South Dakota Codified Laws 58-32-6. Unauthorized acts constituting misdemeanors–Additional forfeiture
Unless performed by a licensed surplus line broker, the following acts are Class 2 misdemeanors if done in this state:
(1) Acting as insurance producer for a nonadmitted insurer in the transaction of insurance business in this state;
Terms Used In South Dakota Codified Laws 58-32-6
- Broker: as used in this chapter means a surplus line broker duly licensed as such under this chapter. See South Dakota Codified Laws 58-32-2
- Insurance business: includes the transaction of all matters pertaining to a contract of insurance, both before and after the effectuation of that contract, and all matters arising out of that contract or any claim thereunder. See South Dakota Codified Laws 58-1-2
- Person: includes natural persons, partnerships, associations, cooperative corporations, limited liability companies, and corporations. See South Dakota Codified Laws 2-14-2
- State: when used in context signifying a jurisdiction other than the State of South Dakota, a state, the District of Columbia, a territory, commonwealth, or possession of the United States of America, or a province of the Dominion of Canada. See South Dakota Codified Laws 58-1-2
(2) In any manner advertising a nonadmitted insurer in this state;
(3) In any other manner aiding a nonadmitted insurer to transact insurance business in this state.
In addition to any penalty provided for commission of misdemeanors, a person violating any provision of this section shall forfeit to this state the sum of five hundred dollars, together with one hundred dollars for each month or fraction thereof during which the person continues such violation.
Source: SL 1966, ch 111, ch 11, § 24; SL 1978, ch 359, § 2; SL 2001, ch 286, § 195.