South Dakota Statutes
§ 57A-9-106 — Control of security, security settlement, or commodity contract.
(a)A person has control of a certificated security, uncertificated security, or security entitlement as provided in § 57A-8-106 .
(b)A secured party has control of a commodity contract if:
(1)The secured party is the commodity intermediary with which the commodity contract is carried; or (2) The commodity customer, secured party, and commodity intermediary have agreed that the commodity intermediary will apply any value distributed on account of the commodity contract as directed by the secured party without further consent by the commodity customer.
(c)A secured party having control of all security entitlements or commodity contracts carried in a securities account or commodity account has control over the securities account or commodity account.
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South Dakota § 57A-9-106 (Control of security, security settlement, or commodity contract.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Related
Rushmore State Bank v. Kurylas, Inc.
424 N.W.2d 649 (South Dakota Supreme Court, 1988)
Crystal Bar, Inc. v. Cosmic, Inc.
758 F. Supp. 543 (D. South Dakota, 1991)
Bank of Cresbard v. Lindhorst Farms, Inc.
78 B.R. 1002 (D. South Dakota, 1987)
Crew v. Dorothy
750 F.2d 679 (Eighth Circuit, 1984)
Legislative History
SL 2000, ch 231.
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.