South Dakota Codified Laws
Chapter 17 - Money Transmission
Section 51A-17-14 - Noncorporate applicants--Additional requirements.

51A-17-14. Noncorporate applicants--Additional requirements.
In addition to the requirements of §51A-17-12, an applicant that is not a corporation shall provide:
(1)The name, business and residence address, personal financial statement, and employment history for the preceding five years, of each principal of the applicant and the name, business and residence address, and employment history for the preceding five years of any other person who will be in charge of the applicant's activities to be licensed;
(2)The place and date of the applicant's registration or qualification to do business in this state;
(3)The history of material litigation for the preceding five-year period for each individual having any ownership interest in the applicant and each person who exercises supervisory responsibility with respect to the applicant's business activities;
(4)A complete set of fingerprints and a signed waiver authorizing the division to conduct a criminal history background check for each person having any ownership interest in the applicant and each person who exercises supervisory responsibility with respect to the applicant's business activities; and
(5)A copy of the applicant's audited financial statements, including balance sheet, statement of income or loss, and statement of changes in financial position, for the current year and, if available, for the preceding two-year period.

Source: SL 2008, ch 253, §14; SL 2019, ch 206, §5.

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