reglab/statecodes huggingface dataset:
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 32 - Surplus Line Insurance › Section 58-32-21 - Placement in authorized insurer--Violation as misdemeanor.

58-32-21. Placement in authorized insurer--Violation as misdemeanor.
The broker shall place surplus line insurance only in an insurer which meets the requirements of §§58-32-22 to 58-32-24, inclusive. Violation of this section is a Class 2 misdemeanor.
Source:
SL 1966, ch 111, ch 11, §6 (2); SL 1978, ch 359, §2.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 32 - Surplus Line Insurance › Section 58-32-22 - Requirements for placing surplus lines insurance.

58-32-22. Requirements for placing surplus lines insurance.
Surplus lines insurance may be placed by a surplus lines licensee if the insurer is authorized to write the type of insurance in its domiciliary jurisdiction, and either meets the criteria established through a multi-state agreement pursuant to §58-32-45 or meets one of the following criteria:
(1)The insurer has capital and surplus or its equivalent under the laws of its domiciliary jurisdiction which equals the greater of:
(a)The minimum capital and surplus requirements under §58-6-23; or
(b)Fifteen million dollars; or
(2)The insurer is a nonadmitted insurer domiciled outside the United States that is listed on the Quarterly Listing of Alien Insurers maintained by the International Insurers Department of the National Association of Insurance Commissions.
The requirements of subdivision (1) of this section may be satisfied by an insurer's possessing less than the minimum capital and surplus upon an affirmative finding of acceptability by the director. The finding shall be based upon such factors as quality of management, capital and surplus of any parent company, company underwriting profit and investment income trends, market availability, and company record and reputation within the industry. The director may not make an affirmative finding of acceptability if the nonadmitted insurer's capital and surplus is less than four million five hundred thousand dollars.
Source:
SL 1966, ch 111, ch 11, §6(2); SL 1986, ch 420; SL 1990, ch 407, §2; SL 2011, ch 223, §3.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 32 - Surplus Line Insurance › Section 58-32-23 - Financial condition of surplus line insurer--Director not required to determine.

58-32-23. Financial condition of surplus line insurer--Director not required to determine.
Subdivision 58-32-22(3) shall not be deemed to place upon the director any duty or responsibility to determine the actual financial condition or claims practices of any unauthorized insurer; and the eligibility of an insurer hereunder shall indicate only that the insurer appears to be sound financially and to have satisfactory claims practices, and that the director has no credible evidence to the contrary.
Source:
SL 1966, ch 111, ch 11, §6 (3).
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 32 - Surplus Line Insurance › Section 58-32-24 - Ineligibility of surplus line insurer because of financial condition--Order of director--Grounds.

58-32-24. Ineligibility of surplus line insurer because of financial condition--Order of director--Grounds.
The insurer with which surplus line insurance is placed shall be in compliance with either subdivision 58-32-22(1), (2), or (3) and not be ineligible as a surplus line insurer by order of the director received by or known to the broker. The director may issue such an order of ineligibility if the director finds, after a hearing conducted pursuant to chapter 1-26, that the insurer:
(1)Does not meet the requirements of §§58-32-21 to 58-32-25, inclusive;
(2)Has without just cause refused to pay claims arising under its contracts in the United States or has otherwise conducted its affairs in such manner as to result in injury or loss to the insuring public of the United States;
(3)Has failed to file the annual statement required in §58-32-16.1;
(4)Has failed to provide information within twenty days of a request from the division;
(5)Has utilized surplus lines brokers who were not properly licensed in this state; or
(6)Has failed, within thirty days after notice, to provide the name of the broker that placed the insurance and the name of the insured.
Source:
SL 1966, ch 111, ch 11, §6 (2) (d); SL 1990, ch 407, §3; SL 2000, ch 249, §1; SL 2002, ch 243, §1.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 32 - Surplus Line Insurance › Section 58-32-25 - Financial condition of surplus line insurer--Ascertainment by broker--Violation as misdemeanor.

58-32-25. Financial condition of surplus line insurer--Ascertainment by broker--Violation as misdemeanor.
A broker shall not knowingly place surplus line insurance with an insurer that is unsound financially, or that is ineligible under §§58-32-21 to 58-32-24, inclusive. The broker shall ascertain the financial condition of the unauthorized insurer to the extent that the same is shown by recent financial statements of the insurer filed with public authorities or published, or as otherwise known to the broker, before placing insurance therewith. Violation of this section is a Class 2 misdemeanor.
Source:
SL 1966, ch 111, ch 11, §6 (1); SL 1978, ch 359, §2.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 32 - Surplus Line Insurance › Section 58-32-26 - Violation as misdemeanor--Revocation of licenses after hearing--Waiting period for new license.

58-32-26. Violation as misdemeanor--Revocation of licenses after hearing--Waiting period for new license.
A broker who violates any provision in §§58-32-21 to 58-32-25, inclusive, is guilty of a Class 2 misdemeanor. If the director finds, after hearing conducted pursuant to chapter 1-26, that the broker has violated any of such sections he shall revoke all licenses held by him under this title, and shall not again license such individual under this title within a period of two years after such revocation became final.
Source:
SL 1966, ch 111, ch 11, §7; SL 1978, ch 359, §6.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 32 - Surplus Line Insurance › Section 58-32-27 - Evidence of insurance--Certificate, execution, content.

