Instructions for Form EFS-3 Financing Statement - South Dakota

Form EFS-3 Financing Statement - South Dakota

This document contains official instructions for Form EFS-3 , Financing Statement - a form released and collected by the South Dakota Secretary of State. An up-to-date fillable Form EFS-3 is available for download through this link.

FAQ

Q: What is Form EFS-3?A: Form EFS-3 is a financing statement used in South Dakota.

Q: What is a financing statement?A: A financing statement is a legal document that provides public notice of a security interest in personal property.

Q: Who should use Form EFS-3?A: Form EFS-3 should be used by individuals or entities that want to establish a security interest in personal property in South Dakota.

Q: What information is required on Form EFS-3?A: Form EFS-3 requires information about the debtor, secured party, collateral, and any other relevant details about the security interest.

Q: How do I file Form EFS-3?A: Form EFS-3 can be filed electronically or through mail with the South Dakota Secretary of State's office.

Q: How long is Form EFS-3 valid?A: Form EFS-3 is generally valid for five years from the date of filing, unless a continuation statement is filed to extend the validity period.

Q: What happens if I don't file Form EFS-3?A: If you don't file Form EFS-3, your security interest may not be enforceable against third parties.

Q: Can I make changes to a filed Form EFS-3?A: No, once Form EFS-3 is filed, you cannot make changes to it. You will need to file a new financing statement if any changes are necessary.