reglab/statecodes huggingface dataset:
2023 South Dakota Codified Laws › Title 57A - Uniform Commercial Code › Chapter 09 - Secured Transactions › Section 57A-9-340 - Bank's right of recoupment or setoff against party holding security interest in deposit account.

57A-9-340. Bank's right of recoupment or setoff against party holding security interest in deposit account.
(a) Except as otherwise provided in subsection (c), a bank with which a deposit account is maintained may exercise any right of recoupment or set-off against a secured party that holds a security interest in the deposit account.
(b) Except as otherwise provided in subsection (c), the application of this article to a security interest in a deposit account does not affect a right of recoupment or set-off of the secured party as to a deposit account maintained with the secured party.
(c) The exercise by a bank of a set-off against a deposit account is ineffective against a secured party that holds a security interest in the deposit account which is perfected by control under §57A-9-104(a)(3), if the set-off is based on a claim against the debtor.
Source:
SL 2000, ch 231.
2023 South Dakota Codified Laws › Title 57A - Uniform Commercial Code › Chapter 09 - Secured Transactions › Section 57A-9-341 - Effect of security interest on bank's rights and duties with respect to deposit account.

57A-9-341. Effect of security interest on bank's rights and duties with respect to deposit account.
Except as otherwise provided in §57A-9-340(c), and unless the bank otherwise agrees in an authenticated record, a bank's rights and duties with respect to a deposit account maintained with the bank are not terminated, suspended, or modified by:
(1)The creation, attachment, or perfection of a security interest in the deposit account;
(2)The bank's knowledge of the security interest; or
(3)The bank's receipt of instructions from the secured party.
Source:
SL 2000, ch 231.
2023 South Dakota Codified Laws › Title 57A - Uniform Commercial Code › Chapter 09 - Secured Transactions › Section 57A-9-342 - Bank's right with respect to agreement giving secured party control of deposit account.

57A-9-342. Bank's right with respect to agreement giving secured party control of deposit account.
This chapter does not require a bank to enter into an agreement of the kind described in §57A-9-104(a)(2), even if its customer so requests or directs. A bank that has entered into such an agreement is not required to confirm the existence of the agreement to another person unless requested to do so by its customer.
Source:
SL 2000, ch 231.
2023 South Dakota Codified Laws › Title 57A - Uniform Commercial Code › Chapter 09 - Secured Transactions › Section 57A-9-401 - Transferability of debtor's rights.

57A-9-401. Transferability of debtor's rights.
(a) Except as otherwise provided in subsection (b) and §§57A-9-406, 57A-9-407, 57A-9-408, and 57A-9-409, whether a debtor's rights in collateral may be voluntarily or involuntarily transferred is governed by law other than this article.
(b) An agreement between the debtor and secured party which prohibits a transfer of the debtor's rights in collateral or makes the transfer a default does not prevent the transfer from taking effect.
Source:
SL 2000, ch 231.
2023 South Dakota Codified Laws › Title 57A - Uniform Commercial Code › Chapter 09 - Secured Transactions › Section 57A-9-402 - Secured party's liability for debtor's acts or omissions.

57A-9-402. Secured party's liability for debtor's acts or omissions.
The existence of a security interest, agricultural lien, or authority given to a debtor to dispose of or use collateral, without more, does not subject a secured party to liability in contract or tort for the debtor's acts or omissions.
Source:
SL 2000, ch 231.
2023 South Dakota Codified Laws › Title 57A - Uniform Commercial Code › Chapter 09 - Secured Transactions › Section 57A-9-403 - "Value"--Agreement not to assert claims or defenses against assignee.

57A-9-403."Value"--Agreement not to assert claims or defenses against assignee.
(a) In this section, "value" has the meaning provided in §57A-3-303(a).
(b) Except as otherwise provided in this section, an agreement between an account debtor and an assignor not to assert against an assignee any claim or defense that the account debtor may have against the assignor is enforceable by an assignee that takes an assignment:
(1)For value;
(2)In good faith;
(3)Without notice of a claim of a property or possessory right to the property assigned; and
(4)Without notice of a defense or claim in recoupment of the type that may be asserted against a person entitled to enforce a negotiable instrument under §57A-3-305(a).
(c) Subsection (b) does not apply to defenses of a type that may be asserted against a holder in due course of a negotiable instrument under §57A-3-305(b).
(d) In a consumer transaction, if a record evidences the account debtor's obligation, law other than this chapter requires that the record include a statement to the effect that the rights of an assignee are subject to claims or defenses that the account debtor could assert against the original obligee, and the record does not include such a statement:
(1)The record has the same effect as if the record included such a statement; and
(2)The account debtor may assert against an assignee those claims and defenses that would have been available if the record included such a statement.
(e) This section is subject to law other than this article which establishes a different rule for an account debtor who is an individual and who incurred the obligation primarily for personal, family, or household purposes.
(f) Except as otherwise provided in subsection (d), this section does not displace law other than this article which gives effect to an agreement by an account debtor not to assert a claim or defense against an assignee.
Source:
SL 2000, ch 231.
2023 South Dakota Codified Laws › Title 57A - Uniform Commercial Code › Chapter 09 - Secured Transactions › Section 57A-9-404 - Claims and defenses assertable against assignee.

