South Dakota Codified Laws 58-32-7. Qualifications for surplus line broker’s license–Out-of-state sales
Current as of: 2023 | Check for updates
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Any individual who is licensed in this state as an insurance producer and who is determined by the director to be competent and trustworthy with respect to the handling of surplus lines may be licensed as a surplus line broker. No individual is required to be licensed pursuant to this chapter as a surplus lines broker if the selling, soliciting, or negotiating of surplus lines insurance takes place in an insured’s home state and the home state of the insured is a state other than South Dakota.
Terms Used In South Dakota Codified Laws 58-32-7
- 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
Source: SL 1966, ch 111, ch 11, § 12 (1); SL 2001, ch 286, § 196; SL 2011, ch 223, § 1.