<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-9-314.1 - Perfection by possession and control of chattel paper.</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.sdd231dc0848547e3b165cda28fbc680dNormal { 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.sdd231dc0848547e3b165cda28fbc680dSENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sdd231dc0848547e3b165cda28fbc680dCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.sdd231dc0848547e3b165cda28fbc680dStatute { 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.sdd231dc0848547e3b165cda28fbc680dDefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.sdd231dc0848547e3b165cda28fbc680d000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.sdd231dc0848547e3b165cda28fbc680dNoIndent { text-indent: 0.00in; 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.sdd231dc0848547e3b165cda28fbc680dDefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sdd231dc0848547e3b165cda28fbc680dSCL { 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-9-314.1 - Perfection by possession and control of chattel paper."><meta property="og:description" content="SDLRC Codified Law 57A-9-314.1 - Perfection by possession and control of chattel paper."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/57A-9-314.1"><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="sdd231dc0848547e3b165cda28fbc680dNormal"><a href="https://sdlegislature.gov/Statutes?Statute=57A-9-314.1" rel="noopener"><span class="sdd231dc0848547e3b165cda28fbc680dSENU">57A-9-314.1</span></a><span xml:space="preserve" class="sdd231dc0848547e3b165cda28fbc680dSENU">. </span><span class="sdd231dc0848547e3b165cda28fbc680dCL">Perfection by possession and control of chattel paper.</span></p><p dir="ltr" class="sdd231dc0848547e3b165cda28fbc680dStatute"><span class="sdd231dc0848547e3b165cda28fbc680dDefaultParagraphFont">(a) A secured party may perfect a security interest in chattel paper by taking possession of each authoritative tangible copy of the record evidencing the chattel paper and obtaining control of each authoritative electronic copy of the electronic record evidencing chattel paper.</span></p><p dir="ltr" class="sdd231dc0848547e3b165cda28fbc680dStatute"><span class="sdd231dc0848547e3b165cda28fbc680dDefaultParagraphFont">(b) A security interest is perfected under subsection (a) not earlier than the time the secured party takes possession and obtains control and remains perfected under subsection (a) only while the secured party retains possession and control.</span></p><p dir="ltr" class="sdd231dc0848547e3b165cda28fbc680dStatute"><span xml:space="preserve" class="sdd231dc0848547e3b165cda28fbc680dDefaultParagraphFont">(c) Section </span><a href="https://sdlegislature.gov/Statutes?Statute=57A-9-313" rel="noopener"><span class="sdd231dc0848547e3b165cda28fbc680dDefaultParagraphFont">57A-9-313</span></a><span class="sdd231dc0848547e3b165cda28fbc680dDefaultParagraphFont">(c) and (f) through (i) applies to perfection by possession of an authoritative tangible copy of a record evidencing chattel paper.</span></p><p dir="ltr" class="sdd231dc0848547e3b165cda28fbc680dNormal"><span xml:space="preserve" class="sdd231dc0848547e3b165cda28fbc680d000000"> </span></p><p dir="ltr" class="sdd231dc0848547e3b165cda28fbc680dNoIndent"><span xml:space="preserve" class="sdd231dc0848547e3b165cda28fbc680dDefaultParagraphFont-000001">Source: </span><span class="sdd231dc0848547e3b165cda28fbc680dSCL">SL 2024, ch 198, § 64.</span></p></div></body></html>