The county treasurer, upon receipt of a lien or title instrument duly executed in the manner prescribed by law governing such instruments, together with the fee prescribed for notation thereof which is nonrefundable, shall notify the holder of the certificate of title to deliver to the treasurer, within fifteen days from the date of notice, the certificate of title to permit notation of the lien, and if necessary, the issuance of a new certificate of title. After the notation of the lien, the treasurer shall deliver the certificate of title to the owner or as otherwise directed by the owner. The secured party shall be mailed or delivered notification of the party’s security interest as filed and noted on the certificate of title. Any holder of the certificate of title who refuses to deliver the certificate of title to the treasurer for purposes of showing the lien on the certificate of title within fifteen days from the date notified to do so by the treasurer is liable for damages to the lien holder for the amount of damage the lien holder suffered by reason of the holder of the certificate of title refusing to permit the showing of the lien on the certificate of title.

Source: SL 1993, ch 322, § 29; SDCL 42-8-97; SL 2003, ch 160, § 11.