South Dakota Codified Laws 58-14-31. Insurer or reinsurer to employ only licensed agent or broker
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No insurer or reinsurer may engage the services of any person to act as an agent or broker on its behalf unless the person is licensed as required by §§ 58-14-24 to 58-14-42, inclusive, nor employ an individual who is employed by an agent or broker with which it transacts business, unless an agent or broker is under common control with the insurer and subject to chapter 58-5A.
Terms Used In South Dakota Codified Laws 58-14-31
- Person: includes natural persons, partnerships, associations, cooperative corporations, limited liability companies, and corporations. See South Dakota Codified Laws 2-14-2
Source: SL 1992, ch 345, § 8.