50-State Financial Services Licensing Compliance Guide
South Dakota Finance Licensing
Licenses are typically required for individuals and businesses that provide finance industry services in the United States. This guide contains information about professional finance licensing in South Dakota.
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- South Dakota Financial Services Company Licenses
- South Dakota Individual Financial Services Licenses
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Individual Licenses
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Company Licenses
South Dakota Financial Services Company Licenses
South Dakota Collection Agency License
Not required
Debt Collection Agency licensure is not required on the State level in South Dakota.
South Dakota does not currently issue licenses for collection agencies.
South Dakota Exempt Mortgage Company Registration
| Agency: | South Dakota Department of Labor and Regulation - Division of Banking |
| Foreign Qualification is Prerequisite: | Yes |
| Registered Agent (Special Agency) Required? | Yes |
Initial Registration
| Instructions: | |
| Filing Method: | |
| Agency Fee: | $100 NMLS processing fee |
Registration Renewal
| Filing Method: | |
| Agency Fee: | $0 |
| Due: |
|
South Dakota Money Lender Branch License
| Agency: | South Dakota Department of Labor and Regulation - Division of Banking |
| Foreign Qualification is Prerequisite: | No |
| Registered Agent (Special Agency) Required? | No |
Initial Registration
| Instructions: | |
| Filing Method: | |
| Agency Fee: | $1,000 |
Registration Renewal
| Filing Method: | |
| Agency Fee: | $800 |
| Due: |
|
South Dakota Money Lender License
| Agency: | South Dakota Department of Labor and Regulation - Division of Banking |
| Foreign Qualification is Prerequisite: | Yes |
| Registered Agent (Special Agency) Required? | Yes |
Initial Registration
| Instructions: | |
| Filing Method: | |
| Agency Fee: | $100 + $1000 license/registration fee + $15 credit report fee |
Registration Renewal
| Filing Method: | |
| Agency Fee: | $800 |
| Due: |
|
South Dakota Money Transmitter License
| Agency: | South Dakota Department of Labor and Regulation - Division of Banking |
| Foreign Qualification is Prerequisite: | Yes |
| Registered Agent (Special Agency) Required? | Yes |
Initial Registration
| Instructions: | |
| Filing Method: | |
| Agency Fee: | $100 + $500 application fee + $1000 license/registration fee + $15 credit report fee + $36.25 background check fee + $0.25 fee per agent per year |
Registration Renewal
| Filing Method: | |
| Agency Fee: | $800 |
| Due: |
|
South Dakota Mortgage Branch Registration
| Agency: | South Dakota Department of Labor and Regulation - Division of Banking |
| Foreign Qualification is Prerequisite: | No |
| Registered Agent (Special Agency) Required? | No |
Initial Registration
| Instructions: | |
| Filing Method: | |
| Agency Fee: | $20 |
Registration Renewal
| Filing Method: | |
| Agency Fee: | $0 |
| Due: |
|
South Dakota Mortgage Brokerage License
| Agency: | South Dakota Department of Labor and Regulation - Division of Banking |
| Foreign Qualification is Prerequisite: | Yes |
| Registered Agent (Special Agency) Required? | Yes |
Initial Registration
| Instructions: | |
| Filing Method: | |
| Agency Fee: | $500 license/registration fee + $15 credit report fee + $36.25 background check fee |
Registration Renewal
| Filing Method: | |
| Agency Fee: | $350 |
| Due: |
|
South Dakota Mortgage Lender License
| Agency: | South Dakota Department of Labor and Regulation - Division of Banking |
| Foreign Qualification is Prerequisite: | Yes |
| Registered Agent (Special Agency) Required? | Yes |
Initial Registration
| Instructions: | |
| Filing Method: | |
| Agency Fee: | $750 license/registration fee + $15 credit report fee + $36.25 background check fee |
Registration Renewal
| Filing Method: | |
| Agency Fee: | $500 |
| Due: |
|
South Dakota Non-Residential Mortgage Lender License
| Agency: | South Dakota Department of Labor and Regulation - Division of Banking |
| Foreign Qualification is Prerequisite: | Yes |
| Registered Agent (Special Agency) Required? | Yes |
Initial Registration
| Instructions: | |
| Filing Method: | |
| Agency Fee: | $100 + $750 license/registration fee |
Registration Renewal
| Filing Method: | |
| Agency Fee: | $500 |
| Due: |
|
Individual Licenses
South Dakota Individual Financial Services Licenses
South Dakota Mortgage Loan Originator License
| Agency: | South Dakota Department of Labor and Regulation - Division of Banking |
Initial Registration
| Instructions: | |
| Filing Method: | |
| Agency Fee: | $30 + $150 application fee + $15 credit report fee + $36.25 background check fee |
Registration Renewal
| Filing Method: | |
| Agency Fee: | $75 |
| Due: |
|
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