58-32-27. Evidence of insurance--Certificate, execution, content.
Upon placing a surplus line coverage, the broker shall promptly issue and deliver to the insured evidence of the insurance consisting either of the policy as issued by the insurer or, if such policy is not then available, the surplus line broker's certificate of insurance. Such a certificate shall be executed by the broker and shall show the description and location of the subject of the insurance, coverage, conditions and term of the insurance, the premium and rate charged and taxes collected from the insured, and the name and address of the insured and insurer. If the direct risk is assumed by more than one insurer, the certificate shall state the name and address and proportion of the entire direct risk assumed by each such insurer.
Source:
SL 1966, ch 111, ch 11, §8 (1).
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 32 - Surplus Line Insurance › Section 58-32-28 - Authority of broker to make certificate as to insurance granted by unauthorized insurer.

58-32-28. Authority of broker to make certificate as to insurance granted by unauthorized insurer.
No broker shall issue any such certificate or purport or represent that insurance will be or has been granted by any unauthorized insurer, unless he has prior written authority from the insurer, or has received information from the insurer in the regular course of business that such insurance has been granted.
Source:
SL 1966, ch 111, ch 11, §8 (2).
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 32 - Surplus Line Insurance › Section 58-32-29 - Change in evidence of insurance--Substitute certificate by broker.

58-32-29. Change in evidence of insurance--Substitute certificate by broker.
If after the issuance and delivery of any such certificate there is any change as to the identity of the insurers, or the proportion of the direct risk assumed by an insurer as stated in the broker's original certificate, or in any other material respect as to the insurance coverage evidenced by the certificate, the broker shall promptly issue and deliver to the insured a substitute certificate accurately showing the current status of the coverage and the insurers responsible thereunder.
Source:
SL 1966, ch 111, ch 11, §8 (3).
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 32 - Surplus Line Insurance › Section 58-32-30 - False certificate by broker--Failure to notify insured as to material change--Misdemeanor.

58-32-30. False certificate by broker--Failure to notify insured as to material change--Misdemeanor.
Any surplus line broker who knowingly or negligently issues a false certificate, or who fails promptly to notify the insured of any material change with respect to such insurance by delivery to the insured of a substitute certificate as provided in §58-32-29, commits a Class 2 misdemeanor.
Source:
SL 1966, ch 111, ch 11, §8 (5); SL 1978, ch 359, §2.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 32 - Surplus Line Insurance › Section 58-32-31 - Replacement of broker's certificate when policy issued.

58-32-31. Replacement of broker's certificate when policy issued.
If a policy issued by the insurer is not available upon placement of the insurance and the broker has issued and delivered his certificate as provided in §58-32-27, upon request therefor by the insured, the broker shall as soon as reasonably possible procure from the insurer its policy evidencing such insurance and deliver such policy to the insured in replacement of the broker's certificate theretofore issued.
Source:
SL 1966, ch 111, ch 11, §8 (4).
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 32 - Surplus Line Insurance › Section 58-32-32 - Endorsement of contract--Violation as misdemeanor.

58-32-32. Endorsement of contract--Violation as misdemeanor.
Every insurance contract procured and delivered as a surplus line coverage pursuant to this chapter shall have stamped upon it, and be initialed by or bear the name of the surplus line broker who procured it in ten point or larger, boldface type, the following:
"THIS INSURANCE CONTRACT IS ISSUED BY A NONADMITTED INSURER WHICH IS NOT LICENSED BY NOR UNDER THE JURISDICTION OF THE SOUTH DAKOTA INSURANCE DIRECTOR."
Violation of this section is a Class 2 misdemeanor.
Source:
SL 1966, ch 111, ch 11, §9; SL 1978, ch 359, §2.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 32 - Surplus Line Insurance › Section 58-32-33 - Surplus line insurance valid.

58-32-33. Surplus line insurance valid.
Insurance contracts procured as surplus line coverage from unauthorized insurers shall be valid and enforceable as to all parties, the same as like contracts issued by authorized insurers.
Source:
SL 1966, ch 111, ch 11, §10.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 32 - Surplus Line Insurance › Section 58-32-34 - Liability of insurer as to losses and unearned premiums.

58-32-34. Liability of insurer as to losses and unearned premiums.
As to a surplus line risk which has been assumed by an unauthorized insurer and for which the premium has been received by the surplus line broker who placed such insurance, the insurer shall be deemed to have received the premium due to it for such coverage, and for unearned premiums which may become payable to the insured upon cancellation of such insurance, whether or not the broker is indebted to the insurer with respect to such insurance or for any other cause.
Source:
SL 1966, ch 111, ch 11, §11 (1).
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 32 - Surplus Line Insurance › Section 58-32-35 - Assumption of surplus line direct risk--Extent of liability.

