<html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 36-11A-1.4 - Transaction statement defined. </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2060043Normal { text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2060043SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2060043CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2060043Normal-000000 { text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2060043DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2060043Normal-000001 { margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.s2060043000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2060043SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2060043SCL-000003 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } body { text-decoration-skip-ink: none; } </style></head><body><div><p dir="ltr" class="s2060043Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=36-11A-1.4"><span class="s2060043SENU">36-11A-1.4</span></a><span xml:space="preserve" class="s2060043SENU">. </span><span class="s2060043CL">Transaction statement defined.</span></p><p dir="ltr" class="s2060043Normal-000000"><span class="s2060043DefaultParagraphFont">As used in this chapter, the term, transaction statement, means a statement, in paper or electronic form, that the entity transferring ownership in a transaction:</span></p><p dir="ltr" class="s2060043Normal-000001"><span class="s2060043DefaultParagraphFont">(1)    Is authorized under federal law;</span></p><p dir="ltr" class="s2060043Normal-000001"><span class="s2060043DefaultParagraphFont">(2)    Received the product from a person who is authorized as required under federal law;</span></p><p dir="ltr" class="s2060043Normal-000001"><span class="s2060043DefaultParagraphFont">(3)    Received the transaction information and transaction statement from the prior owner of the product, as required by federal law;</span></p><p dir="ltr" class="s2060043Normal-000001"><span class="s2060043DefaultParagraphFont">(4)    Did not knowingly ship a suspect or illegitimate product;</span></p><p dir="ltr" class="s2060043Normal-000001"><span class="s2060043DefaultParagraphFont">(5)    Had systems and processes in place to comply with verification requirements outlined in federal law;</span></p><p dir="ltr" class="s2060043Normal-000001"><span class="s2060043DefaultParagraphFont">(6)    Did not knowingly provide false transaction information; and</span></p><p dir="ltr" class="s2060043Normal-000001"><span class="s2060043DefaultParagraphFont">(7)    Did not knowingly alter the transaction history.</span></p><p dir="ltr" class="s2060043Normal"><span xml:space="preserve" class="s2060043000002"> </span></p><p dir="ltr" class="s2060043Normal"><span class="s2060043SCL">Source:</span><span xml:space="preserve" class="s2060043SCL-000003"> SL 2017, ch 174, § 5.</span></p></div></body></html>