SD HB1248

Amends § 57A-8-110 to replace references to "the securities intermediary's jurisdiction" with "this state" (South Dakota), making South Dakota law govern security entitlements, rights and duties of securities intermediaries, and adverse claims

Removes the existing multi-factor test for determining a securities intermediary's jurisdiction, which previously allowed jurisdiction to be set by agreement, governing law provisions, account location, or chief executive office location

Amends § 57A-8-511 to eliminate provisions that gave creditors with control over financial assets priority over entitlement holders, and removes special priority rules for clearing corporations

Amends § 57A-8-503 to remove the cross-reference exception to § 57A-8-511 regarding creditor claims against financial assets held by securities intermediaries

Amends § 57A-9-305 to apply South Dakota law to perfection and priority of security interests in security entitlements and securities accounts, removing the previous jurisdiction-selection framework