South Dakota § 57A-9-306.1 - Law governing perfection and priority of security interests in chattel paper.
Full text of South Dakota South Dakota Codified Laws § 57A-9-306.1 — Law governing perfection and priority of security interests in chattel paper., with citation guidance and answers to common questions.
§ 57A-9-306.1. Law governing perfection and priority of security interests in chattel paper.
(a) Except as provided in subsection (d), if chattel paper is evidenced only by an authoritative electronic copy of the chattel paper or is evidenced by an authoritative electronic copy and an authoritative tangible copy, the local law of the chattel paper's jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in the chattel paper, even if the transaction does not bear any relation to the chattel paper's jurisdiction.
(b) The following rules determine the chattel paper's jurisdiction under this section:
(1) If the authoritative electronic copy of the record evidencing chattel paper, or a record attached to or logically associated with the electronic copy and readily available for review, expressly provides that a particular jurisdiction is the chattel paper's jurisdiction for purposes of this section, this chapter, or title 57A, that jurisdiction is the chattel paper's jurisdiction.
(2) If paragraph (1) does not apply and the rules of the system in which the authoritative electronic copy is recorded are readily available for review and expressly provide that a particular jurisdiction is the chattel paper's jurisdiction for purposes of this section, this chapter, or title 57A, that jurisdiction is the chattel paper's jurisdiction.
(3) If paragraphs (1) and (2) do not apply and the authoritative electronic copy, or a record attached to or logically associated with the electronic copy and readily available for review, expressly provides that the chattel paper is governed by the law of a particular jurisdiction, that jurisdiction is the chattel paper's jurisdiction.
(4) If paragraphs (1), (2), and (3) do not apply and the rules of the system in which the authoritative electronic copy is recorded are readily available for review and expressly provide that the chattel paper or the system is governed by the law of a particular jurisdiction, that jurisdiction is the chattel paper's jurisdiction.
(5) If paragraphs (1) through (4) do not apply, the chattel paper's jurisdiction is the jurisdiction in which the debtor is located.
(c) If an authoritative tangible copy of a record evidences chattel paper and the chattel paper is not evidenced by an authoritative electronic copy, while the authoritative tangible copy of the record evidencing chattel paper is located in a jurisdiction, the local law of that jurisdiction governs:
(1) Perfection of a security interest in the chattel paper by possession under § 57A-9-314.1; and
(2) The effect of perfection or nonperfection and the priority of a security interest in the chattel paper.
(d) The local law of the jurisdiction in which the debtor is located governs perfection of a security interest in chattel paper by filing.
Source: SL 2024, ch 198, § 58.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 57A-9-306.1
What does South Dakota Codified Laws § 57A-9-306.1 cover?
Section 57A-9-306.1 ("Law governing perfection and priority of security interests in chattel paper.") is part of the South Dakota Codified Laws, the codified statutory law of South Dakota. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite South Dakota § 57A-9-306.1?
A common citation format is "South Dakota Codified Laws § 57A-9-306.1" (South Dakota). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of South Dakota law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the South Dakota official source linked on this page or consult a licensed South Dakota attorney.
How does South Dakota § 57A-9-306.1 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in South Dakota can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in South Dakota.