<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-9-105 - Control of electronic copy of record evidencing chattel paper.</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s06f47dc7f7a94a728c6a47a64f7e5084Normal { 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.s06f47dc7f7a94a728c6a47a64f7e5084SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s06f47dc7f7a94a728c6a47a64f7e5084CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s06f47dc7f7a94a728c6a47a64f7e5084Statute { 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.s06f47dc7f7a94a728c6a47a64f7e5084DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s06f47dc7f7a94a728c6a47a64f7e5084StatuteNumber1 { margin-left: 0.75in; text-indent: -0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } p.s06f47dc7f7a94a728c6a47a64f7e5084StatuteNumber2 { margin-left: 1.25in; text-indent: -0.50in; 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.s06f47dc7f7a94a728c6a47a64f7e5084000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s06f47dc7f7a94a728c6a47a64f7e5084NoIndent { 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.s06f47dc7f7a94a728c6a47a64f7e5084DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s06f47dc7f7a94a728c6a47a64f7e5084SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style><meta name="viewport" content="width=device-width, initial-scale=1"><meta name="twitter:card" content="summary"><meta property="og:title" content="SD 57A-9-105 - Control of electronic copy of record evidencing chattel paper."><meta property="og:description" content="SDLRC Codified Law 57A-9-105 - Control of electronic copy of record evidencing chattel paper."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/57A-9-105"><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="s06f47dc7f7a94a728c6a47a64f7e5084Normal"><a href="https://sdlegislature.gov/Statutes?Statute=57A-9-105" rel="noopener"><span class="s06f47dc7f7a94a728c6a47a64f7e5084SENU">57A-9-105</span></a><span xml:space="preserve" class="s06f47dc7f7a94a728c6a47a64f7e5084SENU">. </span><span class="s06f47dc7f7a94a728c6a47a64f7e5084CL">Control of electronic copy of record evidencing chattel paper.</span></p><p dir="ltr" class="s06f47dc7f7a94a728c6a47a64f7e5084Statute"><span class="s06f47dc7f7a94a728c6a47a64f7e5084DefaultParagraphFont">(a) A purchaser has control of an authoritative electronic copy of a record evidencing chattel paper if a system employed for evidencing the assignment of interests in the chattel paper reliably establishes the purchaser as the person to which the authoritative electronic copy was assigned.</span></p><p dir="ltr" class="s06f47dc7f7a94a728c6a47a64f7e5084Statute"><span class="s06f47dc7f7a94a728c6a47a64f7e5084DefaultParagraphFont">(b) A system satisfies subsection (a) if the record or records evidencing the chattel paper are created, stored, and assigned in a manner that:</span></p><p dir="ltr" class="s06f47dc7f7a94a728c6a47a64f7e5084StatuteNumber1"><span class="s06f47dc7f7a94a728c6a47a64f7e5084DefaultParagraphFont">(1)    A single authoritative copy of the record or records exists which is unique, identifiable, and, except as otherwise provided in paragraphs (4), (5), and (6), unalterable;</span></p><p dir="ltr" class="s06f47dc7f7a94a728c6a47a64f7e5084StatuteNumber1"><span class="s06f47dc7f7a94a728c6a47a64f7e5084DefaultParagraphFont">(2)    The authoritative copy identifies the purchaser as the assignee of the record or records;</span></p><p dir="ltr" class="s06f47dc7f7a94a728c6a47a64f7e5084StatuteNumber1"><span class="s06f47dc7f7a94a728c6a47a64f7e5084DefaultParagraphFont">(3)    The authoritative copy is communicated to and maintained by the purchaser or its designated custodian;</span></p><p dir="ltr" class="s06f47dc7f7a94a728c6a47a64f7e5084StatuteNumber1"><span class="s06f47dc7f7a94a728c6a47a64f7e5084DefaultParagraphFont">(4)    Copies or amendments that add or change an identified assignee of the authoritative copy can be made only with the consent of the purchaser;</span></p><p dir="ltr" class="s06f47dc7f7a94a728c6a47a64f7e5084StatuteNumber1"><span class="s06f47dc7f7a94a728c6a47a64f7e5084DefaultParagraphFont">(5)    Each copy of the authoritative copy and any copy of a copy is readily identifiable as a copy that is not the authoritative copy; and</span></p><p dir="ltr" class="s06f47dc7f7a94a728c6a47a64f7e5084StatuteNumber1"><span class="s06f47dc7f7a94a728c6a47a64f7e5084DefaultParagraphFont">(6)    Any amendment of the authoritative copy is readily identifiable as authorized or unauthorized.