S.D. Codified Laws § 57A-9-NEW

Current with legislation signed by the governor on or before 3/6/2024
Section 57A-9-NEW - [Newly enacted section not yet numbered] [Effective 7/1/2024]
(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.
(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.
(c) Section 57A-9-313(c) and (f) through (i) applies to perfection by possession of an authoritative tangible copy of a record evidencing chattel paper.

SDCL 57A-9-NEW

Added by S.L. 2024, ch. TBD,s. 64, eff. 7/1/2024.