58-32-35. Assumption of surplus line direct risk--Extent of liability.
Each unauthorized insurer assuming a surplus line direct risk shall be deemed thereby to have subjected itself to the terms of §58-32-34.
Source:
SL 1966, ch 111, ch 11, §11 (2).
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 32 - Surplus Line Insurance › Section 58-32-36 - Venue of action against unauthorized insurer.

58-32-36. Venue of action against unauthorized insurer.
Any cause of action against an unauthorized insurer arising in this state on a surplus line contract shall be brought in the circuit court for the county in which the cause of action arose.
Source:
SL 1966, ch 111, ch 11, §20 (1).
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 32 - Surplus Line Insurance › Section 58-32-37 - Action against unauthorized insurer--Service of process on director--Jurisdiction of court.

58-32-37. Action against unauthorized insurer--Service of process on director--Jurisdiction of court.
Service of legal process against the insurer may be made in any such action by service upon the director as provided in §58-6-39. The director shall forthwith mail a copy of the process served to the person designated by the insurer in the policy for the purpose, by prepaid registered or certified mail with return receipt requested. The insurer shall have thirty days from the date of service upon the director within which to plead, answer, or otherwise defend the action. Upon service of process upon the director in accordance with this provision, the court shall be deemed to have jurisdiction in personam of the insurer.
Source:
SL 1966, ch 111, ch 11, §20 (2); SL 1982, ch 28, §18.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 32 - Surplus Line Insurance › Section 58-32-38 - Director appointed process agent--Policy provision--Mailing of process to defendant.

58-32-38. Director appointed process agent--Policy provision--Mailing of process to defendant.
An unauthorized insurer issuing such policy shall be deemed thereby to have authorized service of process against it in the manner and to the effect as provided in §58-32-37. Any such policy shall contain a provision stating the substance of §§58-32-36 to 58-32-38, inclusive, and designating the person to whom the director shall mail process as provided in §58-32-37.
Source:
SL 1966, ch 111, ch 11, §20 (3).
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 32 - Surplus Line Insurance › Section 58-32-39 - Record by broker of each surplus line coverage--Violation as misdemeanor.

58-32-39. Record by broker of each surplus line coverage--Violation as misdemeanor.
Each broker shall keep in the broker's office a record of each surplus line coverage procured by the broker, including a copy of each daily report, if any; a copy of each certificate issued by the broker; and the following items as may be applicable:
(1)Amount of the insurance;
(2)Gross premium charged;
(3)Return premium paid, if any;
(4)Rate of premium charged upon the several items of property;
(5)Effective date of the contract, and the terms thereof;
(6)Name and address of each insurer on the direct risk and the proportion of the entire risk assumed by such insurer if less than the entire risk;
(7)Name and address of the insured;
(8)Brief general description of the property or risk insured and where located or to be performed; and
(9)Other information as may be required by the director.
A violation of this section is a Class 2 misdemeanor.
Source:
SL 1966, ch 111, ch 11, §16 (1); SL 1978, ch 359, §2; SL 2015, ch 260, §10.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 32 - Surplus Line Insurance › Section 58-32-40 - Record open to examination by director--Violation as misdemeanor.

58-32-40. Record open to examination by director--Violation as misdemeanor.
The record shall at all times within five years after issuance of the coverage to which it relates be open to examination by the director. A violation of this section is a Class 2 misdemeanor.
Source:
SL 1966, ch 111, ch 11, §16 (2); SL 1978, ch 359, §2; SL 2015, ch 260, §11.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 32 - Surplus Line Insurance › Section 58-32-41 - Annual statement of broker--Filing with director--Violation as misdemeanor.

58-32-41. Annual statement of broker--Filing with director--Violation as misdemeanor.
Each broker shall before the first day of April of each year file with the director a verified statement of all surplus line insurance transacted by him during the preceding calendar year. Violation of this section is a Class 2 misdemeanor.
Source:
SL 1966, ch 111, ch 11, §17 (1); SL 1978, ch 359, §2.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 32 - Surplus Line Insurance › Section 58-32-42 - Annual statement of broker--Form and contents.

58-32-42. Annual statement of broker--Form and contents.
The statement shall be on forms furnished by the director and shall show:
(1)Gross amount of each kind of insurance transacted;
(2)Aggregate gross premiums charged;
(3)Aggregate of returned premiums paid to insureds;
(4)Aggregate of net premiums; and
(5)Additional information as required by the director.
Source:
SL 1966, ch 111, ch 11, §17 (2).
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 32 - Surplus Line Insurance › Section 58-32-42.1 - Uniform report may be prescribed in lieu of annual statement or affidavit as to exported insurance.

