An insurer, the authorized representative of the insurer, or insurance producer that fails to report as required under the provisions of §§ 58-30-141 to 58-30-195, inclusive, or that is found to have reported with actual malice by a court of competent jurisdiction may, after notice and hearing, have its license or certificate of authority suspended or revoked and may be assessed a monetary penalty in accordance with § 58-4-28.1.
S.D. Codified Laws § 58-30-192
Penalties for failure to report
Source: SL 2001, ch 286, § 52.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.