South Dakota Codified Laws 58-32-47. Report of independently procured coverages–Violation as misdemeanor
Every insured who in this state procures or causes to be procured or continues or renews insurance in an unauthorized foreign insurer, or any self–insurer who in this state so procures or continues excess loss, catastrophe or other insurance, upon a subject of insurance resident, located or to be performed within this state, other than insurance procured through a surplus line broker subject to §§ 58-32-44 and 58-32-45, shall within thirty days after the date such insurance was so procured, continued or renewed file a written report of the same with the director on forms furnished by the director to the insured, giving the name and address of the insurer, the subject of the insurance, a general description of the coverage, the amount of premium currently charged therefor, and such additional pertinent information as the director reasonably requests. If the insurance covers also a subject of insurance resident, located or to be performed outside this state a proper prorata portion of the entire premium payable for all such insurance shall be allocated to this state for the purposes of § 58-32-50.
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 58-32-47
- 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
- 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
Source: SL 1966, ch 111, ch 11, § 22 (1); SL 1978, ch 359, § 2.