58-32-42.1. Uniform report may be prescribed in lieu of annual statement or affidavit as to exported insurance.
The director may prescribe the use of a nationally recognized uniform report for the filing of information contained in affidavits, annual statements, and other reports for surplus lines brokers. If prescribed by the director, the uniform report shall be used in lieu of and satisfies the provisions of §§58-32-20, 58-32-41, and 58-32-42. The uniform report shall contain information sufficient to determine the amount and type of surplus lines insurance written in this state and sufficient to determine the appropriate amount of tax to be paid pursuant to this title.
Source:
SL 2010, ch 242, §1.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 32 - Surplus Line Insurance › Section 58-32-43 - Records of interstate commerce coverage--Report to director--Violation as misdemeanor.

58-32-43. Records of interstate commerce coverage--Report to director--Violation as misdemeanor.
Licensed insurance producers and brokers placing any insurance enumerated in subdivisions 58-32-5(1) to (4), inclusive, with an authorized insurer shall keep a record of each such coverage in detail as required of surplus line insurance under this chapter. The record shall be preserved for not less than five years from the effective date of the insurance and shall be kept available in this state for examination by the director. The broker shall furnish to the director at the director's request and on forms furnished by the director a report of all such coverages so placed in a designated calendar year. Any violation of this section is a Class 2 misdemeanor.
Source:
SL 1966, ch 111, ch 11, §2 (2); SL 1978, ch 359, §2; SL 2001, ch 286, §199.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 32 - Surplus Line Insurance › Section 58-32-44 - Tax on premiums--Time for remittance--Credit to general fund.

58-32-44. Tax on premiums--Time for remittance--Credit to general fund.
Before the first day of April of each year, each broker shall remit to the state treasurer, through the director of the Division of Insurance, a tax on the premiums, exclusive of sums collected to cover federal and state taxes and examination fees, on surplus line insurance transacted by the broker at the rate and in the manner provided by §10-44-2. If in any prior calendar year a broker collects and remits in excess of five thousand dollars of surplus lines premium tax, the broker shall in the following year remit the tax on a quarterly basis. The tax is in lieu of all other taxes upon such insurers with respect to the business so reported. When collected, the tax shall be credited to the general fund. If the director has entered into an agreement as provided for by §58-32-45, taxes may be required to be remitted as may be specified by such an agreement.
Source:
SL 1966, ch 111, ch 11, §18 (1); SL 1980, ch 360; SL 2011, ch 223, §4.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 32 - Surplus Line Insurance › Section 58-32-45 - Premium tax when only part of risk in state--Multi-state agreement--Apportionment.

58-32-45. Premium tax when only part of risk in state--Multi-state agreement--Apportionment.
For a surplus lines policy issued to an insured whose home state is this state and where only a portion of the risk is located in this state, the entire premium tax shall be paid to the director in accordance with §58-32-44. If the director finds it would increase the efficiency of the surplus lines insurance marketplace as well as the regulation of the surplus lines market, the director may enter into a multi-state surplus lines agreement for the eligibility for placement of surplus lines insurance and the payment, reporting, collection, and apportionment of surplus lines premium taxes. If a surplus line policy covers risks or exposures only partially in this state and the director has entered into agreement with other states for the apportionment of premium taxes for multi-state risks, the tax payable under §58-32-44 shall be computed and paid upon the proportion of the premium which is properly allocable to the risks or exposures located in this state according to the terms of any such agreement. The multi-state agreement may also include the eligibility for placement of surplus lines insurance and the payment, reporting, collection, and apportionment of surplus lines premium taxes for risks that are not multi-state and for independently procured surplus lines pursuant to §§58-32-47 to 58-32-55, inclusive.
Source:
SL 1966, ch 111, ch 11, §18 (2); SL 2011, ch 223, §5.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 32 - Surplus Line Insurance › Section 58-32-46 - Fine for failure to remit tax or to file annual statement or uniform report--Collection.

58-32-46. Fine for failure to remit tax or to file annual statement or uniform report--Collection.
A broker is liable for a fine of twenty-five dollars for each day of delinquency commencing with the first day of April if any of the following apply:
(1)The broker fails to remit the tax provided by §58-32-44 prior to the first day of April;
(2)The broker fails to file the annual statement, unless a uniform report has been prescribed pursuant to §58-32-42.1; or
(3)The broker fails to file the uniform report pursuant to §58-32-42.1.
The tax may be collected by distraint, or the tax and fine may be recovered by an action instituted by the director in any court of competent jurisdiction. Any fine collected by the director shall be paid to the state treasurer and credited to the general fund.
Source:
SL 1966, ch 111, ch 11, §19; SL 2010, ch 242, §2.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 32 - Surplus Line Insurance › Section 58-32-47 - Report of independently procured coverages--Violation as misdemeanor.

58-32-47. Report of independently procured coverages--Violation as misdemeanor.
Every insured who in this state procures or causes to be procured or continues or renews insurance in an unauthorized foreign insurer, or any self-insurer who in this state so procures or continues excess loss, catastrophe or other insurance, upon a subject of insurance resident, located or to be performed within this state, other than insurance procured through a surplus line broker subject to §§58-32-44 and 58-32-45, shall within thirty days after the date such insurance was so procured, continued or renewed file a written report of the same with the director on forms furnished by the director to the insured, giving the name and address of the insurer, the subject of the insurance, a general description of the coverage, the amount of premium currently charged therefor, and such additional pertinent information as the director reasonably requests. If the insurance covers also a subject of insurance resident, located or to be performed outside this state a proper prorata portion of the entire premium payable for all such insurance shall be allocated to this state for the purposes of §58-32-50.
Violation of this section is a Class 2 misdemeanor.
Source:
SL 1966, ch 111, ch 11, §22 (1); SL 1978, ch 359, §2.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 32 - Surplus Line Insurance › Section 58-32-48 - Negotiations, application, or premium payment bringing independently procured coverages within jurisdiction.

