South Dakota Codified Laws 32-3-39. Deposit of security interest instrument not required
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The provisions of chapters 44-10, 44-11, and §§ 57A-9-501 to 57A-9-530, inclusive, shall not be construed to apply to or to permit or require the deposit, filing, or other record whatsoever, of a chattel mortgage, conveyance intended to operate as a mortgage, conditional sales contract, mechanic’s lien, or similar instrument, (herein referred to as liens) or any copy of the same covering a motor vehicle, trailer, or semitrailer, executed and delivered after July 1, 1951.
Terms Used In South Dakota Codified Laws 32-3-39
- Contract: A legal written agreement that becomes binding when signed.
- Lien: A claim against real or personal property in satisfaction of a debt.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
Source: SDC 1939, § 44.0203 (1) as added by SL 1951, ch 229, § 3; SL 1965, ch 186, § 3.