Department of Labor and Regulation

Title - Banking

Money Lenders — Exemptions

Entities that are exempt from South Dakota Codified Law (SDCL) 54-4 are:

  • Any state bank and its subsidiary;
  • Any national bank and its subsidiary;
  • Any bank holding company and its subsidiary;
  • Any other federally insured financial institution, its holding company and subsidiary; and
  • Any South Dakota charted trust company.
  • Any person selling goods or services and providing financing for such goods or services are exempt from the licensing requirements of SDCL 54-4.
  • The State of South Dakota, any political subdivision of the state, and any quasi-governmental organization created by South Dakota law or an executive order of the State of South Dakota and any subsidiary of such organization is exempt from the requirements of this chapter.

Partial Exemptions:

Any nonprofit corporation formed pursuant to the provisions of chapter SDCL Chapter 47-22; any nonprofit United States Treasury Community Development Financial Institution, Small Business Administration Certified Development Company, or Regional Revolving Loan Fund; or any commercial club, chamber of commerce, or industrial development corporation formed pursuant to the provisions of SDCL 9-12-11 or SDCL 9-27-37 is subject to this chapter but exempt from initial license fees, renewal fees, and surety bond requirements pursuant to the provisions of this chapter.


Marcia Hultman, Secretary
700 Governors Drive
Pierre, SD 57501-2291
Tel. 605.773.3101
Fax. 605.773.6184