Enacted on 03/13/2008, SB 157 allows a mortgage brokerage to acquire one bond that will fulfill the bond requirement for all individual applicants that the brokerage employs. Under existing South Dakota law, mortgage broker’s license applicants must post a $25,000 surety bond individually.
South Dakota Mortgage Broker Bond Amendment
September 16, 2009 by Eric Weisbrot
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Category: Commercial Bonds, Mortgage Broker Bonds, Surety News
Tags: bond requirements, legislation, mortgage broker bond, SD, South Dakota, surety bond
