South Dakota Statutes
§ 57A-9-318 — Effect of sale of collateral on rights of debtor.
(a)A debtor that has sold an account, chattel paper, payment intangible, or promissory note does not retain a legal or equitable interest in the collateral sold.
(b)For purposes of determining the rights of creditors of, and purchasers for value of an account or chattel paper from, a debtor that has sold an account or chattel paper, while the buyer's security interest is unperfected, the debtor is deemed to have rights and title to the account or chattel paper identical to those the debtor sold.
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South Dakota § 57A-9-318 (Effect of sale of collateral on rights of debtor.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Related
Baldwin v. First National Bank of the Black Hills
362 N.W.2d 85 (South Dakota Supreme Court, 1985)
Consolidated Nutrition, L.C. v. IBP, Inc.
2003 SD 107 (South Dakota Supreme Court, 2003)
Legislative History
SL 2000, ch 231.
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.