(a) Subject to § 57A-9-509 , a person may add or delete collateral covered by, continue or terminate the effectiveness of, or, subject to subsection (e), otherwise amend the information provided in, a financing statement by filing an amendment that: (1) Identifies, by its file number, the initial financing statement to which the amendment relates and either the social security number or internal revenue service taxpayer identification number of the debtor; and (2) If the amendment relates to an initial financing statement filed or recorded in a filing office described in § 57A-9-501(a)(1), provides the date and time that the initial financing statement was filed or recorded and the information specified in § 57A-9-502(b). (b) Except as otherwise provided in § 57A-9-515 , the filing of an amendment does not extend the period of effectiveness of the financing statement. (c) A financing statement that is amended by an amendment that adds collateral is effective as to the added collateral only from the date of the filing of the amendment. (d) A financing statement that is amended by an amendment that adds a debtor is effective as to the added debtor only from the date of filing of the amendment. (e) An amendment is ineffective to the extent it: (1) Purports to delete all debtors and fails to provide the name of a debtor to be covered by the financing statement; or (2) Purports to delete all secured parties of record and fails to provide the name of a new secured party of record.
‹ Prev All South Dakota sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.