South Dakota § 57A-12-102 - Definitions.
Full text of South Dakota South Dakota Codified Laws § 57A-12-102 — Definitions., with citation guidance and answers to common questions.
§ 57A-12-102. Definitions.
(a) In this chapter:
(1) "Controllable electronic record" means a record stored in an electronic medium that can be subjected to control under § 57A-12-105. The term does not include a controllable account, a controllable payment intangible, a deposit account, an electronic copy of a record evidencing chattel paper, an electronic document of title, electronic money, investment property, or a transferable record.
(2) "Qualifying purchaser" means a purchaser of a controllable electronic record or an interest in a controllable electronic record that obtains control of the controllable electronic record for value, in good faith, and without notice of a claim of a property right in the controllable electronic record.
(3) "Transferable record" has the meaning provided for that term in:
(A) Section 201(a)(1) of the Electronic Signatures in Global and National Commerce Act, 15 U.S.C. § 7021(a)(1), as amended and in effect January 1, 2024; or
(B) As defined in § 53-12-40.
(4) "Value" has the meaning provided in § 57A-3-303(a), as if references in that subsection to an "instrument" were references to a controllable account, controllable electronic record, or controllable payment intangible.
(b) The definitions in chapter 57A-9 of "account debtor," "controllable account," "controllable payment intangible," "chattel paper," "deposit account," "electronic money," and "investment property" apply to this chapter.
(c) Chapter 57A-1 contains general definitions and principles of construction and interpretation applicable throughout this chapter.
Source: SL 2024, ch 198, § 94.
Frequently Asked Questions About South Dakota § 57A-12-102
What does South Dakota Codified Laws § 57A-12-102 cover?
Section 57A-12-102 ("Definitions.") is part of the South Dakota Codified Laws, the codified statutory law of South Dakota. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite South Dakota § 57A-12-102?
A common citation format is "South Dakota Codified Laws § 57A-12-102" (South Dakota). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of South Dakota law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the South Dakota official source linked on this page or consult a licensed South Dakota attorney.
How does South Dakota § 57A-12-102 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in South Dakota can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
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