TITLE 26

BANKS AND BANKING

CHAPTER 29

MONEY TRANSMISSION

26-2928.  Appointment of director as agent for service of process. (1) Any licensee, authorized representative or other person who knowingly engages in business activities that are regulated under the provisions of this chapter, with or without filing an application, is deemed to have done both the following:

(a)  Consented to the jurisdiction of the courts of this state for all actions arising under the provisions of this chapter; and

(b)  Appointed the director as his lawful agent for the purpose of accepting service of process in any action, suit or proceeding that may arise under the provisions of this chapter.

(2)  Within three (3) business days after service of process upon the director, the director shall transmit by certified mail copies of all lawful processes accepted by the director as an agent to that person at his last known address. Service of process shall be considered complete three (3) business days after the director deposits copies of the documents in the United States mail.

History:

[26-2928, added 1994, ch. 410, sec. 1, p. 1295.]