58-32-48. Negotiations, application, or premium payment bringing independently procured coverages within jurisdiction.
Any insurance in an unauthorized insurer procured through negotiations or an application in whole or in part occurring or made within or from within this state, or for which premiums in whole or in part are remitted directly or indirectly from within this state, shall be deemed to be insurance procured or continued or renewed in this state within the intent of §58-32-47.
Source:
SL 1966, ch 111, ch 11, §22 (2).
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 32 - Surplus Line Insurance › Section 58-32-49 - Production of records of insured for examination--Refusal to obey order of director as misdemeanor.

58-32-49. Production of records of insured for examination--Refusal to obey order of director as misdemeanor.
In order that the director may effectively administer the various provisions of this chapter, every person as to whom insurance has been placed with an unauthorized insurer shall, upon the director's order, produce for his examination all policies and other documents evidencing the insurance, and shall disclose to the director the amount of premiums paid or agreed to be paid for the insurance. Each refusal to obey such order is a Class 2 misdemeanor.
Source:
SL 1966, ch 111, ch 11, §23 (1); SL 1978, ch 359, §2.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 32 - Surplus Line Insurance › Section 58-32-50 - Tax on independently procured coverages--Payment to director, time.

58-32-50. Tax on independently procured coverages--Payment to director, time.
For the general support of the government of this state there is levied upon the insured with respect to the obligation, chose in action, or rights represented by insurance described in §58-32-47, a tax at the rate of two and one-half percent of the gross amount of the premium charged for the insurance. Within thirty days after the insurance was so procured, continued or renewed, and coincidentally with the filing with the director of the report provided for in §58-32-47, the insured shall pay the amount of the tax to the director.
Source:
SL 1966, ch 111, ch 11, §22(3); SL 1986, ch 99, §2.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 32 - Surplus Line Insurance › Section 58-32-51 - Interest on delinquent tax on independently procured coverages.

58-32-51. Interest on delinquent tax on independently procured coverages.
The tax imposed under §58-32-50, if delinquent, shall bear interest at the Category D rate of interest as established in §54-3-16, compounded annually.
Source:
SL 1966, ch 111, ch 11, §22 (4); SL 1983, ch 28, §67; SL 1984, ch 319, §33.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 32 - Surplus Line Insurance › Section 58-32-52 - Insured's liability for tax on independently procured coverages.

58-32-52. Insured's liability for tax on independently procured coverages.
The tax imposed by §58-32-50 shall be collectible from the insured by civil action brought by the director, or by distraint.
Source:
SL 1966, ch 111, ch 11, §22 (5).
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 32 - Surplus Line Insurance › Section 58-32-53 - Deposits of taxes and interest collected on independently procured coverage.

58-32-53. Deposits of taxes and interest collected on independently procured coverage.
The director shall promptly deposit all taxes and interest collected under §§58-32-50 to 58-32-52, inclusive, with the state treasurer to the credit of the state's general fund.
Source:
SL 1966, ch 111, ch 11, §22 (6).
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 32 - Surplus Line Insurance › Section 58-32-54 - Provisions on independently procured coverages do not affect unauthorized insurers.

58-32-54. Provisions on independently procured coverages do not affect unauthorized insurers.
Sections 58-32-47 to 58-32-53, inclusive, do not abrogate or modify any provision of this title covering unauthorized insurers or suits against unauthorized insurers.
Source:
SL 1966, ch 111, ch 11, §22 (7).
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 32 - Surplus Line Insurance › Section 58-32-55 - Provisions on independently procured coverages inapplicable to life or health insurance, or annuities.

58-32-55. Provisions on independently procured coverages inapplicable to life or health insurance, or annuities.
Sections 58-32-47 to 58-32-53, inclusive, do not apply as to life or health insurances, or annuities.
Source:
SL 1966, ch 111, ch 11, §§22 (8), 23 (2).
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 32 - Surplus Line Insurance › Section 58-32-56 - Rules and regulations--Adoption by director.

58-32-56. Rules and regulations--Adoption by director.
The director may adopt reasonable rules and regulations, consistent with this chapter, for any or all of the following purposes:
(1)Effectuation of such chapter;
(2)Establishment of procedures through which determination is to be made as to the eligibility of particular proposed coverages for export; and
(3)Establishment, procedures, and operations of any voluntary organization of brokers or others designated to assist such brokers to comply with such chapter.
Source:
SL 1966, ch 111, ch 11, §21 (1).
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 33 - Unfair Trade Practices › Section 58-33-1 - Purposes of chapter.

