SDCL § 57A-9-110: Provisions governing security interests arising under other sections.

A security interest arising under § 57A-2-401, 57A-2-505, 57A-2-711(3), or 57A-2A-508(5) is subject to this chapter. However, until the debtor obtains possession of the goods:

(1) The security interest is enforceable, even if § 57A-9-203(b)(3) has not been satisfied;

(2) Filing is not required to perfect the security interest;

(3) The rights of the secured party after default by the debtor are governed by chapter 57A-2 or 57A-2A; and

(4) The security interest has priority over a conflicting security interest created by the debtor.

Source: SL 2000, ch 231.