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S.D. Codified Laws § 53-12-40

"Transferable record" defined

Source: SL 2000, ch 225, § 40.

"Transferable record" defined.

For purposes of this chapter, the term, transferable record, means an electronic record that:

(1) Would be a note under Article 3 of the Uniform Commercial Code or a document under Article 7 of the Uniform Commercial Code if the electronic record were in writing; and

(2) The issuer of the electronic record expressly has agreed is a transferable record.

Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.