58-33-1.Purposes of chapter.
The purpose of this chapter is to regulate trade practices in the business of insurance in accordance with the intent of Congress as expressed in the act of Congress of March 9, 1945, (Public Law 15, 79th Congress, ch. 20, 50 U. S. Stat. at Large 33), by defining, or providing for determination of, all such practices in this state which constitute unfair methods of competition or unfair or deceptive acts or practices and by prohibiting the trade practices so defined or determined.
Source:
SL 1966, ch 111, ch 13, §1.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 33 - Unfair Trade Practices › Section 58-33-2 - Unfair method or deceptive act as misdemeanor.

58-33-2. Unfair method or deceptive act as misdemeanor.
No person shall engage in this state in any trade practice which is defined in this chapter as, or determined pursuant to this chapter to be, an unfair method of competition or an unfair or deceptive act or practice in the business of insurance. Violation of this section is a Class 2 misdemeanor.
Source:
SL 1966, ch 111, ch 13, §2; SL 1978, ch 359, §2.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 33 - Unfair Trade Practices › Section 58-33-3 - Acts constituting unfair methods of competition and unfair or deceptive practices.

58-33-3. Acts constituting unfair methods of competition and unfair or deceptive practices.
The following are hereby defined as unfair methods of competition and unfair and deceptive acts or practices in the business of insurance, viz: The commission of any one or more of the acts prohibited by §§58-33-4 to 58-33-37, inclusive.
Source:
SL 1966, ch 111, ch 13, §3.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 33 - Unfair Trade Practices › Section 58-33-4 - Use of misleading name as misdemeanor.

58-33-4. Use of misleading name as misdemeanor.
No person who is not an insurer shall assume or use any name which deceptively infers or suggests that he is an insurer. Violation of this section is a Class 2 misdemeanor.
Source:
SL 1966, ch 111, ch 13, §24; SL 1978, ch 359, §2.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 33 - Unfair Trade Practices › Section 58-33-5 - Misrepresentation or false advertising of policies as misdemeanor.

58-33-5. Misrepresentation or false advertising of policies as misdemeanor.
No person shall make, issue, circulate, or cause to be made, issued, or circulated, any estimate, circular, or statement misrepresenting the terms of any policy issued or to be issued or the benefits or advantages promised thereby or the dividends or share of the surplus to be received thereon, or make any false or misleading statement as to the dividends or share of surplus previously paid on similar policies, or make any misleading representation or any misrepresentation as to the financial condition of any insurer, or as to the legal reserve system upon which any life insurer operates, or use any name or title of any policy or class of policies misrepresenting the true nature thereof. Violation of this section is a Class 2 misdemeanor.
Source:
SL 1966, ch 111, ch 13, §6; SL 1978, ch 359, §2.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 33 - Unfair Trade Practices › Section 58-33-5.1 - Rules to promote proper disclosure of terms and conditions of life insurance policies.

58-33-5.1. Rules to promote proper disclosure of terms and conditions of life insurance policies.
The director of insurance shall promulgate rules pursuant to chapter 1-26 to promote the proper disclosure of the terms and conditions of life insurance policies and to prohibit the misrepresentation of life insurance policies through the establishment of minimum standards for the advertisement and solicitation of life insurance. The rules shall provide for illustration formats, prescribe standards to be followed when illustrations are used, and specify the disclosures that are required in connection with illustrations. In setting the standards, the director shall consider the models adopted by the National Association of Insurance Commissioners, including the Life Insurance Illustrations Model Regulation.
Source:
SL 1997, ch 296, §1.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 33 - Unfair Trade Practices › Section 58-33-6 - False information or advertising as misdemeanor.

58-33-6. False information or advertising as misdemeanor.
No person shall make, publish, disseminate, circulate, or place before the public, or cause, directly or indirectly, to be made, published, disseminated, circulated, or placed before the public, in a newspaper, magazine, or other publication, or in the form of a notice, circular, pamphlet, letter, or poster, or over any radio or television station, or in any other way, an advertisement, announcement, or statement containing any assertion, representation, or statement with respect to the business of insurance or with respect to any person in the conduct of his insurance business, which is untrue, deceptive, or misleading. Violation of this section is a Class 2 misdemeanor.
Source:
SL 1966, ch 111, ch 13, §7; SL 1978, ch 359, §2.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 33 - Unfair Trade Practices › Section 58-33-7 - Defamation as misdemeanor.

58-33-7. Defamation as misdemeanor.
No person shall make, publish, disseminate, or circulate, directly or indirectly, or aid, abet, or encourage the making, publishing, disseminating, or circulating of any oral or written statement or any pamphlet, circular, article, or literature which is false, or maliciously critical of or derogatory to the financial condition of an insurer, or of an organization proposing to become an insurer, and which is calculated to injure any person engaged or proposing to engage in the business of insurance. Violation of this section is a Class 2 misdemeanor.
Source:
SL 1966, ch 111, ch 13, §8; SL 1978, ch 359, §2.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 33 - Unfair Trade Practices › Section 58-33-8 - Twisting as misdemeanor.

