South Dakota Bankers defends the UCC

PIERRE, S.D.(WNAX)- South Dakota Governor Kristi Noem has vetoed HB1193 which updates and amends the Uniform Commercial Code. The Governor said the bill, which sets rules for commercial and financial businesses, did not adequately address crypto currencies.

Karl Adam, President of the South Dakota Bankers Association, says it’s the basic rules of the business road.

Adam says there is broad based support for the updated version.

Adam says there is a lot of misinformation being distributed by opponents.

Lawmakers return to Pierre on March 27th for the final day.