reglab/statecodes huggingface dataset:
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 30 - Insurance Producers › Section 58-30-10 - Rights of insurance producer after termination of appointment inapplicable to employer and employee relationship.

58-30-10. Rights of insurance producer after termination of appointment inapplicable to employer and employee relationship.
The provisions of §58-30-9 do not apply as to any insurer and insurance producer between whom the relationship of employer and employee exists.
Source:
SL 1966, ch 111, ch 9, §22 (2); SL 2001, ch 286, §161.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 30 - Insurance Producers › Section 58-30-20 - Licensing provisions inapplicable to title insurance.

58-30-20. Licensing provisions inapplicable to title insurance.
The provisions of §§58-30-12.1, 58-30-143, and 58-30-169 to 58-30-176, inclusive, do not apply to title insurance.
Source:
SL 1966, ch 111, ch 9, §7 (6); SL 2001, ch 286, §163.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 30 - Insurance Producers › Section 58-30-23.6 - Criminal files check.

58-30-23.6. Criminal files check.
For the purposes of §58-30-23.7 and §§58-30-170 and 58-30-180, the division may access the criminal files of any licensee convicted of a felony or crime of moral turpitude without any authorization from the licensee. Any law enforcement agency that possesses criminal records shall provide reasonable access by the division to the records. The provisions of this section do not affect the division's ability to otherwise exchange information or cooperate with any law enforcement agency or other authorized agency.
Source:
SL 1998, ch 297, §5; SL 2001, ch 286, §164.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 30 - Insurance Producers › Section 58-30-23.7 - Joint issuance of waivers.

58-30-23.7.Joint issuance of waivers.
The division may participate with the National Association of Insurance Commissioners and the insurance regulatory offices of other states regarding the issuance of waivers pursuant to 18 U.S. C. §§1033 and 1034 as amended to January 1, 1998. The issuance of a waiver by any state is not in any manner binding upon any licensing determination made or to be made by the division.
Source:
SL 1998, ch 297, §6.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 30 - Insurance Producers › Section 58-30-27 - Licenses to insurance producers of domestic insurer insuring members of armed forces and dependents outside territorial limits.

58-30-27. Licenses to insurance producers of domestic insurer insuring members of armed forces and dependents outside territorial limits.
If any domestic company is engaged in writing insurance on the lives or property of the members of the military forces of the United States, and dependents of the members while stationed outside the continental and territorial limits of the United States, the director, if otherwise satisfied as to the qualifications of applicants for licenses as insurance producers to write the business outside the continental and territorial limits of the United States, for the companies, may issue the same type of license to the insurance producers as to any resident insurance producer.
Source:
SL 1966, ch 111, ch 9, §9 (7); SL 2001, ch 286, §165.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 30 - Insurance Producers › Section 58-30-29 - License not issued in trade name--Exception as to firm or corporation.

58-30-29. License not issued in trade name--Exception as to firm or corporation.
No license may be issued in a trade name except to a business entity and upon proof satisfactory to the director that the trade name has been lawfully registered.
Source:
SL 1966, ch 111, ch 9, §10 (3); SL 2001, ch 286, §166.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 30 - Insurance Producers › Section 58-30-31 - Firms and corporations--Business within scope of agreement or articles of incorporation.

58-30-31. Firms and corporations--Business within scope of agreement or articles of incorporation.
No firm or corporation shall be so licensed unless the business to be transacted thereunder is within the scope of the partnership agreement or articles of incorporation.
Source:
SL 1966, ch 111, ch 9, §10 (4).
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 30 - Insurance Producers › Section 58-30-33 - Changes in personnel employed by firm--Notice to director.

58-30-33. Changes in personnel employed by firm--Notice to director.
A licensed business entity shall promptly notify the director of all changes.
Source:
SL 1966, ch 111, ch 9, §10 (5); SL 2001, ch 286, §167.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 30 - Insurance Producers › Section 58-30-52 - Exemption from examination requirements.

58-30-52. Exemption from examination requirements.
No examination is required of:
(1)An applicant for the same kind of license as that which the applicant has previously held in this state for at least one year within the five years next preceding the date of application and who is deemed by the director to be fully qualified and competent;
(2)A travel retailer or applicant for a limited line travel insurance license under §§58-30-209 to 58-30-217, inclusive;
(3)Attorneys licensed to practice law in this state;
(4)Insurance producers outside the United States or its territories;
(5)Insurance producers applying for a limited license to sell, solicit, or negotiate limited line credit or limited line insurance exclusively;
(6)Employees of trade associations for the issuance of surety bonds to their association members only;
(7)Travel accident agents of motor service clubs;
(8)A person who applies for an insurance producer license in this state who was previously licensed for the same lines of authority in another state. This exemption is available if the person is currently licensed in that state or if the application is received within ninety days of the cancellation of the applicant's previous license as long as the applicant was in good standing in that state and the state's insurance producer database records, maintained by the National Association of Insurance Commissioners, its affiliates, or its subsidiaries, indicate that the insurance producer is or was licensed in good standing for the line of authority requested;
(9)A person licensed as an insurance producer in another state who moves to this state and makes application within ninety days of establishing legal residence to become a resident licensee pursuant to §§58-30-148 to 58-30-151, inclusive. An examination may be required of that person to obtain any line of authority previously held in the prior state unless the director determines otherwise by rule.
Source:
SL 1966, ch 111, ch 9, §13; SL 1978, ch 365, §9; SL 1987, ch 381, §1; SL 1988, ch 387, §3; SL 2001, ch 286, §168; SL 2014, ch 241, §1.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 30 - Insurance Producers › Section 58-30-54 - Information to applicants as to subjects covered and reference sources.

