2016 South Dakota Codified Laws
Title 51A - BANKS AND BANKING
Chapter 17 - Money Transmission
§ 51A-17-4 License to engage in business of money transmission required.
51A-17-4. License to engage in business of money transmission required. No person, except a person who is exempt pursuant to the provisions of § 51A-17-3, may engage in the business of money transmission in this state without obtaining a license as provided in this chapter and undergoing a criminal background investigation through the division. A person is engaged in providing money transmission if the person provides those services to residents of South Dakota, even if such person has no physical presence in South Dakota. Any person may be licensed and maintain a unique identifier through the nationwide mortgage licensing system and registry.
Source: SL 2008, ch 253, § 4; SL 2015, ch 241, § 3.
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