57A-8-206. Completion or alteration of security certificate.
(a) If a security certificate contains the signatures necessary to its issue or transfer but is incomplete in any other respect:
(1)Any person may complete it by filling in the blanks as authorized; and
(2)Even if the blanks are incorrectly filled in, the security certificate as completed is enforceable by a purchaser who took it for value and without notice of the incorrectness.
(b) A complete security certificate that has been improperly altered, even if fraudulently, remains enforceable, but only according to its original terms.
Source: SL 1998, ch 284, ยง1.
Structure South Dakota Codified Laws
Title 57A - Uniform Commercial Code
Chapter 08 - Investment Securities
Section 57A-8-101 - Short title.
Section 57A-8-102 - Definitions.
Section 57A-8-104 - Acquisition of security or financial asset or interest therein.
Section 57A-8-105 - Notice of adverse claim.
Section 57A-8-107 - Whether endorsement, instruction, or entitlement order is effective.
Section 57A-8-108 - Warranties in direct holding.
Section 57A-8-109 - Warranties in indirect holding.
Section 57A-8-110 - Applicability--Choice of law.
Section 57A-8-111 - Clearing corporation rules.
Section 57A-8-112 - Creditor's legal process.
Section 57A-8-113 - Statute of frauds inapplicable.
Section 57A-8-114 - Evidentiary rules concerning certificated securities.
Section 57A-8-115 - Securities intermediary and others not liable to adverse claimant.
Section 57A-8-116 - Securities intermediary as purchaser for value.
Section 57A-8-202 - Issuer's responsibility and defenses; notice of defect or defense.
Section 57A-8-203 - Staleness as notice of defect or defense.
Section 57A-8-204 - Effect of issuer's restriction on transfer.
Section 57A-8-205 - Effect of unauthorized signature on security certificate.
Section 57A-8-206 - Completion or alteration of security certificate.
Section 57A-8-207 - Rights and duties of issuer with respect to registered owners.
Section 57A-8-208 - Effect of signature of authenticating trustee, registrar, or transfer agent.
Section 57A-8-209 - Issuer's lien.
Section 57A-8-210 - Overissue.
Section 57A-8-302 - Rights of purchaser.
Section 57A-8-303 - Protected purchaser.
Section 57A-8-304 - Indorsement.
Section 57A-8-305 - Instruction.
Section 57A-8-306 - Effect of guaranteeing signature, indorsement, or instruction.
Section 57A-8-307 - Purchaser's right to requisites for registration of transfer.
Section 57A-8-401 - Duty of issuer to register transfer.
Section 57A-8-402 - Assurance that indorsement or instruction is effective.
Section 57A-8-403 - Demand that issuer not register transfer.
Section 57A-8-404 - Wrongful registration.
Section 57A-8-405 - Replacement of lost, destroyed, or wrongfully taken security certificate.
Section 57A-8-407 - Authenticating trustee, transfer agent, and registrar.
Section 57A-8-502 - Assertion of adverse claim against entitlement holder.
Section 57A-8-504 - Duty of securities intermediary to maintain financial asset.
Section 57A-8-505 - Duty of securities intermediary with respect to payments and distributions.
Section 57A-8-507 - Duty of securities intermediary to comply with entitlement order.
Section 57A-8-510 - Rights of purchaser of security entitlement from entitlement holder.
Section 57A-8-511 - Priority among security interests and entitlement holders.