<html> <head> <title>Rule 05:04:04:01 Definitions.</title> <META NAME="Keywords" Content="Administrative Rules 05:04:04:01"> <META NAME="Description" Content="Administrative Rules 05:04:04:01 Definitions."> <meta http-equiv=Content-Type content="text/html; charset=windows-1252"> <meta name=Generator content="Microsoft Word 15 (filtered)"> <style> <!-- /* Font Definitions */ @font-face {font-family:"Cambria Math"; panose-1:2 4 5 3 5 4 6 3 2 4;} /* Style Definitions */ p.MsoNormal, li.MsoNormal, div.MsoNormal {margin:0in; margin-bottom:.0001pt; font-size:10.0pt; font-family:"Times New Roman",serif; color:black;} a:link, span.MsoHyperlink {color:blue; text-decoration:underline;} a:visited, span.MsoHyperlinkFollowed {color:#954F72; text-decoration:underline;} .MsoChpDefault {font-size:10.0pt; color:black;} @page WordSection1 {size:8.5in 11.0in; margin:1.0in 1.0in 1.0in 1.0in;} div.WordSection1 {page:WordSection1;} --> </style> </head> <body lang=EN-US link=blue vlink="#954F72"> <div class=WordSection1> <p class=MsoNormal style='text-align:justify'><span style='font-size:12.0pt'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>5:04:04:01.&nbsp;&nbsp;Definitions.</b> Terms used in this chapter mean:</span></p> <p class=MsoNormal style='text-align:justify'><span style='font-size:12.0pt'>&nbsp;</span></p> <p class=MsoNormal style='text-align:justify'><span style='font-size:12.0pt'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1)&nbsp;&nbsp;&quot;Amendment,&quot; a UCC record that amends the information contained in a financing statement. Amendments may include assignments as well as one or more amendments. However, continuations and terminations must be separate statements;</span></p> <p class=MsoNormal style='text-align:justify'><span style='font-size:12.0pt'>&nbsp;</span></p> <p class=MsoNormal style='text-align:justify'><span style='font-size:12.0pt'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2)&nbsp;&nbsp;&quot;Assignment,&quot; an amendment that assigns all or a part of a secured party's power to authorize an amendment to a financing statement;</span></p> <p class=MsoNormal style='text-align:justify'><span style='font-size:12.0pt'>&nbsp;</span></p> <p class=MsoNormal style='text-align:justify'><span style='font-size:12.0pt'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3)&nbsp;&nbsp;&quot;Continuation statement,&quot; shall have the meaning prescribed by SDCL subdivision <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=57A-9-102">57A-9-102(27)</A>;</span></p> <p class=MsoNormal style='text-align:justify'><span style='font-size:12.0pt'>&nbsp;</span></p> <p class=MsoNormal style='text-align:justify'><span style='font-size:12.0pt'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4)&nbsp;&nbsp;&quot;Dakota Fast File</span><span style='font-size:12.0pt'> 2</span><span style='font-size: 12.0pt'>,&quot; (DFF</span><span style='font-size:12.0pt'> 2</span><span style='font-size:12.0pt'>) is a computer access program which allows instant access to all UCC and EFS filings in the Secretary of State's office via internet;</span></p> <p class=MsoNormal style='text-align:justify'><span style='font-size:12.0pt'>&nbsp;</span></p> <p class=MsoNormal style='text-align:justify'><span style='font-size:12.0pt'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (</span><span style='font-size:12.0pt'>5</span><span style='font-size:12.0pt'>)&nbsp;&nbsp;&quot;Effective Financing Statement,&quot; (EFS) shall have the meaning prescribed by Section 7 USCA &#167;&nbsp;1631(c)(4), in effect on July 1, 2001;</span></p> <p class=MsoNormal style='text-align:justify'><span style='font-size:12.0pt'>&nbsp;</span></p> <p class=MsoNormal style='text-align:justify'><span style='font-size:12.0pt'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (</span><span style='font-size:12.0pt'>6</span><span style='font-size:12.0pt'>)&nbsp;&nbsp;&quot;File number,&quot; shall have the meaning prescribed by SDCL subdivision <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=57A-9-519">57A-9-519(</A></span><span style='font-size:12.0pt'>a</span><span style='font-size:12.0pt'>);</span></p> <p class=MsoNormal style='text-align:justify'><span style='font-size:12.0pt'>&nbsp;</span></p> <p class=MsoNormal style='text-align:justify'><span style='font-size:12.0pt'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (</span><span style='font-size:12.0pt'>7</span><span style='font-size:12.0pt'>)&nbsp;&nbsp;&quot;Filing office&quot; and &quot;filing officer,&quot; the Office of Secretary of State and the secretary of state;</span></p> <p class=MsoNormal style='text-align:justify'><span style='font-size:12.0pt'>&nbsp;</span></p> <p class=MsoNormal style='text-align:justify'><span style='font-size:12.0pt'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (</span><span style='font-size:12.0pt'>8</span><span style='font-size:12.0pt'>)&nbsp;&nbsp;&quot;Filing office</span><span style='font-size:12.0pt'> correction</span><span style='font-size:12.0pt'> statement,&quot;</span><span style='font-size:12.0pt'> &quot;a/k/a correction statement,&quot;</span><span style='font-size:12.0pt'> a statement entered into the filing office's information system</span><span style='font-size:12.0pt'> by the filing office</span><span style='font-size: 12.0pt'> to correct an error by the filing office;</span></p> <p class=MsoNormal style='text-align:justify'><span style='font-size:12.0pt'>&nbsp;</span></p> <p class=MsoNormal style='text-align:justify'><span