South Dakota § 54-4-42 - Bond to be filed with application.
Full text of South Dakota South Dakota Codified Laws § 54-4-42 — Bond to be filed with application., with citation guidance and answers to common questions.
§ 54-4-42. Bond to be filed with application.
The applicant shall submit with the application for a license a bond in an amount not to exceed the total of ten thousand dollars for the first license and two thousand five hundred dollars for each additional license. The bond shall be satisfactory to the director and issued by a surety company qualified to do business as a surety in this state. The bond shall be in favor of this state for the use of this state and any person who has a cause of action under this chapter against the licensee. The bond shall be conditioned on:
(1) The licensee's faithful performance under this chapter and any rules adopted pursuant to this chapter; and
(2) The payment of any amounts that are due to the state or another person during the calendar year for which the bond is given.
The aggregate liability of a surety to all persons damaged by a licensee's violation of this chapter may not exceed the amount of the bond.
Source: SL 1998, ch 280, § 7; SL 2005, ch 258, § 2; SL 2006, ch 245, § 5.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 54-4-42
What does South Dakota Codified Laws § 54-4-42 cover?
Section 54-4-42 ("Bond to be filed with application.") is part of the South Dakota Codified Laws, the codified statutory law of South Dakota. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite South Dakota § 54-4-42?
A common citation format is "South Dakota Codified Laws § 54-4-42" (South Dakota). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of South Dakota law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the South Dakota official source linked on this page or consult a licensed South Dakota attorney.
How does South Dakota § 54-4-42 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in South Dakota can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in South Dakota.