57A-9-404. Claims and defenses assertable against assignee.
(a) Unless an account debtor has made an enforceable agreement not to assert defenses or claims, and subject to subsections (b) through (e), the rights of an assignee are subject to:
(1)All terms of the agreement between the account debtor and assignor and any defense or claim in recoupment arising from the transaction that gave rise to the contract; and
(2)Any other defense or claim of the account debtor against the assignor which accrues before the account debtor receives a notification of the assignment authenticated by the assignor or the assignee.
(b) Subject to subsection (c) and except as otherwise provided in subsection (d), the claim of an account debtor against an assignor may be asserted against an assignee under subsection (a) only to reduce the amount the account debtor owes.
(c) This section is subject to law other than this article which establishes a different rule for an account debtor who is an individual and who incurred the obligation primarily for personal, family, or household purposes.
(d) In a consumer transaction, if a record evidences the account debtor's obligation, law other than this chapter requires that the record include a statement to the effect that the account debtor's recovery against an assignee with respect to claims and defenses against the assignor may not exceed amounts paid by the account debtor under the record, and the record does not include such a statement, the extent to which a claim of an account debtor against the assignor may be asserted against an assignee is determined as if the record included such a statement.
(e) This section does not apply to an assignment of a health-care-insurance receivable.
Source:
SL 2000, ch 231.
2023 South Dakota Codified Laws › Title 57A - Uniform Commercial Code › Chapter 09 - Secured Transactions › Section 57A-9-405 - Effect of modification or substitution of assigned contract.

57A-9-405. Effect of modification or substitution of assigned contract.
(a) A modification of or substitution for an assigned contract is effective against an assignee if made in good faith. The assignee acquires corresponding rights under the modified or substituted contract. The assignment may provide that the modification or substitution is a breach of contract by the assignor. This subsection is subject to subsections (b) through (d).
(b) Subsection (a) applies to the extent that:
(1)The right to payment or a part thereof under an assigned contract has not been fully earned by performance; or
(2)The right to payment or a part thereof has been fully earned by performance and the account debtor has not received notification of the assignment under §57A-9-406(a).
(c) This section is subject to law other than this article which establishes a different rule for an account debtor who is an individual and who incurred the obligation primarily for personal, family, or household purposes.
(d) This section does not apply to an assignment of a health-care-insurance receivable.
Source:
SL 2000, ch 231.
2023 South Dakota Codified Laws › Title 57A - Uniform Commercial Code › Chapter 09 - Secured Transactions › Section 57A-9-407 - Ineffective prohibitions or restrictions in lease agreement.

57A-9-407. Ineffective prohibitions or restrictions in lease agreement.
(a) Except as otherwise provided in subsection (b), a term in a lease agreement is ineffective to the extent that it:
(1)Prohibits, restricts, or requires the consent of a party to the lease to the assignment or transfer of, or the creation, attachment, perfection, or enforcement of a security interest in, an interest of a party under the lease contract or in the lessor's residual interest in the goods; or
(2)Provides that the assignment or transfer or the creation, attachment, perfection, or enforcement of the security interest may give rise to a default, breach, right of recoupment, claim, defense, termination, right of termination, or remedy under the lease.
(b) Except as otherwise provided in §57A-2A-303(7), a term described in subsection (a)(2) is effective to the extent that there is:
(1)A transfer by the lessee of the lessee's right of possession or use of the goods in violation of the term; or
(2)A delegation of a material performance of either party to the lease contract in violation of the term.
(c) The creation, attachment, perfection, or enforcement of a security interest in the lessor's interest under the lease contract or the lessor's residual interest in the goods is not a transfer that materially impairs the lessee's prospect of obtaining return performance or materially changes the duty of or materially increases the burden or risk imposed on the lessee within the purview of §57A-2A-303(4) unless, and then only to the extent that, enforcement actually results in a delegation of material performance of the lessor.
Source:
SL 2000, ch 231.
2023 South Dakota Codified Laws › Title 57A - Uniform Commercial Code › Chapter 09 - Secured Transactions › Section 57A-9-409 - Ineffective restrictions on assignment or creation of security interest in letter-of-credit right.

