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Code · South Dakota · Title 58 · Chapter 58-32

58-32-11. Suspension or revocation of license of surplus line broker--Grounds.

100 words·~1 min read·/sd/title-58/chapter-58-32/58-32-11·

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

The director may suspend or revoke any surplus line broker's license:
(1)If the broker fails to file his annual statement or to remit the tax as required by this chapter; or
(2)If the broker fails to keep records, or to allow the director to examine his records as required by this chapter; or
(3)If the broker knowingly or negligently places a surplus line coverage in an insurer that is in unsound financial condition in violation of § 58-32-25 ; or
(4)For any other cause for which a general lines agent's license may be suspended or revoked.
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