S.D. Codified Laws § 47-9A-6
Encumbrance taken for security exempt
The restrictions provided in §§ 47-9A-1 and 47-9A-3 do not apply to a bona fide encumbrance taken for purposes of security.
Source: SL 1974, ch 294, § 4 (1); SL 2004, ch 277, § 4.