South Dakota § 57A-9-333 "Possessory lien"--Priority over security interest.

South Dakota Statutes

§ 57A-9-333 — "Possessory lien"--Priority over security interest.

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

(a)In this section, "possessory lien" means an interest, other than a security interest or an agricultural lien:

(1)Which secures payment or performance of an obligation for services or materials furnished with respect to goods by a person in the ordinary course of the person's business;

(2)Which is created by statute or rule of law in favor of the person; and (3) Whose effectiveness depends on the person's possession of the goods.

(b)A possessory lien on goods has priority over a security interest in the goods unless the lien is created by a statute that expressly provides otherwise.

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(a) In this section, "possessory lien" means an interest, other than a security interest or an agricultural lien: (1) Which secures payment or performance of an obligation for services or materials furnished with respect to goods by a person in the ordinary course of the person's business; (2) Which is created by statute or rule of law in favor of the person; and (3) Whose effectiveness depends on the person's possession of the goods. (b) A possessory lien on goods has priority over a security interest in the goods unless the lien is created by a statute that expressly provides otherwise.

South Dakota § 57A-9-333 ("Possessory lien"--Priority over security interest.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.