57A-9-409. Ineffective restrictions on assignment or creation of security interest in letter-of-credit right.
(a) A term in a letter of credit or a rule of law, statute, regulation, custom, or practice applicable to the letter of credit which prohibits, restricts, or requires the consent of an applicant, issuer, or nominated person to a beneficiary's assignment of or creation of a security interest in a letter-of-credit right is ineffective to the extent that the term or rule of law, statute, regulation, custom, or practice:
(1)Would impair the creation, attachment, or perfection of a security interest in the letter-of-credit right; or
(2)Provides that the assignment or the creation, attachment, or perfection of the security interest may give rise to a default, breach, right of recoupment, claim, defense, termination, right of termination, or remedy under the letter-of-credit right.
(b) To the extent that a term in a letter of credit is ineffective under subsection (a) but would be effective under law other than this chapter or a custom or practice applicable to the letter of credit, to the transfer of a right to draw or otherwise demand performance under the letter of credit, or to the assignment of a right to proceeds of the letter of credit, the creation, attachment, or perfection of a security interest in the letter-of-credit right:
(1)Is not enforceable against the applicant, issuer, nominated person, or transferee beneficiary;
(2)Imposes no duties or obligations on the applicant, issuer, nominated person, or transferee beneficiary; and
(3)Does not require the applicant, issuer, nominated person, or transferee beneficiary to recognize the security interest, pay or render performance to the secured party, or accept payment or other performance from the secured party.
Source:
SL 2000, ch 231.
2023 South Dakota Codified Laws › Title 57A - Uniform Commercial Code › Chapter 09 - Secured Transactions › Section 57A-9-501 - Office for filing financing statement for security interest or agricultural lien.

57A-9-501. Office for filing financing statement for security interest or agricultural lien.
(a) Except as otherwise provided in subsection (b), if the local law of this state governs perfection of a security interest or agricultural lien, the office in which to file a financing statement to perfect the security interest or agricultural lien is:
(1)The office designated for the filing or recording of a record of a mortgage on the related real property, if:
(A)The collateral is as-extracted collateral or timber to be cut; or
(B)The financing statement is filed as a fixture filing and the collateral is goods that are or are to become fixtures; or
(2)The Office of the Secretary of State, in all other cases, including a case in which the collateral is goods that are or are to become fixtures and the financing statement is not filed as a fixture filing.
(b) The office in which to file a financing statement to perfect a security interest in collateral, including fixtures, of a transmitting utility is the Office of the Secretary of State. The financing statement also constitutes a fixture filing as to the collateral indicated in the financing statement which is or is to become fixtures.
Source:
SL 2000, ch 231.
2023 South Dakota Codified Laws › Title 57A - Uniform Commercial Code › Chapter 09 - Secured Transactions › Section 57A-9-501.1 - Validation of noncomplying statements.

57A-9-501.1. Validation of noncomplying statements.
All statements to continue, release, assign, amend or terminate any financing statements filed subsequent to December 31, 1979, and prior to July 1, 1980, notwithstanding any noncompliance with §57A-9-401.1 as amended, are hereby cured, legalized and validated as fully as if such filings had been made in full compliance with §57A-9-401.1.
Source:
SL 2000, ch 231.
2023 South Dakota Codified Laws › Title 57A - Uniform Commercial Code › Chapter 09 - Secured Transactions › Section 57A-9-501.2 - Secured party access through state's computer to record liens on real property--Rules.

57A-9-501.2. Secured party access through state's computer to record liens on real property--Rules.
The secretary of state shall maintain a program granting a secured party access through the state's computer system to record liens on real property pursuant to §57A-9-501. The secretary may promulgate rules, pursuant to chapter 1-26, concerning the procedure for providing a secured party access to, adequate security for, and confidentiality of any public records related to the secured party's liens listed on the state's computer system.
Source:
SL 2002, ch 226, §1; SL 2004, ch 294, §1.
2023 South Dakota Codified Laws › Title 57A - Uniform Commercial Code › Chapter 09 - Secured Transactions › Section 57A-9-504 - Sufficiency of description of collateral.

57A-9-504. Sufficiency of description of collateral.
A financing statement sufficiently indicates the collateral that it covers if the financing statement provides:
(1)A description of the collateral pursuant to §57A-9-108; or
(2)An indication that the financing statement covers all assets or all personal property.
Source:
SL 2000, ch 231.
2023 South Dakota Codified Laws › Title 57A - Uniform Commercial Code › Chapter 09 - Secured Transactions › Section 57A-9-505 - Filing by bailor of goods, licensor, or buyer of payment intangible or promissory note.

57A-9-505. Filing by bailor of goods, licensor, or buyer of payment intangible or promissory note.
(a) A consignor, lessor, or other bailor of goods, a licensor, or a buyer of a payment intangible or promissory note may file a financing statement, or may comply with a statute or treaty described in §57A-9-311(a), using the terms "consignor", "consignee", "lessor", "lessee", "bailor", "bailee", "licensor", "licensee", "owner", "registered owner", "buyer", "seller", or words of similar import, instead of the terms "secured party" and "debtor".
(b) This part applies to the filing of a financing statement under subsection (a) and, as appropriate, to compliance that is equivalent to filing a financing statement under §57A-9-311(b), but the filing or compliance is not of itself a factor in determining whether the collateral secures an obligation. If it is determined for another reason that the collateral secures an obligation, a security interest held by the consignor, lessor, bailor, licensor, owner, or buyer which attaches to the collateral is perfected by the filing or compliance.
Source:
SL 2000, ch 231.
2023 South Dakota Codified Laws › Title 57A - Uniform Commercial Code › Chapter 09 - Secured Transactions › Section 57A-9-506 - Substantial compliance with requirements.

