51A-5-23. Holding in bulk of securities deposited in clearing corporation--Merger of certificates.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. Source: SL 1978, ch 357, §2; SDCL, §51-19-10.3.
South Dakota Legal Code