This bill expands South Dakota's exemptions from money transmission licensing requirements to include operators of payment systems that process wire transfers, credit card transactions, and similar fund transfers between banks and other financial institutions. It also adds a new exemption for contractors who electronically transfer government benefits on behalf of federal, state, or county agencies. These changes allow certain financial service providers and government contractors to operate without needing a state money transmission license.
This bill does not directly amend codified state law.
Signed by the Governor H.J. 277
Delivered to the Governor H.J. 224
Signed by the President S.J. 161
Signed by the Speaker H.J. 185
Senate Do Pass Passed, YEAS 32, NAYS 0. S.J. 132
Senate Do Pass Passed, YEAS 32, NAYS 0. S.J. 132
Commerce and Energy Certified uncontested, placed on consent
Commerce and Energy Do Pass Passed, YEAS 7, NAYS 0.
Commerce and Energy Scheduled for hearing
First read in Senate and referred to Senate Commerce and Energy S.J. 76
House of Representatives Do Pass Passed, YEAS 67, NAYS 0. H.J. 49
House of Representatives Do Pass Passed, YEAS 67, NAYS 0. H.J. 51
Commerce and Energy Certified uncontested, placed on consent
Commerce and Energy Do Pass Passed, YEAS 10, NAYS 0.
Commerce and Energy Scheduled for hearing
House of Representatives Referred to House Commerce and Energy H.J. 19
First Reading House H.J. 11
Do Pass
Commerce and Energy — Do Pass
Do Pass
Commerce and Energy — Do Pass