# S.D. Codified Laws § 57A-8-104: Acquisition of security or financial asset or interest therein

> South Dakota · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_SD_T57A_C8_S57A-8-104

## Section

- **Citation:** S.D. Codified Laws § 57A-8-104
- **Heading:** Acquisition of security or financial asset or interest therein
- **Jurisdiction:** South Dakota
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** SD Code / Title 57A / Chapter 8 / Section 57A-8-104

## Text

(a) A person acquires a security or an interest therein, under this chapter, if:

(1) The person is a purchaser to whom a security is delivered pursuant to § 57A-8-301 ; or

(2) The person acquires a security entitlement to the security pursuant to § 57A-8-501 .

(b) A person acquires a financial asset, other than a security, or an interest therein, under this chapter, if the person acquires a security entitlement to the financial asset.

(c) A person who acquires a security entitlement to a security or other financial asset has the rights specified in Part 5, but is a purchaser of any security, security entitlement, or other financial asset held by the securities intermediary only to the extent provided in § 57A-8-503 .

(d) Unless the context shows that a different meaning is intended, a person who is required by other law, regulation, rule, or agreement to transfer, deliver, present, surrender, exchange, or otherwise put in the possession of another person a security or financial asset satisfies that requirement by causing the other person to acquire an interest in the security or financial asset pursuant to subsection (a) or (b).

Source: SL 1998, ch 284, § 1.

## Nearby sections

- [S.D. Codified Laws § 57A-8-101 Short title](https://www.frixlaw.com/law-library/statutes/STATE_SD_T57A_C8_S57A-8-101.md)
- [S.D. Codified Laws § 57A-8-102 Definitions and index of definitions](https://www.frixlaw.com/law-library/statutes/STATE_SD_T57A_C8_S57A-8-102.md)
- [S.D. Codified Laws § 57A-8-103 Rules for determining whether certain obligations and interests are securities or financial assets](https://www.frixlaw.com/law-library/statutes/STATE_SD_T57A_C8_S57A-8-103.md)
- [S.D. Codified Laws § 57A-8-104 Acquisition of security or financial asset or interest therein](https://www.frixlaw.com/law-library/statutes/STATE_SD_T57A_C8_S57A-8-104.md)
- [S.D. Codified Laws § 57A-8-105 Notice of adverse claim](https://www.frixlaw.com/law-library/statutes/STATE_SD_T57A_C8_S57A-8-105.md)
- [S.D. Codified Laws § 57A-8-106 Control](https://www.frixlaw.com/law-library/statutes/STATE_SD_T57A_C8_S57A-8-106.md)
- [S.D. Codified Laws § 57A-8-107 Whether endorsement, instruction, or entitlement order is effective](https://www.frixlaw.com/law-library/statutes/STATE_SD_T57A_C8_S57A-8-107.md)
- [S.D. Codified Laws § 57A-8-108 Warranties in direct holding](https://www.frixlaw.com/law-library/statutes/STATE_SD_T57A_C8_S57A-8-108.md)
- [S.D. Codified Laws § 57A-8-109 Warranties in indirect holding](https://www.frixlaw.com/law-library/statutes/STATE_SD_T57A_C8_S57A-8-109.md)
- [S.D. Codified Laws § 57A-8-110 Applicability--Choice of law](https://www.frixlaw.com/law-library/statutes/STATE_SD_T57A_C8_S57A-8-110.md)
- [S.D. Codified Laws § 57A-8-111 Clearing corporation rules](https://www.frixlaw.com/law-library/statutes/STATE_SD_T57A_C8_S57A-8-111.md)
- [S.D. Codified Laws § 57A-8-112 Creditor's legal process](https://www.frixlaw.com/law-library/statutes/STATE_SD_T57A_C8_S57A-8-112.md)
- [S.D. Codified Laws § 57A-8-113 Statute of frauds inapplicable](https://www.frixlaw.com/law-library/statutes/STATE_SD_T57A_C8_S57A-8-113.md)
- [S.D. Codified Laws § 57A-8-114 Evidentiary rules concerning certificated securities](https://www.frixlaw.com/law-library/statutes/STATE_SD_T57A_C8_S57A-8-114.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_SD_T57A_C8_S57A-8-104. Check the current official text before relying on it. Not legal advice.