<html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><title></title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cP0 { margin-top: 0; margin-bottom: 0; margin-left: 0; margin-right: 0; text-indent: 0.00in; text-align: justify; background: white; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; } span.sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0 { color: black; background: white; font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0-000000 { color: #0000FF; background: white; font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0-000001 { color: black; background: white; font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0-000002 { color: black; background: white; font-family: 'Times New Roman', 'serif'; font-size: 10pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0-000003 { color: #0000FF; background: white; font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19c000004 { color: black; background: white; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cP0"><span xml:space="preserve" class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0">    </span><a href="https://sdlegislature.gov/Rules?Rule=20:18:26:02"><span class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0-000000">20:18:26:02</span></a><span class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0-000001">.  Requirements for foreign financial institutions.</span><span xml:space="preserve" class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0"> A financial institution</span><span xml:space="preserve" class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0"> that is </span><span class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0">not a resident of South Dakota</span><span xml:space="preserve" class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0"> shall</span><span xml:space="preserve" class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0"> designate a person who is a resident as its conservator to protect the financial institution's interests in its loan security. The conservator must be licensed by the commission as an operator or a retail licensee to manage the foreclosed gaming devices or licensed gaming premises. After foreclosure is completed or default certified pursuant to §</span><span xml:space="preserve" class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0-000002"> </span><a href="https://sdlegislature.gov/Rules?Rule=20:18:26:01"><span class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0-000003">20:18:26:01</span></a><span class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0">, the financial institution</span><span xml:space="preserve" class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0"> </span><span xml:space="preserve" class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0">must agree that </span><span xml:space="preserve" class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0">the designated </span><span class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0">conservator be authorized, in the conservator's own name, to</span><span class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0">:</span></p><p dir="ltr" class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cP0"><span xml:space="preserve" class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19c000004"> </span></p><p dir="ltr" class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cP0"><span xml:space="preserve" class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0">    (1)  E</span><span class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0">xercise possession and control of the property</span><span class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0">;</span></p><p dir="ltr" class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cP0"><span xml:space="preserve" class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0">    (2)  O</span><span xml:space="preserve" class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0">perate </span><span class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0">the gaming premises</span><span xml:space="preserve" class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0"> under the rules of the commission</span><span class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0">;</span></p><p dir="ltr" class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cP0"><span xml:space="preserve" class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0">    (3)  R</span><span class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0">eceive the rents and profits from the operation</span><span class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0">;</span><span xml:space="preserve" class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0"> and</span></p><p dir="ltr" class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cP0"><span xml:space="preserve" class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0">    (4)  P</span><span class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0">erform acts the commission may authorize to protect the interests of the financial institution in the property and rents and profits therefrom.</span></p><p dir="ltr" class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cP0"><span xml:space="preserve" class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19c000004"> </span></p><p dir="ltr" class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cP0"><span xml:space="preserve" class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0">    </span><span class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0">The commission may grant a license to a conservator on an emergency basis, with</span><span class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0">,</span><span xml:space="preserve" class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0"> without</span><span class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0">,</span><span xml:space="preserve" class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0"> or during a background investigation, after receipt of the application and payment of fees.</span></p><p dir="ltr" class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cP0"><span xml:space="preserve" class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19c000004"> </span></p><p dir="ltr" class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cP0"><span xml:space="preserve" class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0">    </span><span class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0-000001">Source:</span><span xml:space="preserve" class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0"> 16 SDR 233, effective July 1, 1990</span><span class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0">; 50 SDR 145, effective June 11, 2024</span><span class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0">.</span></p><p dir="ltr" class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cP0"><span xml:space="preserve" class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0">    </span><span class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0-000001">General Authority:</span><span xml:space="preserve" class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0"> SDCL </span><a href="https://sdlegislature.gov/Statutes?Statute=42-7B-7"><span class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0-000003">42-7B-7</span></a><span class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0">.</span></p><p dir="ltr" class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cP0"><span xml:space="preserve" class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0">    </span><span class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0-000001">Law Implemented:</span><span xml:space="preserve" class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0"> SDCL </span><a href="https://sdlegislature.gov/Statutes?Statute=42-7B-2.1"><span class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0-000003">42-7B-2.1</span></a><span xml:space="preserve" class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0">, </span><a href="https://sdlegislature.gov/Statutes?Statute=42-7B-3"><span class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0-000003">42-7B-3</span></a><span xml:space="preserve" class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0">, </span><a href="https://sdlegislature.gov/Statutes?Statute=42-7B-7"><span class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0-000003">42-7B-7</span></a><span xml:space="preserve" class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0">, </span><a href="https://sdlegislature.gov/Statutes?Statute=42-7B-11"><span class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0-000003">42-7B-11</span></a><span xml:space="preserve" class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0">, </span><a href="https://sdlegislature.gov/Statutes?Statute=42-7B-18"><span class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0-000003">42-7B-18</span></a><span xml:space="preserve" class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0">, </span><a href="https://sdlegislature.gov/Statutes?Statute=42-7B-19"><span class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0-000003">42-7B-19</span></a><span xml:space="preserve" class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0">, </span><a href="https://sdlegislature.gov/Statutes?Statute=42-7B-21"><span class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0-000003">42-7B-21</span></a><span xml:space="preserve" class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0">, </span><a href="https://sdlegislature.gov/Statutes?Statute=42-7B-22"><span class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0-000003">42-7B-22</span></a><span xml:space="preserve" class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0">, </span><a href="https://sdlegislature.gov/Statutes?Statute=42-7B-23"><span class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0-000003">42-7B-23</span></a><span xml:space="preserve" class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0">, </span><a href="https://sdlegislature.gov/Statutes?Statute=42-7B-24"><span class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0-000003">42-7B-24</span></a><span xml:space="preserve" class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0">, </span><a href="https://sdlegislature.gov/Statutes?Statute=42-7B-25"><span class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0-000003">42-7B-25</span></a><span xml:space="preserve" class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0">, </span><a href="https://sdlegislature.gov/Statutes?Statute=42-7B-33"><span class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0-000003">42-7B-33</span></a><span xml:space="preserve" class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0">, </span><a href="https://sdlegislature.gov/Statutes?Statute=42-7B-37"><span class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0-000003">42-7B-37</span></a><span xml:space="preserve" class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0">, </span><a href="https://sdlegislature.gov/Statutes?Statute=42-7B-38"><span class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0-000003">42-7B-38</span></a><span class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cC0">.</span></p><p dir="ltr" class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19cP0"><span xml:space="preserve" class="sa5c78ae3-9178-40e5-aa08-5ba4a2b0c19c000004"> </span></p></div></body></html>