The director shall, upon the corporation‘s application therefor, issue temporary insurance producer’s licenses for a period not exceeding six months for the solicitation of such applications to individuals qualifying for a resident insurance producer license except as to the taking or passing of an examination. The director may suspend or revoke any such license for any of the causes and pursuant to the same procedures as are applicable to suspension or revocation of licenses of insurance producers in general.

Terms Used In South Dakota Codified Laws 58-5-16

  • 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.

Source: SL 1966, ch 111, ch 16, § 11 (4); SL 2001, ch 286, § 69.

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