S.D. Codified Laws ch. 58-30 – Insurance Producers | Midpage

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South Dakota Codified Laws

Chapter 58-30

S.D. Codified Laws ch. 58-30

Insurance Producers

58-30-1.1"Excess business" defined.58-30-1.2"Rejected business" defined.58-30-358-30-3, 58-30-4. Repealed by SL 1982, ch 365, §§ 10, 11 58-30-558-30-5, 58-30-5.1. Repealed by SL 2001, ch 286, §§ 228, 229 58-30-6Appointment of insurance producer by insurer--Filing with director--Statement of kinds of insurance to be transacted--Payment of fee--Reasons for denying appointment.58-30-8.1Notice required for termination of agency contract for fire and casualty lines--Extension of coverage on previous policies.58-30-8.2Notice requirements inapplicable to exclusive agencies or termination for cause.58-30-9Rights of insurance producer following termination of appointment.58-30-10Rights of insurance producer after termination of appointment inapplicable to employer and employee relationship.58-30-12.1Excess or rejected life or health insurance or annuity risks--Placement by insurance producer licensed for life or health insurance.58-30-1358-30-13 to 58-30-19. Repealed by SL 2001, ch 286, §§ 231 to 237 58-30-20Licensing provisions inapplicable to title insurance.58-30-2158-30-21 to 58-30-23.5. Repealed by SL 2001, ch 286, §§ 238 to 245 58-30-23.6Criminal files check.58-30-23.7Joint issuance of waivers.58-30-27Licenses to insurance producers of domestic insurer insuring members of armed forces and dependents outside territorial limits.58-30-29License not issued in trade name--Exception as to firm or corporation.58-30-31Firms and corporations--Business within scope of agreement or articles of incorporation.58-30-33Changes in personnel employed by firm--Notice to director.58-30-3458-30-34, 58-30-35. Repealed by SL 1978, ch 365, §§ 2, 3 58-30-3658-30-36 to 58-30-44. Repealed by SL 2001, ch 286, §§ 249 to 257 58-30-4958-30-49, 58-30-50. Repealed by SL 2001, ch 286, §§ 259, 260 58-30-52Exemption from examination requirements.58-30-54Information to applicants as to subjects covered and reference sources.58-30-58Failure to pass examination--Waiting period for re-examination.58-30-6158-30-61, 58-30-62. Repealed by SL 2001, ch 286, §§ 265, 266 58-30-6358-30-63 to 58-30-67. Repealed by SL 1978, ch 365, §§ 11 to 15 58-30-68Limited lines insurance producer's license--Types of insurance.58-30-69Examination not required for travel insurance.58-30-73Refusal of temporary license where purpose unlawful.58-30-74Renewal of license or appointment--Fee.58-30-74.1Continuing appointments--Annual renewal fee.58-30-74.2Renewal of license by business entity.58-30-74.3Lapsing and reinstatement of license.58-30-74.4Designation of individual licensed insurance producer in business entity renewal application.58-30-7558-30-75 to 58-30-77. Repealed by SL 2001, ch 286, §§ 268 to 270 58-30-78Obsolete 58-30-7958-30-79, 58-30-80. Repealed by SL 2001, ch 286, §§ 271, 272 58-30-8158-30-81 to 58-30-83. Repealed by SL 1978, ch 365, §§ 19 to 21 58-30-84Travel insurance vending machines, approval by director.58-30-8558-30-85 to 58-30-87. Repealed by SL 2001, ch 286, §§ 273 to 275 58-30-88Premiums received by agent as trust funds--Accounting and payment.58-30-89Misappropriation of funds by agent as theft.58-30-90Deposit of trust funds in separate account--Records and account.58-30-91Records to be maintained by insurance producer--Violation as misdemeanor.58-30-92Companies prohibited from issuing policy in this state except through licensed agent--Violation as misdemeanor.58-30-93Suspension or revocation of certificate for unauthorized issuance of policies.58-30-95Director as attorney for service of process on nonresident insurance producer.58-30-96Duration of appointment of director as attorney for service of process.58-30-97Service on director of process against nonresident insurance producer--Fee.58-30-98Receipt by director of process against nonresident insurance producer--Copy mailed to defendant.58-30-99Director's record of process against nonresident insurance producers.58-30-10558-30-105 to 58-30-107. Repealed by SL 2001, ch 286, §§ 279 to 281 58-30-108Suspension, revocation, or refusal to renew one license affects all other licenses of licensee.58-30-110Suspension, revocation, or