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2021 South Dakota Codified Laws
Title 51A - Banks and Banking
Chapter 17 - Money Transmission
Section 51A-17-4 - License to engage in business of money transmission required.
Universal Citation: SD Codified L § 51A-17-4 (2021)
51A-17-4. License to engage in business of money transmission required.
No person, other than a person who is exempt under §51A-17-3, may engage in the business of money transmission in this state without obtaining a license in accordance with this chapter and undergoing a criminal background investigation. A person is engaged in providing money transmission if the person provides those services to residents of this state, including any person who has no physical presence in this state. Each person subject to this section shall be licensed under and maintain a unique identifier through the nationwide mortgage licensing system and registry.
Source: SL 2008, ch 253, §4; SL 2015, ch 241, §3; SL 2019, ch 206, §1.
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