Title 58 — INSURANCE

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. 58-30-30. Repealed by SL 1981, ch 364 , § 1

58-30-32

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). 58-30-32. Repealed by SL 2001, ch 286 , § 248

58-30-34 58-30-34 , 58-30-35. Repealed by SL 1978, ch 365 , §§ 2, 3 58-30-36 58-30-36 to 58-30-44. Repealed by SL 2001, ch 286 , §§ 249 to 257 58-30-45

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. 58-30-34, 58-30-35. Repealed by SL 1978, ch 365 , §§ 2, 3 58-30-36 to 58-30-44. Repealed by SL 2001, ch 286 , §§ 249 to 257 58-30-45. R…

Repealed by SL 1978, ch 365 , § 5 58-30-46

Repealed by SL 1983, ch 14 , § 21; SL 1983, ch 378 , § 3 58-30-47

Repealed by SL 2001, ch 286 , § 258 58-30-48

Repealed by SL 2001, ch 286 , §§ 259, 260 58-30-50.1

Repealed by SL 1995, ch 289 , § 2 58-30-51

58-30-53

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 an…

58-30-55

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…

Repealed by SL 2001, ch 286 , § 262 58-30-56

Repealed by SL 1981, ch 365 58-30-57

58-30-59

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). 58-30-59. Repealed by SL 2001, ch 286 , § 264 …

Repealed by SL 2001, ch 286 , § 264 58-30-60

The director may deny an appointment or withhold processing an appointment for reasons of protection of the public health, welfare, or safety including the following: (1) The insurance producer to be appointed is not properly licensed; or (2) A notice of hearing from the Division…

Repealed by SL 2001, ch 286 , §§ 265, 266 58-30-63 58-30-63 to 58-30-67. Repealed by SL 1978, ch 365 , §§ 11 to 15 58-30-68 Limited lines insurance producer's license--Types of insurance. 58-30-69 Examination not required for travel insurance. 58-30-70

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 a…

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 §

Repealed by SL 1996, ch 300 , § 1 58-30-8

Repealed by SL 1982, ch 365 , § 14 58-30-71

Repealed by SL 1991, ch 405 , § 1 58-30-71.1

Repealed by SL 2001, ch 286 , § 267 58-30-72

58-30-74 Renewal of license or appointment--Fee. 58-30-74.1 Continuing appointments--Annual renewal fee. 58-30-74.2 Renewal of license by business entity. 58-30-74.3 Lapsing and reinstatement of license. 58-30-74.4 Designation of individual licensed insurance producer in business…

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).

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 § 58-2-2…

Any insurance producer's appointment not terminated prior to April first of each year is subject to an annual renewal fee as stated in §

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:…

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 §

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. 58-30-75 to 58-30-77. Repealed by SL 2001, ch …

Repealed by SL 2001, ch 286 , §§ 271, 272 58-30-81 58-30-81 to 58-30-83. Repealed by SL 1978, ch 365 , §§ 19 to 21 58-30-84 Travel insurance vending machines, approval by director. 58-30-85 58-30-85 to 58-30-87. Repealed by SL 2001, ch 286 , §§ 273 to 275 58-30-88 Premiums receiv…

58-30-8.1 Notice required for termination of agency contract for fire and casualty lines--Extension of coverage on previous policies. 58-30-8.2 Notice requirements inapplicable to exclusive agencies or termination for cause. 58-30-9 Rights of insurance producer following terminat…

No insurance company may terminate the agency contract of an insurance producer writing fire and casualty lines of insurance except upon ninety days' notice in writing given by the company to the insurance producer. The company shall, upon a terminated insurance producer's reques…

The provisions of § 58-30-8.1 do not apply to those agency contracts in which the insurance producer agrees to represent exclusively one company or a group of companies under common management or to the termination of an insurance producer's contract for insolvency, abandonment, …

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 …

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 e…

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 ,…

Following termination of an agency appointment as to property, casualty, or surety insurance, and subject to the terms of any agreement between the insurance producer and the insurer, the insurance producer may continue to service and receive from the insurer commissions or other…

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 f…

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 complet…

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…

The director may suspend or revoke the certificate of authority of any insurer violating §

58-30-96 Duration of appointment of director as attorney for service of process. 58-30-97 Service on director of process against nonresident insurance producer--Fee. 58-30-98 Receipt by director of process against nonresident insurance producer--Copy mailed to defendant. 58-30-99…

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: S…

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 197…

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…