</span></p><p dir="ltr" class="s06f47dc7f7a94a728c6a47a64f7e5084Statute"><span class="s06f47dc7f7a94a728c6a47a64f7e5084DefaultParagraphFont">(c) A system satisfies subsection (a), and a purchaser has control of an authoritative electronic copy of a record evidencing chattel paper, if the electronic copy, a record attached to or logically associated with the electronic copy, or a system in which the electronic copy is recorded:</span></p><p dir="ltr" class="s06f47dc7f7a94a728c6a47a64f7e5084StatuteNumber1"><span class="s06f47dc7f7a94a728c6a47a64f7e5084DefaultParagraphFont">(1)    Enables the purchaser readily to identify each electronic copy as either an authoritative copy or a nonauthoritative copy;</span></p><p dir="ltr" class="s06f47dc7f7a94a728c6a47a64f7e5084StatuteNumber1"><span class="s06f47dc7f7a94a728c6a47a64f7e5084DefaultParagraphFont">(2)    Enables the purchaser readily to identify itself in any way, including by name, identifying number, cryptographic key, office, or account number, as the assignee of the authoritative electronic copy; and</span></p><p dir="ltr" class="s06f47dc7f7a94a728c6a47a64f7e5084StatuteNumber1"><span class="s06f47dc7f7a94a728c6a47a64f7e5084DefaultParagraphFont">(3)    Gives the purchaser exclusive power, subject to subsection (d), to:</span></p><p dir="ltr" class="s06f47dc7f7a94a728c6a47a64f7e5084StatuteNumber2"><span class="s06f47dc7f7a94a728c6a47a64f7e5084DefaultParagraphFont">(A)    Prevent others from adding or changing an identified assignee of the authoritative electronic copy; and</span></p><p dir="ltr" class="s06f47dc7f7a94a728c6a47a64f7e5084StatuteNumber2"><span class="s06f47dc7f7a94a728c6a47a64f7e5084DefaultParagraphFont">(B)    Transfer control of the authoritative electronic copy.</span></p><p dir="ltr" class="s06f47dc7f7a94a728c6a47a64f7e5084Statute"><span class="s06f47dc7f7a94a728c6a47a64f7e5084DefaultParagraphFont">(d) Subject to subsection (e), a power is exclusive under subsection (c)(3)(A) and (B) even if:</span></p><p dir="ltr" class="s06f47dc7f7a94a728c6a47a64f7e5084StatuteNumber1"><span class="s06f47dc7f7a94a728c6a47a64f7e5084DefaultParagraphFont">(1)    The authoritative electronic copy, a record attached to or logically associated with the authoritative electronic copy, or a system in which the authoritative electronic copy is recorded limits the use of the authoritative electronic copy or has a protocol programmed to cause a change, including a transfer or loss of control; or</span></p><p dir="ltr" class="s06f47dc7f7a94a728c6a47a64f7e5084StatuteNumber1"><span class="s06f47dc7f7a94a728c6a47a64f7e5084DefaultParagraphFont">(2)    The power is shared with another person.</span></p><p dir="ltr" class="s06f47dc7f7a94a728c6a47a64f7e5084Statute"><span class="s06f47dc7f7a94a728c6a47a64f7e5084DefaultParagraphFont">(e) A power of a purchaser is not shared with another person under subsection (d)(2) and the purchaser's power is not exclusive if:</span></p><p dir="ltr" class="s06f47dc7f7a94a728c6a47a64f7e5084StatuteNumber1"><span class="s06f47dc7f7a94a728c6a47a64f7e5084DefaultParagraphFont">(1)    The purchaser can exercise the power only if the power also is exercised by the other person; and</span></p><p dir="ltr" class="s06f47dc7f7a94a728c6a47a64f7e5084StatuteNumber1"><span class="s06f47dc7f7a94a728c6a47a64f7e5084DefaultParagraphFont">(2)    The other person:</span></p><p dir="ltr" class="s06f47dc7f7a94a728c6a47a64f7e5084StatuteNumber2"><span class="s06f47dc7f7a94a728c6a47a64f7e5084DefaultParagraphFont">(A)    Can exercise the power without exercise of the power by the purchaser; or</span></p><p dir="ltr" class="s06f47dc7f7a94a728c6a47a64f7e5084StatuteNumber2"><span class="s06f47dc7f7a94a728c6a47a64f7e5084DefaultParagraphFont">(B)    Is the transferor to the purchaser of an interest in the chattel paper.</span></p><p dir="ltr" class="s06f47dc7f7a94a728c6a47a64f7e5084Statute"><span class="s06f47dc7f7a94a728c6a47a64f7e5084DefaultParagraphFont">(f) If a purchaser has the powers specified in subsection (c)(3)(A) and (B), the powers are presumed to be exclusive.