modify the requirements for obtaining an agricultural processor's lien.

Summary

It revises South Dakota’s lien statutes so that processors who own or lease farm equipment must file detailed written accounts and a financing statement within 30 days after processing. The changes give the lien priority over other claims, require notice to buyers if the product is sold before the lien is perfected, and set a short window for enforcing the lien.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

Topics

Share