57A-9-506. Substantial compliance with requirements.
(a) A financing statement substantially satisfying the requirements of this part is effective, even if it has minor errors or omissions, unless the errors or omissions make the financing statement seriously misleading.
(b) Except as otherwise provided in subsection (c), a financing statement that fails sufficiently to provide the name of the debtor in accordance with §57A-9-503(a) is seriously misleading.
(c) If a search of the records of the filing office under the debtor's correct name, using the filing office's standard search logic, if any, would disclose a financing statement that fails sufficiently to provide the name of the debtor in accordance with §57A-9-503(a), the name provided does not make the financing statement seriously misleading.
(d) For purposes of §57A-9-508(b), the "debtor's correct name" in subsection (c) means the correct name of the new debtor.
Source:
SL 2000, ch 231.
2023 South Dakota Codified Laws › Title 57A - Uniform Commercial Code › Chapter 09 - Secured Transactions › Section 57A-9-507 - Continuing effectiveness of filed financing statement.

57A-9-507. Continuing effectiveness of filed financing statement.
(a) A filed financing statement remains effective with respect to collateral that is sold, exchanged, leased, licensed, or otherwise disposed of and in which a security interest or agricultural lien continues, even if the secured party knows of or consents to the disposition.
(b) Except as otherwise provided in subsection (c) and §57A-9-508, a financing statement is not rendered ineffective if, after the financing statement is filed, the information provided in the financing statement becomes seriously misleading under §57A-9-506.
(c) If the name that a filed financing statement provides for a debtor becomes insufficient as the name of the debtor under §57A-9-503(a) so that the financing statement becomes seriously misleading under §57A-9-506:
(1)The financing statement is effective to perfect a security interest in collateral acquired by the debtor before, or within four months after, the filed financing statement becomes seriously misleading; and
(2)The financing statement is not effective to perfect a security interest in collateral acquired by the debtor more than four months after the filed financing statement becomes seriously misleading, unless an amendment to the financing statement which renders the financing statement not seriously misleading is filed within four months after that event.
Source:
SL 2000, ch 231; SL 2012, ch 238, §12, eff. July 1, 2013.
2023 South Dakota Codified Laws › Title 57A - Uniform Commercial Code › Chapter 09 - Secured Transactions › Section 57A-9-508 - Effect of new debtor's rights in collateral.

57A-9-508. Effect of new debtor's rights in collateral.
(a) Except as otherwise provided in this section, a filed financing statement naming an original debtor is effective to perfect a security interest in collateral in which a new debtor has or acquires rights to the extent that the financing statement would have been effective had the original debtor acquired rights in the collateral.
(b) If the difference between the name of the original debtor and that of the new debtor causes a filed financing statement that is effective under subsection (a) to be seriously misleading under §57A-9-506:
(1)The financing statement is effective to perfect a security interest in collateral acquired by the new debtor before, and within four months after, the new debtor becomes bound under §57A-9-203(d); and
(2)The financing statement is not effective to perfect a security interest in collateral acquired by the new debtor more than four months after the new debtor becomes bound under §57A-9-203(d) unless an initial financing statement providing the name of the new debtor is filed before the expiration of that time.
(c) This section does not apply to collateral as to which a filed financing statement remains effective against the new debtor under §57A-9-507(a).
Source:
SL 2000, ch 231.
2023 South Dakota Codified Laws › Title 57A - Uniform Commercial Code › Chapter 09 - Secured Transactions › Section 57A-9-509 - Authority to file financing statement or amendment adding collateral or debtor.

57A-9-509. Authority to file financing statement or amendment adding collateral or debtor.
(a) A person may file an initial financing statement, amendment that adds collateral covered by a financing statement, or amendment that adds a debtor to a financing statement only if:
(1)The debtor authorizes the filing in an authenticated record or pursuant to subsection (b) or (c); or
(2)The person holds an agricultural lien that has become effective at the time of filing and the financing statement covers only collateral in which the person holds an agricultural lien.
(b) By authenticating or becoming bound as debtor by a security agreement, a debtor or new debtor authorizes the filing of an initial financing statement, and an amendment, covering:
(1)The collateral described in the security agreement; and
(2)Property that becomes collateral under §57A-9-315(a)(2), whether or not the security agreement expressly covers proceeds.
(c) By acquiring collateral in which a security interest or agricultural lien continues under §57A-9-315(a)(1), a debtor authorizes the filing of an initial financing statement, and an amendment, covering the collateral and property that becomes collateral under §57A-9-315(a)(2).
(d) A person may file an amendment other than an amendment that adds collateral covered by a financing statement or an amendment that adds a debtor to a financing statement only if:
(1)The secured party of record authorizes the filing; or
(2)The amendment is a termination statement for a financing statement as to which the secured party of record has failed to file or send a termination statement as required by §57A-9-513(a) or (c), the debtor authorizes the filing, and the termination statement indicates that the debtor authorized it to be filed.
(e) If there is more than one secured party of record for a financing statement, each secured party of record may authorize the filing of an amendment under subsection (d).
Source:
SL 2000, ch 231.
2023 South Dakota Codified Laws › Title 57A - Uniform Commercial Code › Chapter 09 - Secured Transactions › Section 57A-9-510 - Effectiveness of filed record.

