South Dakota Codified Laws 58-2-29. Fees, licenses, and charges–Collection by director in advance
The director of the Division of Insurance shall collect in advance, and persons so served shall pay to the director in advance, fees, licenses, and miscellaneous charges as follows:
(1) Certificate of authority of insurer:
Terms Used In South Dakota Codified Laws 58-2-29
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
- Property: includes property, real and personal. See South Dakota Codified Laws 2-14-2
- State: when used in context signifying a jurisdiction other than the State of South Dakota, a state, the District of Columbia, a territory, commonwealth, or possession of the United States of America, or a province of the Dominion of Canada. See South Dakota Codified Laws 58-1-2
- written: include typewriting and typewritten, printing and printed, except in the case of signatures, and where the words are used by way of contrast to typewriting and printing. See South Dakota Codified Laws 2-14-2
(a) Application for original certificate of authority:
For filing application for certificate of authority, articles of incorporation, and other charter documents, bylaws, financial statements, examination reports, power of attorney to the director, and all other documents and filings required in connection with such application: ….. $500.00
(b) Issuance of original certificate of authority ….. 25.00
(c) Annual renewal of certificate of authority ….. 25.00
(d) Reinstatement of certificate of authority ….. 25.00
(e) Amendment or reissuance of certificate of authority ….. 25.00
(f) Annual audit ….. 500.00
This fee to be reduced by the total dollar amount of premium taxes remitted in each calendar year. The fee is waived for all licensed insurers remitting five hundred dollars or more in premium taxes in a calendar year.
(2) Filing amendment of articles of incorporation, domestic and foreign insurers, exclusive of fees required to be paid to the secretary of state by a domestic corporation ….. 10.00
(3) Filing bylaws or amendments thereto ….. 5.00
(4) Filing annual statement of insurer, other than as part of application for original certificate of authority ….. 25.00
(5) Insurance producers and solicitors:
(a) Insurance producer’s license, including also disability insurance when written by property, casualty, or surety insurer otherwise represented by the insurance producer:
(i) Filing application for original license, and including issuance of license, if issued ….. 25.00
(ii) Original appointment of insurance producer, each insurer ….. 10.00
(iii) Annual renewal of appointment, each insurer:
Domestic insurer ….. 10.00
Foreign insurer ….. 10.00
(iv) Temporary license ….. 10.00
(b) Insurance producer’s license, life or health insurance, including both life and disability insurance when so licensed as to the same insurer:
(i) Application for original license, including issuance of license, if issued, each insurer ….. 25.00
(ii) Original appointment of insurance producer, each insurer ….. 10.00
(iii) Annual renewal of appointment, each insurer:
Domestic insurer ….. 10.00
Foreign insurer ….. 10.00
(iv) Temporary license ….. 10.00
(c) Limited license as insurance producer:
(i) Motor vehicle physical damage … Same as for insurance producer’s license
(ii) Accident ticket policies, each insurer each year ….. 10.00
(iii) Baggage ticket policies, each insurer each year ….. 10.00
(iv) Credit insurance ….. Same as for insurance producer license
(d) Examination for license, each examination and each time taken ….. 10.00
(e) Nonresident insurance producer license:
(i) Original license ….. 30.00