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Code · South Dakota · Title 58 · Chapter 58-29

58-29B-54. Failure of insurance producer to comply with § 58-29B-53--Penalty--Liquidator's waiver of duties.

79 words·~1 min read·/sd/title-58/chapter-58-29/58-29b-54·

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Any insurance producer failing to give notice or file a report of compliance as required in § 58-29B-53 may be subject to payment of a penalty of not more than one thousand dollars and may have the insurance producer's license suspended, which may only be imposed after a hearing held by the director. The liquidator may waive the duties imposed by § 58-29B-53 if he determines that other notice to the policyholders of the insurer under liquidation is adequate.
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