Title 58, INSURANCE

An individual insurance producer who allows his or her license to lapse may, within twelve months from the due date of the renewal fee apply to reinstate the same license without the necessity of passing a written examination. A penalty in the amount of double the unpaid renewal …

A licensed insurance producer who is unable to comply with license renewal procedures due to military service or some other extenuating circumstance, such as a long - term medical disability, may request a waiver of those procedures. The producer may also request a waiver of any …

The license shall contain the licensee's name, address, personal identification number, the date of issuance, the lines of authority, the expiration date, and any other information the director determines to be necessary. Source: SL 2001, ch 286 , § 16.

A licensee shall inform the director in a form or format prescribed by the director of a change of address within thirty days of the change. Source: SL 2001, ch 286 , § 17.

In order to assist in the performance of the director's duties, the director may contract with nongovernmental entities, including the National Association of Insurance Commissioners (NAIC) or any affiliates or subsidiaries that the NAIC oversees to perform any ministerial functi…

Unless denied licensure pursuant to § 58-30-167 , a nonresident person is entitled to receive a nonresident insurance producer license if: (1) The person is currently licensed as a resident insurance producer and in good standing in the person's home state; (2) The person has sub…

A licensee as nonresident insurance producer shall at all times be qualified for and hold in the licensee's home state of domicile the license of that home state as a resident insurance producer covering all kinds of insurance covered or to be covered under the South Dakota nonre…

The director may verify the insurance producer's licensing status through databases maintained by the National Association of Insurance Commissioners, its affiliates, or subsidiaries. Source: SL 2001, ch 286 , § 21.

A nonresident insurance producer who moves from one state to another state or a resident insurance producer who moves from this state to another state shall file a change of address and provide certification from the new resident state within thirty days of the change of legal re…

The director shall waive any requirements for a nonresident license applicant with a valid license from the applicant's home state, except for the requirements imposed by § 58-30-159 , if the applicant's home state awards nonresident licenses to residents of this state on the sam…

An insurance producer doing business under any name other than the insurance producer's legal name is required to notify the director prior to using the assumed name. Source: SL 2001, ch 286 , § 24.

The director may issue a temporary insurance producer license for a period not to exceed one hundred eighty days without requiring an examination if the director determines that the temporary license is necessary for the servicing of an insurance business in the following cases: …

The director may by order limit the authority of any temporary licensee in any way determined to be necessary to protect insureds and the public. The director may require the temporary licensee to be under the supervision of a licensed insurance producer or insurer who assumes re…

The director may suspend for not more than twelve months, or may revoke or refuse to continue, any license issued under this chapter, or any license of a surplus lines broker after a hearing. Notice of such hearing and of the charges against the licensee shall be given to the lic…

No insurer may terminate the appointment of a producer based solely on the receipt of a notice of hearing pursuant to § 58-30-167 involving that producer. Source: SL 2006, ch 263 , § 2.

If the director has reasonable evidence that a licensed insurance producer has violated any provision of this title and the licensed producer has also violated subdivision 58-33-66 (1) for failing to respond to division inquiries regarding the same, the director may, after suffic…

An order under § 58-30-167.2 must allow sixty days for the producer to request a hearing in writing. If a timely request for hearing is received, the director shall issue a notice of hearing within thirty days. The office of hearing examiners shall hold the hearing, review the di…

If the director denies an application for a license or does not renew a license, the director shall notify the applicant or licensee and advise, in writing, the applicant or licensee of the reason for the denial or nonrenewal of the applicant's or licensee's license. The applican…

The license of a business entity may be suspended, revoked, refused, or the director may accept a monetary penalty in accordance with § 58-4-28.1 , or any combination thereof, if the director finds, after hearing, that an individual licensee's violation was known or should have b…

The director retains the authority to enforce the provisions of and impose any penalty or remedy authorized by §§ 58-30-141 to 58-30-195 , inclusive, and Title 58 against any person who is under investigation for or charged with any violation of §§ 58-30-141 to 58-30-195 , inclus…

No insurer or insurance producer may pay a commission, service fee, brokerage, or other valuable consideration to a person for selling, soliciting, or negotiating insurance in this state if that person is required to be licensed under §§ 58-30-141 to 58-30-195 , inclusive, and is…

An insurer may by contract prohibit an insurance producer from collecting a fee from an insurance customer for services provided as a consultant. Source: SL 2013, ch 255 , § 3.

