2016 South Dakota Codified Laws
Title 54 - DEBTOR AND CREDITOR
Chapter 14 - Mortgage Lender Business
§ 54-14-12.4 Registered mortgage loan originator defined.
54-14-12.4. Registered mortgage loan originator defined. For the purposes of this chapter, the term, registered mortgage loan originator, means any individual who:
(1) Meets the definition of mortgage loan originator and is an employee of:
(a) A depository institution;
(b) A subsidiary that is owned and controlled by a depository institution and regulated by a federal banking agency; or
(c) An institution regulated by the Farm Credit Administration; and
(2) Is registered with, and maintains a unique identifier through, the nationwide mortgage licensing system and registry.
Source: SL 2009, ch 251, ยง 5.
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