South Dakota § 57A-9-338 - Effect of inaccurate financing statement on security interest or agricultural lien.
Full text of South Dakota South Dakota Codified Laws § 57A-9-338 — Effect of inaccurate financing statement on security interest or agricultural lien., with citation guidance and answers to common questions.
§ 57A-9-338. Effect of inaccurate financing statement on security interest or agricultural lien.
If a security interest or agricultural lien is perfected by a filed financing statement providing information described in § 57A-9-516(b)(5) which is incorrect at the time the financing statement is filed:
(1) The security interest or agricultural lien is subordinate to a conflicting perfected security interest in the collateral to the extent that the holder of the conflicting security interest gives value in reasonable reliance upon the incorrect information; and
(2) A purchaser, other than a secured party, of the collateral takes free of the security interest or agricultural lien to the extent that, in reasonable reliance upon the incorrect information, the purchaser gives value and, in the case of tangible chattel paper, tangible documents, goods, instruments, or a security certificate, receives delivery of the collateral.
Source: SL 2000, ch 231; SL 2009, ch 254, § 835.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 57A-9-338
What does South Dakota Codified Laws § 57A-9-338 cover?
Section 57A-9-338 ("Effect of inaccurate financing statement on security interest or agricultural lien.") 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-9-338?
A common citation format is "South Dakota Codified Laws § 57A-9-338" (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-9-338 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.