{"data":{"id":"us-sd/sdcl-57a-8-401","jurisdiction":"us-sd","citation":"SDCL § 57A-8-401","heading":"Duty of issuer to register transfer.","body":"(a) If a certificated security in registered form is presented to an issuer with a request to register transfer or an instruction is presented to an issuer with a request to register transfer of an uncertificated security, the issuer shall register the transfer as requested if:\n(1) Under the terms of the security the person seeking registration of transfer is eligible to have the security registered in its name;\n(2) The indorsement or instruction is made by the appropriate person or by an agent who has actual authority to act on behalf of the appropriate person;\n(3) Reasonable assurance is given that the indorsement or instruction is genuine and authorized (§ 57A-8-402);\n(4) Any applicable law relating to the collection of taxes has been complied with;\n(5) The transfer does not violate any restriction on transfer imposed by the issuer in accordance with § 57A-8-204;\n(6) A demand that the issuer not register transfer has not become effective under § 57A-8-403, or the issuer has complied with § 57A-8-403(b) but no legal process or indemnity bond is obtained as provided in § 57A-8-403(d); and\n(7) The transfer is in fact rightful or is to a protected purchaser.\n(b) If an issuer is under a duty to register a transfer of a security, the issuer is liable to a person presenting a certificated security or an instruction for registration or to the person's principal for loss resulting from unreasonable delay in registration or failure or refusal to register the transfer.\nSource: SL 1998, ch 284, § 1.","path":["TITLE 57A. UNIFORM COMMERCIAL CODE","CHAPTER 57A-8. INVESTMENT SECURITIES"],"source_url":"https://sdlegislature.gov/Statutes/57A-8-401","current_through":"2026-08-31","vintage":"","retrieved_at":"2026-09-03T15:18:57Z","sha256":"54663b78089242f690ff78209ee1f611e8ac1369b22dcd21bef9836c1cb01d8f","source_id":"us-sd","stale":true,"prev":"us-sd/sdcl-57a-8-308","next":"us-sd/sdcl-57a-8-402"},"notice":"GroundRules: Original legal text. Not legal advice."}