For purposes of § 51A-12-2.3, a derivative transaction is any transaction that is a contract, agreement, swap, warrant, note, or option that is based in whole, or in part, on the value of any interest in, or any quantitative measure or the occurrence of any event relating to interest rates.
S.D. Codified Laws § 51A-12-2.4
Derivative transaction defined
Source: SL 2013, ch 240, § 2.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.