South Dakota § 57A-9-325 Subordination of security interest created by debtor to security interest created by another person.

South Dakota Statutes

§ 57A-9-325 — Subordination of security interest created by debtor to security interest created by another person.

South Dakota·Title 57A UNIFORM COMMERCIAL CODE·Ch. 57A-6 SECURED TRANSACTIONS

(a)Except as otherwise provided in subsection (b), a security interest created by a debtor is subordinate to a security interest in the same collateral created by another person if:

(1)The debtor acquired the collateral subject to the security interest created by the other person;

(2)The security interest created by the other person was perfected when the debtor acquired the collateral; and (3) There is no period thereafter when the security interest is unperfected.

(b)Subsection (a) subordinates a security interest only if the security interest:

(1)Otherwise would have priority solely under § 57A-9-322(a) or 57A-9-324 ; or (2) Arose solely under § 57A-2-711(3) or 57A-2A-508(5).

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(a) Except as otherwise provided in subsection (b), a security interest created by a debtor is subordinate to a security interest in the same collateral created by another person if: (1) The debtor acquired the collateral subject to the security interest created by the other person; (2) The security interest created by the other person was perfected when the debtor acquired the collateral; and (3) There is no period thereafter when the security interest is unperfected. (b) Subsection (a) subordinates a security interest only if the security interest: (1) Otherwise would have priority solely under § 57A-9-322(a) or 57A-9-324 ; or (2) Arose solely under § 57A-2-711(3) or 57A-2A-508(5).

South Dakota § 57A-9-325 (Subordination of security interest created by debtor to security interest created by another person.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.