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S.D. Codified Laws § 57A-9-505

Filing by bailor of goods, licensor, or buyer of payment intangible or promissory note

Known as the Uniform Commercial Code

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

Applied in 1 court decision — leading case First Dakota National Bank v. Gregg (2021)

Most recently applied in First Dakota National Bank v. Gregg (September 2021)

Source: SL 2000, ch 231.

(a) A consignor, lessor, or other bailor of goods, a licensor, or a buyer of a payment intangible or promissory note may file a financing statement, or may comply with a statute or treaty described in § 57A-9-311(a), using the terms "consignor", "consignee", "lessor", "lessee", "bailor", "bailee", "licensor", "licensee", "owner", "registered owner", "buyer", "seller", or words of similar import, instead of the terms "secured party" and "debtor".

(b) This part applies to the filing of a financing statement under subsection (a) and, as appropriate, to compliance that is equivalent to filing a financing statement under § 57A-9-311(b), but the filing or compliance is not of itself a factor in determining whether the collateral secures an obligation. If it is determined for another reason that the collateral secures an obligation, a security interest held by the consignor, lessor, bailor, licensor, owner, or buyer which attaches to the collateral is perfected by the filing or compliance.

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