54-4-49. Conditions, denial, nonrenewal, suspension, or revocation of license.
The director may condition, deny, decline to renew, suspend for a period not to exceed six months, or revoke a license for good cause pursuant to chapters 1-26 and 1-26D. If the licensee is the holder of more than one license, the director may condition, deny, decline to renew, suspend for a period not to exceed six months, or revoke any or all of the licenses. For purposes of this section, good cause includes any of the following:
(1)Violation of any statute, rule, order, or written condition of the commission or any federal statute, rule, or regulation pertaining to consumer credit;
(2)Engaging in harassment or abuse, the making of false or misleading representations, or engaging in unfair practices involving lending activity;
(3)Performing an act of commission or omission or practice that is a breach of trust or a breach of fiduciary duty;
(4)Refusing to permit the director to make any examination authorized by this chapter or rule promulgated pursuant to this chapter, or any federal statute, rule, or regulation pertaining to money lending;
(5)The licensee or any partner, officer, director, manager, or employee of the licensee has been convicted of a felony or a misdemeanor involving fraud, dishonesty, or breach of trust;
(6)The licensee or any partner, officer, director, manager, or employee of the licensee has had a license substantially equivalent to a license under this chapter, and issued by another state or jurisdiction, denied, revoked, or suspended under the laws of that state or jurisdiction; or
(7)The licensee has filed an application for a license which, as of the date the license was issued, or as of the date of an order denying, suspending, or revoking a license, was incomplete in any material respect or contained any statement that was, in light of the circumstances under which it was made, false or misleading with respect to any material fact.
Source: SL 1998, ch 280, §14; SL 2005, ch 258, §6; SL 2015, ch 242, §4.
Structure South Dakota Codified Laws
Title 54 - Debtor and Creditor
Chapter 04 - Money Lending Licenses
Section 54-4-36 - Definition of terms.
Section 54-4-37 - Entities exempt from chapter provisions.
Section 54-4-38 - Promulgation of rules.
Section 54-4-39 - Compliance with Title 53.
Section 54-4-41 - Rejection or acceptance of application by director.
Section 54-4-42 - Bond to be filed with application.
Section 54-4-44.2 - Motor vehicle purchase loan--Fees incident to extension of credit.
Section 54-4-44.3 - Consumer default--Fees incident to extension of credit.
Section 54-4-44.4 - Business-to-business lending exempt.
Section 54-4-45 - Duration of license--Renewal.
Section 54-4-46 - Transfer of license--Approval required for name change.
Section 54-4-47 - Location to be licensed--Change of location.
Section 54-4-47.1 - Remote work--Requirements.
Section 54-4-48 - Cease and desist order for practice not in conformity to requirements--Appeal.
Section 54-4-49 - Conditions, denial, nonrenewal, suspension, or revocation of license.
Section 54-4-50 - Injunction against licensee for violation.
Section 54-4-51 - Court-appointed receivership.
Section 54-4-52 - License required.
Section 54-4-53 - Deposit of funds.
Section 54-4-54 - Payment of annual tax--Exemption.
Section 54-4-55 - Exemption from other taxes.
Section 54-4-56 - Renewal of application--Tax information--Forms.
Section 54-4-58 - Information required in contract.
Section 54-4-59 - Property insurance required.
Section 54-4-60 - Purchase of insurance not condition to receive loan.
Section 54-4-61 - Copy provided to debtor.
Section 54-4-62 - Satisfaction of loan--Release of assignments.
Section 54-4-63 - Advertising.
Section 54-4-64 - Application of chapter.
Section 54-4-65 - Limitation on renewal, rollover, or flip of short-term consumer loan--Fee.
Section 54-4-66 - Maximum amount of payday loan--Violation as misdemeanor.
Section 54-4-68 - Appointment of resident agent for service of process--Notice.
Section 54-4-69 - Consent to be sued--Form.
Section 54-4-71 - Term of title loan--Renewal--Payment amounts--Deferred principal amount.
Section 54-4-73 - Debt cancellation contract defined.
Section 54-4-74 - Debt suspension contract defined.
Section 54-4-75 - Debt cancellation contracts and debt suspension contracts permitted.
Section 54-4-76 - Loans by unlicensed lenders uncollectible except for principal.
Section 54-4-77 - Debt collection--Prohibitions.
Section 54-4-77.1 - Exemptions not applicable to prohibited debt-collection tactics.
Section 54-4-79 - Contracts for collection and maintenance of records and processing of fees.
Section 54-4-80 - Sharing of information collected by director.
Section 54-4-81 - Attorney's fees recoverable if provided for in evidence of debt.