58-33-8. Twisting as misdemeanor.
No person shall make or issue, or cause to be made or issued, any written or oral statement misrepresenting or making incomplete comparisons as to the terms, conditions, or benefits contained in any policy for the purpose of inducing or attempting or tending to induce a policyholder to lapse, forfeit, surrender, retain, exchange, or convert any insurance policy. Violation of this section is a Class 2 misdemeanor.
Source:
SL 1966, ch 111, ch 13, §17; SL 1978, ch 359, §2.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 33 - Unfair Trade Practices › Section 58-33-9 - False entry with intent to deceive--Omission of true entry--Misdemeanor.

58-33-9. False entry with intent to deceive--Omission of true entry--Misdemeanor.
No persons shall make any false entry in any book, report, or statement of any insurer with intent to deceive any agent or examiner lawfully appointed to examine into its condition or into any of its affairs, or any public official to whom such insurer is required by law to report, or who has authority by law to examine into its condition or into any of its affairs, or, with like intent, willfully omit to make a true entry of any material fact pertaining to the business of such insurer in any book, report, or statement of such insurer. Violation of this section is a Class 2 misdemeanor.
Source:
SL 1966, ch 111, ch 13, §10 (2); SL 1978, ch 359, §2.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 33 - Unfair Trade Practices › Section 58-33-10 - False financial statement as misdemeanor.

58-33-10. False financial statement as misdemeanor.
No person shall file with any supervisory or other public official, or make, publish, disseminate, circulate, or deliver to any person, or place before the public, or cause directly or indirectly, to be made, published, disseminated, circulated, delivered to any person, or placed before the public, any false statement of financial condition of an insurer with intent to deceive. Violation of this section is a Class 2 misdemeanor.
Source:
SL 1966, ch 111, ch 13, §10 (1); SL 1978, ch 359, §2.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 33 - Unfair Trade Practices › Section 58-33-11 - Stock operations and advisory board contracts as inducement--Misdemeanor.

58-33-11. Stock operations and advisory board contracts as inducement--Misdemeanor.
No person may issue or deliver or permit its insurance producers, officers, or employees to issue or deliver, agency company stock or other capital stock, or benefit certificates or shares in any common law corporation, or any advisory board contract or other similar contract of any kind promising returns and profits as an inducement to insurance. Any violation of this section is a Class 2 misdemeanor.
Source:
SL 1966, ch 111, ch 13, §11; SL 1978, ch 359, §2; SL 2001, ch 286, §200.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 33 - Unfair Trade Practices › Section 58-33-12 - Unfair discrimination as misdemeanor--Life insurance and annuities.

58-33-12. Unfair discrimination as misdemeanor--Life insurance and annuities.
No person shall make or permit any unfair discrimination between individuals of the same class and equal expectation of life in the rates charged for any contract of life insurance or of life annuity or in the dividends or other benefits payable thereon, or in any other of the terms and conditions of such contract. Violation of this section is a Class 2 misdemeanor.
Source:
SL 1966, ch 111, ch 13, §12 (1); SL 1978, ch 359, §2.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 33 - Unfair Trade Practices › Section 58-33-12.1 - Blindness as basis for life insurance termination, modification or refusal--Unfair practice.

58-33-12.1. Blindness as basis for life insurance termination, modification or refusal--Unfair practice.
It is an unfair or discriminatory practice for an insurance company to terminate, or to modify coverage or to refuse to issue or refuse to renew any life policy or contract of life insurance solely because the applicant or insured or any employee of either is blind or partially blind. This section does not apply to accident and health insurance. This section may not be interpreted to prohibit the termination, modification, issuance, or renewal of any insurance policy or contract if the action is based on sound actuarial principles or is related to actual or reasonable anticipated experience.
Source:
SL 1983, ch 373.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 33 - Unfair Trade Practices › Section 58-33-13 - Unfair discrimination as misdemeanor--Health insurance.

58-33-13. Unfair discrimination as misdemeanor--Health insurance.
No person may make or permit any unfair discrimination between individuals of the same class and of essentially the same hazard in the amount of premium, policy fees, or rates charged for any policy or contract of health insurance or in the benefits payable thereunder, or in any of the terms or conditions of such contract, or in any other manner whatever. Violation of this section is a Class 2 misdemeanor. Nothing in this section prohibits different rates charged, or benefits payable, or different underwriting procedures used for individuals insured under a franchise plan or provided discounts based upon administrative savings or incentives for additional family members to purchase insurance.
Source:
SL 1966, ch 111, ch 13, §12 (2); SL 1978, ch 359, §2; SL 2000, ch 241, §3.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 33 - Unfair Trade Practices › Section 58-33-13.1 - Sex or marital status discrimination prohibited--Exceptions.

