At least 30 days before terminating an existing mobile branch bank, the bank shall submit a letter of notice to the director that includes the following:

1. (1) Statement of the area which will no longer be served;
2. (2) Statement of the impact of the discontinuance of the mobile branch bank within the area previously served; and

3. (3) Statement of reasons for the termination of the mobile branch bank.

   Any change in the locations to which a mobile vehicle travels is not the termination of an existing mobile branch bank for purposes of this section.

Source: 32 SDR 38, effective September 6, 2005; 34 SDR 322, effective June 30, 2008.

General Authority: SDCL 51A-2-14(3)(4).

Law Implemented: SDCL 51A-1-2(19) , 51A-2-14(3)(4).