<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-8-301 - Delivery. </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2073613Normal { 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.s2073613SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2073613CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2073613Normal-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.s2073613DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2073613Normal-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.s2073613Normal-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.s2073613000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2073613SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2073613SCL-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="s2073613Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=57A-8-301"><span class="s2073613SENU">57A-8-301</span></a><span xml:space="preserve" class="s2073613SENU">. </span><span class="s2073613CL">Delivery.</span></p><p dir="ltr" class="s2073613Normal-000000"><span class="s2073613DefaultParagraphFont">(a) Delivery of a certificated security to a purchaser occurs when:</span></p><p dir="ltr" class="s2073613Normal-000001"><span class="s2073613DefaultParagraphFont">(1)    The purchaser acquires possession of the security certificate;</span></p><p dir="ltr" class="s2073613Normal-000001"><span class="s2073613DefaultParagraphFont">(2)    Another person, other than a securities intermediary, either acquires possession of the security certificate on behalf of the purchaser or, having previously acquired possession of the certificate, acknowledges that it holds for the purchaser; or</span></p><p dir="ltr" class="s2073613Normal-000001"><span class="s2073613DefaultParagraphFont">(3)    A securities intermediary acting on behalf of the purchaser acquires possession of the security certificate, only if the certificate is in registered form and is (i) registered in the name of the purchaser, (ii) payable to the order of the purchaser, or (iii) specially indorsed to the purchaser by an effective indorsement and has not been indorsed to the securities intermediary or in blank.</span></p><p dir="ltr" class="s2073613Normal-000002"><span class="s2073613DefaultParagraphFont">(b) Delivery of an uncertificated security to a purchaser occurs when:</span></p><p dir="ltr" class="s2073613Normal-000001"><span class="s2073613DefaultParagraphFont">(1)    The issuer registers the purchaser as the registered owner, upon original issue or registration of transfer; or</span></p><p dir="ltr" class="s2073613Normal-000001"><span class="s2073613DefaultParagraphFont">(2)    Another person, other than a securities intermediary, either becomes the registered owner of the uncertificated security on behalf of the purchaser or, having previously become the registered owner, acknowledges that it holds for the purchaser.</span></p><p dir="ltr" class="s2073613Normal"><span xml:space="preserve" class="s2073613000003"> </span></p><p dir="ltr" class="s2073613Normal"><span class="s2073613SCL">Source:</span><span xml:space="preserve" class="s2073613SCL-000004"> SL 1998, ch 284, § 1; SL 2000, ch 231, § 17.</span></p></div></body></html>