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Code · South Dakota · Title 54 · Chapter 54-14

54-14-12.4. Registered mortgage loan originator defined.

80 words·~1 min read·/sd/title-54/chapter-54-14/54-14-12-4·

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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.
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