2017 South Dakota Codified Laws
Title 51A - BANKS AND BANKING
Chapter 17 - Money Transmission
§ 51A-17-24 Persons exempt from change of control requirements--Notice.
51A-17-24. Persons exempt from change of control requirements--Notice. The following persons are exempt from the requirements of § 51A-17-23, but the licensee shall notify the director of any such change of control:
(1) A person that acts as a proxy for the sole purpose of voting at a designated meeting of the security holders or holders of voting interests of a licensee or person in control of a licensee;
(2) A person that acquires control of a licensee by devise or descent;
(3) A person that acquires control as a personal representative, custodian, guardian, conservator, or trustee, or as an officer appointed by a court of competent jurisdiction or by operation of law; and
(4) A person that the director by rule or order exempts in the public interest.
Source: SL 2008, ch 253, § 24.
