Records of depositor to show ownership of securities--Transfers by book entries

The records of the bank must 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 the 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; SL 2021, ch 203 , § 3.