HB 1199 repeals portions of South Dakota's Uniform Commercial Code that govern which state's laws apply to securities (stocks and bonds) and security transactions. The bill removes rules that determined whether the issuer's home state, the securities intermediary's location, or the location of a physical security certificate would control legal questions about ownership rights and claims to those securities.
This bill does not directly amend codified state law.
House of Representatives Placed on calendar pursuant to JR 6F-6 Failed, YEAS 26, NAYS 41. H.J. 346
State Affairs Do Not Pass Passed, YEAS 12, NAYS 1.
House of Representatives Recalled from committee (Rule 7-7) House State Affairs H.J. 318
State Affairs Deferred to the 41st legislative day Passed, YEAS 11, NAYS 1.
State Affairs Scheduled for hearing H.J. 1
House of Representatives Referred to House State Affairs H.J. 198
First Reading House H.J. 187
Julie Auch
Prime sponsor · Rep.
R
Cosponsors
Placed on calendar pursuant to JR 6F-6
State Affairs — Do Not Pass
State Affairs — Deferred to the 41st legislative day