<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 57A-7-105 - Reissuance in alternative medium. </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2073547Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2073547SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2073547CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2073547Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2073547DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2073547Normal-000001 { margin-top: 0; margin-bottom: 0; margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-right: 0; } p.s2073547Normal-000002 { margin-top: 0; margin-bottom: 0; text-indent: 0.25in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2073547000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2073547SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2073547SCL-000004 { 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="s2073547Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=57A-7-105"><span class="s2073547SENU">57A-7-105</span></a><span xml:space="preserve" class="s2073547SENU">. </span><span class="s2073547CL">Reissuance in alternative medium.</span></p><p dir="ltr" class="s2073547Normal-000000"><span class="s2073547DefaultParagraphFont">(a) Upon request of a person entitled under an electronic document of title, the issuer of the electronic document may issue a tangible document of title as a substitute for the electronic document if:</span></p><p dir="ltr" class="s2073547Normal-000001"><span class="s2073547DefaultParagraphFont">(1)    The person entitled under the electronic document surrenders control of the document to the issuer; and</span></p><p dir="ltr" class="s2073547Normal-000001"><span class="s2073547DefaultParagraphFont">(2)    The tangible document when issued contains a statement that it is issued in substitution for the electronic document.</span></p><p dir="ltr" class="s2073547Normal-000002"><span class="s2073547DefaultParagraphFont">(b) Upon issuance of a tangible document of title in substitution for an electronic document of title in accordance with subsection (a):</span></p><p dir="ltr" class="s2073547Normal-000001"><span class="s2073547DefaultParagraphFont">(1)    The electronic document ceases to have any effect or validity; and</span></p><p dir="ltr" class="s2073547Normal-000001"><span class="s2073547DefaultParagraphFont">(2)    The person that procured issuance of the tangible document warrants to all subsequent persons entitled under the tangible document that the warrantor was a person entitled under the electronic document when the warrantor surrendered control of the electronic document to the issuer.</span></p><p dir="ltr" class="s2073547Normal-000002"><span class="s2073547DefaultParagraphFont">(c) Upon request of a person entitled under a tangible document of title, the issuer of the tangible document may issue an electronic document of title as a substitute for the tangible document if:</span></p><p dir="ltr" class="s2073547Normal-000001"><span class="s2073547DefaultParagraphFont">(1)    The person entitled under the tangible document surrenders possession of the document to the issuer; and</span></p><p dir="ltr" class="s2073547Normal-000001"><span class="s2073547DefaultParagraphFont">(2)    The electronic document when issued contains a statement that it is issued in substitution for the tangible document.</span></p><p dir="ltr" class="s2073547Normal-000002"><span class="s2073547DefaultParagraphFont">(d) Upon issuance of the electronic document of title in substitution for a tangible document of title in accordance with subsection (c):</span></p><p dir="ltr" class="s2073547Normal-000001"><span class="s2073547DefaultParagraphFont">(1)    The tangible document ceases to have any effect or validity; and</span></p><p dir="ltr" class="s2073547Normal-000001"><span class="s2073547DefaultParagraphFont">(2)    The person that procured issuance of the electronic document warrants to all subsequent persons entitled under the electronic document that the warrantor was a person entitled under the tangible document when the warrantor surrendered possession of the tangible document to the issuer.</span></p><p dir="ltr" class="s2073547Normal"><span xml:space="preserve" class="s2073547000003"> </span></p><p dir="ltr" class="s2073547Normal"><span class="s2073547SCL">Source:</span><span xml:space="preserve" class="s2073547SCL-000004"> SL 2009, ch 254, § 7-105.</span></p></div></body></html>