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S.D. Codified Laws § 58-14-44

Restrictions on who may act as agent

Source: SL 1994, ch 379, § 4.

No person, firm, association, or corporation may act as an agent:

(1) For a reinsurer domiciled in this state, unless the agent is a licensed producer in this state;

(2) In this state, if the agent maintains an office either directly or as a member or employee of a firm or association, or an officer, director, or employee of a corporation in this state, unless the agent is a licensed producer in this state;

(3) In another state for a nondomestic insurer, unless the agent is a licensed producer in this state or another state having a law substantially similar to this law or the person is licensed in this state as a nonresident reinsurance intermediary.

Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.