58-30-54. Information to applicants as to subjects covered and reference sources.
The director shall prepare and make available to applicants for license information as to the general scope of, and principal subjects to be covered by, the examination for a particular license, together with information as to published books and other reference sources which may be studied by the applicant in preparation for the examination; but the director shall not furnish lists of examination questions and answers nor select examination questions from any list thereof furnished applicants.
Source:
SL 1966, ch 111, ch 9, §14 (2).
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 30 - Insurance Producers › Section 58-30-58 - Failure to pass examination--Waiting period for re-examination.

58-30-58. Failure to pass examination--Waiting period for re-examination.
The director may require a reasonable waiting period before reexamination of an applicant who has taken and failed to pass a previous examination covering the same kind or kinds of insurance.
Source:
SL 1966, ch 111, ch 9, §15 (4).
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 30 - Insurance Producers › Section 58-30-68 - Limited lines insurance producer's license--Types of insurance.

58-30-68. Limited lines insurance producer's license--Types of insurance.
The director may issue to an applicant qualified therefor under this title a limited lines insurance producer's license for the following types of insurance:
(1)Credit insurance as defined in §58-30-142;
(2)Crop insurance as defined in §58-30-142;
(3)Rental car insurance as defined in §58-30-198; and
(4)Travel insurance as defined in §§58-30-209 to 58-30-217, inclusive.
Source:
SL 1966, ch 111, ch 9, §18 (1); SL 1987, ch 381, §2; SL 2001, ch 286, §169; SL 2002, ch 240, §3; SL 2010, ch 233, §4; SL 2014, ch 241, §2.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 30 - Insurance Producers › Section 58-30-69 - Examination not required for travel insurance.

58-30-69. Examination not required for travel insurance.
Applicants for limited license as to travel insurance under subdivision 58-30-68(4) are exempt from examination, as provided in §58-30-52, and the fee for each such license, including issuance thereof and the appointment by the insurer, shall be in the amount specified in §58-2-29.
Source:
SL 1966, ch 111, ch 9, §18 (2); SL 2014, ch 241, §3.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 30 - Insurance Producers › Section 58-30-73 - Refusal of temporary license where purpose unlawful.

58-30-73. Refusal of temporary license where purpose unlawful.
The director may refuse to issue a temporary license to any applicant, when it appears that the purpose of obtaining such temporary license is part of a program by an insurer to evade the other provisions of this chapter.
Source:
SL 1966, ch 111, ch 9, §23 (3).
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 30 - Insurance Producers › Section 58-30-74 - Renewal of license or appointment--Fee.

58-30-74. Renewal of license or appointment--Fee.
Each license or appointment issued under this title shall continue in force until expired, suspended, revoked, or otherwise terminated, whichever is applicable, but is subject to renewal by payment to the director annually or biennially of the applicable fee as stated in §58-2-29 upon notice by the director.
Source:
SL 1966, ch 111, ch 9, §19 (1); SL 1978, ch 365, §§16, 17; SL 1995, ch 289, §5; SL 1996, ch 300, §3; SL 2001, ch 286, §170; SL 2004, ch 295, §5; SL 2010, ch 233, §5.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 30 - Insurance Producers › Section 58-30-74.1 - Continuing appointments--Annual renewal fee.

58-30-74.1. Continuing appointments--Annual renewal fee.
Any insurance producer's appointment not terminated prior to April first of each year is subject to an annual renewal fee as stated in §58-2-29. The appointing insurer shall pay the renewal fee.
Source:
SL 1996, ch 300, §4; SL 2001, ch 286, §171.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 30 - Insurance Producers › Section 58-30-74.2 - Renewal of license by business entity.

58-30-74.2. Renewal of license by business entity.
Each business entity licensed under this chapter shall file a biennial license renewal with the director on or before July first or within an extension of time granted by the director for good cause. The renewal application shall be in the form prescribed by the director.
Source:
SL 2018, ch 282, §1.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 30 - Insurance Producers › Section 58-30-74.3 - Lapsing and reinstatement of license.

