{"data":{"id":"us-sd/sdcl-51a-17-78","jurisdiction":"us-sd","citation":"SDCL § 51A-17-78","heading":"Acquisition of control--Exceptions.","body":"The requirements of subdivisions 51A-17-72(1) and (2) do not apply to any of the following:\n(1) A person that acts as a proxy for the sole purpose of voting at a designated meeting of the shareholders or holders of voting shares or voting interests of a licensee or a person in control of a licensee;\n(2) A person that acquires control of a licensee by devise or descent;\n(3) A person that acquires control of a licensee as a personal representative, custodian, guardian, conservator, or trustee, or as an officer appointed by a court of competent jurisdiction or by operation of law;\n(4) A person that is exempt under subdivision 51A-17-53(7);\n(5) A person that the director determines is not subject to subdivision 51A-17-72(1) based on the public interest;\n(6) A public offering of securities of a licensee or a person in control of a licensee; or\n(7) An internal reorganization of a person in control of the licensee where the ultimate person in control of the licensee remains the same.\nSource: SL 2024, ch 196, § 27.","path":["TITLE 51A. BANKS AND BANKING","CHAPTER 51A-17. MONEY TRANSMISSION"],"source_url":"https://sdlegislature.gov/Statutes/51A-17-78","current_through":"2026-08-31","vintage":"","retrieved_at":"2026-09-03T15:18:57Z","sha256":"2cee0db2142f7a89040678f8c8d4e1d4706ecda06efb64c01e695ba76c247220","source_id":"us-sd","stale":true,"prev":"us-sd/sdcl-51a-17-77","next":"us-sd/sdcl-51a-17-79"},"notice":"GroundRules: Original legal text. Not legal advice."}