57A-9-510. Effectiveness of filed record.
(a) A filed record is effective only to the extent that it was filed by a person that may file it under §57A-9-509.
(b) A record authorized by one secured party of record does not affect the financing statement with respect to another secured party of record.
(c) A continuation statement that is not filed within the period prescribed by §57A-9-515(d) is ineffective.
Source:
SL 2000, ch 231.
2023 South Dakota Codified Laws › Title 57A - Uniform Commercial Code › Chapter 09 - Secured Transactions › Section 57A-9-511 - Person constituting secured party of record.

57A-9-511. Person constituting secured party of record.
(a) A secured party of record with respect to a financing statement is a person whose name is provided as the name of the secured party or a representative of the secured party in an initial financing statement that has been filed. If an initial financing statement is filed under 57A-9-514(a), the assignee named in the initial financing statement is the secured party of record with respect to the financing statement.
(b) If an amendment of a financing statement which provides the name of a person as a secured party or a representative of a secured party is filed, the person named in the amendment is a secured party of record. If an amendment is filed under §57A-9-514(b), the assignee named in the amendment is a secured party of record.
(c) A person remains a secured party of record until the filing of an amendment of the financing statement which deletes the person.
Source:
SL 2000, ch 231.
2023 South Dakota Codified Laws › Title 57A - Uniform Commercial Code › Chapter 09 - Secured Transactions › Section 57A-9-512 - Procedure for amending financing statement--Effectiveness.

57A-9-512. Procedure for amending financing statement--Effectiveness.
(a) Subject to §57A-9-509, a person may add or delete collateral covered by, continue or terminate the effectiveness of, or, subject to subsection (e), otherwise amend the information provided in, a financing statement by filing an amendment that:
(1)Identifies, by its file number, the initial financing statement to which the amendment relates and either the social security number or internal revenue service taxpayer identification number of the debtor; and
(2)If the amendment relates to an initial financing statement filed or recorded in a filing office described in §57A-9-501(a)(1), provides the date and time that the initial financing statement was filed or recorded and the information specified in §57A-9-502(b).
(b) Except as otherwise provided in §57A-9-515, the filing of an amendment does not extend the period of effectiveness of the financing statement.
(c) A financing statement that is amended by an amendment that adds collateral is effective as to the added collateral only from the date of the filing of the amendment.
(d) A financing statement that is amended by an amendment that adds a debtor is effective as to the added debtor only from the date of filing of the amendment.
(e) An amendment is ineffective to the extent it:
(1)Purports to delete all debtors and fails to provide the name of a debtor to be covered by the financing statement; or
(2)Purports to delete all secured parties of record and fails to provide the name of a new secured party of record.
Source:
SL 2000, ch 231.
2023 South Dakota Codified Laws › Title 57A - Uniform Commercial Code › Chapter 09 - Secured Transactions › Section 57A-9-513 - Termination statement.

57A-9-513. Termination statement.
(a) A secured party shall cause the secured party of record for a financing statement to file a termination statement for the financing statement if the financing statement covers consumer goods and:
(1)There is no obligation secured by the collateral covered by the financing statement and no commitment to make an advance, incur an obligation, or otherwise give value; or
(2)The debtor did not authorize the filing of the initial financing statement.
(b) To comply with subsection (a), a secured party shall cause the secured party of record to file the termination statement:
(1)Within one month after there is no obligation secured by the collateral covered by the financing statement and no commitment to make an advance, incur an obligation, or otherwise give value; or
(2)If earlier, within twenty days after the secured party receives an authenticated demand from a debtor.
(c) In cases not governed by subsection (a), within twenty days after a secured party receives an authenticated demand from a debtor, the secured party shall cause the secured party of record for a financing statement to send to the debtor a termination statement for the financing statement or file the termination statement in the filing office if:
(1)Except in the case of a financing statement covering accounts or chattel paper that has been sold or goods that are the subject of a consignment, there is no obligation secured by the collateral covered by the financing statement and no commitment to make an advance, incur an obligation, or otherwise give value;
(2)The financing statement covers accounts or chattel paper that has been sold but as to which the account debtor or other person obligated has discharged its obligation;
(3)The financing statement covers goods that were the subject of a consignment to the debtor but are not in the debtor's possession; or
(4)The debtor did not authorize the filing of the initial financing statement.
(d) Except as otherwise provided in §57A-9-510, upon the filing of a termination statement with the filing office, the financing statement to which the termination statement relates ceases to be effective. Except as otherwise provided in §57A-9-510, for purposes of §§57A-9-519(g), 57A-9-522(a), and 57A-9-523(c), the filing with the filing office of a termination statement relating to a financing statement that indicates that the debtor is a transmitting utility also causes the effectiveness of the financing statement to lapse.
Source:
SL 2000, ch 231.
2023 South Dakota Codified Laws › Title 57A - Uniform Commercial Code › Chapter 09 - Secured Transactions › Section 57A-9-514 - Assignment of secured party's power to authorize amendment--Assignment of record of security's interest in fixture.

