58-29D-32. Immediate suspension of license--No notice required.The director may, in his discretion and without advance notice of hearing thereon, immediately suspend the certificate of any administrator if the director finds that one or more of the following circumstances exist:(1)The administrator is insolvent or impaired;(2)A proceeding for receivership, conservatorship, rehabilitation, or other delinquency proceeding regarding the administrator has been commenced in any state;(3)The financial condition or business practices of the administrator otherwise pose an imminent threat to the public health, safety, or welfare of the residents of this state. Source: SL 1992, ch 352, §32.
South Dakota Legal Code