14-9-401. FILING REQUIREMENTS.

1. Except as provided in section 402 of this chapter, a secured party or his assignee who complies in all respects with the requirements of South Dakota Codified Laws, Title 57A, Article 9, Part 4, as it now exists or shall be amended hereafter (“SDCL Chapter 57A-9 Part 4”), including but not limited to the time, place and manner of filing and the form of financing statements or any assignment thereof, shall be recognized as having obtained a perfected security interest in accordance with this Chapter.
2. A security interest in vehicles or other property described in Chapter 32-2 of South Dakota Codified Laws, as it now exists or shall be amended hereafter, which has been perfected in accordance with that Chapter shall be recognized as a perfected security interest in accordance with this Chapter.
3. A person having rights in property subject to a security interest which has been perfected under subsections (1) or (2) above the section 402 of this chapter shall be entitled to enforce all of the obligations provided by SDCL Chapter 57A-9 Part 4, or Chapter 32-3, against the secured party of his assignee, including the right to require the filing of a termination statement or other release of the security interest.