A person shall not engage in the business of money transmission on behalf of a person not licensed under this chapter or not exempt pursuant to § 51A-17-53. A person that engages in such activity, provides money transmission to the same extent as if the person were a licensee, shall be jointly and severally liable with the unlicensed or nonexempt person.
S.D. Codified Laws § 51A-17-91
Prohibition if unlicensed
Source: SL 2024, ch 196, § 40.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.