Definitions

5:04:04:01. Definitions. Terms used in this chapter mean: (1) "Amendment," a UCC record that amends the information contained in a financing statement. Amendments may include assignments as well as one or more amendments. However, continuations and terminations must be separate statements; (2) "Assignment," an amendment that assigns all or a part of a secured party's power to authorize an amendment to a financing statement; (3) "Continuation statement," shall have the meaning prescribed by SDCL subdivision 57A-9-102(27); (4) "Dakota Fast File 2," (DFF 2) is a computer access program which allows instant access to all UCC and EFS filings in the Secretary of State's office via internet; (5) "Effective Financing Statement," (EFS) shall have the meaning prescribed by Section 7 USCA § 1631(c)(4), in effect on July 1, 2001; (6) "File number," shall have the meaning prescribed by SDCL subdivision 57A-9-519(a); (7) "Filing office" and "filing officer," the Office of Secretary of State and the secretary of state; (8) "Filing office correction statement," "a/k/a correction statement," a statement entered into the filing office's information system by the filing office to correct an error by the filing office; (9) "Financing statement," shall have the meaning prescribed by SDCL subdivision 57A-9-102(39); (10) "Individual," a human being or a decedent in the case of a debtor that is such decedent's estate; (11) "Information statement," a UCC record submitted by a secured party or debtor that indicates that a financing statement is inaccurate or wrongfully filed; (12) "Initial financing statement," a UCC record containing the information required on an initial financing statement that causes the filing office to establish the initial record of existence of a financing statement; (13) "Organization," a legal person who is not an individual; (14) "Remitter," a person who tenders a UCC record to the filing office for filing, whether the person is a filer or an agent of a filer responsible for tendering the record for filing. However, does not include a person responsible merely for the delivery of the record to the filing office, such as the postal service or a courier service but does include a service provider who acts as a filer's representative in the filing process; (15) "Secured party of record," shall have the meaning prescribed in SDCL 57A-9-511; (16) "Termination statement," shall have the meaning prescribed by SDCL subdivision 57A-9-102(80); (17) "UCC," the Uniform Commercial Code as adopted in this state; (18) "UCC record," an initial financing statement, an amendment, an assignment, a continuation, a termination, or an information statement and may not be deemed to refer exclusively to paper or paper-based writings. Source: 28 SDR 23, effective July 18, 2001; 42 SDR 177, effective June 30, 2016. General Authority: SDCL 57A-9-526. Law Implemented: SDCL 57A-9-525.2.