S.D. Codified Laws § 57A-9-709

Determination of priority of conflicting claims to collateral--Dating priority of security interest

Known as the Uniform Commercial Code

The act spans §§ 57–57 (574 sections).

Applied in 1 court decision — leading case Consolidated Nutrition, L.C. v. IBP, Inc. (2003)

Most recently applied in Consolidated Nutrition, L.C. v. IBP, Inc. (August 2003)

Source: SL 2000, ch 231.

(a) This chapter determines the priority of conflicting claims to collateral. However, if the relative priorities of the claims were established before July 1, 2001, former chapter 57A-9 determines priority.

(b) For purposes of § 57A-9-322(a), the priority of a security interest that becomes enforceable under § 57A-9-203 of this chapter dates from July 1, 2001, if the security interest is perfected under this chapter by the filing of a financing statement before July 1, 2001, which would not have been effective to perfect the security interest under former chapter 57A-9. This subsection does not apply to conflicting security interests each of which is perfected by the filing of such a financing statement.

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