<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-9-609 - Secured party's rights with respect to collateral following default. </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2073762Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2073762SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2073762CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2073762Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; 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} </style></head><body><div><p dir="ltr" class="s2073762Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=57A-9-609"><span class="s2073762SENU">57A-9-609</span></a><span xml:space="preserve" class="s2073762SENU">. </span><span class="s2073762CL">Secured party's rights with respect to collateral following default.</span></p><p dir="ltr" class="s2073762Normal-000000"><span class="s2073762DefaultParagraphFont">(a) After default, a secured party:</span></p><p dir="ltr" class="s2073762Normal-000001"><span class="s2073762DefaultParagraphFont">(1)    May take possession of the collateral; and</span></p><p dir="ltr" class="s2073762Normal-000001"><span xml:space="preserve" class="s2073762DefaultParagraphFont">(2)    Without removal, may render equipment unusable and dispose of collateral on a debtor's premises under § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=57A-9-610"><span class="s2073762DefaultParagraphFont">57A-9-610</span></a><span class="s2073762DefaultParagraphFont">.</span></p><p dir="ltr" class="s2073762Normal-000002"><span class="s2073762DefaultParagraphFont">(b) A secured party may proceed under subsection (a):</span></p><p dir="ltr" class="s2073762Normal-000001"><span class="s2073762DefaultParagraphFont">(1)    Pursuant to judicial process; or</span></p><p dir="ltr" class="s2073762Normal-000001"><span class="s2073762DefaultParagraphFont">(2)    Without judicial process, if it proceeds without breach of the peace.</span></p><p dir="ltr" class="s2073762Normal-000002"><span class="s2073762DefaultParagraphFont">(c) If so agreed, and in any event after default, a secured party may require the debtor to assemble the collateral and make it available to the secured party at a place to be designated by the secured party which is reasonably convenient to both parties.</span></p><p dir="ltr" class="s2073762Normal"><span xml:space="preserve" class="s2073762000003"> </span></p><p dir="ltr" class="s2073762Normal"><span class="s2073762SCL">Source:</span><span xml:space="preserve" class="s2073762SCL-000004"> SL 2000, ch 231.</span></p></div></body></html><br /><hr><br /><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-9-609 - Secured party's rights with respect to collateral following default. </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2073763Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2073763SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2073763CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2073763Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2073763DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2073763DefaultParagraphFont-000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2073763000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2073763SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2073763SCL-000003 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2073763Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=57A-9-609.1"><span class="s2073763SENU">57A-9-609.1</span></a><span xml:space="preserve" class="s2073763SENU">. </span><span class="s2073763CL">Action for recovery of security by creditor against third party purchaser of farm products--Limitation period--Offer to file criminal complaint.</span></p><p dir="ltr" class="s2073763Normal-000000"><span class="s2073763DefaultParagraphFont">No cause of action for recovery of security or its value may be commenced by a secured creditor against an innocent third</span><span class="s2073763DefaultParagraphFont-000001">-</span><span xml:space="preserve" class="s2073763DefaultParagraphFont">party purchaser of farm products as defined in subsection (34) of § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=57A-9-102"><span class="s2073763DefaultParagraphFont">57A-9-102</span></a><span xml:space="preserve" class="s2073763DefaultParagraphFont">, nor may such a cause of action be commenced against a livestock auction agency, as defined in chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=40-15"><span class="s2073763DefaultParagraphFont">40-15</span></a><span xml:space="preserve" class="s2073763DefaultParagraphFont"> and § 301 of the Packers and Stockyards Act (7 USC 201), or a public grain warehouse, or a public terminal grain warehouse, or a grain dealer as defined by chapters </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=49-43"><span class="s2073763DefaultParagraphFont">49-43</span></a><span xml:space="preserve" class="s2073763DefaultParagraphFont">, </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=49-44"><span class="s2073763DefaultParagraphFont">49-44</span></a><span xml:space="preserve" class="s2073763DefaultParagraphFont">, and </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=49-45"><span class="s2073763DefaultParagraphFont">49-45</span></a><span xml:space="preserve" class="s2073763DefaultParagraphFont"> respectively, unless such action is commenced within twenty</span><span class="s2073763DefaultParagraphFont-000001">-</span><span xml:space="preserve" class="s2073763DefaultParagraphFont">four months from the date the farm products are sold and unless such action is preceded by the secured creditor offering to file against the debtor, a complaint as defined by § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=23A-2-1"><span class="s2073763DefaultParagraphFont">23A-2-1</span></a><span class="s2073763DefaultParagraphFont">.</span></p><p dir="ltr" class="s2073763Normal"><span xml:space="preserve" class="s2073763000002"> </span></p><p dir="ltr" class="s2073763Normal"><span class="s2073763SCL">Source:</span><span xml:space="preserve" class="s2073763SCL-000003"> SL 2000, ch 231.</span></p></div></body></html><br /><hr><br /><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-9-609 - Secured party's rights with respect to collateral following default. </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2073764Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2073764SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2073764CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2073764Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2073764DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2073764Normal-000001 { margin-top: 0; margin-bottom: 0; text-indent: 0.25in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2073764000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2073764SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2073764SCL-000003 { 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="s2073764Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=57A-9-609.2"><span class="s2073764SENU">57A-9-609.2</span></a><span xml:space="preserve" class="s2073764SENU">. </span><span class="s2073764CL">Farm products fraud--Misdemeanor.</span></p><p dir="ltr" class="s2073764Normal-000000"><span xml:space="preserve" class="s2073764DefaultParagraphFont">Any person who for himself, or through an agent, sells livestock through a livestock auction agency, as defined in chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=40-15"><span class="s2073764DefaultParagraphFont">40-15</span></a><span xml:space="preserve" class="s2073764DefaultParagraphFont"> and § 301 of the Packers and Stockyards Act (7 USC 201), or who so sells grain through a public grain warehouse, or through a public terminal grain warehouse, or a grain dealer as defined in chapters </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=49-43"><span class="s2073764DefaultParagraphFont">49-43</span></a><span xml:space="preserve" class="s2073764DefaultParagraphFont">, </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=49-44"><span class="s2073764DefaultParagraphFont">49-44</span></a><span xml:space="preserve" class="s2073764DefaultParagraphFont">, and </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=49-45"><span class="s2073764DefaultParagraphFont">49-45</span></a><span xml:space="preserve" class="s2073764DefaultParagraphFont"> respectively, without notifying the livestock auction agency or the grain warehouse or grain dealer of a security interest in such farm products, and with intent to defraud, is guilty of farm products fraud. The failure of the seller to give written notice of a security interest in the farm products prior to the date of the sale by the livestock auction agency, or the grain warehouse, or grain dealer, is prima facie evidence of intent to defraud.</span></p><p dir="ltr" class="s2073764Normal-000001"><span class="s2073764DefaultParagraphFont">A violation of this section is a Class 1 misdemeanor.</span></p><p dir="ltr" class="s2073764Normal"><span xml:space="preserve" class="s2073764000002"> </span></p><p dir="ltr" class="s2073764Normal"><span class="s2073764SCL">Source:</span><span xml:space="preserve" class="s2073764SCL-000003"> SL 2000, ch 231.</span></p></div></body></html>