South Dakota § 51A-17-57 Director participation in multistate supervisory processes.

South Dakota Statutes

§ 51A-17-57 — Director participation in multistate supervisory processes.

South Dakota § 51A-17-57

Title 51ABANKS AND BANKING

Ch. 51A-16MONEY TRANSMISSION

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Bluebook

S.D. Codified Laws § 51A-17-57 (2026).

Text

(1)To efficiently and effectively administer and enforce this chapter and to minimize regulatory burden, the director is authorized and encouraged to participate in multistate supervisory processes established between states and coordinated through the Conference of State Bank Supervisors, Money Transmitter Regulators Association, and affiliates and successors thereof for all licensees that hold licenses in this state and other states. As a participant in multistate supervision, the director may:

(a)Cooperate, coordinate, and share information with other state and federal regulators in accordance with § 51A-17-55 ;

(b)Enter into written cooperation, coordination, or information-sharing contracts or agreements with organizations the membership of which is made up of state or fed

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(1) To efficiently and effectively administer and enforce this chapter and to minimize regulatory burden, the director is authorized and encouraged to participate in multistate supervisory processes established between states and coordinated through the Conference of State Bank Supervisors, Money Transmitter Regulators Association, and affiliates and successors thereof for all licensees that hold licenses in this state and other states. As a participant in multistate supervision, the director may: (a) Cooperate, coordinate, and share information with other state and federal regulators in accordance with § 51A-17-55 ; (b) Enter into written cooperation, coordination, or information-sharing contracts or agreements with organizations the membership of which is made up of state or federal governmental agencies; and (c) Cooperate, coordinate, and share information with organizations the membership of which is made up of state or federal governmental agencies, provided that the organizations agree in writing to maintain the confidentiality and security of the shared information in accordance with § 51A-17-55 . (2) The director may not waive, and nothing in this section constitutes a waiver of, the director's authority to conduct an examination or investigation or otherwise take independent action authorized by this chapter or a rule adopted or order issued under this chapter to enforce compliance with applicable state or federal law. (3) A joint examination or investigation, or acceptance of an examination or investigation report, does not waive an examination assessment provided for in this chapter.