For the purposes of this chapter, the term, registered mortgage loan originator, means any individual who: (1) Meets the definition of mortgage loan originator and is an employee of: (a) A depository institution; (b) A subsidiary that is owned and controlled by a depository institution and regulated by a federal banking agency; or (c) An institution regulated by the Farm Credit Administration; and (2) Is registered with, and maintains a unique identifier through, the nationwide mortgage licensing system and registry.
‹ Prev All South Dakota sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.