South Dakota Codified Laws 57A-9-309. Security interests that are perfected when they attach
The following security interests are perfected when they attach:
(1) A purchase–money security interest in consumer goods, except as otherwise provided in § 57A-9-311(b) with respect to consumer goods that are subject to a statute or treaty described in § 57A-9-311(a);
Terms Used In South Dakota Codified Laws 57A-9-309
- Contract: A legal written agreement that becomes binding when signed.
- Decedent: A deceased person.
- Person: includes natural persons, partnerships, associations, cooperative corporations, limited liability companies, and corporations. See South Dakota Codified Laws 2-14-2
- Property: includes property, real and personal. See South Dakota Codified Laws 2-14-2
- Statute: A law passed by a legislature.
(2) An assignment of accounts or payment intangibles which does not by itself or in conjunction with other assignments to the same assignee transfer a significant part of the assignor’s outstanding accounts or payment intangibles;
(3) A sale of a payment intangible;
(4) A sale of a promissory note;
(5) A security interest created by the assignment of a health–care–insurance receivable to the provider of the health–care goods or services;
(6) A security interest arising under § 57A-2-401, 57A-2-505, 57A-2-711(3), or 57A-2A-508(5), until the debtor obtains possession of the collateral;
(7) A security interest of a collecting bank arising under § 57A-4-210;
(8) A security interest of an issuer or nominated person arising under § 57A-5-118;
(9) A security interest arising in the delivery of a financial asset under § 57A-9-206(c);
(10) A security interest in investment property created by a broker or securities intermediary;
(11) A security interest in a commodity contract or a commodity account created by a commodity intermediary;
(12) An assignment for the benefit of all creditors of the transferor and subsequent transfers by the assignee thereunder; and
(13) A security interest created by an assignment of a beneficial interest in a decedent‘s estate.
Source: SL 2000, ch 231.