<html xmlns="http://www.w3.org/1999/xhtml" lang="en-US"><head><meta charset="UTF-8"><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 57A-9-301 - Law governing perfection and priority of security interests.</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s07d19e8628504c9890ed391727fd49abNormal { text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s07d19e8628504c9890ed391727fd49abSENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s07d19e8628504c9890ed391727fd49abCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s07d19e8628504c9890ed391727fd49abStatute { text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; 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font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s07d19e8628504c9890ed391727fd49abDefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s07d19e8628504c9890ed391727fd49abSCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } body { text-decoration-skip-ink: none; } </style><meta name="viewport" content="width=device-width, initial-scale=1"><meta name="twitter:card" content="summary"><meta property="og:title" content="SD 57A-9-301 - Law governing perfection and priority of security interests."><meta property="og:description" content="SDLRC Codified Law 57A-9-301 - Law governing perfection and priority of security interests."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/57A-9-301"><meta property="og:image" content="https://lawmakerdocuments.blob.core.usgovcloudapi.net/photos/logoshape.webp"><meta property="og:site_name" content="South Dakota Legislature"></head><body><div><p dir="ltr" class="s07d19e8628504c9890ed391727fd49abNormal"><a href="https://sdlegislature.gov/Statutes?Statute=57A-9-301" rel="noopener"><span class="s07d19e8628504c9890ed391727fd49abSENU">57A-9-301</span></a><span xml:space="preserve" class="s07d19e8628504c9890ed391727fd49abSENU">. </span><span class="s07d19e8628504c9890ed391727fd49abCL">Law governing perfection and priority of security interests.</span></p><p dir="ltr" class="s07d19e8628504c9890ed391727fd49abStatute"><span xml:space="preserve" class="s07d19e8628504c9890ed391727fd49abDefaultParagraphFont">Except as otherwise provided in §§ </span><a href="https://sdlegislature.gov/Statutes?Statute=57A-9-303" rel="noopener"><span class="s07d19e8628504c9890ed391727fd49abDefaultParagraphFont">57A-9-303</span></a><span xml:space="preserve" class="s07d19e8628504c9890ed391727fd49abDefaultParagraphFont"> through </span><a href="https://sdlegislature.gov/Statutes?Statute=57A-9-306.2" rel="noopener"><span class="s07d19e8628504c9890ed391727fd49abDefaultParagraphFont">57A-9-306.2</span></a><span class="s07d19e8628504c9890ed391727fd49abDefaultParagraphFont">, the following rules determine the law governing perfection, the effect of perfection or nonperfection, and the priority of a security interest in collateral:</span></p><p dir="ltr" class="s07d19e8628504c9890ed391727fd49abStatuteNumber1"><span class="s07d19e8628504c9890ed391727fd49abDefaultParagraphFont">(1)    Except as otherwise provided in this section, while a debtor is located in a jurisdiction, the local law of that jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in collateral.</span></p><p dir="ltr" class="s07d19e8628504c9890ed391727fd49abStatuteNumber1"><span class="s07d19e8628504c9890ed391727fd49abDefaultParagraphFont">(2)    While collateral is located in a jurisdiction, the local law of that jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority of a possessory security interest in that collateral.</span></p><p dir="ltr" class="s07d19e8628504c9890ed391727fd49abStatuteNumber1"><span class="s07d19e8628504c9890ed391727fd49abDefaultParagraphFont">(3)    Except as otherwise provided in paragraph (4), while negotiable tangible documents, goods, instruments, or tangible money is located in a jurisdiction, the local law of that jurisdiction governs:</span></p><p dir="ltr" class="s07d19e8628504c9890ed391727fd49abStatuteNumber2"><span class="s07d19e8628504c9890ed391727fd49abDefaultParagraphFont">(A)    Perfection of a security interest in the goods by filing a fixture filing;</span></p><p dir="ltr" class="s07d19e8628504c9890ed391727fd49abStatuteNumber2"><span class="s07d19e8628504c9890ed391727fd49abDefaultParagraphFont">(B)    Perfection of a security interest in timber to be cut; and</span></p><p dir="ltr" class="s07d19e8628504c9890ed391727fd49abStatuteNumber2"><span class="s07d19e8628504c9890ed391727fd49abDefaultParagraphFont">(C)    The effect of perfection or nonperfection and the priority of a nonpossessory security interest in the collateral.</span></p><p dir="ltr" class="s07d19e8628504c9890ed391727fd49abStatuteNumber1"><span class="s07d19e8628504c9890ed391727fd49abDefaultParagraphFont">(4)    The local law of the jurisdiction in which the wellhead or minehead is located governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in as-extracted collateral.</span></p><p dir="ltr" class="s07d19e8628504c9890ed391727fd49abNormal"><span xml:space="preserve" class="s07d19e8628504c9890ed391727fd49ab000000"> </span></p><p dir="ltr" class="s07d19e8628504c9890ed391727fd49abNoIndent"><span xml:space="preserve" class="s07d19e8628504c9890ed391727fd49abDefaultParagraphFont-000001">Source: </span><span class="s07d19e8628504c9890ed391727fd49abSCL">SL 2000, ch 231; SL 2009, ch 254, § 829; SL 2024, ch 198, § 55.</span></p></div></body></html>