58-32-11. Suspension or revocation of license of surplus line broker--Grounds.The director may suspend or revoke any surplus line broker's license:(1)If the broker fails to file his annual statement or to remit the tax as required by this chapter; or(2)If the broker fails to keep records, or to allow the director to examine his records as required by this chapter; or(3)If the broker knowingly or negligently places a surplus line coverage in an insurer that is in unsound financial condition in violation of §58-32-25; or(4)For any other cause for which a general lines agent's license may be suspended or revoked. Source: SL 1966, ch 111, ch 11, §13 (1); SL 2001, ch 286, §197.
South Dakota Legal Code