PIERRE, S.D.(DRGNews)- South Dakota will receive a minimum of $52.6 million ($52,612,676) as its share in a landmark $17.1 billion multi-state settlement with Meta Platforms, Inc.

Attorney General Marty Jackley said this settlement sets “the national standard” for online and social media.

Jackley said the dollar amount could get much larger if an agreement is reached with three other social media platforms.

If approved by the federal judge, Jackley said the money would be deposited into the Attorney General’s Office consumer fund, but state lawmakers will determine how it’s spent.

Despite the large settlement dollar amount, Jackley believes the true “win” is the actions Meta is required to take. One, is establishing stronger parental controls.

The second thing Meta must do is establish time limitations.

The Meta settlement is one of the largest state consumer protection settlements in United States history, outside of the Big Tobacco settlements of the 1990s.

The agreement is contingent upon the approval of the terms by the U.S. District Court for the Northern District of California– the Court that’s hearing a lawsuit filed against Meta by South Dakota and 28 other states.