58-32-7. Qualifications for surplus line broker's license--Out-of-state sales.Any individual who is licensed in this state as an insurance producer and who is determined by the director to be competent and trustworthy with respect to the handling of surplus lines may be licensed as a surplus line broker. No individual is required to be licensed pursuant to this chapter as a surplus lines broker if the selling, soliciting, or negotiating of surplus lines insurance takes place in an insured's home state and the home state of the insured is a state other than South Dakota. Source: SL 1966, ch 111, ch 11, §12 (1); SL 2001, ch 286, §196; SL 2011, ch 223, §1.
South Dakota Legal Code