South Dakota Codified Laws 58-43-11. Rejection of accountant or audited financial report–Grounds
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The director may not recognize as an accountant, nor accept any annual audited financial report, prepared in whole or in part by, any natural person who:
(1) Has been convicted of fraud, bribery, a violation of the Racketeer Influenced and Corrupt Organizations Act, 18 U.S.C. §§ 1961-1968, or any dishonest conduct or practices under federal or state law;
Terms Used In South Dakota Codified Laws 58-43-11
- Fraud: Intentional deception resulting in injury to another.
- 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) Has been found to have violated the insurance laws of this state with respect to any previous reports submitted under this chapter; or
(3) Has demonstrated a pattern or practice of failing to detect or disclose material information in previous reports filed under the provisions of this chapter.
Source: SL 1992, ch 357, § 11.