style='font-size:12.0pt'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (</span><span style='font-size:12.0pt'>9</span><span style='font-size:12.0pt'>)&nbsp;&nbsp;&quot;Financing statement,&quot; shall have the meaning prescribed by SDCL subdivision <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=57A-9-102">57A-9-102(39)</A>;</span></p> <p class=MsoNormal style='text-align:justify'><span style='font-size:12.0pt'>&nbsp;</span></p> <p class=MsoNormal style='text-align:justify'><span style='font-size:12.0pt'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1</span><span style='font-size:12.0pt'>0</span><span style='font-size:12.0pt'>)&nbsp;&nbsp;&quot;Individual,&quot; a human being or a decedent in the case of a debtor that is such decedent's estate;</span></p> <p class=MsoNormal style='text-align:justify'><span style='font-size:12.0pt'>&nbsp;</span></p> <p class=MsoNormal style='text-align:justify'><span style='font-size:12.0pt'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span><span style='font-size:12.0pt'>(11)&nbsp;&nbsp;&quot;Information statement,&quot; a UCC record submitted by a secured party or debtor that indicates that a financing statement is inaccurate or wrongfully filed;</span></p> <p class=MsoNormal style='text-align:justify'><span style='font-size:12.0pt'>&nbsp;</span></p> <p class=MsoNormal style='text-align:justify'><span style='font-size:12.0pt'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (12)&nbsp;&nbsp;&quot;Initial financing statement,&quot; a UCC record containing the information required on an initial financing statement that causes the filing office to establish the initial record of existence of a financing statement;</span></p> <p class=MsoNormal style='text-align:justify'><span style='font-size:12.0pt'>&nbsp;</span></p> <p class=MsoNormal style='text-align:justify'><span style='font-size:12.0pt'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (13)&nbsp;&nbsp;&quot;Organization,&quot; a legal person who is not an individual;</span></p> <p class=MsoNormal style='text-align:justify'><span style='font-size:12.0pt'>&nbsp;</span></p> <p class=MsoNormal style='text-align:justify'><span style='font-size:12.0pt'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (14)&nbsp;&nbsp;&quot;Remitter,&quot; a person who tenders a UCC record to the filing office for filing, whether the person is a filer or an agent of a filer responsible for tendering the record for filing. However, does not include a person responsible merely for the delivery of the record to the filing office, such as the postal service or a courier service but does include a service provider who acts as a filer's representative in the filing process;</span></p> <p class=MsoNormal style='text-align:justify'><span style='font-size:12.0pt'>&nbsp;</span></p> <p class=MsoNormal style='text-align:justify'><span style='font-size:12.0pt'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (15)&nbsp;&nbsp;&quot;Secured party of record,&quot; shall have the meaning prescribed in SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=57A-9-511">57A-9-511</A>;</span></p> <p class=MsoNormal style='text-align:justify'><span style='font-size:12.0pt'>&nbsp;</span></p> <p class=MsoNormal style='text-align:justify'><span style='font-size:12.0pt'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (16)&nbsp;&nbsp;&quot;Termination statement,&quot; shall have the meaning prescribed by SDCL subdivision <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=57A-9-102">57A-9-102(</A></span><span style='font-size:12.0pt'>80</span><span style='font-size:12.0pt'>);</span></p> <p class=MsoNormal style='text-align:justify'><span style='font-size:12.0pt'>&nbsp;</span></p> <p class=MsoNormal style='text-align:justify'><span style='font-size:12.0pt'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (17)&nbsp;&nbsp;&quot;UCC,&quot; the Uniform Commercial Code as adopted in this state;</span></p> <p class=MsoNormal style='text-align:justify'><span style='font-size:12.0pt'>&nbsp;</span></p> <p class=MsoNormal style='text-align:justify'><span style='font-size:12.0pt'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (18)&nbsp;&nbsp;&quot;UCC record,&quot; an initial financing statement, an amendment, an assignment, a continuation, a termination, or a</span><span style='font-size:12.0pt'>n</span><span style='font-size:12.0pt'> </span><span style='font-size:12.0pt'>information</span><span style='font-size:12.0pt'> statement and may not be deemed to refer exclusively to paper or paper-based writings.</span></p> <p class=MsoNormal style='text-align:justify'><span style='font-size:12.0pt'>&nbsp;</span></p> <p class=MsoNormal style='text-align:justify'><span style='font-size:12.0pt'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>Source:</b> 28 SDR 23, effective July 18, 2001</span><span style='font-size:12.0pt'>; 42 SDR 177, effective June 30, 2016</span><span style='font-size:12.0pt'>.</span></p> <p class=MsoNormal style='text-align:justify'><span style='font-size:12.0pt'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>General Authority:</b> SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=57A-9-526">57A-9-526.</A></span></p> <p class=MsoNormal style='text-align:justify'><span style='font-size:12.0pt'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>Law Implemented:</b> SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=57A-9-525.2">57A-9-525.2.</A></span></p> <p class=MsoNormal style='text-align:justify'><span style='font-size:12.0pt'>&nbsp;</span></p> </div> </body> </html>