54-14-25.1. Civil penalty for acting without required license or registration.
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/sd/title-54/chapter-54-14/54-14-25-1·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The director may impose a civil penalty in an amount not to exceed one thousand dollars upon any person acting as a mortgage lender, mortgage brokerage, mortgage broker, or mortgage loan originator in this state without the required license or registration. Each instance of operating without a license, or holding oneself out as being authorized to conduct the business authorized by this chapter, constitutes a separate violation of this chapter and subjects any such person to a civil penalty for each violation. A civil penalty for a series of violations may not exceed twenty-five thousand dollars.