54-14-23. Mortgage broker or lender permitted to use services of mortgage loan originator. Any mortgage broker or mortgage lender licensed to practice in the State of South Dakota may use the services of a mortgage loan originator that operates under direct control and supervision of the mortgage broker or mortgage lender. The mortgage loan originator shall be registered by the director and while registered and employed by a mortgage broker or mortgage lender may not be deemed to be operating as a mortgage broker or mortgage lender. Source: SL 2007, ch 279, §12.
South Dakota Legal Code