58-43-11. Rejection of accountant or audited financial report--Grounds.The director may not recognize as an accountant, nor accept any annual audited financial report, prepared in whole or in part by, any natural person who:(1)Has been convicted of fraud, bribery, a violation of the Racketeer Influenced and Corrupt Organizations Act, 18 U.S.C. §§1961-1968, or any dishonest conduct or practices under federal or state law;(2)Has been found to have violated the insurance laws of this state with respect to any previous reports submitted under this chapter; or(3)Has demonstrated a pattern or practice of failing to detect or disclose material information in previous reports filed under the provisions of this chapter. Source: SL 1992, ch 357, §11.
South Dakota Legal Code