<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-9-509 - Persons entitled to file a record.</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s133dec517b9f459bb9bc6b64ad9ace3fNormal { 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.s133dec517b9f459bb9bc6b64ad9ace3fSENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s133dec517b9f459bb9bc6b64ad9ace3fCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s133dec517b9f459bb9bc6b64ad9ace3fStatute { text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; 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font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s133dec517b9f459bb9bc6b64ad9ace3fSCL { 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-9-509 - Persons entitled to file a record."><meta property="og:description" content="SDLRC Codified Law 57A-9-509 - Persons entitled to file a record."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/57A-9-509"><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="s133dec517b9f459bb9bc6b64ad9ace3fNormal"><a href="https://sdlegislature.gov/Statutes?Statute=57A-9-509" rel="noopener"><span class="s133dec517b9f459bb9bc6b64ad9ace3fSENU">57A-9-509</span></a><span xml:space="preserve" class="s133dec517b9f459bb9bc6b64ad9ace3fSENU">. </span><span class="s133dec517b9f459bb9bc6b64ad9ace3fCL">Persons entitled to file a record.</span></p><p dir="ltr" class="s133dec517b9f459bb9bc6b64ad9ace3fStatute"><span class="s133dec517b9f459bb9bc6b64ad9ace3fDefaultParagraphFont">(a) A person may file an initial financing statement, amendment that adds collateral covered by a financing statement, or amendment that adds a debtor to a financing statement only if:</span></p><p dir="ltr" class="s133dec517b9f459bb9bc6b64ad9ace3fStatuteNumber1"><span class="s133dec517b9f459bb9bc6b64ad9ace3fDefaultParagraphFont">(1)    The debtor authorizes the filing in a signed record or pursuant to subsection (b) or (c); or</span></p><p dir="ltr" class="s133dec517b9f459bb9bc6b64ad9ace3fStatuteNumber1"><span class="s133dec517b9f459bb9bc6b64ad9ace3fDefaultParagraphFont">(2)    The person holds an agricultural lien that has become effective at the time of filing and the financing statement covers only collateral in which the person holds an agricultural lien.</span></p><p dir="ltr" class="s133dec517b9f459bb9bc6b64ad9ace3fStatute"><span class="s133dec517b9f459bb9bc6b64ad9ace3fDefaultParagraphFont">(b) By signing or becoming bound as debtor by a security agreement, a debtor or new debtor authorizes the filing of an initial financing statement, and an amendment, covering:</span></p><p dir="ltr" class="s133dec517b9f459bb9bc6b64ad9ace3fStatuteNumber1"><span class="s133dec517b9f459bb9bc6b64ad9ace3fDefaultParagraphFont">(1)    The collateral described in the security agreement; and</span></p><p dir="ltr" class="s133dec517b9f459bb9bc6b64ad9ace3fStatuteNumber1"><span xml:space="preserve" class="s133dec517b9f459bb9bc6b64ad9ace3fDefaultParagraphFont">(2)    Property that becomes collateral under § </span><a href="https://sdlegislature.gov/Statutes?Statute=57A-9-315" rel="noopener"><span class="s133dec517b9f459bb9bc6b64ad9ace3fDefaultParagraphFont">57A-9-315</span></a><span class="s133dec517b9f459bb9bc6b64ad9ace3fDefaultParagraphFont">(a)(2), whether or not the security agreement expressly covers proceeds.</span></p><p dir="ltr" class="s133dec517b9f459bb9bc6b64ad9ace3fStatute"><span xml:space="preserve" class="s133dec517b9f459bb9bc6b64ad9ace3fDefaultParagraphFont">(c) By acquiring collateral in which a security interest or agricultural lien continues under § </span><a href="https://sdlegislature.gov/Statutes?Statute=57A-9-315" rel="noopener"><span class="s133dec517b9f459bb9bc6b64ad9ace3fDefaultParagraphFont">57A-9-315</span></a><span xml:space="preserve" class="s133dec517b9f459bb9bc6b64ad9ace3fDefaultParagraphFont">(a)(1), a debtor authorizes the filing of an initial financing statement, and an amendment, covering the collateral and property that becomes collateral under § </span><a href="https://sdlegislature.gov/Statutes?Statute=57A-9-315" rel="noopener"><span class="s133dec517b9f459bb9bc6b64ad9ace3fDefaultParagraphFont">57A-9-315</span></a><span class="s133dec517b9f459bb9bc6b64ad9ace3fDefaultParagraphFont">(a)(2).</span></p><p dir="ltr" class="s133dec517b9f459bb9bc6b64ad9ace3fStatute"><span class="s133dec517b9f459bb9bc6b64ad9ace3fDefaultParagraphFont">(d) A person may file an amendment other than an amendment that adds collateral covered by a financing statement or an amendment that adds a debtor to a financing statement only if:</span></p><p dir="ltr" class="s133dec517b9f459bb9bc6b64ad9ace3fStatuteNumber1"><span class="s133dec517b9f459bb9bc6b64ad9ace3fDefaultParagraphFont">(1)    The secured party of record authorizes the filing; or</span></p><p dir="ltr" class="s133dec517b9f459bb9bc6b64ad9ace3fStatuteNumber1"><span xml:space="preserve" class="s133dec517b9f459bb9bc6b64ad9ace3fDefaultParagraphFont">(2)    The amendment is a termination statement for a financing statement as to which the secured party of record has failed to file or send a termination statement as required by § </span><a href="https://sdlegislature.gov/Statutes?Statute=57A-9-513" rel="noopener"><span class="s133dec517b9f459bb9bc6b64ad9ace3fDefaultParagraphFont">57A-9-513</span></a><span class="s133dec517b9f459bb9bc6b64ad9ace3fDefaultParagraphFont">(a) or (c), the debtor authorizes the filing, and the termination statement indicates that the debtor authorized it to be filed.</span></p><p dir="ltr" class="s133dec517b9f459bb9bc6b64ad9ace3fStatute"><span class="s133dec517b9f459bb9bc6b64ad9ace3fDefaultParagraphFont">(e) If there is more than one secured party of record for a financing statement, each secured party of record may authorize the filing of an amendment under subsection (d).</span></p><p dir="ltr" class="s133dec517b9f459bb9bc6b64ad9ace3fNormal"><span xml:space="preserve" class="s133dec517b9f459bb9bc6b64ad9ace3f000000"> </span></p><p dir="ltr" class="s133dec517b9f459bb9bc6b64ad9ace3fNoIndent"><span xml:space="preserve" class="s133dec517b9f459bb9bc6b64ad9ace3fDefaultParagraphFont-000001">Source: </span><span class="s133dec517b9f459bb9bc6b64ad9ace3fSCL">SL 2000, ch 231; SL 2024, ch 198, § 78.</span></p></div></body></html>