2017 South Dakota Codified Laws
Title 51A - BANKS AND BANKING
Chapter 17 - Money Transmission
§ 51A-17-50 Confidentiality of information provided to nationwide mortgage licensing system and registry.
51A-17-50. Confidentiality of information provided to nationwide mortgage licensing system and registry. The following provisions apply to the sharing of information collected and retained by the director during the administration of this chapter:
(1) The provisions of § 51A-17-30 regarding privacy or confidentiality apply to any information or material provided to the nationwide mortgage licensing system and registry, and any privilege arising under federal or state law, including any rule of a federal or state court, with respect to the information or material, continue to apply to the information or material after the information or material has been disclosed to the nationwide mortgage licensing system and registry. The information and material may be shared with a state or federal regulatory official who has money transmission industry oversight authority without the loss of privilege or the loss of confidentiality protections by federal law or § 51A-17-30; and
(2) No information or material that is subject to privilege or confidentiality pursuant to this section is subject to:
(a) Disclosure under any federal or state law governing the disclosure to the public of information held by an officer or an agency of the federal government or the respective state; or
(b) Subpoena or discovery, or admission into evidence, in any private civil action or administrative process, unless with respect to any privilege held by the nationwide mortgage licensing system and registry regarding the information or material is waived, in whole or in part, by the person to whom the information or material pertains.
This section does not apply to the information or material relating to the employment history of, and publicly adjudicated disciplinary and enforcement actions against, money transmitters that is included in the nationwide mortgage licensing system and registry for access by the public.
Source: SL 2015, ch 241, § 6.
