"Person entitled to enforce" an instrument means (i) the holder of the instrument, (ii) a nonholder in possession of the instrument who has the rights of a holder, or (iii) a person not in possession of the instrument who is entitled to enforce the instrument pursuant to § 57A-3-309 or 57A-3-418(d). A person may be a person entitled to enforce the instrument even though the person is not the owner of the instrument or is in wrongful possession of the instrument.
S.D. Codified Laws § 57A-3-301
Person entitled to enforce instrument
Known as the Uniform Commercial Code
The act spans §§ 57–57 (574 sections).
Applied in 2 court decisions — leading case U.S. Bank National Ass'n v. Scott (2003)
Most recently applied in Ocwen Loan Servicing, LLC v. Elliott (July 2014)
Source: SL 1994, ch 367, § 3-301.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.