SDCL § 36-11A-1.4: Transaction statement defined.

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:

(1) Is authorized under federal law;

(2) Received the product from a person who is authorized as required under federal law;

(3) Received the transaction information and transaction statement from the prior owner of the product, as required by federal law;

(4) Did not knowingly ship a suspect or illegitimate product;

(5) Had systems and processes in place to comply with verification requirements outlined in federal law;

(6) Did not knowingly provide false transaction information; and

(7) Did not knowingly alter the transaction history.