State Codes and Statutes

Statutes > South-dakota > Title-54 > Chapter-14 > Statute-54-14-12-4

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.

Source: SL 2009, ch 251, § 5.