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§ 57A-9-333 "Possessory lien"--Priority over security interest.

SD Codified L § 57A-9-333 (2019) (N/A)
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57A-9-333. "Possessory lien"--Priority over security interest. (a) In this section, "possessory lien" means an interest, other than a security interest or an agricultural lien:

(1) Which secures payment or performance of an obligation for services or materials furnished with respect to goods by a person in the ordinary course of the person's business;

(2) Which is created by statute or rule of law in favor of the person; and

(3) Whose effectiveness depends on the person's possession of the goods.

(b) A possessory lien on goods has priority over a security interest in the goods unless the lien is created by a statute that expressly provides otherwise.

Source: SL 2000, ch 231.

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