<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-17-94 - Exception--Request for refund by sender.</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s33ac44d61a7c4816b03ebbd2f0f739c1Normal { 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.s33ac44d61a7c4816b03ebbd2f0f739c1SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s33ac44d61a7c4816b03ebbd2f0f739c1CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s33ac44d61a7c4816b03ebbd2f0f739c1StatuteNumber1 { margin-left: 0.75in; text-indent: -0.50in; text-align: justify; 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font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s33ac44d61a7c4816b03ebbd2f0f739c1SCL { 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-17-94 - Exception--Request for refund by sender."><meta property="og:description" content="SDLRC Codified Law 51A-17-94 - Exception--Request for refund by sender."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/51A-17-94"><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="s33ac44d61a7c4816b03ebbd2f0f739c1Normal"><a href="https://sdlegislature.gov/Statutes?Statute=51A-17-94" rel="noopener"><span class="s33ac44d61a7c4816b03ebbd2f0f739c1SENU">51A-17-94</span></a><span xml:space="preserve" class="s33ac44d61a7c4816b03ebbd2f0f739c1SENU">. </span><span class="s33ac44d61a7c4816b03ebbd2f0f739c1CL">Exception--Request for refund by sender.</span></p><p dir="ltr" class="s33ac44d61a7c4816b03ebbd2f0f739c1StatuteNumber1"><span class="s33ac44d61a7c4816b03ebbd2f0f739c1DefaultParagraphFont">(1)    This section does not apply to:</span></p><p dir="ltr" class="s33ac44d61a7c4816b03ebbd2f0f739c1StatuteNumber2"><span class="s33ac44d61a7c4816b03ebbd2f0f739c1DefaultParagraphFont">(a)    Money received for transmission subject to the federal Remittance Rule, 12 C.F.R. § 1005.30 to § 1005.36, inclusive (January 1, 2024); or</span></p><p dir="ltr" class="s33ac44d61a7c4816b03ebbd2f0f739c1StatuteNumber2"><span class="s33ac44d61a7c4816b03ebbd2f0f739c1DefaultParagraphFont">(b)    Money received for transmission pursuant to a written agreement between the licensee and payee to process payments for goods or services provided by the payee.</span></p><p dir="ltr" class="s33ac44d61a7c4816b03ebbd2f0f739c1StatuteNumber1"><span class="s33ac44d61a7c4816b03ebbd2f0f739c1DefaultParagraphFont">(2)    Every licensee shall refund to the sender within ten days of receipt of the sender's written request for a refund of any and all money received for transmission unless any of the following occurs:</span></p><p dir="ltr" class="s33ac44d61a7c4816b03ebbd2f0f739c1StatuteNumber2"><span class="s33ac44d61a7c4816b03ebbd2f0f739c1DefaultParagraphFont">(a)    The money has been forwarded within ten days of the date on which the money was received for transmission;</span></p><p dir="ltr" class="s33ac44d61a7c4816b03ebbd2f0f739c1StatuteNumber2"><span class="s33ac44d61a7c4816b03ebbd2f0f739c1DefaultParagraphFont">(b)    Instructions have been given committing an equivalent amount of money to the person designated by the sender within ten days of the date on which the money was received for transmission;</span></p><p dir="ltr" class="s33ac44d61a7c4816b03ebbd2f0f739c1StatuteNumber2"><span class="s33ac44d61a7c4816b03ebbd2f0f739c1DefaultParagraphFont">(c)    The agreement between the licensee and the sender instructs the licensee to forward the money at a time that is beyond ten days of the date on which the money was received for transmission. If funds have not yet been forwarded in accordance with the terms of the agreement between the licensee and the sender, the licensee shall issue a refund in accordance with the other provisions of this section; or</span></p><p dir="ltr" class="s33ac44d61a7c4816b03ebbd2f0f739c1StatuteNumber2"><span class="s33ac44d61a7c4816b03ebbd2f0f739c1DefaultParagraphFont">(d)    The refund is requested for a transaction that the licensee has not completed based on a reasonable belief or a reasonable basis to believe that a crime or violation of law, rule, or regulation has occurred, is occurring, or may occur.</span></p><p dir="ltr" class="s33ac44d61a7c4816b03ebbd2f0f739c1StatuteNumber2"><span class="s33ac44d61a7c4816b03ebbd2f0f739c1DefaultParagraphFont">(e)     The refund request does not enable the licensee to identify the sender's name and address or telephone number or identify the particular transaction to be refunded in the event the sender has multiple transactions outstanding.</span></p><p dir="ltr" class="s33ac44d61a7c4816b03ebbd2f0f739c1Normal"><span xml:space="preserve" class="s33ac44d61a7c4816b03ebbd2f0f739c1000000"> </span></p><p dir="ltr" class="s33ac44d61a7c4816b03ebbd2f0f739c1NoIndent"><span xml:space="preserve" class="s33ac44d61a7c4816b03ebbd2f0f739c1DefaultParagraphFont-000001">Source: </span><span class="s33ac44d61a7c4816b03ebbd2f0f739c1SCL">SL 2024, ch 196, § 43.</span></p></div></body></html>