South Dakota Codified Laws 58-32-21. Placement in authorized insurer–Violation as misdemeanor
Current as of: 2023 | Check for updates
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The broker shall place surplus line insurance only in an insurer which meets the requirements of §§ 58-32-22 to 58-32-24, inclusive. Violation of this section is a Class 2 misdemeanor.
Attorney's Note
Under the South Dakota Laws, punishments for crimes depend on the classification. In the case of this section:| Class | Prison | Fine |
|---|---|---|
| Class 2 misdemeanor | up to 30 days | up to $500 |
Terms Used In South Dakota Codified Laws 58-32-21
- Broker: as used in this chapter means a surplus line broker duly licensed as such under this chapter. See South Dakota Codified Laws 58-32-2
Source: SL 1966, ch 111, ch 11, § 6 (2); SL 1978, ch 359, § 2.