S.D. Codified Laws § 57A-1-310
Current with legislation signed by the governor on or before 3/6/2024
An obligation may be issued as subordinated to performance of another obligation of the person obligated, or a creditor may subordinate its right to performance of an obligation by agreement with either the person obligated or another creditor of the person obligated. Subordination does not create a security interest as against either the common debtor or a subordinated creditor.
SDCL 57A-1-310