Title 58, INSURANCE

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 § 58-30-92 . Source: SL 1966, ch 111 , ch 9, § 32 (2).

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…

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 …

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.