2017 South Dakota Codified Laws
Title 51A - BANKS AND BANKING
Chapter 17 - Money Transmission
§ 51A-17-42 Order to show cause--Temporary restraining order--Cease and desist order--Administrative proceeding--Judicial review.
51A-17-42. Order to show cause--Temporary restraining order--Cease and desist order--Administrative proceeding--Judicial review. If the director has reason to believe that a person has violated or is violating § 51A-17-4, the director may issue an order to show cause why an order to cease and desist should not issue requiring that the person cease and desist from the violation of § 51A-17-4. In an emergency, the director may petition the circuit court for the issuance of a temporary restraining order. An order to cease and desist becomes effective upon service of it upon the person. An order to cease and desist remains effective and enforceable pending the completion of an administrative proceeding pursuant to chapter 1-26. A person that is served with an order to cease and desist for violating § 51A-17-4 may petition the circuit court for a judicial order setting aside, limiting, or suspending the enforcement, operation, or effectiveness of the order pending the completion of an administrative proceeding pursuant to chapter 1-26. The director shall commence an administrative proceeding within twenty days after issuing an order to cease and desist.
Source: SL 2008, ch 253, § 42.
