South Dakota Codified Laws 58-6A-19.7. Surplus lines producer or excess line producer license required to solicit liability insurance from unauthorized insurer for purchasing group
Current as of: 2023 | Check for updates
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No person, firm, association, or corporation may act or aid in any manner in soliciting, negotiating, or procuring liability insurance from an insurer not authorized to do business in this state on behalf of a purchasing group located in this state unless the person, firm, association, or corporation is licensed as a surplus lines producer or excess line producer in accordance with Title 58.
Terms Used In South Dakota Codified Laws 58-6A-19.7
- 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.
- Person: includes natural persons, partnerships, associations, cooperative corporations, limited liability companies, and corporations. See South Dakota Codified Laws 2-14-2
- 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 1988, ch 392, § 15; SL 2001, ch 286, § 96.