Any attorney licensed in this state performing activities that come within the definition of a mortgage loan originator, is not required to be licensed as a mortgage loan originator if such activities are:

1. (1) Considered by the South Dakota Supreme Court to be part of the authorized practice of law in South Dakota;
2. (2) Carried out within an attorney-client relationship; and
3. (3) Accomplished by the attorney in compliance with all applicable laws, rules, and standards of professional conduct.

Source: SL 2012, ch 237 , § 2.