South Dakota Statutes
§ 57A-9-617 — Rights of transferee of collateral disposed of after default.
(a)A secured party's disposition of collateral after default:
(1)Transfers to a transferee for value all of the debtor's rights in the collateral;
(2)Discharges the security interest under which the disposition is made; and (3) Discharges any subordinate security interest or other subordinate lien, other than liens created by law that are not to be discharged.
(b)A transferee that acts in good faith takes free of the rights and interests described in subsection (a), even if the secured party fails to comply with this chapter or the requirements of any judicial proceeding.
(c)If a transferee does not take free of the rights and interests described in subsection (a), the transferee takes the collateral subject to:
(1)The debtor's rights in the collateral;
(2)The securit
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South Dakota § 57A-9-617 (Rights of transferee of collateral disposed of after default.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
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.