Section 32-3-41 - Security interests noted on certificate valid against creditors of debtor,subsequent purchasers, and encumbrancers.
32-3-41. Security interests noted on certificate valid against creditors of debtor, subsequent purchasers, and encumbrancers. A security interest, mechanic's lien, or similar instrument other than a financing statement covering a motor vehicle, trailer, or semitrailer if notation of same has been made by the seller, buyer, owner, holder of the instrument, or an agent of the secretary on the manufacturer's statement of origin or the manufacturer's certificate of origin, or in the case of the certificate of title, if a notation of same has been made by the secretary, an agent of the secretary, or a county treasurer on the face thereof or if notation of same has been made by the seller, buyer, owner, holder of the instrument, or agent of the secretary on the reverse thereof, shall be valid against the creditors of the debtor, whether armed with process or not, and subsequent purchasers and other lien holders or claimants, but otherwise is not valid against them.
Source: SDC 1939, § 44.0203 (1) as added by SL 1951, ch 229, § 3; SL 1965, ch 186, § 3; SL 1967, ch 187; SL 1989, ch 257, § 39; SL 1997, ch 180, § 1; SL 1998, ch 171, § 1; SL 2003, ch 160, § 5.