58-30-74.3. Lapsing and reinstatement of license.
Failure to file a timely renewal application shall result in lapsing of the license. A business entity may reinstate its license in the same manner as an individual insurance producer as provided in §58-30-154.
Source:
SL 2018, ch 282, §2.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 30 - Insurance Producers › Section 58-30-74.4 - Designation of individual licensed insurance producer in business entity renewal application.

58-30-74.4. Designation of individual licensed insurance producer in business entity renewal application.
In the license renewal application, each business entity shall designate an individual licensed insurance producer responsible for the business entity's compliance with the insurance laws of this state.
Source:
SL 2018, ch 282, §3.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 30 - Insurance Producers › Section 58-30-84 - Travel insurance vending machines, approval by director.

58-30-84. Travel insurance vending machines, approval by director.
An insurance producer licensed as to limited lines insurance or limited lines credit insurance may solicit applications for and issue policies of personal travel accident insurance by means of mechanical vending machines and kiosks supervised by the insurance producer and placed at airports, railroad stations, bus stations, and similar places where transportation tickets are sold to the traveling public, if the director finds:
(1)That the policy to be so sold provides reasonable coverage and benefits, is reasonably suited for sale and issuance through vending machines, and that use of such a machine therefor in a particular proposed location would be of material convenience to the public;
(2)That the type of vending machine and kiosk proposed to be used is reasonably suitable and practical for the purpose;
(3)That reasonable means are provided for informing the prospective purchaser of any such policy of the coverage and restrictions of the policy; and
(4)That reasonable means are provided for refund to the applicants of money inserted in defective machines and for which no insurance, or a less amount than paid for, is actually received.
Source:
SL 1966, ch 111, ch 9, §25 (1); SL 2001, ch 286, §172.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 30 - Insurance Producers › Section 58-30-88 - Premiums received by agent as trust funds--Accounting and payment.

58-30-88. Premiums received by agent as trust funds--Accounting and payment.
All premiums or return premiums received by an insurance producer shall be trust funds received by the licensee in a fiduciary capacity, and the insurance producer or soliciting insurance producer shall account for and pay the same to the insured, insurer, or insurance producer entitled thereto.
Source:
SL 1966, ch 111, ch 9, §28 (1); SL 2001, ch 286, §173.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 30 - Insurance Producers › Section 58-30-89 - Misappropriation of funds by agent as theft.

58-30-89. Misappropriation of funds by agent as theft.
Any agent or soliciting agent who, not being lawfully entitled thereto, diverts or appropriates trust funds referred to in §58-30-88 or any portion thereof to his own use shall upon conviction be guilty of theft and shall be punished as provided by law.
Source:
SL 1966, ch 111, ch 9, §28 (2).
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 30 - Insurance Producers › Section 58-30-90 - Deposit of trust funds in separate account--Records and account.

58-30-90. Deposit of trust funds in separate account--Records and account.
If an insurance producer establishes a separate account in which to deposit trust funds in order to avoid a commingling of trust funds with the insurance producer's own funds, the insurance producer may deposit and commingle in such account all such funds but the amount of such funds held for each respective other person must be reasonably ascertainable from the records and accounts of the insurance producer.
Source:
SL 1966, ch 111, ch 9, §28 (1); SL 2001, ch 286, §174.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 30 - Insurance Producers › Section 58-30-91 - Records to be maintained by insurance producer--Violation as misdemeanor.

58-30-91. Records to be maintained by insurance producer--Violation as misdemeanor.
The insurance producer shall keep at the insurance producer's place of business records pertaining to transactions under the insurance producer's license and the licenses of the insurance producer's soliciting insurance producers, for a period of at least five years after completion of such transactions. Such records shall show, as to each policy, the name and address of the insured, the form, number, and term of the policy, the general subject of the insurance, and the general nature of the coverage. Nothing in this section precludes a home, zone, or regional office of the insurer from maintaining such business records in lieu of an insurance producer maintaining the records so long as the insurance producer receives compensation substantially in the form of a salary or produces seventy-five percent or more of his or her insurance business, based on gross premiums written, with one insurer or group of insurers subject to common management or ownership.
Any violation of this section is a Class 2 misdemeanor.
Source:
SL 1966, ch 111, ch 9, §26 (3); SL 1978, ch 359, §2; SL 2001, ch 286, §175; SL 2009, ch 268, §1.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 30 - Insurance Producers › Section 58-30-92 - Companies prohibited from issuing policy in this state except through licensed agent--Violation as misdemeanor.

58-30-92. Companies prohibited from issuing policy in this state except through licensed agent--Violation as misdemeanor.
No authorized insurer may issue or cause to be issued any policy, duplicate policy, or insurance contract covering a subject of insurance that is resident, located or to be performed in this state through any person who is not licensed as an agent under this chapter. Violation of this section is a Class 2 misdemeanor.
Source:
SL 1966, ch 111, ch 9, §32 (1); SL 1978, ch 359, §2; SL 1978, ch 365, §24; SL 1983, ch 378, §1.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 30 - Insurance Producers › Section 58-30-93 - Suspension or revocation of certificate for unauthorized issuance of policies.

