S.D. Codified Laws § 51A-17-22.2
Within ninety days of the date on which the notice provided pursuant to § 51A-17-23 was determined to be complete, the director may issue a notice of disapproval of a key individual if the competence, experience, character, or integrity of the individual would not be in the best interests of the public or the customers of the licensee to permit the individual to be a key individual of such licensee. The key individual is deemed approved if not disapproved within ninety days after the date on which the notice was determined to be complete.
A notice of disapproval shall contain a statement of the basis for disapproval and shall be sent to the licensee and the disapproved individual. A licensee may appeal a notice of disapproval pursuant to chapter 1-26 after receipt of such notice of disapproval.
SDCL 51A-17-22.2