</span></p><p dir="ltr" class="s06f47dc7f7a94a728c6a47a64f7e5084Statute"><span class="s06f47dc7f7a94a728c6a47a64f7e5084DefaultParagraphFont">(g) A purchaser has control of an authoritative electronic copy of a record evidencing chattel paper if another person, other than the transferor to the purchaser of an interest in the chattel paper:</span></p><p dir="ltr" class="s06f47dc7f7a94a728c6a47a64f7e5084StatuteNumber1"><span class="s06f47dc7f7a94a728c6a47a64f7e5084DefaultParagraphFont">(1)    Has control of the authoritative electronic copy and acknowledges that it has control on behalf of the purchaser; or</span></p><p dir="ltr" class="s06f47dc7f7a94a728c6a47a64f7e5084StatuteNumber1"><span class="s06f47dc7f7a94a728c6a47a64f7e5084DefaultParagraphFont">(2)    Obtains control of the authoritative electronic copy after having acknowledged that it will obtain control of the electronic copy on behalf of the purchaser.</span></p><p dir="ltr" class="s06f47dc7f7a94a728c6a47a64f7e5084Normal"><span xml:space="preserve" class="s06f47dc7f7a94a728c6a47a64f7e5084000000"> </span></p><p dir="ltr" class="s06f47dc7f7a94a728c6a47a64f7e5084NoIndent"><span xml:space="preserve" class="s06f47dc7f7a94a728c6a47a64f7e5084DefaultParagraphFont-000001">Source: </span><span class="s06f47dc7f7a94a728c6a47a64f7e5084SCL">SL 2000, ch 231; SL 2012, ch 238, § 2, eff. July 1, 2013; SL 2024, ch 198, § 45.</span></p></div></body></html><br /><hr><br /><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-9-105 - Control of electronic copy of record evidencing chattel paper.</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.sc240e98154524de4b7b1caad4ad41b96Normal { 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.sc240e98154524de4b7b1caad4ad41b96SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sc240e98154524de4b7b1caad4ad41b96CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.sc240e98154524de4b7b1caad4ad41b96Statute { 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.sc240e98154524de4b7b1caad4ad41b96DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.sc240e98154524de4b7b1caad4ad41b96StatuteNumber1 { margin-left: 0.75in; text-indent: -0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } p.sc240e98154524de4b7b1caad4ad41b96StatuteNumber2 { margin-left: 1.25in; text-indent: -0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } p.sc240e98154524de4b7b1caad4ad41b96StatuteNumber3 { margin-left: 1.75in; text-indent: -0.50in; 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.sc240e98154524de4b7b1caad4ad41b96000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.sc240e98154524de4b7b1caad4ad41b96NoIndent { 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.sc240e98154524de4b7b1caad4ad41b96DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sc240e98154524de4b7b1caad4ad41b96SCL { 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-9-105.1 - Control of electronic money."><meta property="og:description" content="SDLRC Codified Law 57A-9-105.1 - Control of electronic money."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/57A-9-105.1"><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="sc240e98154524de4b7b1caad4ad41b96Normal"><a href="https://sdlegislature.gov/Statutes?Statute=57A-9-105.1" rel="noopener"><span class="sc240e98154524de4b7b1caad4ad41b96SENU">57A-9-105.1</span></a><span xml:space="preserve" class="sc240e98154524de4b7b1caad4ad41b96SENU">. </span><span class="sc240e98154524de4b7b1caad4ad41b96CL">Control of electronic money.</span></p><p dir="ltr" class="sc240e98154524de4b7b1caad4ad41b96Statute"><span class="sc240e98154524de4b7b1caad4ad41b96DefaultParagraphFont">(a) A person has control of electronic money if:</span></p><p dir="ltr" class="sc240e98154524de4b7b1caad4ad41b96StatuteNumber1"><span class="sc240e98154524de4b7b1caad4ad41b96DefaultParagraphFont">(1)    The electronic money, a record attached to or logically associated with the electronic money, or a system in which the electronic money is recorded gives the person:</span></p><p dir="ltr" class="sc240e98154524de4b7b1caad4ad41b96StatuteNumber2"><span class="sc240e98154524de4b7b1caad4ad41b96DefaultParagraphFont">(A)    Power to avail itself of substantially all the benefit from the electronic money; and</span></p><p dir="ltr" class="sc240e98154524de4b7b1caad4ad41b96StatuteNumber2"><span class="sc240e98154524de4b7b1caad4ad41b96DefaultParagraphFont">(B)    Exclusive power, subject to subsection (b), to:</span></p><p dir="ltr" class="sc240e98154524de4b7b1caad4ad41b96StatuteNumber3"><span class="sc240e98154524de4b7b1caad4ad41b96DefaultParagraphFont">(i)    Prevent others from availing themselves of