<html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 57A-9-311 - Perfection of security interests in property subject to certain statutes, regulations, and treaties. </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2073675Normal { 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.s2073675SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2073675CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2073675Normal-000000 { 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.s2073675DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2073675Normal-000001 { margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } p.s2073675Normal-000002 { text-indent: 0.25in; 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.s2073675000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2073675SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2073675SCL-000004 { 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></head><body><div><p dir="ltr" class="s2073675Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=57A-9-311"><span class="s2073675SENU">57A-9-311</span></a><span xml:space="preserve" class="s2073675SENU">. </span><span class="s2073675CL">Perfection of security interests in property subject to certain statutes, regulations, and treaties.</span></p><p dir="ltr" class="s2073675Normal-000000"><span class="s2073675DefaultParagraphFont">(a) Except as otherwise provided in subsection (d), the filing of a financing statement is not necessary or effective to perfect a security interest in property subject to:</span></p><p dir="ltr" class="s2073675Normal-000001"><span class="s2073675DefaultParagraphFont">(1)    A statute, regulation, or treaty of the United States whose requirements for a security interest's obtaining priority over the rights of a lien creditor with respect to the property preempt § 57A-9-310(a);</span></p><p dir="ltr" class="s2073675Normal-000001"><span class="s2073675DefaultParagraphFont">(2)    A certificate-of-title statute of this state under the law of which indication of a security interest on the certificate of title is required as a condition of perfection; or</span></p><p dir="ltr" class="s2073675Normal-000001"><span class="s2073675DefaultParagraphFont">(3)    A statute of another jurisdiction which provides for a security interest to be indicated on a certificate of title as a condition or result of the security interest's obtaining priority over the rights of a lien creditor with respect to the property.</span></p><p dir="ltr" class="s2073675Normal-000002"><span xml:space="preserve" class="s2073675DefaultParagraphFont">(b) Compliance with the requirements of a statute, regulation, or treaty described in subsection (a) for obtaining priority over the rights of a lien creditor is equivalent to the filing of a financing statement under this article. Except as otherwise provided in subsection (d) and §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=57A-9-313"><span class="s2073675DefaultParagraphFont">57A-9-313</span></a><span xml:space="preserve" class="s2073675DefaultParagraphFont"> and 57A-9-316(d) and (e) for goods covered by a certificate of title, a security interest in property subject to a statute, regulation, or treaty described in subsection (a) may be perfected only by compliance with those requirements, and a security interest so perfected remains perfected notwithstanding a change in the use or transfer of possession of the collateral.</span></p><p dir="ltr" class="s2073675Normal-000002"><span class="s2073675DefaultParagraphFont">(c) Except as otherwise provided in subsection (d) and § 57A-9-316(d) and (e), duration and renewal of perfection of a security interest perfected by compliance with the requirements prescribed by a statute, regulation, or treaty described in subsection (a) are governed by the statute, regulation, or treaty. In other respects, the security interest is subject to this article.</span></p><p dir="ltr" class="s2073675Normal-000002"><span class="s2073675DefaultParagraphFont">(d) During any period in which collateral subject to a statute specified in subsection (a)(2) is inventory held for sale or lease by a person or leased by that person as lessor and that person is in the business of selling goods of that kind, this section does not apply to a security interest in that collateral created by that person.</span></p><p dir="ltr" class="s2073675Normal"><span xml:space="preserve" class="s2073675000003"> </span></p><p dir="ltr" class="s2073675Normal"><span class="s2073675SCL">Source:</span><span xml:space="preserve" class="s2073675SCL-000004"> SL 2000, ch 231; SL 2012, ch 238, § 4, eff. July 1, 2013.</span></p></div></body></html>