S.D. Codified Laws § 54-14-12.4

Current through the 2024 Legislative Session

Section 54-14-12.4 - Registered mortgage loan originator defined

For the purposes of this chapter, the term, registered mortgage loan originator, means any individual who:

(1) Meets the definition of mortgage loan originator and is an employee of:

(a) A depository institution;

(b) A subsidiary that is owned and controlled by a depository institution and regulated by a federal banking agency; or

(c) An institution regulated by the Farm Credit Administration; and

(2) Is registered with, and maintains a unique identifier through, the nationwide mortgage licensing system and registry.

SDCL 54-14-12.4

SL 2009, ch 251, §5.