South Dakota Codified Laws 58-6A-19.1. Purchase from risk retention group not chartered or insurer not admitted in state prohibited–Exception
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A purchasing group may not purchase insurance from a risk retention group that is not chartered in a state or from an insurer not admitted in the state in which the purchasing group is located, unless the purchase is effected through a licensed insurance producer acting pursuant to the surplus lines laws and regulations of such state.
Terms Used In South Dakota Codified Laws 58-6A-19.1
- 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 1988, ch 392, § 9; SL 2001, ch 286, § 92.