<html xmlns="http://www.w3.org/1999/xhtml" lang="en-US"><head><meta charset="UTF-8"><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 57A-1-301 - Territorial applicability--Parties' power to choose applicable law.</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s5246c3f2a2f74b25a92f701060a33bfeNormal { 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.s5246c3f2a2f74b25a92f701060a33bfeSENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s5246c3f2a2f74b25a92f701060a33bfeCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s5246c3f2a2f74b25a92f701060a33bfeStatute { 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.s5246c3f2a2f74b25a92f701060a33bfeDefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s5246c3f2a2f74b25a92f701060a33bfe000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s5246c3f2a2f74b25a92f701060a33bfeNoIndent { text-indent: 0.00in; 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.s5246c3f2a2f74b25a92f701060a33bfeDefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s5246c3f2a2f74b25a92f701060a33bfeSCL { 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><meta name="viewport" content="width=device-width, initial-scale=1"><meta name="twitter:card" content="summary"><meta property="og:title" content="SD 57A-1-301 - Territorial applicability--Parties' power to choose applicable law."><meta property="og:description" content="SDLRC Codified Law 57A-1-301 - Territorial applicability--Parties' power to choose applicable law."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/57A-1-301"><meta property="og:image" content="https://lawmakerdocuments.blob.core.usgovcloudapi.net/photos/logoshape.webp"><meta property="og:site_name" content="South Dakota Legislature"></head><body><div><p dir="ltr" class="s5246c3f2a2f74b25a92f701060a33bfeNormal"><a href="https://sdlegislature.gov/Statutes?Statute=57A-1-301" rel="noopener"><span class="s5246c3f2a2f74b25a92f701060a33bfeSENU">57A-1-301</span></a><span xml:space="preserve" class="s5246c3f2a2f74b25a92f701060a33bfeSENU">. </span><span class="s5246c3f2a2f74b25a92f701060a33bfeCL">Territorial applicability--Parties' power to choose applicable law.</span></p><p dir="ltr" class="s5246c3f2a2f74b25a92f701060a33bfeStatute"><span class="s5246c3f2a2f74b25a92f701060a33bfeDefaultParagraphFont">(1) Except as provided hereafter in this section, when a transaction bears a reasonable relation to this state and also to another state or nation the parties may agree that the law either of this state or of such other state or nation shall govern their rights and duties. Failing such agreement this title applies to transactions bearing an appropriate relation to this state.</span></p><p dir="ltr" class="s5246c3f2a2f74b25a92f701060a33bfeStatute"><span class="s5246c3f2a2f74b25a92f701060a33bfeDefaultParagraphFont">(2) Where one of the following provisions of this title specifies the applicable law, that provision governs and a contrary agreement is effective only to the extent permitted by the law (including the conflict of laws rules) so specified:</span></p><p dir="ltr" class="s5246c3f2a2f74b25a92f701060a33bfeStatute"><span xml:space="preserve" class="s5246c3f2a2f74b25a92f701060a33bfeDefaultParagraphFont">Rights of creditors against sold goods. § </span><a href="https://sdlegislature.gov/Statutes?Statute=57A-2-402" rel="noopener"><span class="s5246c3f2a2f74b25a92f701060a33bfeDefaultParagraphFont">57A-2-402</span></a><span class="s5246c3f2a2f74b25a92f701060a33bfeDefaultParagraphFont">.</span></p><p dir="ltr" class="s5246c3f2a2f74b25a92f701060a33bfeStatute"><span xml:space="preserve" class="s5246c3f2a2f74b25a92f701060a33bfeDefaultParagraphFont">Applicability of the chapter on leases. §§ </span><a href="https://sdlegislature.gov/Statutes?Statute=57A-2A-105" rel="noopener"><span class="s5246c3f2a2f74b25a92f701060a33bfeDefaultParagraphFont">57A-2A-105</span></a><span xml:space="preserve" class="s5246c3f2a2f74b25a92f701060a33bfeDefaultParagraphFont"> and </span><a href="https://sdlegislature.gov/Statutes?Statute=57A-2A-106" rel="noopener"><span class="s5246c3f2a2f74b25a92f701060a33bfeDefaultParagraphFont">57A-2A-106</span></a><span class="s5246c3f2a2f74b25a92f701060a33bfeDefaultParagraphFont">.