§ 57A-9-109 — Application of chapter.

South Dakota § 57A-9-109

• Jurisdiction: South Dakota
• Title 57A: UNIFORM COMMERCIAL CODE
• Ch. 57A-6: SECURED TRANSACTIONS

Text

(a) Except as otherwise provided in subsections (c) and (d), this chapter applies to: (1) A transaction, regardless of its form, that creates a security interest in personal property or fixtures by contract; (2) An agricultural lien; (3) A sale of accounts, chattel paper, payment intangibles, or promissory notes; (4) A consignment; (5) A security interest arising under § 57A-2-401 , 57A-2-505 , 57A-2-711(3), or 57A-2A-508(5), as provided in § 57A-9-110 ; and (6) A security interest arising under § 57A-4-210 or 57A-5-118 . (b) The application of this chapter to a security interest in a secured obligation is not affected by the fact that the obligation is itself secured by a transaction or interest to which this chapter does not apply. (c) This chapter does not apply to the extent that: (1) A statute, regulation, or treaty of the United States preempts this chapter; (2) Another statute of this State governs the creation of a security interest created by this State or a governmental unit of this State; (3) A statute of another state, a foreign country, or a governmental unit of another state or a foreign country, other than a statute generally applicable to security interests, expressly governs creation, perfection, priority, or enforcement of a security interest created by the state, country, or governmental unit; or (4) The rights of a transferee beneficiary or nominated person under a letter of credit are independent and superior under § 57A-5-114 . (d) This chapter does not apply to: (1) A landlord's lien, other than an agricultural lien; (2) A lien, other than an agricultural lien, given by statute or other rule of law for services or materials, but § 57A-9-333 applies with respect to priority of the lien; (3) An assignment of a claim for wages, salary, or other compensation of an employee; (4) A sale of accounts, chattel paper, payment intangibles, or promissory notes as part of a sale of the business out of which they arose; (5) An assignment of accounts, chattel paper, payment intangibles, or promissory notes which is for the purpose of collection only; (6) An assignment of a right to payment under a contract to an assignee that is also obligated to perform under the contract; (7) An assignment of a single account, payment intangible, or promissory note to an assignee in full or partial satisfaction of a preexisting indebtedness; (8) A transfer of an interest in or an assignment of a claim under a policy of insurance, other than an assignment by or to a health-care provider of a health-care-insurance receivable and any subsequent assignment of the right to payment, but §§ 57A-9-315 and 57A-9-322 apply with respect to proceeds and priorities in proceeds; (9) An assignment of a right represented by a judgment, other than a judgment taken on a right to payment that was collateral; (10) A right of recoupment or set-off, but: (A) Section 57A-9-340 applies with respect to the effectiveness of rights of recoupment or set-off against deposit accounts; and (B) Section 57A-9-404 applies with respect to defenses or claims of an account debtor; (11) The creation or transfer of an interest in or lien on real property, including a lease or rents thereunder, except to the extent that provision is made for: (A) Liens on real property in §§ 57A-9-203 and 57A-9-308 ; (B) Fixtures in § 57A-9-334 ; (C) Fixture filings in §§ 57A-9-501 , 57A-9-502 , 57A-9-512 , 57A-9-516 , and 57A-9-519 ; and (D) Security agreements covering personal and real property in § 57A-9-604 ; (12) An assignment of a claim arising in tort, other than a commercial tort claim, but §§ 57A-9-315 and 57A-9-322 apply with respect to proceeds and priorities in proceeds; (13) A transfer or security interest made or created by a state or any governmental unit; (14) An assignment of a deposit account in a consumer transaction, but §§ 57A-9-315 and 57A-9-322 apply with respect to proceeds and priorities in proceeds; (15) The pledging or segregating of collateral for public deposits as authorized by § 51A-10-9 , chapter 52-5 , and chapter 4-6A ; (16) An assignment of a claim or right to receive compensation for injuries or sickness as described in 26 U.S.C. § 104(a)(1) or (2), as amended to January 1, 2001; or (17) An assignment of a claim or right to receive benefits under a special needs trust as described in 42 U.S.C. § 1396p(d)(4), as amended to January 1, 2001.

Legislative History

SL 2000, ch 231; SL 2001, ch 261, § 2.