57A-9-333. "Possessory lien"--Priority over security interest.
101 words·~1 min read·
/sd/title-57/chapter-57-9/57a-9-333A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)In this section, "possessory lien" means an interest, other than a security interest or an agricultural lien:
(1)Which secures payment or performance of an obligation for services or materials furnished with respect to goods by a person in the ordinary course of the person's business;
(2)Which is created by statute or rule of law in favor of the person; and
(3)Whose effectiveness depends on the person's possession of the goods.
(b)A possessory lien on goods has priority over a security interest in the goods unless the lien is created by a statute that expressly provides otherwise.