58-14-44. Restrictions on who may act as agent.No person, firm, association, or corporation may act as an agent:(1)For a reinsurer domiciled in this state, unless the agent is a licensed producer in this state;(2)In this state, if the agent maintains an office either directly or as a member or employee of a firm or association, or an officer, director, or employee of a corporation in this state, unless the agent is a licensed producer in this state;(3)In another state for a nondomestic insurer, unless the agent is a licensed producer in this state or another state having a law substantially similar to this law or the person is licensed in this state as a nonresident reinsurance intermediary. Source: SL 1994, ch 379, §4.
South Dakota Legal Code