57A-9-514. Assignment of secured party's power to authorize amendment--Assignment of record of security's interest in fixture.
(a) Except as otherwise provided in subsection (c), an initial financing statement may reflect an assignment of all of the secured party's power to authorize an amendment to the financing statement by providing the name and mailing address of the assignee as the name and address of the secured party.
(b) Except as otherwise provided in subsection (c), a secured party of record may assign of record all or part of its power to authorize an amendment to a financing statement by filing in the filing office an amendment of the financing statement which:
(1)Identifies, by its file number, the initial financing statement to which it relates;
(2)Provides the name of the assignor; and
(3)Provides the name and mailing address of the assignee.
(c) An assignment of record of a security interest in a fixture covered by a record of a mortgage which is effective as a financing statement filed as a fixture filing under §57A-9-502(c) may be made only by an assignment of record of the mortgage in the manner provided by law of this state other than the Uniform Commercial Code.
Source:
SL 2000, ch 231.
2023 South Dakota Codified Laws › Title 57A - Uniform Commercial Code › Chapter 09 - Secured Transactions › Section 57A-9-518 - Information statement regarding record.

57A-9-518. Information statement regarding record.
(a) A person may file in the filing office an information statement with respect to a record indexed there under the person's name if the person believes that the record is inaccurate or was wrongfully filed.
(b) An information statement under subsection (a) must:
(1)Identify the record to which it relates by:
(A)The file number assigned to the initial financing statement to which the record relates; and
(B)If the information statement relates to a record filed or recorded in a filing office described in §57A-9-501(a)(1), the date and time that the initial financing statement was filed or recorded and the information specified in §57A-9-502(b);
(2)Indicate that it is an information statement; and
(3)Provide the basis for the person's belief that the record is inaccurate and indicate the manner in which the person believes the record should be amended to cure any inaccuracy or provide the basis for the person's belief that the record was wrongfully filed.
(c) A person may file in the filing office an information statement with respect to a record filed there if the person is a secured party of record with respect to the financing statement to which the record relates and believes that the person that filed the record was not entitled to do so under §57A-9-509(d).
(d) An information statement under subsection (c) must:
(1)Identify the record to which it relates by:
(A)The file number assigned to the initial financing statement to which the record relates; and
(B)If the statement relates to a record filed or recorded in a filing office described in §57A-9-501(a)(1), the date and time that the initial financing statement was filed or recorded and the information specified in §57A-9-502(b);
(2)Indicate that it is an information statement; and
(3)Provide the basis for the person's belief that the person that filed the record was not entitled to do so under §57A-9-509(d).
(e) The filing of an information statement does not affect the effectiveness of an initial financing statement or other filed record.
Source:
SL 2000, ch 231; SL 2012, ch 238, §15, eff. July 1, 2013.
2023 South Dakota Codified Laws › Title 57A - Uniform Commercial Code › Chapter 09 - Secured Transactions › Section 57A-9-520 - Refusal by filing office to accept record.

57A-9-520. Refusal by filing office to accept record.
(a) A filing office shall refuse to accept a record for filing for a reason set forth in §57A-9-516(b) and may refuse to accept a record for filing only for a reason set forth in §57A-9-516(b).
(b) If a filing office refuses to accept a record for filing, it shall communicate to the person that presented the record the fact of and reason for the refusal and the date and time the record would have been filed had the filing office accepted it. The communication must be made at the time and in the manner prescribed by filing-office rule but, in the case of a filing office described in §57A-9-501(a)(2), in no event more than two business days after the filing office receives the record.
(c) A filed financing statement satisfying §57A-9-502(a) and (b) is effective, even if the filing office is required to refuse to accept it for filing under subsection (a). However, §57A-9-338 applies to a filed financing statement providing information described in §57A-9-516(b)(5) which is incorrect at the time the financing statement is filed.
(d) If a record communicated to a filing office provides information that relates to more than one debtor, this part applies as to each debtor separately.
Source:
SL 2000, ch 231.
2023 South Dakota Codified Laws › Title 57A - Uniform Commercial Code › Chapter 09 - Secured Transactions › Section 57A-9-521 - Forms for financing statement, amendment to statement, and addendum for either.

57A-9-521. Forms for financing statement, amendment to statement, and addendum for either.
(a) A filing office that accepts written records may not refuse to accept a written initial financing statement in the following form and format except for a reason set forth in §57A-9-516(b).
(b) A filing office that accepts written records may not refuse to accept a written record in the following form and format except for a reason set forth in §57A-9-516(b).
Source:
SL 2000, ch 231; SL 2012, ch 238, §16, eff. July 1, 2013.
2023 South Dakota Codified Laws › Title 57A - Uniform Commercial Code › Chapter 09 - Secured Transactions › Section 57A-9-522 - Required retention of information from financing statement--Destruction of written record.

