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State of South Dakota
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SEVENTY-SEVENTH
SESSION
LEGISLATIVE ASSEMBLY, 2002 |
| 913H0596 |
SENATE BILL
NO.
109
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Introduced by:
Senator Munson and Representative Broderick
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FOR AN ACT ENTITLED, An Act to
exempt certain insurers and intermediaries from
mortgage lending licensing.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA:
Section 1. That § 54-14-4 be amended to read as follows:
54-14-4. No bank, bank holding company or subsidiary thereof, trust company, national bank,
or
savings and loan association
,
or real estate broker licensed under chapter 36-21A is
required to obtain a license under this chapter.
No insurance company or person acting as an
intermediary thereto, if participating in mortgage lending activities solely with its own assets and
for its own portfolio, is required to obtain a license under this chapter.
350 copies of this document were printed by the South Dakota
Legislative Research Council at a cost of $.027 per page. . Insertions into existing statutes are indicated by underscores.
Deletions from existing statutes are indicated byoverstrikes.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA:
Section 1. That § 54-14-4 be amended to read as follows:
54-14-4. No bank, bank holding company or subsidiary thereof, trust company, national bank,
Legislative Research Council at a cost of $.027 per page. . Insertions into existing statutes are indicated by underscores.
Deletions from existing statutes are indicated by
