In transactions entered into after June 30, 1978, and prior to July 1, 1979, whereby the intent of the transaction was to create a security interest pursuant to this title, that security interest shall be deemed to have attached at the time there was agreement that it attach, when value was given, and when the debtor had rights in the collateral, unless an explicit agreement postponed the time of attaching.
S.D. Codified Laws § 57A-9-204.1
Attachment of security interest in transactions entered into between June 30, 1978, and July 1, 1979
Known as the Uniform Commercial Code
The act spans §§ 57A-1-101 to 57A-9-809 (574 sections).
Source: SL 2000, ch 231.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.