refusal to renew license--Notice by director.58-30-111Waiting period for new license after revocation.58-30-112Licenses are property of South Dakota--Delivery to director on termination.58-30-113Affidavit as to lost, stolen, or destroyed license.58-30-114Continuing education requirements--Definitions.58-30-115Continuing education requirements--Exceptions.58-30-115.1Renewal of license by persons over age sixty-five.58-30-115.2Renewal of limited or restricted licenses.58-30-116Continuing education requirements--Minimum requirements--Furnishing evidence of completion.58-30-117Continuing education requirements--Promulgation of rules.58-30-118Continuing education requirements--Approval of programs--Certification of hours.58-30-119Continuing education requirements--Extension of time.58-30-120Continuing education requirements--Prerequisite for license issuance or renewal--Exemptions.58-30-121Continuing education requirements--Additional fee for renewal of license.58-30-122Continuing education requirements--Provider and instructor--Approval or disapproval by director--Prohibitions--Promulgation of rules.58-30-123Continuing education requirements--Provider and instructor--Violations--Director action.58-30-124Definition of terms.58-30-125Persons not managing general agents.58-30-126License required--Bond or errors and omissions policy.58-30-127Written contract between managing general agent and insurer.58-30-128Settling claims--Content of contract.58-30-129Sharing interim profits.58-30-130Restrictions on managing general agents.58-30-131Duties of insurer working with managing general agent.58-30-132Acts of managing general agent--Examination by director--Costs.58-30-133Penalties for violation by managing general agent.58-30-134Rights of policyholders, claimants, and auditors.58-30-135Rules for implementation and administration of §§ 58-30-124 to 58-30-139.58-30-139"Qualified United States financial institution" defined.58-30-136Utilization of managing general agent after July 1, 1992.58-30-137Filing and approval of contract.58-30-138Application of §§ 58-30-124 to 58-30-139.58-30-140Agents not to obtain loans from clients--Exceptions.58-30-141Application of reciprocity provisions to surplus lines brokers.58-30-142Definitions.58-30-143Sale, solicitation or negotiation limited to licensed line of insurance only.58-30-144License not required under certain circumstances.58-30-144.1License required for acting as consultant.58-30-145Written examination required for resident applicants.58-30-146Arrangements for administration of examinations and collection of fee.58-30-147Payment of examination fees required.58-30-148Resident application for insurance producer license--Requirements for application.58-30-149Application by business entity for insurance producer license--Requirements.58-30-150Verification of application information.58-30-150.1Incomplete application--Deemed withdrawn--Not a refusal or reportable administrative action.58-30-151Program of instruction required for licensed insurance producers--Approval by director.58-30-152Issuance of insurance producer license--Permitted lines of authority.58-30-153Term of insurance producer license.58-30-154Reinstatement of lapsed insurance producer license.58-30-155Waiver of insurance producer license renewal requirements.58-30-156Information contained on insurance producer license.58-30-157Notification of change of address by insurance producer.58-30-158Authority of director to contract with nongovernmental entities for ministerial functions relating to insurance producer licensing.58-30-159Requirements for nonresident insurance producer license.58-30-160Nonresident insurance producer required to hold equivalent license in home state.58-30-161Verification of nonresident's licensing status.58-30-162Change of address required for interstate move.58-30-163Nonresident license applicant--Reciprocity--Exception.58-30-164Notification of use of assumed name by insurance producer.58-30-165Temporary insurance producer license.58-30-166Limits on temporary insurance producer license--Revocation of temporary license.58-30-167Causes for suspension, revocation, refusal to issue or renew license, or monetary penalty--Notice--Hearing--Final determination.58-30-167.1Termination of producer for receipt of hearing notice