The written contract with the agent, pursuant to § 58-14-29, specifying the responsibilities of each party, shall be approved by the reinsurer's board of directors. At least thirty days before the insurer or reinsurer assumes or cedes business through the agent or broker, the contract in § 58-14-29 shall be filed with the director for approval pursuant to §§ 58-5-85 to 58-5-87, inclusive.
S.D. Codified Laws § 58-14-32
Approval and filing of contract
Source: SL 1992, ch 345, § 9.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.