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Can you summarize SDAR Chapter 20:07:02?
BANKING (LABOR AND REGULATION) > Rules of practice.
Short Summary
The provided legal document outlines the procedure for filing a petition for declaratory ruling with the South Dakota State Banking Commission. It applies to individuals or entities seeking a ruling on the applicability of a statutory provision, rule, or order issued by the commission. The petitioner must provide the relevant statute, rule, or order, along with the facts and circumstances giving rise to the issue. The commission will issue a declaratory ruling in response to the precise issue presented. The document includes the required format for the petition and the petitioner’s signature. The source of this document is SL 1975, ch 16, 1; 8 SDR 31, effective September 30, 1981; 12 SDR 151, 12 SDR 155, effective July 1, 1986. The general authority for this document is SDCL 51A-2-13, and it implements SDCL 1-26-15. Upon receipt of the petition, the commission may request from the petitioner any other information it requires for the issuance of its ruling. Within 30 days following the receipt of the petition or within 30 days following receipt of the requested information, the commission shall issue its declaratory ruling and serve a copy of it by mail upon the petitioner. Source: SL 1975, ch 16, 1; 8 SDR 31, effective September 30, 1981; 12 SDR 151, 12 SDR 155, effective July 1, 1986. General Authority: SDCL 51A-2-13. Law Implemented: SDCL 1-26-15.
Whom does it apply to?
Individuals or entities seeking a ruling on the applicability of a statutory provision, rule, or order issued by the commission
What does it govern?
Filing a petition for declaratory ruling with the South Dakota State Banking Commission
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
South Dakota