South Dakota Statutes
§ 57A-4-213 — Medium and time of settlement by bank.
(a)With respect to settlement by a bank, the medium and time of settlement may be prescribed by federal reserve regulations or circulars, clearing - house rules, and the like, or agreement. In the absence of such prescription:
(1)The medium of settlement is cash or credit to an account in a federal reserve bank of or specified by the person to receive settlement; and (2) The time of settlement, is:
(i)With respect to tender of settlement by cash, a cashier's check, or teller's check, when the cash or check is sent or delivered;
(ii)With respect to tender of settlement by credit in an account in a federal reserve bank, when the credit is made;
(iii)With respect to tender of settlement by a credit or debit to an account in a bank, when the credit or debit is made or, in t
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South Dakota § 57A-4-213 (Medium and time of settlement by bank.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
SL 1994, ch 368, § 4-213.
Nearby Sections
15
§ 57A-1-101
Short title.§ 57A-1-102
Scope of chapter.§ 57A-1-104
Construction against implied repeal.§ 57A-1-105
Severability.§ 57A-1-106
Use of singular and plural--Gender.§ 57A-1-107
Section captions.§ 57A-1-201
General definitions.§ 57A-1-202
Notice--Knowledge.§ 57A-1-203
Lease distinguished from security interest.§ 57A-1-204
Value.§ 57A-1-205
Reasonable time--Seasonableness.§ 57A-1-206
Presumptions.§ 57A-1-207
Central bank digital currency.