South Dakota Codified Laws 58-2-19. Interests of personnel in insurance transactions prohibited–Misdemeanor
The director or any examiner, assistant, or employee of the division shall not be financially interested, directly or indirectly, in any insurer, insurance agency, or insurance transaction except as a policyholder or claimant under a policy; except, that as to such matters wherein a conflict of interests does not exist on the part of any such individual, the Department of Labor and Regulation may employ or retain from time to time insurance actuaries, attorneys, or other technicians who are independently practicing their professions even though similarly employed or retained by insurers or others. Violation of this section is a Class 2 misdemeanor.
Attorney's Note
Under the South Dakota Laws, punishments for crimes depend on the classification. In the case of this section:| Class | Prison | Fine |
|---|---|---|
| Class 2 misdemeanor | up to 30 days | up to $500 |
Source: SL 1966, ch 111, ch 2, § 8; SL 1978, ch 359, § 2; SL 2003, ch 272, § 20; SL 2011, ch 1 (Ex. Ord. 11-1), § 162, eff. Apr. 12, 2011.