South Dakota Codified Laws 58-30-133. Penalties for violation by managing general agent
If the director finds after hearing that any person has violated any provision of §§ 58-30-124 to 58-30-139, inclusive, the director may order one or all of the following:
(1) For each separate violation, a penalty in an amount of not more than twenty–five thousand dollars;
Terms Used In South Dakota Codified Laws 58-30-133
- Person: includes natural persons, partnerships, associations, cooperative corporations, limited liability companies, and corporations. See South Dakota Codified Laws 2-14-2
(2) Revocation or suspension of the license or authority; or
(3) The managing general agent to reimburse the insurer, the rehabilitator or liquidator of the insurer for any losses incurred by the insurer caused by a violation of §§ 58-30-124 to 58-30-139, inclusive, committed by the managing general agent.
Nothing contained in this section affects the right of the director to impose any other penalties provided for in the insurance law.
Source: SL 1992, ch 353, § 10.