58-30-93. Suspension or revocation of certificate for unauthorized issuance of policies.
The director may suspend or revoke the certificate of authority of any insurer violating §58-30-92.
Source:
SL 1966, ch 111, ch 9, §32 (2).
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 30 - Insurance Producers › Section 58-30-95 - Director as attorney for service of process on nonresident insurance producer.

58-30-95. Director as attorney for service of process on nonresident insurance producer.
Each licensed nonresident insurance producer shall appoint the director as the insurance producer's attorney to receive service of legal process issued against the agent in this state upon causes of action arising within this state out of transactions under the license.
Source:
SL 1966, ch 111, ch 9, §31 (1); SL 1978, ch 365, §24; SL 2001, ch 286, §176.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 30 - Insurance Producers › Section 58-30-96 - Duration of appointment of director as attorney for service of process.

58-30-96. Duration of appointment of director as attorney for service of process.
The appointment required by §58-30-95 is irrevocable for as long as there could be any cause of action against the insurance producer arising out of the insurance producer's insurance transactions in or with respect to this state.
Source:
SL 1966, ch 111, ch 9, §31 (2); SL 1978, ch 365, §24; SL 2001, ch 286, §177.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 30 - Insurance Producers › Section 58-30-97 - Service on director of process against nonresident insurance producer--Fee.

58-30-97. Service on director of process against nonresident insurance producer--Fee.
Duplicate copies of legal process against the insurance producer shall be served on the director by registered or certified mail. At the time of service the plaintiff shall pay the director the fee set forth in subdivision §58-2-29(12)(c), which is taxable as costs in the action.
Source:
SL 1966, ch 111, ch 9, §31 (3); SL 1978, ch 365, §22; SL 1982, ch 28, §18; SL 2001, ch 286, §178.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 30 - Insurance Producers › Section 58-30-98 - Receipt by director of process against nonresident insurance producer--Copy mailed to defendant.

58-30-98. Receipt by director of process against nonresident insurance producer--Copy mailed to defendant.
Upon receiving such service, the director shall send one of the copies of the process, by registered or certified mail with return receipt requested, to the defendant insurance producer at the insurance producer's last address of record with the director.
Source:
SL 1966, ch 111, ch 9, §31 (4); SL 1978, ch 365, §24; SL 1982, ch 28, §18; SL 2001, ch 286, §179.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 30 - Insurance Producers › Section 58-30-99 - Director's record of process against nonresident insurance producers.

58-30-99. Director's record of process against nonresident insurance producers.
The director shall keep a record of the day when served with all such legal process.
Source:
SL 1966, ch 111, ch 9, §31 (5); SL 2001, ch 286, §180.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 30 - Insurance Producers › Section 58-30-108 - Suspension, revocation, or refusal to renew one license affects all other licenses of licensee.

58-30-108. Suspension, revocation, or refusal to renew one license affects all other licenses of licensee.
Suspension, revocation, or refusal to renew of any one license held by the licensee under this title shall automatically likewise, suspend, revoke, or refuse renewal of all other licenses held by the licensee under this title.
Source:
SL 1966, ch 111, ch 9, §34 (2).
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 30 - Insurance Producers › Section 58-30-110 - Suspension, revocation, or refusal to renew license--Notice by director.

58-30-110. Suspension, revocation, or refusal to renew license--Notice by director.
Upon suspension, revocation, or refusal to renew any license, the director shall notify the licensee thereof and give like notice to the insurers represented in case of an insurance producer's license.
Source:
SL 1966, ch 111, ch 9, §34 (1); SL 2001, ch 286, §183.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 30 - Insurance Producers › Section 58-30-111 - Waiting period for new license after revocation.

58-30-111. Waiting period for new license after revocation.
The director may not again issue a license under this title to any person whose license has been revoked, until after expiration of one year from the date of such revocation or if judicial review of such revocation is sought, then within one year from the date of final court order or decree affirming the revocation. If the former licensee again files application for a license under this title, the director may require the applicant to show good cause why the prior revocation should not be a bar to the issuance of a new license.
Source:
SL 1966, ch 111, ch 9, §34 (4); SL 2002, ch 240, §4.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 30 - Insurance Producers › Section 58-30-112 - Licenses are property of South Dakota--Delivery to director on termination.

58-30-112. Licenses are property of South Dakota--Delivery to director on termination.
All licenses, although issued and delivered as to the licensee insurance producer or surplus lines broker, shall, at all times, be the property of the State of South Dakota. Upon any expiration, termination, suspension, or revocation of the license, the licensee or other person having possession or custody of the license shall forthwith deliver it to the director either by personal delivery or by mail.
Source:
SL 1966, ch 111, ch 9, §35 (1); SL 2001, ch 286, §184.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 30 - Insurance Producers › Section 58-30-113 - Affidavit as to lost, stolen, or destroyed license.