</span></p><p dir="ltr" class="s5246c3f2a2f74b25a92f701060a33bfeStatute"><span xml:space="preserve" class="s5246c3f2a2f74b25a92f701060a33bfeDefaultParagraphFont">Applicability of the chapters on bank deposits and collections. § </span><a href="https://sdlegislature.gov/Statutes?Statute=57A-4-102" rel="noopener"><span class="s5246c3f2a2f74b25a92f701060a33bfeDefaultParagraphFont">57A-4-102</span></a><span class="s5246c3f2a2f74b25a92f701060a33bfeDefaultParagraphFont">.</span></p><p dir="ltr" class="s5246c3f2a2f74b25a92f701060a33bfeStatute"><span xml:space="preserve" class="s5246c3f2a2f74b25a92f701060a33bfeDefaultParagraphFont">Governing law in the chapter on funds transfers. § </span><a href="https://sdlegislature.gov/Statutes?Statute=57A-4A-507" rel="noopener"><span class="s5246c3f2a2f74b25a92f701060a33bfeDefaultParagraphFont">57A-4A-507</span></a><span class="s5246c3f2a2f74b25a92f701060a33bfeDefaultParagraphFont">.</span></p><p dir="ltr" class="s5246c3f2a2f74b25a92f701060a33bfeStatute"><span xml:space="preserve" class="s5246c3f2a2f74b25a92f701060a33bfeDefaultParagraphFont">Letters of Credit. § </span><a href="https://sdlegislature.gov/Statutes?Statute=57A-5-116" rel="noopener"><span class="s5246c3f2a2f74b25a92f701060a33bfeDefaultParagraphFont">57A-5-116</span></a><span class="s5246c3f2a2f74b25a92f701060a33bfeDefaultParagraphFont">.</span></p><p dir="ltr" class="s5246c3f2a2f74b25a92f701060a33bfeStatute"><span xml:space="preserve" class="s5246c3f2a2f74b25a92f701060a33bfeDefaultParagraphFont">Applicability of the chapters on investment securities. § </span><a href="https://sdlegislature.gov/Statutes?Statute=57A-8-110" rel="noopener"><span class="s5246c3f2a2f74b25a92f701060a33bfeDefaultParagraphFont">57A-8-110</span></a><span class="s5246c3f2a2f74b25a92f701060a33bfeDefaultParagraphFont">.</span></p><p dir="ltr" class="s5246c3f2a2f74b25a92f701060a33bfeStatute"><span xml:space="preserve" class="s5246c3f2a2f74b25a92f701060a33bfeDefaultParagraphFont">Law governing perfection, the effect of perfection or nonperfection, and the priority of security interests and agricultural liens. §§ </span><a href="https://sdlegislature.gov/Statutes?Statute=57A-9-301" rel="noopener"><span class="s5246c3f2a2f74b25a92f701060a33bfeDefaultParagraphFont">57A-9-301</span></a><span xml:space="preserve" class="s5246c3f2a2f74b25a92f701060a33bfeDefaultParagraphFont"> to </span><a href="https://sdlegislature.gov/Statutes?Statute=57A-9-307" rel="noopener"><span class="s5246c3f2a2f74b25a92f701060a33bfeDefaultParagraphFont">57A-9-307</span></a><span class="s5246c3f2a2f74b25a92f701060a33bfeDefaultParagraphFont">, inclusive.</span></p><p dir="ltr" class="s5246c3f2a2f74b25a92f701060a33bfeStatute"><span xml:space="preserve" class="s5246c3f2a2f74b25a92f701060a33bfeDefaultParagraphFont">Law governing controllable electronic records. § </span><a href="https://sdlegislature.gov/Statutes?Statute=57A-12-107" rel="noopener"><span class="s5246c3f2a2f74b25a92f701060a33bfeDefaultParagraphFont">57A-12-107</span></a><span class="s5246c3f2a2f74b25a92f701060a33bfeDefaultParagraphFont">.</span></p><p dir="ltr" class="s5246c3f2a2f74b25a92f701060a33bfeNormal"><span xml:space="preserve" class="s5246c3f2a2f74b25a92f701060a33bfe000000"> </span></p><p dir="ltr" class="s5246c3f2a2f74b25a92f701060a33bfeNoIndent"><span xml:space="preserve" class="s5246c3f2a2f74b25a92f701060a33bfeDefaultParagraphFont-000001">Source: </span><span class="s5246c3f2a2f74b25a92f701060a33bfeSCL">SL 2008, ch 259, § 15; SL 2024, ch 198, § 4.</span></p></div></body></html>