South Dakota Statutes
§ 54-14-20.1 — Exemption of certain persons from mortgage loan originator license requirement.
South Dakota § 54-14-20.1
This text of South Dakota § 54-14-20.1 (Exemption of certain persons from mortgage loan originator license requirement.) is published on Counsel Stack Legal Research, covering South Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
S.D. Codified Laws § 54-14-20.1 (2026).
Text
The following are exempt from the requirement of obtaining a mortgage loan originator license:
(1)Any individual who offers or negotiates terms of a mortgage loan with or on behalf of an immediate family member of the individual;
(2)Any individual who offers or negotiates terms of a residential mortgage loan secured by a dwelling that served as the individual's residence; or (3) Any individual who, on, before, or after July 1, 2017, offers or negotiates terms of five or fewer nonresidential mortgage loans in a twelve-month period as long as the total amount of the loans outstanding does not exceed four million dollars.
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Legislative History
SL 2009, ch 251, § 23; SL 2012, ch 237, § 1; SL 2017, ch 207, § 2.
Nearby Sections
15
§ 54-1-2
Loan of money defined.§ 54-1-6
"Open account" defined.§ 54-1-7
Open account--Interest rates.§ 54-1-9
"Securitization" defined.§ 54-10-1
Definition of terms.§ 54-10-10
Value of security, determination by liquidator's sale of assets--Order of sale, requirements.§ 54-10-13
Uniformity of interpretation of chapter.Cite This Page — Counsel Stack
Bluebook (online)
South Dakota § 54-14-20.1, Counsel Stack Legal Research, https://law.counselstack.com/statute/sd/54-14-20.1.