Public-domain · open source

S.D. Codified Laws § 57A-9-306.2

Law governing perfection and priority of security interests in controllable accounts, controllable electronic records, and controllable payment intangibles

Known as the Uniform Commercial Code

The act spans §§ 57A-1-101 to 57A-9-809 (574 sections).

Source: SL 2024, ch 198, § 59.

(a) Except as provided in subsection (b), the local law of the controllable electronic record's jurisdiction specified in § 57A-12-107 governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in a controllable electronic record and a security interest in a controllable account or controllable payment intangible evidenced by the controllable electronic record.

(b) The local law of the jurisdiction in which the debtor is located governs:

(1) Perfection of a security interest in a controllable account, controllable electronic record, or controllable payment intangible by filing; and

(2) Automatic perfection of a security interest in a controllable payment intangible created by a sale of the controllable payment intangible.

Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.