S.D. Admin. R. 20:07:19:07

Current through Register Vol. 51, page 67, December 16, 2024

Section 20:07:19:07 - Surety bonds

The amount of the surety bond required in SDCL 54-14-24 shall be established according to the following scale based upon the dollar amount of the mortgage loans originated, brokered, or serviced, as the case may be, with respect to property in South Dakota during the preceding calendar year. The numbers preceding the colon represent the dollar amount of the loans and the numbers after the colon represent the amount of bond required.

Less than $ 25,000,000: $25,000

$25,000,001 to $100,000,000: $35,000

Over $100,000,000: $50,000

S.D. Admin. R. 20:07:19:07

33 SDR 226, effective 7/1/2007; 34 SDR 200, effective 1/29/2008; 34 SDR 322, effective 6/30/2008; 36 SDR 208, effective 6/30/2010.

General Authority: SDCL 54-14-24.

Law Implemented: SDCL 54-14-24.