Section 57A-9-333 - "Possessory lien"--Priority over security interest. - South-dakota Statutes

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Statutes > South-dakota > Title-57a > Chapter-09 > Statute-57a-9-333

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.

State Codes and Statutes

Statutes > South-dakota > Title-57a > Chapter-09 > Statute-57a-9-333

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.

State Codes and Statutes

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State Codes and Statutes

Statutes > South-dakota > Title-57a > Chapter-09 > Statute-57a-9-333

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.