S.D. Codified Laws § 53-12-40

Current through the 2024 Legislative Session

Section 53-12-40 - "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.

SDCL 53-12-40

SL 2000, ch 225, §40.