S.D. Codified Laws § 51A-17-NEW
Current through 2024 Legislative Session
The director may designate an agent to serve on the director's behalf as beneficiary to a letter of credit so long as the agent and letter of credit meet requirements established by the director. The director's agent may serve as agent for multiple licensing authorities for a single irrevocable letter of credit if the proceeds of the drawable amount for the purposes of this subdivision (4) of section 51 of this Act are assigned to the director.
SDCL 51A-17-NEW