South Dakota Codified Laws 57A-9-605. Duty of secured party to unknown debtor or obligor or unknown secured party or lienholder
Current as of: 2023 | Check for updates
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A secured party does not owe a duty based on its status as secured party:
(1) To a person that is a debtor or obligor, unless the secured party knows:
Terms Used In South Dakota Codified Laws 57A-9-605
- Person: includes natural persons, partnerships, associations, cooperative corporations, limited liability companies, and corporations. See South Dakota Codified Laws 2-14-2
(A) That the person is a debtor or obligor;
(B) The identity of the person; and
(C) How to communicate with the person; or
(2) To a secured party or lienholder that has filed a financing statement against a person, unless the secured party knows:
(A) That the person is a debtor; and
(B) The identity of the person.
Source: SL 2000, ch 231.