57A-9-522. Required retention of information from financing statement--Destruction of written record.
(a) The filing office shall maintain a record of the information provided in a filed financing statement for at least one year after the effectiveness of the financing statement has lapsed under §57A-9-515 with respect to all secured parties of record. The record must be retrievable by using the name of the debtor and:
(1)If the record was filed or recorded in the filing office described in §57A-9-501(a)(1), by using the file number assigned to the initial financing statement to which the record relates and the date and time that the record was filed or recorded; or
(2)If the record was filed in the filing office described in §57A-9-501(a)(2), by using the file number assigned to the initial financing statement to which the record relates.
(b) Except to the extent that a statute governing disposition of public records provides otherwise, the filing office immediately may destroy any written record evidencing a financing statement. However, if the filing office destroys a written record, it shall maintain another record of the financing statement which complies with subsection (a).
Source:
SL 2000, ch 231.
2023 South Dakota Codified Laws › Title 57A - Uniform Commercial Code › Chapter 09 - Secured Transactions › Section 57A-9-524 - Excuses for filing office failure to meet time limits.

57A-9-524. Excuses for filing office failure to meet time limits.
Delay by the filing office beyond a time limit prescribed by this part is excused if:
(1)The delay is caused by interruption of communication or computer facilities, war, emergency conditions, failure of equipment, or other circumstances beyond control of the filing office; and
(2)The filing office exercises reasonable diligence under the circumstances.
Source:
SL 2000, ch 231.
2023 South Dakota Codified Laws › Title 57A - Uniform Commercial Code › Chapter 09 - Secured Transactions › Section 57A-9-525 - Fees for filing and indexing records.

57A-9-525. Fees for filing and indexing records.
(a) Except as otherwise provided in subsection (e), the fee for filing and indexing a record under this part, other than an initial financing statement of the kind described in subsection (b), is the amount specified in subsection (c), if applicable, plus:
(1)Twenty-five dollars if the record is communicated in writing and consists of one page, and five dollars for additional pages. One dollar of this fee shall be deposited into the financing statement and annual report filing fee fund;
(2)Twenty dollars if the record is communicated by internet. One dollar of this fee shall be deposited into the financing statement and annual report filing fee fund; and
(3)Twenty-five dollars if the record is communicated by another medium authorized by filing-office rule.
(b) The secretary of state may request a fee for on-line services for UCC data images available on a subscription basis. The office shall deposit any revenue from this fee into the financing statement and annual report filing fee fund.
(c) Except as otherwise provided in subsection (e), the fee for filing, whether communicated in writing, electronically, or another medium authorized by filing-office rule, and indexing an initial financing statement of the following kind is the amount specified in subsection (c), if applicable, plus:
(1)Forty dollars if the financing statement indicates that it is filed in connection with a public-finance transaction;
(2)Forty dollars if the financing statement indicates that it is filed in connection with a manufactured-home transaction.
(d) Except as otherwise provided in subsection (e), if a record is communicated in writing or electronically, the fee for each name more than one required to be indexed is three dollars.
(e) The fee for responding to a request for information from the filing office, including for issuing a certificate showing whether there is on file any financing statement naming a particular debtor, is:
(1)Twenty dollars if the request is communicated in writing; and
(2)Ten dollars if the request is communicated by internet authorized by filing-office rule.
Upon request the filing officer shall furnish a copy of any filed financing statement or statement of assignment for a uniform fee of one dollar per page.
(f) This section does not require a fee with respect to a record of a mortgage which is effective as a financing statement filed as a fixture filing or as a financing statement covering as-extracted collateral or timber to be cut under §57A-9-502(c). However, the recording and satisfaction fees that otherwise would be applicable to the record of the mortgage apply.
Source:
SL 2000, ch 231; SL 2001, ch 262, §1; SL 2003, ch 8, §29; SL 2009, ch 4, §24; SL 2009, ch 256, §2; SL 2016, ch 2, §12.
2023 South Dakota Codified Laws › Title 57A - Uniform Commercial Code › Chapter 09 - Secured Transactions › Section 57A-9-525.1 - Effect of filing with register of deeds prior to July 1, 1986--Continuation or amendment thereof.

57A-9-525.1. Effect of filing with register of deeds prior to July 1, 1986--Continuation or amendment thereof.
For the purposes of former §57A-9-401, a filing made in the county office of register of deeds prior to July 1, 1986, which has not lapsed prior to July 1, 1986, shall remain effective for the period provided by this title. Any continuation of or amendment to such filing shall be made with the secretary of state. Such central filing shall be accompanied by a certified copy of the original filed financing statement.
Source:
SL 2000, ch 231.
2023 South Dakota Codified Laws › Title 57A - Uniform Commercial Code › Chapter 09 - Secured Transactions › Section 57A-9-525.2 - Central filing system--Promulgation of regulations.

57A-9-525.2. Central filing system--Promulgation of regulations.
The secretary of state may promulgate all necessary regulations under the provisions of chapter 1-26 to implement a central filing system for filing financing statements.
Source:
SL 2000, ch 231.
2023 South Dakota Codified Laws › Title 57A - Uniform Commercial Code › Chapter 09 - Secured Transactions › Section 57A-9-525.3 - Central agricultural security interest filing system--Adoption of rules.

