South Dakota Codified Laws 51A-5-23. Holding in bulk of securities deposited in clearing corporation–Merger of certificates
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Securities of the same class of the same issuer may be merged and held in bulk in the name of the nominee of such clearing corporation with any other such securities deposited in such clearing corporation by any person regardless of the ownership of such securities, and certificates of small denomination may be merged into one or more certificates of larger denomination.
Terms Used In South Dakota Codified Laws 51A-5-23
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Person: includes natural persons, partnerships, associations, cooperative corporations, limited liability companies, and corporations. See South Dakota Codified Laws 2-14-2
Source: SL 1978, ch 357, § 2; SDCL, § 51-19-10.3.