South Dakota Codified Laws 58-22-5. Licenses to individuals only–Examination waived for persons previously acting–Exemptions
No license may be issued except in compliance with this chapter and none may be issued except to an individual. However, any person performing the functions of a bail bondsperson or runner, within the definition of this chapter, on July 1, 1966, is not required to take an examination, but shall be issued a license upon making the application required by this chapter, and renewals shall be granted subject to the provisions of §§ 58-22-6, 58-22-19, and 58-22-21. The provisions of this chapter do not apply to the holder of a valid all lines fire and casualty insurance producer’s license held prior to July 1, 1998.
A firm, partnership, association, or corporation, as such need not be licensed.
Terms Used In South Dakota Codified Laws 58-22-5
- Bail: Security given for the release of a criminal defendant or witness from legal custody (usually in the form of money) to secure his/her appearance on the day and time appointed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Person: includes natural persons, partnerships, associations, cooperative corporations, limited liability companies, and corporations. See South Dakota Codified Laws 2-14-2
Source: SL 1966, ch 111, ch 31, § 5; SL 1998, ch 296, § 3; SL 2001, ch 286, § 131.