South Dakota Codified Laws 58-30-125. Persons not managing general agents
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The following persons are not managing general agents for the purposes of §§ 58-30-124 to 58-30-139, inclusive:
(1) Any employee of the insurer;
Terms Used In South Dakota Codified Laws 58-30-125
- Contract: A legal written agreement that becomes binding when signed.
- written: include typewriting and typewritten, printing and printed, except in the case of signatures, and where the words are used by way of contrast to typewriting and printing. See South Dakota Codified Laws 2-14-2
(2) Any United States manager of the United States branch of an alien insurer;
(3) Any underwriting manager who, pursuant to contract, manages all the insurance operations of the insurer, is under common control with the insurer, subject to the holding company regulatory act, and whose compensation is not based on the volume of premiums written; or
(4) Any attorney–in–fact authorized by and acting for the subscribers of a reciprocal insurer or interinsurance exchange under powers of attorney.
Source: SL 1992, ch 353, § 2.