54-14-20.2. Exemption of attorneys from mortgage loan originator license requirement.
Any attorney licensed in this state performing activities that come within the definition of a mortgage loan originator, is not required to be licensed as a mortgage loan originator if such activities are:
(1)Considered by the South Dakota Supreme Court to be part of the authorized practice of law in South Dakota;
(2)Carried out within an attorney-client relationship; and
(3)Accomplished by the attorney in compliance with all applicable laws, rules, and standards of professional conduct.
Source: SL 2012, ch 237, §2.