58-30-113. Affidavit as to lost, stolen, or destroyed license.
As to any license lost, stolen, or destroyed while in the possession of any such licensee, the director may accept in lieu of return of the license the affidavits of the licensee or other person responsible for or involved in the safekeeping of such license, concerning the facts of such loss, theft, or destruction.
Source:
SL 1966, ch 111, ch 9, §35 (2).
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 30 - Insurance Producers › Section 58-30-114 - Continuing education requirements--Definitions.

58-30-114. Continuing education requirements--Definitions.
Terms, as used in §§58-30-114 to 58-30-121, inclusive, mean:
(1)"Director," the director of the Division of Insurance;
(2)"Instructor," any individual who teaches, lectures, or otherwise instructs an insurance education offering;
(3)"Licensee," any individual who is licensed by the Division of Insurance as a resident insurance producer; and
(4)"Sponsor," any person, offering or providing insurance education or related activity.
Source:
SL 1984, ch 331, §1; SL 1989, ch 438, §1; SL 1990, ch 406, §1; SL 1994, ch 411, (Ex. Ord. 94-3), §17; SL 1999, ch 258, §1; SL 2001, ch 286, §185; SL 2010, ch 233, §7.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 30 - Insurance Producers › Section 58-30-115 - Continuing education requirements--Exceptions.

58-30-115. Resident insurance producers--Continuing education requirements--Exceptions.
The provisions of §§58-30-114 to 58-30-121, inclusive, do not apply to the following persons:
(1)Licensees for whom an examination is not required under the laws of this state. However, persons who are excused from the examination under subdivision 58-30-52(1) may not be exempt;
(2)Licensees over age sixty-five, if they have been licensed with the Division of Insurance for a period of at least ten years, and do not sell, solicit, or negotiate insurance; and
(3)Licensees holding limited or restricted licenses, as the director of the Division of Insurance may determine except as provided by subdivision 58-30-116(2).
Source:
SL 1984, ch 331, §2; SL 2006, ch 262, §1; SL 2010, ch 233, §8; SL 2012, ch 249, §1.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 30 - Insurance Producers › Section 58-30-115.1 - Renewal of license by persons over age sixty-five.

58-30-115.1. Renewal of license by persons over age sixty-five.
Any licensee meeting the exception under subdivision 58-30-115(2) shall renew his or her license pursuant to §58-30-121. Nothing in that subdivision requires a licensee who has reached the age of sixty-five prior to July 1, 2006, and, as of July 1, 2006, has been licensed for at least ten years, to meet the continuing education requirements of this chapter.
Source:
SL 2006, ch 262, §2; SL 2015, ch 260, §8.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 30 - Insurance Producers › Section 58-30-115.2 - Renewal of limited or restricted licenses.

58-30-115.2. Renewal of limited or restricted licenses.
Any licensee meeting the exception pursuant to subdivision 58-30-115(3) shall renew the license pursuant to §58-30-121.
Source:
SL 2009, ch 269, §1; SL 2015, ch 260, §9.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 30 - Insurance Producers › Section 58-30-116 - Continuing education requirements--Minimum requirements--Furnishing evidence of completion.

58-30-116. Minimum continuing education requirements--Furnishing evidence of completion.
Biennially, beginning April 1, 2012, on the last day of the licensee's birth month, the licensee shall furnish evidence to the director of the Division of Insurance that the licensee has satisfactorily completed the following continuing education requirements:
(1)Any licensee who holds a property casualty life, accident/health, or variable contract qualification shall obtain a minimum of ten continuing education credit hours in courses certified for each such classification. However, no more than twenty hours of continuing education may be required of any licensee holding multiple insurance producer licenses; and
(2)Any licensee who holds only a crop hail qualification shall obtain a minimum of four credit hours certified for that line.
Source:
SL 1984, ch 331, §3; SL 2001, ch 286, §186; SL 2002, ch 240, §5; SL 2010, ch 233, §9.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 30 - Insurance Producers › Section 58-30-117 - Continuing education requirements--Rules.

58-30-117. Continuing education rules.
The director of the Division of Insurance, may promulgate, pursuant to chapter 1-26, rules as are necessary for effective administration of continuing education for insurance producers. The rules may include provisions concerning continuing education requirements, exemptions, programs, courses, sponsors, definitions, extensions, fees and funding, instructors, applications, advertising, and administration.
Source:
SL 1984, ch 331, §4; SL 1986, ch 22, §38; SL 1990, ch 406, §4; SL 1994, ch 411, (Ex. Ord. 94-3), §17; SL 2001, ch 286, §187.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 30 - Insurance Producers › Section 58-30-118 - Continuing education requirements--Approval of programs--Certification of hours.

