S.D. Codified Laws § 58-30-NEW

Current with legislation signed by the governor on or before 3/6/2024

Section 58-30-NEW - [Newly enacted section not yet numbered] [Effective 7/1/2024]

If the director has reasonable evidence that a licensed insurance producer has violated any provision of this title and the licensed producer has also violated subdivision 58-33-66(1) for failing to respond to division inquiries regarding the same, the director may, after sufficient notice, revoke the producer's license by an order of the director without a hearing. An order under this section must include the applicable provisions of § 58-4-16 and chapter 1-26 for final agency decisions and must be accompanied by exhibits demonstrating the alleged violations.

For purposes of this section, the term "sufficient notice" means:

(1) The producer is provided notice of the alleged violations at the producer's last reported mailing address on file with the director; and

(2) The producer is provided a second notice at the producer's last reported mailing address on file with the director stating the producer is in violation of § 58-33-66 and must respond to avoid administrative action by the division.

SDCL 58-30-NEW

Added by S.L. 2024, ch. TBD,s. 1, eff. 7/1/2024.