Section 51A-5-15 - Records of depositor to show ownership of securities--Transfers by book entries.
51A-5-15. Records of depositor to show ownership of securities--Transfers by book entries. The records of the bank or trust company shall at all times show the ownership of the securities held in such account. Ownership of, and other interests in, the securities credited to such account may be transferred by entries on the books of said federal reserve bank without physical delivery of any securities.
Source: SDCL, § 51-19-7 as added by SL 1975, ch 292, § 1; SDCL, § 51-19-7.2; SL 1995, ch 268, § 72; SL 1997, ch 272, § 10.