58-30-118. Continuing education activities--Approval by director--Hours certified by director.
The director of the Division of Insurance shall certify as approved continuing education activities those courses, lectures, seminars, or other instructional programs, including insurance company education programs, which he determines are beneficial in improving the product knowledge or service capability of licensees. The director may require descriptive information about any continuing education activity and refuse approval of any continuing education activity that does not advance the purposes of §§58-30-114 to 58-30-121, inclusive. The director shall certify the number of hours to be awarded for participation in an approved continuing education activity based upon contact or classroom hours. The director shall certify the number of hours to be awarded for successful completion of a correspondence course or program of independent study, based upon the number of hours which would be awarded in an equivalent classroom course or program.
Source:
SL 1984, ch 331, §5.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 30 - Insurance Producers › Section 58-30-119 - Continuing education requirements--Extension of time.

58-30-119. Extension of time for completing continuing education requirements.
For good cause shown, the director of the Division of Insurance may grant an extension of time during which the requirements imposed by §§58-30-114 to 58-30-121, inclusive, may be completed, but such extension of time may not exceed one year.
Source:
SL 1984, ch 331, §6.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 30 - Insurance Producers › Section 58-30-120 - Continuing education requirements--Prerequisite for license issuance or renewal--Exemptions.

58-30-120. Continuing education prerequisite for license issuance or renewal--Exemptions.
The director of the Division of Insurance may not renew a license or issue a new license in those lines for which the licensee has failed to comply with the requirements set forth in §§58-30-114 to 58-30-121, inclusive. However, the licensee is exempt from the examination requirement pursuant to subdivision 58-30-52(1). If the licensee is not exempt from the examination requirement pursuant to subdivision 58-30-52(1), the director may renew or issue a new license without the licensee complying with §§58-30-114 to 58-30-121, inclusive, if he meets all statutory requirements for licensing, including examination.
Source:
SL 1984, ch 331, §7; SL 1989, ch 438, §2.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 30 - Insurance Producers › Section 58-30-121 - Continuing education requirements--Additional fee for renewal of license.

58-30-121. Additional fee for renewal of license.
The Division of Insurance shall charge each licensee an additional fee of twenty dollars upon renewal of the license. Beginning April 1, 2012, the fee as defined in §58-2-29 is due on the last day of the licensee's birth month and for each succeeding twenty-four month period. The fee shall be deposited in a separate account, entitled the South Dakota insurance producer's continuing education fund, as funding for the administration of the continuing education program. The director may withhold or not renew the license of any licensee who fails to tender timely payment of the fee.
Source:
SL 1984, ch 331, §8; SL 2001, ch 286, §188; SL 2002, ch 229, §2; SL 2007, ch 291, §2; SL 2010, ch 233, §10.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 30 - Insurance Producers › Section 58-30-122 - Conduct of sponsors and instructors--Approval or disapproval by director--Rules.

58-30-122. Conduct of sponsors and instructors--Approval or disapproval by director--Rules.
The director may approve or disapprove sponsors or instructors. Each sponsor is responsible for the actions of the sponsor's instructors. Sponsors and instructors shall conduct themselves in a professional manner and may not offer or teach any course not approved by the director or not complying with any insurance statute or rule, may not deviate from approved course outlines, and may not misrepresent any course material or other information. The director may promulgate rules, pursuant to chapter 1-26, establishing the necessary criteria for disapproval of a sponsor or instructor.
Source:
SL 1990, ch 406, §2.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 30 - Insurance Producers › Section 58-30-123 - Director's action upon violation or nonconformity by sponsor or instructor.

58-30-123. Director's action upon violation or nonconformity by sponsor or instructor.
If the director determines that a course sponsor or instructor has violated the provisions of §58-30-117 or 58-30-122, the director may withdraw approval of the course sponsor or instructor or may order a refund of course fees to licensees who attended the course, or both. The director may also refuse to approve courses conducted by specific sponsors or instructors if the director determines that past offerings by those sponsors or instructors have not been in compliance with insurance continuing education laws and rules.
Source:
SL 1990, ch 406, §3.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 30 - Insurance Producers › Section 58-30-124 - Definition of terms.

58-30-124. Definition of terms.
Terms as used in §§58-30-124 to 58-30-139, inclusive, mean:
(1)"Actuary," any person who is a member in good standing of the American Academy of Actuaries;
(2)"Managing general agent," any person:
(a)Who manages all or part of the insurance business of an insurer, including the management of a separate division, department, or underwriting office; and
(b)Acts as an agent for the insurer or who, with or without the authority, either separately or together with affiliates, produces, directly or indirectly, and underwrites an amount of gross written premium of five percent or more of the policyholder surplus as reported in the last annual statement of the insurer in any one quarter or year and either:
(i)Adjusts or pays claims; or
(ii)Negotiates reinsurance on behalf of the insurer;
(3)"Underwrite," the authority to accept or reject risk on behalf of the insurer.
Source:
SL 1992, ch 353, §1.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 30 - Insurance Producers › Section 58-30-125 - Persons not managing general agents.

