South Dakota § 57A-9-703 Effect of division on security interests enforceable before July 1, 2001.

South Dakota Statutes

§ 57A-9-703 — Effect of division on security interests enforceable before July 1, 2001.

South Dakota § 57A-9-703

Title 57AUNIFORM COMMERCIAL CODE

Ch. 57A-6SECURED TRANSACTIONS

This text of South Dakota § 57A-9-703 (Effect of division on security interests enforceable before July 1, 2001.) is published on Counsel Stack Legal Research, covering South Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.D. Codified Laws § 57A-9-703 (2026).

Text

(a)A security interest that is enforceable immediately before July 1, 2001, and would have priority over the rights of a person that becomes a lien creditor at that time is a perfected security interest under this chapter if, on July 1, 2001, the applicable requirements for enforceability and perfection under this chapter are satisfied without further action.

(b)Except as otherwise provided in § 57A-9-705 , if, immediately before July 1, 2001, a security interest is enforceable and would have priority over the rights of a person that becomes a lien creditor at that time, but the applicable requirements for enforceability or perfection under this chapter are not satisfied on July 1, 2001, the security interest:

(1)Is a perfected security interest for one year after July 1, 2001;

(2)

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(a) A security interest that is enforceable immediately before July 1, 2001, and would have priority over the rights of a person that becomes a lien creditor at that time is a perfected security interest under this chapter if, on July 1, 2001, the applicable requirements for enforceability and perfection under this chapter are satisfied without further action. (b) Except as otherwise provided in § 57A-9-705 , if, immediately before July 1, 2001, a security interest is enforceable and would have priority over the rights of a person that becomes a lien creditor at that time, but the applicable requirements for enforceability or perfection under this chapter are not satisfied on July 1, 2001, the security interest: (1) Is a perfected security interest for one year after July 1, 2001; (2) Remains enforceable thereafter only if the security interest becomes enforceable under § 57A-9-203 before the year expires; and (3) Remains perfected thereafter only if the applicable requirements for perfection under this chapter are satisfied before the year expires.