substantially all the benefit from the electronic money; and</span></p><p dir="ltr" class="sc240e98154524de4b7b1caad4ad41b96StatuteNumber3"><span class="sc240e98154524de4b7b1caad4ad41b96DefaultParagraphFont">(ii)    Transfer control of the electronic money to another person or cause another person to obtain control of other electronic money as a result of the transfer of the electronic money; and</span></p><p dir="ltr" class="sc240e98154524de4b7b1caad4ad41b96StatuteNumber1"><span class="sc240e98154524de4b7b1caad4ad41b96DefaultParagraphFont">(2)    The electronic money, a record attached to or logically associated with the electronic money, or a system in which the electronic money is recorded, enables the person readily to identify itself in any way, including by name, identifying number, cryptographic key, office, or account number, as having the powers under paragraph (1).</span></p><p dir="ltr" class="sc240e98154524de4b7b1caad4ad41b96Statute"><span class="sc240e98154524de4b7b1caad4ad41b96DefaultParagraphFont">(b) Subject to subsection (c), a power is exclusive under subsection (a)(1)(B)(i) and (ii) even if:</span></p><p dir="ltr" class="sc240e98154524de4b7b1caad4ad41b96StatuteNumber1"><span class="sc240e98154524de4b7b1caad4ad41b96DefaultParagraphFont">(1)    The electronic money, a record attached to or logically associated with the electronic money, or a system in which the electronic money is recorded, limits the use of the electronic money or has a protocol programmed to cause a change, including a transfer or loss of control; or</span></p><p dir="ltr" class="sc240e98154524de4b7b1caad4ad41b96StatuteNumber1"><span class="sc240e98154524de4b7b1caad4ad41b96DefaultParagraphFont">(2)    The power is shared with another person.</span></p><p dir="ltr" class="sc240e98154524de4b7b1caad4ad41b96Statute"><span class="sc240e98154524de4b7b1caad4ad41b96DefaultParagraphFont">(c) A power of a person is not shared with another person under subsection (b)(2) and the person's power is not exclusive if:</span></p><p dir="ltr" class="sc240e98154524de4b7b1caad4ad41b96StatuteNumber1"><span class="sc240e98154524de4b7b1caad4ad41b96DefaultParagraphFont">(1)    The person can exercise the power only if the power also is exercised by the other person; and</span></p><p dir="ltr" class="sc240e98154524de4b7b1caad4ad41b96StatuteNumber1"><span class="sc240e98154524de4b7b1caad4ad41b96DefaultParagraphFont">(2)    The other person:</span></p><p dir="ltr" class="sc240e98154524de4b7b1caad4ad41b96StatuteNumber2"><span class="sc240e98154524de4b7b1caad4ad41b96DefaultParagraphFont">(A)    Can exercise the power without exercise of the power by the person; or</span></p><p dir="ltr" class="sc240e98154524de4b7b1caad4ad41b96StatuteNumber2"><span class="sc240e98154524de4b7b1caad4ad41b96DefaultParagraphFont">(B)    Is the transferor to the person of an interest in the electronic money.</span></p><p dir="ltr" class="sc240e98154524de4b7b1caad4ad41b96Statute"><span class="sc240e98154524de4b7b1caad4ad41b96DefaultParagraphFont">(d) If a person has the powers specified in subsection (a)(1)(B)(i) and (ii), the powers are presumed to be exclusive.</span></p><p dir="ltr" class="sc240e98154524de4b7b1caad4ad41b96Statute"><span class="sc240e98154524de4b7b1caad4ad41b96DefaultParagraphFont">(e) A person has control of electronic money if another person, other than the transferor to the person of an interest in the electronic money:</span></p><p dir="ltr" class="sc240e98154524de4b7b1caad4ad41b96StatuteNumber1"><span class="sc240e98154524de4b7b1caad4ad41b96DefaultParagraphFont">(1)    Has control of the electronic money and acknowledges that it has control on behalf of the person; or</span></p><p dir="ltr" class="sc240e98154524de4b7b1caad4ad41b96StatuteNumber1"><span class="sc240e98154524de4b7b1caad4ad41b96DefaultParagraphFont">(2)    Obtains control of the electronic money after having acknowledged that it will obtain control of the electronic money on behalf of the person.</span></p><p dir="ltr" class="sc240e98154524de4b7b1caad4ad41b96Normal"><span xml:space="preserve" class="sc240e98154524de4b7b1caad4ad41b96000000"> </span></p><p dir="ltr" class="sc240e98154524de4b7b1caad4ad41b96NoIndent"><span xml:space="preserve" class="sc240e98154524de4b7b1caad4ad41b96DefaultParagraphFont-000001">Source: </span><span class="sc240e98154524de4b7b1caad4ad41b96SCL">SL 2024, ch 198, § 46.</span></p></div></body></html>