{"data":{"id":"us-sd/sdcl-54-14-12.2","jurisdiction":"us-sd","citation":"SDCL § 54-14-12.2","heading":"Mortgage loan originator defined.","body":"For the purposes of this chapter, the term, mortgage loan originator, means an individual who for compensation or gain or in the expectation of compensation or gain takes a mortgage loan application or offers or negotiates terms of a mortgage loan.\nA mortgage loan originator does not include:\n(1) An individual engaged solely as a loan processor or underwriter except as otherwise provided in § 54-14-12.1\n(2) An individual or entity that performs only real estate brokerage activities and is licensed or registered in accordance with applicable South Dakota law, unless the individual or entity is compensated by a lender, a mortgage broker, or other mortgage loan originator or by any agent of such lender, mortgage broker, or other mortgage loan originator; or\n(3) Any individual or entity solely involved in extensions of credit relating to timeshare plans, as that term is defined in 11 U.S.C. § 101(53D) as of January 1, 2009.","path":["TITLE 54. DEBTOR AND CREDITOR","CHAPTER 54-14. MORTGAGE LENDER BUSINESS"],"source_url":"https://sdlegislature.gov/Statutes/54-14-12.2","current_through":"2026-08-31","vintage":"","retrieved_at":"2026-09-03T15:18:57Z","sha256":"92482681d8dca70abc0a08060d03199698dabfeb04b95e9d4035aeb7b76aba0c","source_id":"us-sd","stale":true,"prev":"us-sd/sdcl-54-14-12.1","next":"us-sd/sdcl-54-14-12.3"},"notice":"GroundRules: Original legal text. Not legal advice."}