<html xmlns="http://www.w3.org/1999/xhtml" lang="en-US"><head><meta charset="UTF-8"><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 51A-17-70 - Annual renewal of license--Fee--Renewal term--Renewal report.</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s631d883b8ec94bb88cbe88f5ccce1de7Normal { text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s631d883b8ec94bb88cbe88f5ccce1de7SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s631d883b8ec94bb88cbe88f5ccce1de7CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s631d883b8ec94bb88cbe88f5ccce1de7StatuteNumber1 { margin-left: 0.75in; text-indent: -0.50in; 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font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s631d883b8ec94bb88cbe88f5ccce1de7SCL { 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><meta name="viewport" content="width=device-width, initial-scale=1"><meta name="twitter:card" content="summary"><meta property="og:title" content="SD 51A-17-70 - Annual renewal of license--Fee--Renewal term--Renewal report."><meta property="og:description" content="SDLRC Codified Law 51A-17-70 - Annual renewal of license--Fee--Renewal term--Renewal report."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/51A-17-70"><meta property="og:image" content="https://lawmakerdocuments.blob.core.usgovcloudapi.net/photos/logoshape.webp"><meta property="og:site_name" content="South Dakota Legislature"></head><body><div><p dir="ltr" class="s631d883b8ec94bb88cbe88f5ccce1de7Normal"><a href="https://sdlegislature.gov/Statutes?Statute=51A-17-70" rel="noopener"><span class="s631d883b8ec94bb88cbe88f5ccce1de7SENU">51A-17-70</span></a><span xml:space="preserve" class="s631d883b8ec94bb88cbe88f5ccce1de7SENU">. </span><span class="s631d883b8ec94bb88cbe88f5ccce1de7CL">Annual renewal of license--Fee--Renewal term--Renewal report.</span></p><p dir="ltr" class="s631d883b8ec94bb88cbe88f5ccce1de7StatuteNumber1"><span class="s631d883b8ec94bb88cbe88f5ccce1de7DefaultParagraphFont">(1)    A license under this chapter shall be renewed annually.</span></p><p dir="ltr" class="s631d883b8ec94bb88cbe88f5ccce1de7StatuteNumber2"><span xml:space="preserve" class="s631d883b8ec94bb88cbe88f5ccce1de7DefaultParagraphFont">(a)    The director shall establish an annual renewal fee, not to exceed one thousand dollars, by rule promulgated pursuant to chapter </span><a href="https://sdlegislature.gov/Statutes?Statute=1-26" rel="noopener"><span class="s631d883b8ec94bb88cbe88f5ccce1de7DefaultParagraphFont">1-26</span></a><span class="s631d883b8ec94bb88cbe88f5ccce1de7DefaultParagraphFont">.</span></p><p dir="ltr" class="s631d883b8ec94bb88cbe88f5ccce1de7StatuteNumber2"><span class="s631d883b8ec94bb88cbe88f5ccce1de7DefaultParagraphFont">(b)    The annual renewal fee must be paid no more than sixty days before the license expiration.</span></p><p dir="ltr" class="s631d883b8ec94bb88cbe88f5ccce1de7StatuteNumber2"><span class="s631d883b8ec94bb88cbe88f5ccce1de7DefaultParagraphFont">(c)    The renewal term shall be for a period of one year and shall begin on January first of each year after the initial license term and shall expire on December thirty-first of the year the renewal term begins.</span></p><p dir="ltr" class="s631d883b8ec94bb88cbe88f5ccce1de7StatuteNumber1"><span class="s631d883b8ec94bb88cbe88f5ccce1de7DefaultParagraphFont">(2)    A licensee shall submit a renewal report with the renewal fee in a form and in a medium prescribed by the director. The renewal report must state or contain a description of each material change in information submitted by the licensee in its original license application which has not been reported to the director.</span></p><p dir="ltr" class="s631d883b8ec94bb88cbe88f5ccce1de7StatuteNumber1"><span class="s631d883b8ec94bb88cbe88f5ccce1de7DefaultParagraphFont">(3)    The director for good cause may grant an extension of the renewal date.</span></p><p dir="ltr" class="s631d883b8ec94bb88cbe88f5ccce1de7StatuteNumber1"><span class="s631d883b8ec94bb88cbe88f5ccce1de7DefaultParagraphFont">(4)    The director is authorized and encouraged to utilize NMLS to process license renewals provided that such functionality is consistent with this section.</span></p><p dir="ltr" class="s631d883b8ec94bb88cbe88f5ccce1de7Normal"><span xml:space="preserve" class="s631d883b8ec94bb88cbe88f5ccce1de7000000"> </span></p><p dir="ltr" class="s631d883b8ec94bb88cbe88f5ccce1de7NoIndent"><span xml:space="preserve" class="s631d883b8ec94bb88cbe88f5ccce1de7DefaultParagraphFont-000001">Source: </span><span class="s631d883b8ec94bb88cbe88f5ccce1de7SCL">SL 2024, ch 196, § 19.</span></p></div></body></html>