South Dakota legislation · 101st Legislature (2026)
South Dakota HB1248: amend provisions of the Uniform Commercial Code.
Status: Failed, February 20, 2026
What the bill says
An Act to amend provisions of the Uniform Commercial Code.
From the introduced text, February 2, 2026:
An Act to amend provisions of the Uniform Commercial Code. Be it enacted by the Legislature of the State of South Dakota: Section 1. That § 57A-8-110 be AMENDED: 57A-8-110. (a) The local law of the issuer's jurisdiction, as specified in subsection (d), (2) The rights and duties of the issuer with respect to registration of transfer; (3) The effectiveness of registration of transfer by the issuer; (4) Whether the issuer owes any duties to an adverse claimant to a security; and (5) Whether an adverse claim can be asserted against a person to whom transfer of a certificated or uncertificated security is registered or a person who obtains control of an uncertificated security. (b) The [DELETED: local] law of [DELETED: the securities intermediary's jurisdiction, as specified in subsection (e),] [ADDED: this state] governs: (1) Acquisition of a security entitlement from the securities intermediary; (2) The rights and duties of the securities intermediary and entitlement holder arising out of a security entitlement; (3) Whether the securities intermediary owes any duties to an adverse claimant to a security entitlement; and (4) Whether an adverse claim can be asserted against a person who acquires a security entitlement from the securities intermediary or a person who purchases a security entitlement or interest therein from an entitlement holder. (c) The local law of the …
Sponsors
- Julie Auch (R, HD-018) · primary sponsor
- Jana Hunt (R, HD-028)
Latest actions
- : Deferred to the 41st legislative day
- : Scheduled for hearing
- : Referred to Judiciary
- : First Reading House
Votes
- Deferred to the 41st legislative day (February 20, 2026): 12 yea, 1 nay, passed
Subjects: Uniform Commercial Code
Common questions
- What is HB1248?
- HB1248 is a bill in the South Dakota Legislature (101st Legislature (2026)): amend provisions of the Uniform Commercial Code.
- What does HB1248 do?
- In its own words: An Act to amend provisions of the Uniform Commercial Code.
- What is the status of HB1248?
- Failed as of February 20, 2026. Latest action: Deferred to the 41st legislative day (February 20, 2026).
- Who sponsored HB1248?
- Julie Auch (R, HD-018), with 1 co-sponsor.
- Where is the official record for HB1248?
- On the South Dakota Legislature website: https://sdlegislature.gov/Session/Bill/27103
Source: official South Dakota record. Tracked by Delilah, AI for legislation across all 50 states and Congress.