South Dakota Codified Laws 58-11-29. Binders or other contracts for temporary insurance–Terms–Fraudulent statement asmisdemeanor
Current as of: 2023 | Check for updates
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Binders or other contracts for temporary insurance may be made orally or in writing, and shall be deemed to include all the usual terms of the policy as to which the binder was given together with such applicable endorsements as are designated in the binder, except as superseded by the clear and express terms of the binder. Any insurance producer or surplus lines broker who knowingly makes any false or fraudulent material statement on a binder, certificate of insurance, or other document offered as proof of insurance is guilty of a Class 1 misdemeanor for each offense.
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 1 misdemeanor | up to 1 year | up to $2,00 |
Source: SL 1966, ch 111, ch 22, § 24 (1); SL 1990, ch 394; SL 2001, ch 286, § 102.