58-2-19. Interests of personnel in insurance transactions prohibited--Misdemeanor.The director or any examiner, assistant, or employee of the division shall not be financially interested, directly or indirectly, in any insurer, insurance agency, or insurance transaction except as a policyholder or claimant under a policy; except, that as to such matters wherein a conflict of interests does not exist on the part of any such individual, the Department of Labor and Regulation may employ or retain from time to time insurance actuaries, attorneys, or other technicians who are independently practicing their professions even though similarly employed or retained by insurers or others. Violation of this section is a Class 2 misdemeanor. Source: SL 1966, ch 111, ch 2, §8; SL 1978, ch 359, §2; SL 2003, ch 272, §20; SL 2011, ch 1 (Ex. Ord. 11-1), §162, eff. Apr. 12, 2011.
South Dakota Legal Code