58-30-125. Persons not managing general agents.
The following persons are not managing general agents for the purposes of §§58-30-124 to 58-30-139, inclusive:
(1)Any employee of the insurer;
(2)Any United States manager of the United States branch of an alien insurer;
(3)Any underwriting manager who, pursuant to contract, manages all the insurance operations of the insurer, is under common control with the insurer, subject to the holding company regulatory act, and whose compensation is not based on the volume of premiums written; or
(4)Any attorney-in-fact authorized by and acting for the subscribers of a reciprocal insurer or interinsurance exchange under powers of attorney.
Source:
SL 1992, ch 353, §2.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 30 - Insurance Producers › Section 58-30-126 - License required--Bond or errors and omissions policy.

58-30-126. License required--Bond or errors and omissions policy.
No person may act in the capacity of a managing general agent with respect to risks located in this state for an insurer licensed in this state unless the person is a licensed insurance producer in this state. No person may act in the capacity of a managing general agent representing an insurer domiciled in this state with respect to risks located outside this state unless the person is licensed as an insurance producer in this state. The license may be a nonresident license.
The director may require the managing general agent to obtain a bond or an errors and omissions policy in an amount acceptable to the director for the protection of the insurer.
Source:
SL 1992, ch 353, §3; SL 2001, ch 286, §189.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 30 - Insurance Producers › Section 58-30-127 - Written contract between managing general agent and insurer.

58-30-127. Written contract between managing general agent and insurer.
No managing general agent may place business with an insurer unless there is in force a written contract between the parties which sets forth the responsibilities of each party and specifies the division of common or shared responsibilities. The contract shall contain the following minimum provisions:
(1)The insurer may terminate the contract for cause upon written notice to the managing general agent. The insurer may suspend the underwriting authority of the managing general agent during the pendency of any dispute regarding the cause for termination;
(2)The managing general agent shall render accounts to the insurer detailing all transactions and remit all funds due under the contract to the insurer on not less than a monthly basis;
(3)All funds collected for the account of an insurer shall be held by the managing general agent in an escrow account in a bank which is a qualified United States financial institution as defined in §58-30-139. This account shall be used for all payments on behalf of the insurer. The managing general agent may retain no more than three months estimated claims payments and allocated loss adjustment expenses;
(4)Separate records of business written by the managing general agent shall be maintained. The insurer shall have access and right to copy all accounts and records related to its business in a form usable by the insurer and the director shall have access to all books, bank accounts, and records of the managing general agent in a form usable to the director. Records shall be retained for five years;
(5)The contract may not be assigned in whole or part by the managing general agent;
(6)Appropriate underwriting guidelines including:
(a)The maximum annual premium volume;
(b)The basis of the rates to be charged;
(c)The types of risks which may be written;
(d)Maximum limits of liability;
(e)Applicable exclusions;
(f)Territorial limitations;
(g)Policy cancellation provisions; and
(h)The maximum policy period; and
(7)Timely transmission of electronic claims files.
The insurer may cancel or nonrenew any policy of insurance subject to the applicable laws and regulations concerning the cancellation and nonrenewal of insurance policies.
Source:
SL 1992, ch 353, §4; SL 2002, ch 241, §1.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 30 - Insurance Producers › Section 58-30-128 - Settling claims--Content of contract.

58-30-128. Settling claims--Content of contract.
If the managing general agent may settle claims on behalf of the insurer, the following shall be included in the contract:
(1)All claims shall be reported to the company in a timely manner;
(2)A copy of the claim file shall be sent to the insurer at its request or as soon as it becomes known that the claim:
(a)Involves a coverage dispute;
(b)May exceed the managing general agent's claims settlement authority;
(c)Is open for more than six months; or
(d)Is closed by payment of an amount set by the company;
(3)All claim files are the joint property of the insurer and managing general agent. Upon an order of liquidation of the insurer, the files shall become the sole property of the insurer or its estate and the managing general agent shall have reasonable access to and the right to copy the files on a timely basis;
(4)Any settlement authority granted to the managing general agent may be terminated for cause upon the insurer's written notice to the managing general agent or upon the termination of the contract. The insurer may suspend the settlement authority during the pendency of any dispute regarding the cause for termination;
(5)The claims settlement authority and limitations of the managing general agent.
The director may initially and at least annually review the amount for settling claims or payment of claims and direct the amount be changed.
Source:
SL 1992, ch 353, §5.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 30 - Insurance Producers › Section 58-30-129 - Sharing interim profits.

58-30-129. Sharing interim profits.
If the contract provides for a sharing of interim profits by the managing general agent, and the managing general agent may determine the amount of the interim profits by establishing loss reserves or controlling claim payments, or in any other manner, interim profits may not be paid to the managing general agent until one year after they are earned on property insurance business and five years after they are earned on casualty business and not until the profits have been verified pursuant to §58-30-131.
Source:
SL 1992, ch 353, §6.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 30 - Insurance Producers › Section 58-30-130 - Restrictions on managing general agents.

