All transfers of licenses to collect or disburse money under the certificate system or transfers of stock in a corporation holding a license shall be subject to prior review and approval by the commission, and the disclosure requirements as provided in § 42-7-59. The commission may approve minor transfers of stock without a hearing. The commission shall apply the standards provided in § 42-7-91 in determining whether it shall permit a transfer of stock.
S.D. Codified Laws § 42-7-65
Transfer of license or stock ownership subject to approval--Standards applied
Source: SL 1978, ch 302, § 18; SL 1991, ch 349, § 17; SL 2005, ch 229, § 4.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.