S.D. Codified Laws ch. 51A-17 – Money Transmission | Midpage

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South Dakota Codified Laws

Chapter 51A-17

S.D. Codified Laws ch. 51A-17

Money Transmission

51A-17-52Definitions.51A-17-53Exemptions to chapter.51A-17-54Director's authority.51A-17-55Confidentiality--Disclosure of information.51A-17-56Examination or investigation by director--Production required--Costs.51A-17-57Director participation in multistate supervisory processes.51A-17-58Conflict with federal law.51A-17-59License required to engage in money transmission--Exceptions.51A-17-60Licensing--Director authority.51A-17-61Application for license--Fee--Waiver.51A-17-62Individual controlling a licensee or applicant--Information required.51A-17-63Background report--Individual in control residing outside United States.51A-17-64Complete application--Notice--Approval and denial.51A-17-65Complete application--Meaning.51A-17-66Complete application--Investigation.51A-17-67Multistate licensing process--Investigations.51A-17-68Written denial of decision--Appeal.51A-17-69Initial license term.51A-17-70Annual renewal of license--Fee--Renewal term--Renewal report.51A-17-71License revocation or suspension--Compliance required.51A-17-72Acquisition of control--Approval required--Application--Fee--Promulgation of rules.51A-17-73Acquisition of control--Application--Completion.51A-17-74Acquisition of control--Application--Completion meaning.51A-17-75Acquisition of control--Application--Investigation.51A-17-76Multistate licensing--Investigation.51A-17-77Acquisition of control--Denial of application--Appeal.51A-17-78Acquisition of control--Exceptions.51A-17-79Notice of acquisition of control.51A-17-80Acquisition of control--Further exceptions.51A-17-81Acquisition of control--Application--Determination.51A-17-82Multistate licensing--Determination--Investigation.51A-17-83Notice of adding or replacing key individual by licensee--Notice of disapproval by director.51A-17-84License report of condition--Requirements of report.51A-17-85Filing of financial statement--Certificate of opinion.51A-17-86Report of licensee's authorized delegates.51A-17-87Report of bankruptcy, administrative proceeding, or revocation or suspension of license.51A-17-88Filing of reports required by federal law.51A-17-89Maintenance of records.51A-17-90Requirements for licensee to conduct business through authorized delegate--Licensee to notify delegates of license.51A-17-91Prohibition if unlicensed.51A-17-92Jurisdiction.51A-17-93Licensee's duty to forward money received for transmission--Failure to forward.51A-17-94Exception--Request for refund by sender.51A-17-95Electronic receipt.51A-17-96Receipt for money received for transmission--Requirements for receipt.51A-17-97Required disclosure of division information on receipt or licensee's website.51A-17-98Payroll processing services requirements.51A-17-99Tangible net worth of licensee.51A-17-100Surety bond--Amount of surety bond required.51A-17-101Maintenance of permissible investments.51A-17-102Permissible investments described.51A-17-103Letter of credit requirements.51A-17-104Expiration of letter of credit--Funds held in trust by director.51A-17-105Documents issuer of letter of credit required to present prior to expiration of letter of credit.51A-17-106Designation by director of agent as beneficiary to a letter of credit.51A-17-107Director to participate in multistate processes on letters of credit.51A-17-108Additional permissible investments described.51A-17-109Virtual currency.51A-17-110Suspension or revocation of license.51A-17-111Suspension or revocation of an authorized delegate.51A-17-112Cease and desist order by director.51A-17-113Consent order.51A-17-114False statement, misrepresentation, or false certification--Service without license--Penalty.51A-17-115Civil penalty.51A-17-116Order to cease and desist--Service.51A-17-117Uniformity.51A-17-118Validity--Provisions severable.51A-17-119Effective date.51A-17-120Consent to South Dakota jurisdiction.51A-17-121Deposit of moneys--Banking special revenue fund.51A-17-122Sharing of information collected and retained by the director.