57A-9-525.3. Central agricultural security interest filing system--Adoption of rules.
The secretary of state may adopt rules concerning the operation of the central agricultural security interest computer filing system, prescribing such matters as format for data and the type of information to be recorded from the financing statement.
Source:
SL 2000, ch 231.
2023 South Dakota Codified Laws › Title 57A - Uniform Commercial Code › Chapter 09 - Secured Transactions › Section 57A-9-525.4 - Fee for crop or livestock effective finance statement microfiche master list.

57A-9-525.4. Fee for crop or livestock effective finance statement microfiche master list.
The annual registration fee for the crop or livestock effective finance statement microfiche master list is one hundred twenty dollars.
Source:
SL 2003, ch 8, §30.
2023 South Dakota Codified Laws › Title 57A - Uniform Commercial Code › Chapter 09 - Secured Transactions › Section 57A-9-526 - Rules and practices for filing offices.

57A-9-526. Rules and practices for filing offices.
(a) The secretary of state shall adopt rules to implement this chapter. The filing-office rules must be:
(1)Consistent with this chapter; and
(2)Adopted and published in accordance with chapter 1-26.
(b) To keep the filing-office rules and practices of the filing office in harmony with the rules and practices of filing offices in other jurisdictions that enact substantially this part, and to keep the technology used by the filing office compatible with the technology used by filing offices in other jurisdictions that enact substantially this part, the secretary of state's office, so far as is consistent with the purposes, policies, and provisions of this chapter, in adopting, amending, and repealing filing-office rules, shall:
(1)Consult with filing offices in other jurisdictions that enact substantially this part; and
(2)Consult the most recent version of the Model Rules promulgated by the International Association of Corporate Administrators or any successor organization; and
(3)Take into consideration the rules and practices of, and the technology used by, filing offices in other jurisdictions that enact substantially this part.
Source:
SL 2000, ch 231.
2023 South Dakota Codified Laws › Title 57A - Uniform Commercial Code › Chapter 09 - Secured Transactions › Section 57A-9-527 - Financing statement and annual report filing fee fund.

57A-9-527. Financing statement and annual report filing fee fund.
There is hereby created, within the state treasury, the financing statement and annual report filing fee fund, which is continuously appropriated, to provide funds for the operation of the uniform commercial code program and business services electronic filing and retrieval system within the Office of the Secretary of State.
Source:
SL 2001, ch 262, §2; SL 2009, ch 256, §1.
2023 South Dakota Codified Laws › Title 57A - Uniform Commercial Code › Chapter 09 - Secured Transactions › Section 57A-9-528 - Fees deposited in filing fee fund.

57A-9-528. Fees deposited in filing fee fund.
For each effective financing statement filed under this chapter, three dollars of the fee collected pursuant to §57A-9-525, and the computer search fee assessed pursuant to §57A-9-525, shall be deposited in the financing statement and annual report filing fee fund. For each annual report filed pursuant to §59-11-24 in fiscal years 2010 and 2011, three dollars of the fee collected shall be deposited in the financing statement and annual report filing fee fund. For each annual report filed pursuant to §59-11-24 in fiscal year 2012 and each year thereafter, one dollar of the annual report fee shall be deposited in the financing statement and annual report filing fee fund. For each amendment of an annual report filed pursuant to §59-11-24 in fiscal year 2016 and each year after, the fee for the amendment shall be deposited in the financing statement and annual report filing fee fund. For each application for a certificate of designation filed under §47-34A-707, five dollars of the fee collected shall be deposited in the financing statement and annual report filing fee fund.
Source:
SL 2001, ch 262, § 3; SL 2009, ch 256, § 3; SL 2015, ch 258, § 3, eff. Jan. 1, 2016; SL 2020, ch 200, § 12, eff. Nov. 15, 2020.
2023 South Dakota Codified Laws › Title 57A - Uniform Commercial Code › Chapter 09 - Secured Transactions › Section 57A-9-529 - Disposition of balance of funds.

57A-9-529. Disposition of balance of funds.
At the end of each fiscal year, any funds in the financing statement and annual report filing fee fund, not otherwise appropriated, in excess of twenty-five thousand dollars, shall revert to the general fund.
Source:
SL 2001, ch 262, §4; SL 2009, ch 256, §4.
2023 South Dakota Codified Laws › Title 57A - Uniform Commercial Code › Chapter 09 - Secured Transactions › Section 57A-9-530 - Combined financing statement for farm products.

57A-9-530. Combined financing statement for farm products.
If a filed financing or continuation statement covers farm products or accounts, or livestock, or general intangibles arising from or relating to the sale of farm products by a farmer, or crops growing or to be grown, the secured party may file a standard form to be prescribed by the secretary of state, which may be a combined effective financing statement and a uniform commercial code financing statement.
Source:
SL 2001, ch 262, §5.