58-43-11. Rejection of accountant or audited financial report--Grounds.
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/sd/title-58/chapter-58-43/58-43-11·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The director may not recognize as an accountant, nor accept any annual audited financial report, prepared in whole or in part by, any natural person who:
(1)Has been convicted of fraud, bribery, a violation of the Racketeer Influenced and Corrupt Organizations Act, 18 U.S.C. §§ 1961-1968, or any dishonest conduct or practices under federal or state law;
(2)Has been found to have violated the insurance laws of this state with respect to any previous reports submitted under this chapter; or
(3)Has demonstrated a pattern or practice of failing to detect or disclose material information in previous reports filed under the provisions of this chapter.