55-8-1. Definition of terms.
In this chapter, unless the context otherwise requires:
(1)"Assignment" includes any written stock power, bond power, bill of sale, deed, declaration of trust, or other instrument of transfer.
(2)"Claim of beneficial interest" includes a claim of any interest by a decedent's legatee, distributee, heir, or creditor, a beneficiary under a trust, a ward, a beneficial owner of a security registered in the name of a nominee or a minor owner of a security registered in the name of a custodian, or a claim of any similar interest, whether the claim is asserted by the claimant or by a fiduciary or by any other authorized person on his behalf, and includes a claim that the transfer would be in breach of fiduciary duties.
(3)"Corporation" means a private or public corporation, association or trust issuing a security.
(4)"Fiduciary" means a personal representative, trustee, guardian, committee, conservator, curator, tutor, custodian, or nominee.
(5)"Person" includes an individual, a corporation, government or governmental subdivision or agency, business trust, estate, trust, partnership or association, two or more persons having a joint or common interest, or any other legal or commercial entity.
(6)"Security" includes any share of stock, bond, debenture, note, or other security issued by a corporation which is registered as to ownership on the books of the corporation.
(7)"Transfer" means a change on the books of a corporation in the registered ownership of a security.
(8)"Transfer agent" means a person employed or authorized by a corporation to transfer securities issued by the corporation.
Source: SL 1961, ch 22, ยง1.
Structure South Dakota Codified Laws
Title 55 - Fiduciaries and Trusts
Chapter 08 - Registration And Transfer Of Securities Held By Fiduciaries
Section 55-8-1 - Definition of terms.
Section 55-8-2 - Rights and duties of corporation and transfer agent--Law governing.
Section 55-8-3 - Application of chapter.
Section 55-8-4 - Registration of security in name of fiduciary.
Section 55-8-5 - Assignment of security by fiduciary--Assumption as to authority and capacity.
Section 55-8-11 - Liability of corporation or transfer agent for making or refusing transfer.
Section 55-8-12 - Nonliability of corporation or transfer agent for authorized acts.
Section 55-8-13 - Participation in breach of fiduciary duty--Nonliability of third persons.
Section 55-8-14 - Liability of guarantor of signature of fiduciary.
Section 55-8-16 - Tax obligations of corporation or transfer agent not affected by chapter.