Section 54-14-29 – Procedure for contesting suspension or revocation.
54-14-29. Procedure for contesting suspension or revocation. Any licensee whose license or registration is subject to suspension or revocation by the director, may contest such suspension or revocation in accordance with the provisions of chapter 1-26. Source: SL 2007, ch 279, §18.
Section 54-14-30 – Annual tax upon net income–Exemptions.
54-14-30. Annual tax upon net income–Exemptions. Any licensee under this chapter, in addition to the license and other fees provided by this chapter, shall pay the annual tax provided in chapter 10-43, upon the net income of the licensee measured by the net income assignable to the licensee’s business in South Dakota. The State of […]
Section 54-14-31 – Promulgation of rules regarding licensing, education, and fees.
54-14-31. Promulgation of rules regarding licensing, education, and fees. The director may promulgate rules pursuant to chapter 1-26 for the pre-licensing education, written testing, continuing education, personal history, and experience checks of mortgage brokers, mortgage brokerages, mortgage lenders, and mortgage loan originators, and for the management and administration of licenses and registrations issued pursuant to […]
Section 54-14-18 – Expiration of license or registration.
54-14-18. Expiration of license or registration. Any license or registration granted under this chapter expires on the following December thirty-first after its issuance. Source: SL 2007, ch 279, §7.
Section 54-14-19 – Fees for renewal of license.
54-14-19. Fees for renewal of license. Any application for renewal of a license under this chapter shall be postmarked to the director by December first and shall be accompanied by a fee to be established by the director by rules promulgated pursuant to chapter 1-26. The fee to transact business as a mortgage loan originator […]
Section 54-14-13.2 – (See §54-14-13.3 for effective dates) Mortgage loan originator license–Renewal standards.
54-14-13.2.(See §54-14-13.3 for effective dates) Mortgage loan originator license–Renewal standards. The minimum standards for license renewal for mortgage loan originators shall include the following: (1)The mortgage loan originator continues to meet the minimum standards for license issuance under subdivisions 54-14-13.1(1) to (5), inclusive; and (2)The mortgage loan originator has satisfied the annual continuing education requirements […]
Section 54-14-13.3 – Effective dates of §§54-14-13.1 and 54-14-13.2.
54-14-13.3. Effective dates of §§54-14-13.1 and 54-14-13.2. The effective dates of §§54-14-13.1 and 54-14-13.2 are as follows: (1)July 31, 2010, for any individual other than an individual described in subdivision (2); and (2)December 31, 2010, for any individual licensed as a mortgage loan originator as of July 1, 2009. Source: SL 2009, ch 251, §28.
Section 54-14-13.4 – License required for loan processor or underwriter–Identification through nationwide mortgage licensing system and registry.
54-14-13.4. License required for loan processor or underwriter–Identification through nationwide mortgage licensing system and registry. No loan processor or underwriter who is an independent contractor may engage in the activities of a loan processor or underwriter unless the loan processor or underwriter obtains and maintains a license under this chapter. Each loan processor or underwriter […]
Section 54-14-13.5 – License required for company originating, selling, or servicing nonresidential mortgage loans.
54-14-13.5. License required for company originating, selling, or servicing nonresidential mortgage loans. Any company who, for valuable consideration, originates, sells, or services nonresidential mortgage loans, shall apply for, on forms prescribed by the director, and maintain, a mortgage lending license and is subject to the tax as provided in §54-14-30. The tax required in §54-14-30 […]
Section 54-14-14 – Application for licensure or registration.
54-14-14. Application for licensure or registration. Any applicant for licensure or registration shall submit to the director an application on forms prescribed by the division. The forms shall include, at a minimum, all addresses at which business is to be conducted, the names and titles of each director and principal officer of the business, and […]