I was preparing a DQL statement to create a folder and set its ACL attribute to be used in the ASP.NET application. The following is the query. 

 Create dm_folder OBJECT SET object_name='testFolder' 
SET acl_name='MyACL' LINK '/MyFolder'

And I keep getting the error shown below.

 Error occurred during query execution :[DM_QUERY_F_UP_SAVE] fatal: 
"UPDATE: An error has occurred during a save operation."

After spending some time researching for it, I found out that the 'MyACL' name need to exist in the Permission Sets before I can execute the above query. So, the next time you run into this error message while trying to update the acl_name, make sure the ACL name already in the Permission Sets (ACL).