South Dakota Codified Laws 58-30-90. Deposit of trust funds in separate account–Records and account
Current as of: 2023 | Check for updates
|
Other versions
If an insurance producer establishes a separate account in which to deposit trust funds in order to avoid a commingling of trust funds with the insurance producer’s own funds, the insurance producer may deposit and commingle in such account all such funds but the amount of such funds held for each respective other person must be reasonably ascertainable from the records and accounts of the insurance producer.
Terms Used In South Dakota Codified Laws 58-30-90
- 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 9, § 28 (1); SL 2001, ch 286, § 174.