The acts of the managing general agent are considered to be the acts of the insurer on whose behalf it is acting. A managing general agent is subject to examination by the director pursuant to chapter 58-3. Unless otherwise set forth in the contract between the insurer and the managing general agent, the insurer shall pay the costs and expenses of the examination pursuant to § 58-3-15.
S.D. Codified Laws § 58-30-132
Acts of managing general agent--Examination by director--Costs
Source: SL 1992, ch 353, § 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.