A broker is liable for a fine of twenty-five dollars for each day of delinquency commencing with the first day of April if any of the following apply:

(1) The broker fails to remit the tax provided by § 58-32-44 prior to the first day of April;

Terms Used In South Dakota Codified Laws 58-32-46

  • 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
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • 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

(2) The broker fails to file the annual statement, unless a uniform report has been prescribed pursuant to § 58-32-42.1; or

(3) The broker fails to file the uniform report pursuant to § 58-32-42.1.

The tax may be collected by distraint, or the tax and fine may be recovered by an action instituted by the director in any court of competent jurisdiction. Any fine collected by the director shall be paid to the state treasurer and credited to the general fund.

Source: SL 1966, ch 111, ch 11, § 19; SL 2010, ch 242, § 2.

  Previous section
Next section  
 Chapter 32 Contents