<html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 42-7-65 - Transfer of license or stock ownership subject to approval--Standards applied. </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2064575Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2064575SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2064575CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2064575Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2064575DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2064575000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2064575SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2064575SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } body { text-decoration-skip-ink: none; } </style></head><body><div><p dir="ltr" class="s2064575Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=42-7-65"><span class="s2064575SENU">42-7-65</span></a><span xml:space="preserve" class="s2064575SENU">. </span><span class="s2064575CL">Transfer of license or stock ownership subject to approval--Standards applied.</span></p><p dir="ltr" class="s2064575Normal-000000"><span xml:space="preserve" class="s2064575DefaultParagraphFont">All transfers of licenses to collect or disburse money under the certificate system or transfers of stock in a corporation holding a license shall be subject to prior review and approval by the commission, and the disclosure requirements as provided in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=42-7-59"><span class="s2064575DefaultParagraphFont">42-7-59</span></a><span xml:space="preserve" class="s2064575DefaultParagraphFont">. The commission may approve minor transfers of stock without a hearing. The commission shall apply the standards provided in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=42-7-91"><span class="s2064575DefaultParagraphFont">42-7-91</span></a><span xml:space="preserve" class="s2064575DefaultParagraphFont"> in determining whether it shall permit a transfer of stock.</span></p><p dir="ltr" class="s2064575Normal"><span xml:space="preserve" class="s2064575000001"> </span></p><p dir="ltr" class="s2064575Normal"><span class="s2064575SCL">Source:</span><span xml:space="preserve" class="s2064575SCL-000002"> SL 1978, ch 302, § 18; SL 1991, ch 349, § 17; SL 2005, ch 229, § 4.</span></p><p dir="ltr" class="s2064575Normal"><span xml:space="preserve" class="s2064575000001"> </span></p></div></body></html>