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§ 57a-9-512 — South Dakota Law | CourtGPT
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South Dakota Legal Code

§ 57a-9-512

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57A-9-512. Procedure for amending financing statement--Effectiveness.(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

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. Source: SL 2000, ch 231.