58-30-130. Restrictions on managing general agents.
A managing general agent may not:
(1)Bind reinsurance or retrocessions on behalf of the insurer, except that the managing general agent may bind facultative reinsurance contracts pursuant to obligatory facultative agreements if the contract with the insurer contains reinsurance underwriting guidelines including, for both reinsurance assumed and ceded, a list of reinsurers with which automatic agreements are in effect, the coverages and amounts or percentages that may be reinsured and commission schedules;
(2)Commit the insurer to participate in insurance or reinsurance syndicates;
(3)Appoint any insurance producer without assuring that the insurance producer is lawfully licensed to transact the type of insurance for which the insurance producer is appointed;
(4)Without prior approval of the insurer, pay or commit the insurer to pay a claim over a specified amount, net of reinsurance, which may not exceed one percent of the insurer's policyholder's surplus as of December thirty-first of the last completed calendar year;
(5)Collect any payment from a reinsurer or commit the insurer to any claim settlement with a reinsurer, without prior approval of the insurer. If prior approval is given, a report shall be promptly forwarded to the insurer;
(6)Permit its subagent to serve on the insurer's board of directors;
(7)Jointly employ an individual who is employed with the insurer; or
(8)Appoint a submanaging general agent.
Source:
SL 1992, ch 353, §7; SL 2001, ch 286, §190.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 30 - Insurance Producers › Section 58-30-131 - Duties of insurer working with managing general agent.

58-30-131. Duties of insurer working with managing general agent.
The insurer has the following duties:
(1)The insurer shall review and have on file an annual independent financial examination done by a person acceptable to the director, of each managing general agent with which it has done business;
(2)If a managing general agent establishes loss reserves, the insurer shall annually obtain the opinion of an actuary attesting to the adequacy of loss reserves established for losses incurred and outstanding on business produced by the managing general agent. This is in addition to any other required loss reserve certification;
(3)The insurer shall at least semiannually conduct an on-site review of the underwriting and claims processing operations of the managing general agent;
(4)Binding authority for all reinsurance contracts or participation in insurance or reinsurance syndicates shall rest with an officer of the insurer, who may not be affiliated with the managing general agent;
(5)Within thirty days of entering into or termination of a contract with a managing general agent, the insurer shall provide written notification of the appointment or termination to the director. Notices of appointment of a managing general agent shall include a statement of duties which the applicant is expected to perform on behalf of the insurer, the lines of insurance for which the applicant is to be authorized to act, and any other information the director may request;
(6)An insurer shall review its books and records each quarter to determine if any insurance producer is a managing general agent as defined in §58-30-124. If the insurer determines that an insurance producer has become a managing general agent, the insurer shall promptly notify the insurance producer and the director within thirty days of the determination. The insurer and an insurance producer shall fully comply with the provisions of §§58-30-124 to 58-30-139, inclusive, within thirty days of notification to the director; and
(7)An insurer may not appoint to its board of directors an officer, director, employee, insurance producer, or controlling shareholder of its managing general agents. This subdivision does not apply to relationships governed by chapters 58-5A and 58-44.
Source:
SL 1992, ch 353, §8; SL 2001, ch 286, §191.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 30 - Insurance Producers › Section 58-30-132 - Acts of managing general agent--Examination by director--Costs.

58-30-132. Acts of managing general agent--Examination by director--Costs.
The acts of the managing general agent are considered to be the acts of the insurer on whose behalf it is acting. A managing general agent is subject to examination by the director pursuant to chapter 58-3. Unless otherwise set forth in the contract between the insurer and the managing general agent, the insurer shall pay the costs and expenses of the examination pursuant to §58-3-15.
Source:
SL 1992, ch 353, §9.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 30 - Insurance Producers › Section 58-30-133 - Penalties for violation by managing general agent.

58-30-133. Penalties for violation by managing general agent.
If the director finds after hearing that any person has violated any provision of §§58-30-124 to 58-30-139, inclusive, the director may order one or all of the following:
(1)For each separate violation, a penalty in an amount of not more than twenty-five thousand dollars;
(2)Revocation or suspension of the license or authority; or
(3)The managing general agent to reimburse the insurer, the rehabilitator or liquidator of the insurer for any losses incurred by the insurer caused by a violation of §§58-30-124 to 58-30-139, inclusive, committed by the managing general agent.
Nothing contained in this section affects the right of the director to impose any other penalties provided for in the insurance law.
Source:
SL 1992, ch 353, §10.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 30 - Insurance Producers › Section 58-30-134 - Rights of policyholders, claimants, and auditors.

58-30-134. Rights of policyholders, claimants, and auditors.
Nothing contained in §§58-30-124 to 58-30-139, inclusive, limits or restricts the rights of policyholders, claimants, and auditors.
Source:
SL 1992, ch 353, §11.