58-33-13.1. Sex or marital status discrimination prohibited--Exceptions.
An insurance contract may not be denied to an insured or prospective insured on the basis of his or her sex or marital status. The amount of benefits payable, or any term, conditions, or type of coverage shall not be restricted, modified, excluded, or reduced on the basis of the sex or marital status of the insured or prospective insured except to the extent the amount of benefits, term, conditions, or type of coverage vary as a result of the application of rate differentials permitted under this title. However, an insurer may take marital status into account for the purpose of defining persons eligible for dependents benefits. This section shall not affect the right of fraternal benefit societies to determine eligibility requirements for membership. This section shall apply to all contracts delivered or issued for delivery in this state by an insurer on or after July 1, 1980 and to all existing group contracts which are amended on or after July 1, 1980.
Source:
SL 1979, ch 341, §§19, 20.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 33 - Unfair Trade Practices › Section 58-33-13.2 - Definition of sex or marital status discrimination terms.

58-33-13.2. Definition of sex or marital status discrimination terms.
When used in this section and §58-33-13.1:
(1)"Contract" means any insurance policy, plan, or binder, including any rider or endorsement thereto offered by an insurer;
(2)"Insurer" means any insurance company, association, reciprocal or inter-insurance exchange, nonprofit hospital plan, nonprofit professional health service plan, health maintenance organization, fraternal benefit society, or beneficial association.
Source:
SL 1979, ch 341, §§17, 18.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 33 - Unfair Trade Practices › Section 58-33-13.3 - Domestic violence victim discrimination prohibited.

58-33-13.3. Domestic violence victim discrimination prohibited.
No insurer may ask any questions about an individual's status as a victim of domestic violence for the purposes of offering, selling, or renewing coverage; limiting coverage; or charging a rate different from that normally charged for the same coverage under any life or health insurance policy.
Source:
SL 2010, ch 243, §1.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 33 - Unfair Trade Practices › Section 58-33-14 - Rebate as misdemeanor--Life, disability and annuity contracts.

58-33-14. Rebate as misdemeanor--Life, disability and annuity contracts.
Except as otherwise provided by law, no person shall knowingly permit or offer to make or make any contract of life insurance, life annuity or health insurance, or agreement as to such contract other than is plainly expressed in the contract issued thereon, or pay or allow, or give or offer to pay, allow, or give, directly or indirectly, as inducement to such insurance, or annuity, any rebate of premiums payable on the contract, or any special favor or advantage in the dividends or other benefits thereon, or any paid employment or contract for services of any kind, or any valuable consideration or inducement whatever not specified in the contract; or directly or indirectly give or sell, or purchase or offer or agree to give, sell, purchase, or allow as inducement to such insurance or annuity or in connection therewith, and whether or not to be specified in the policy or contract, any agreement of any form or nature promising returns and profits, or any stocks, bonds, or other securities, or interest present or contingent therein or as measured thereby, of any insurance company or other corporation, association, or partnership, or any dividends or profits accrued or to accrue thereon; or offer, promise or give anything of value whatsoever not specified in the contract. Violation of this section is a Class 2 misdemeanor.
Source:
SL 1966, ch 111, ch 13, §13; SL 1978, ch 359, §2.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 33 - Unfair Trade Practices › Section 58-33-15 - Insurance not to be used to induce purchases of commodities or services--Misdemeanor.

58-33-15. Insurance not to be used to induce purchases of commodities or services--Misdemeanor.
No insurer may, directly or indirectly through its insurance producers or representatives, participate in any plan to offer or effect any kind or kinds of life insurance, health insurance, property insurance, casualty insurance, surety insurance, or annuities in this state as an inducement to, or in combination with, the purchase by the public of any goods, securities, commodities, services, or subscriptions to periodicals, except upon the payment of a bona fide premium by the insured. Any violation of this section is a Class 2 misdemeanor.
Source:
SL 1966, ch 111, ch 13, §14 (1); SL 1967, ch 132; SL 1978, ch 359, §2; SL 2001, ch 286, §201.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 33 - Unfair Trade Practices › Section 58-33-16 - Credit life insurance permitted as inducement for purchases.

58-33-16. Credit life insurance permitted as inducement for purchases.
Section 58-33-15 shall not apply to insurance on the life of a debtor pursuant to or in connection with a specific loan or other credit transaction, or insurance on a debtor to provide indemnity for payments becoming due on a specific loan or other credit transaction while the debtor is disabled as defined in the policy.
Source:
SL 1966, ch 111, ch 13, §14 (2).
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 33 - Unfair Trade Practices › Section 58-33-17 - Bonus to policyholder from accumulated surplus on life or annuity policy not discrimination or rebate.

58-33-17. Bonus to policyholder from accumulated surplus on life or annuity policy not discrimination or rebate.
Nothing in §§58-33-14 and 58-33-15 shall be construed as including within the definition of discrimination or rebates, in the case of any contract of life insurance or life annuity, paying bonuses to policyholders or otherwise abating their premiums in whole or in part out of surplus accumulated from nonparticipating insurance, provided that any such bonuses, or abatement of premiums shall be fair and equitable to policyholders and for the best interests of its policyholders.
Source:
SL 1966, ch 111, ch 13, §15 (1).