57A-9-704. Enforceability and perfection of security interest enforceable immediately prior to July 1, 2001, and subordinate to lien creditor.A security interest that is enforceable immediately before July 1, 2001, but which would be subordinate to the rights of a person that becomes a lien creditor at that time:(1)Remains an enforceable security interest for one year after July 1, 2001;(2)Remains enforceable thereafter if the security interest becomes enforceable under §57A-9-203 on July 1, 2001, or within one year thereafter; and(3)Becomes perfected:(A)Without further action, on July 1, 2001, if the applicable requirements for perfection under this chapter are satisfied before or at that time; or(B)When the applicable requirements for perfection are satisfied if the requirements are satisfied after that time. Source: SL 2000, ch 231.
South Dakota Legal Code