State of South Dakota
The Committee on Commerce at the request of the Office of the Secretary of
FOR AN ACT ENTITLED, An Act to
require the secretary of state to grant access to secured
parties to record certain financing statements for security interests or agricultural liens.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA:
be amended to read as follows:
The secretary of state shall
conduct a pilot
program granting a
to allow the secured party to file and provide a procedure to record the
secured party's liens on real property pursuant to
through the state's computer
. The secretary shall determine the procedure and the parameters on how the pilot
program shall be implemented and select the lenders to participate in the pilot program
liens on real property pursuant to
. The secretary may promulgate rules, pursuant
to chapter 1-26, concerning the procedure for providing a secured party access to, adequate
security for, and confidentiality of any public records related to the secured party's liens listed
on the state's computer system.
That section 2 of chapter 226 of the 2002 Session Laws be repealed.
350 copies of this document were printed by the South Dakota
Legislative Research Council at a cost of $.027 per page.
Insertions into existing statutes are indicated by underscores.
Deletions from existing statutes are indicated by