prohibited.58-30-167.2Revocation of license for failure to respond.58-30-167.3Request for hearing.58-30-168Written reasons for denial or nonrenewal required--Request for hearing--Notice of hearing.58-30-169Unreported knowledge by partners, officers, or managers of violation as grounds for penalty.58-30-170Authority of director to impose penalty or remedy.58-30-171Payment to unlicensed insurance producer prohibited.58-30-171.1Insurer may prohibit consultant fees.58-30-172Acceptance of payment by unlicensed insurance producer prohibited.58-30-173Renewal or deferred commissions approved if license held at time of transaction.58-30-174Payment, assignment, or sharing of commissions and fees--Limitations.58-30-175Requirements for acting as agent of insurer.58-30-176Appointment of insurance producer or business entity as agent of insurer--Submission of notice of appointment.58-30-177Verification of eligibility of insurance producer for appointment as agent of insurer.58-30-178Appointment fee required.58-30-179Renewal appointment fee.58-30-180Termination of relationship between insurer and insurance producer.58-30-181Prompt notification of additional information regarding termination of insurance producer.58-30-182Notification to insurance producer of termination by insurer.58-30-183Submission of written comments by insurance producer regarding termination.58-30-184Liability for information relating to termination.58-30-185Pleadings in action brought against provider of information regarding termination of insurance producer.58-30-186Application of common law to action regarding insurance producer's termination.58-30-187Confidentiality of information gathered in termination investigation.58-30-188Testimony in private civil action prohibited.58-30-189Director's duties in regard to confidential and privileged documents.58-30-190Waiver of privilege or claim of confidentiality.58-30-191Release of final orders allowed.58-30-192Penalties for failure to report.58-30-193Report by insurance producer of any administrative action taken against insurance producer.58-30-194Report by insurance producer of any felony criminal prosecution of insurance producer.58-30-195Promulgation of licensure rules.58-30-196Influencing witness testimony in examination or investigation.58-30-197Rental car insurance--Definition of terms.58-30-198Rental car insurance defined.58-30-199License needed for offering, selling, or soliciting purchase of rental car insurance.58-30-200Licensing of rental car agent for authorized rental car insurer.58-30-201Rental car company as limited lines insurance producer--License requirements.58-30-202Conditions for becoming endorsee authorized to offer, sell, or solicit rental car insurance.58-30-203Training of rental car insurance endorsee.58-30-204Expiration of rental car insurance endorsee license.58-30-205Retention of rental car insurance transaction records.58-30-206Rental car insurance agreement.58-30-207Rental car insurance advertising and compensation restrictions.58-30-208Revocation of rental car company license.58-30-209Definitions regarding travel insurance.58-30-209.1Application of travel insurance laws.58-30-209.2Licensed producers may sell travel insurance--Appointment not required.58-30-209.3Travel administrators.58-30-210Limited lines travel insurance producer license authorized.58-30-211Conditions for offering and disseminating travel insurance under business entity license.58-30-212Statements required in travel retailer's written materials.58-30-212.1Required provisions and disclosures for travel insurance.58-30-213Limitations on travel retailer's unlicensed employee or authorized representative.58-30-214Registered travel retailers authorized to offer and disseminate travel insurance and receive compensation.58-30-215Individual and group travel insurance policies authorized--Services excluded.58-30-215.1Travel protection plans.58-30-215.2Travel insurance rates and policy forms--Eligibility, underwriting, distribution, and marketing.58-30-216Limited lines travel insurance producer responsible for acts of travel retailer.58-30-217Compliance with chapters 58-30 and 58-33--Travel insurance sales practices.58-30-217.1Certain acts not unfair trade practices.58-30-218Promulgation of rules on training for travel retailer employees.