The director may refuse to license an agent or broker in reinsurance if the applicant, any one named on the application, or any member, principal, officer or director of the applicant, is not trustworthy; if any controlling person of the applicant is not trustworthy; if there has been a revocation or suspension of a license; or if the applicant has failed to comply with any prerequisite for the issuance of the license. Upon written request by the applicant, the director shall furnish reasons for the basis of the denial.
S.D. Codified Laws § 58-14-28
Refusal to license--Reasons
Source: SL 1992, ch 345, § 5.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.