that the collection, enforcement, disposition, or acceptance is not commercially reasonable. Source: SL 2000, ch 231.