On July 1, the South Dakota Division of Banking will join more than 25 other state agencies in requiring that applicants for certain licenses submit electronic surety bonds via the NMLS in lieu of paper bonds. Current South Dakota licensees (as identified below) will have until the end of 2020 to convert their paper bonds to electronic ones.
Other states with approaching bond conversion deadlines are Kansas, Nebraska, and Tennessee. Impacted licensees should convert their bonds as soon as possible — especially Kansas licensees!
Electronic surety bond conversion deadlines
||August 31, 2019|
||December 31, 2019|
||January 31, 2020|
||December 31, 2020|