No person may accept a commission, service fee, brokerage, or other valuable consideration for selling, soliciting, or negotiating insurance in this state if that person is required to be licensed or appointed under §§ 58-30-141 to 58-30-195 , inclusive, and is not so licensed or…

Renewal or other deferred commissions may be paid to a person for selling, soliciting, or negotiating insurance in this state if the person was required to be licensed under §§ 58-30-141 to 58-30-195 , inclusive, at the time of the sale, solicitation, or negotiation and was so li…

No insurer or insurance producer may pay or assign a commission, service fee, brokerage fee, or any other valuable consideration for a referral to any person not appropriately licensed pursuant to this chapter unless the payment or assignment is a fixed dollar amount that is not …

No insurance producer or business entity may act as an agent of an insurer unless the insurance producer becomes an appointed insurance producer of that insurer. An insurance producer who is not acting as an agent of an insurer is not required to become appointed. This section do…

To appoint an insurance producer or business entity as its agent, the appointing insurer shall file, in a format approved by the director, a notice of appointment within fifteen days from the date the agency contract is executed or the first insurance application is submitted. An…

Upon receipt of the notice of appointment, the director shall verify within a reasonable time, not to exceed thirty days, that the insurance producer is eligible for appointment. If the insurance producer is determined to be ineligible for appointment, the director shall notify t…

An insurer shall pay an appointment fee in the amount as set forth in § 58-2-29 in a manner prescribed by the director for each insurance producer appointed by the insurer. Source: SL 2001, ch 286 , § 38.

An insurer shall remit, in a manner prescribed by the director, a renewal appointment fee in the amount set forth in § 58-2-29 . Source: SL 2001, ch 286 , § 39.

An insurer or authorized representative of the insurer that terminates the appointment, employment, contract, or other insurance business relationship with an insurance producer shall notify the director within thirty days following the effective date of the termination, using a …

The insurer or authorized representative of the insurer shall promptly notify the director in a written or electronic format if, upon further review or investigation, the insurer discovers additional information that would have been reportable to the director in accordance with §…

Within fifteen days after making the notification required by §§ 58-30-180 and 58-30-181 , the insurer shall mail, or if acceptable, send by electronic means, a copy of the notification to the insurance producer at the insurance producer's last known address. If the insurance pro…

Within thirty days after the insurance producer has received the original or additional notification, the insurance producer may file written comments concerning the substance of the notification with the director. The insurance producer shall simultaneously send a copy of the co…

In the absence of actual malice, an insurer, the authorized representative of the insurer, an insurance producer, the director, or an organization of which the director is a member that compiles the information and makes it available to other insurance directors, commissioners, o…

In any action brought against a person that may have immunity under § 58-30-184 for making any statement required by §§ 58-30-180 to 58-30-193 , inclusive, providing any information relating to any statement that may be requested by the director, the party bringing the action sha…

The provisions of §§ 58-30-184 and 58-30-185 do not abrogate or modify any existing statutory or common law privileges or immunities. Source: SL 2001, ch 286 , § 46.

Any documents, materials, or other information in the control or possession of the Division of Insurance that is furnished by the insurer, insurance producer, or an employee or agent thereof acting on behalf of the insurer or insurance producer, or obtained by the director in an …

Neither the director nor any person who received documents, materials, or other information while acting under the authority of the director may testify in any private civil action concerning any confidential documents, materials, or information subject to § 58-30-187 . Source: S…

In order to assist in the performance of the director's duties under §§ 58-30-141 to 58-30-195 , inclusive, the director may: (1) Share documents, materials, or other information, including the confidential and privileged documents, materials, or information subject to § 58-30-18…

No waiver of any applicable privilege or claim of confidentiality in the documents, materials, or information occurs as a result of disclosure to the director under §§ 58-30-180 to 58-30-192 , inclusive, or as a result of sharing as authorized in § 58-30-187 . Source: SL 2001, ch…

Nothing in §§ 58-30-141 to 58-30-195 , inclusive, prohibits the director from releasing final orders, including for cause terminations that are open to public inspection pursuant to Title 58 and chapters 1-26 and 1-27 , to a database or other clearinghouse service maintained by t…

An insurer, the authorized representative of the insurer, or insurance producer that fails to report as required under the provisions of §§ 58-30-141 to 58-30-195 , inclusive, or that is found to have reported with actual malice by a court of competent jurisdiction may, after not…

An insurance producer shall report to the director any administrative action taken against the insurance producer in another jurisdiction or by another governmental agency in this state within thirty days of the final disposition of the matter. This report shall include a copy of…

Within thirty days of the initial pretrial hearing date, an insurance producer shall report to the director any felony criminal prosecution of the insurance producer taken in any jurisdiction. The report shall include a copy of the initial complaint filed, the order resulting fro…

The director may promulgate rules pursuant to chapter 1-26 to provide for: (1) Qualifications for licensure; (2) Exceptions to licensure; (3) Application for licensure; (4) Rights and obligations of licensure; (5) Temporary licenses; (6) Nonresident licensing; (7) Denial, nonrene…