South Dakota Statutes
§ 57A-9-104 — Control of deposit account.
(a)A secured party has control of a deposit account if:
(1)The secured party is the bank with which the deposit account is maintained;
(2)The debtor, secured party, and bank have agreed in a signed record that the bank will comply with instructions originated by the secured party directing disposition of the funds in the deposit account without further consent by the debtor;
(3)The secured party becomes the bank's customer with respect to the deposit account; or (4) Another person, other than the debtor:
(A)Has control of the deposit account and acknowledges that it has control on behalf of the secured party; or (B) Obtains control of the deposit account after having acknowledged that it will obtain control of the deposit account on behalf of the secured party.
(b)A
Free access — add to your briefcase to read the full text and ask questions with AI
South Dakota § 57A-9-104 (Control of deposit account.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Related
Rushmore State Bank v. Kurylas, Inc.
424 N.W.2d 649 (South Dakota Supreme Court, 1988)
Consolidated Nutrition, L.C. v. IBP, Inc.
2003 SD 107 (South Dakota Supreme Court, 2003)
In Re Engstrom
33 B.R. 369 (D. South Dakota, 1983)
Maher v. Mortenson (In Re Mortenson)
41 B.R. 827 (D. South Dakota, 1984)
Legislative History
SL 2000, ch 231; SL 2024, ch 198, § 44.
Nearby Sections
15
§ 57A-1-101
Short title.§ 57A-1-102
Scope of chapter.§ 57A-1-104
Construction against implied repeal.§ 57A-1-105
Severability.§ 57A-1-106
Use of singular and plural--Gender.§ 57A-1-107
Section captions.§ 57A-1-201
General definitions.§ 57A-1-202
Notice--Knowledge.§ 57A-1-203
Lease distinguished from security interest.§ 57A-1-204
Value.§ 57A-1-205
Reasonable time--Seasonableness.§ 57A-1-206
Presumptions.§ 57A-1-207
Central bank digital currency.