Bankr. No.:
08-10179
Adv. No.:
10-1022
Chapter:
7
Date of Decision:
March 1, 2011
Issue:
Whether under South Dakota law perfection of non-purchase money security interest in an all-terrain vehicle is accomplished by noting the lien on the certificate of title or the filing of a financing statement under the Uniform Commercial Code?
Ruling:
Though state law requires an all-terrain vehicle to be titled, a non-purchase money security interest in an all-terrain vehicle must be perfected by the filing of a financing statement under the Uniform Commercial Code.
Full Bankruptcy Court Decision:
