South Dakota § 58-30-133 Penalties for violation by managing general agent.

South Dakota Statutes

§ 58-30-133 — Penalties for violation by managing general agent.

South Dakota § 58-30-133

Title 58INSURANCE

Ch. 58-29FINSURANCE PRODUCERS

This text of South Dakota § 58-30-133 (Penalties for violation by managing general agent.) is published on Counsel Stack Legal Research, covering South Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.D. Codified Laws § 58-30-133 (2026).

Text

If the director finds after hearing that any person has violated any provision of §§ 58-30-124 to 58-30-139 , inclusive, the director may order one or all of the following:

(1)For each separate violation, a penalty in an amount of not more than twenty - five thousand dollars;

(2)Revocation or suspension of the license or authority; or (3) The managing general agent to reimburse the insurer, the rehabilitator or liquidator of the insurer for any losses incurred by the insurer caused by a violation of §§ 58-30-124 to 58-30-139 , inclusive, committed by the managing general agent. Nothing contained in this section affects the right of the director to impose any other penalties provided for in the insurance law.

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If the director finds after hearing that any person has violated any provision of §§ 58-30-124 to 58-30-139 , inclusive, the director may order one or all of the following: (1) For each separate violation, a penalty in an amount of not more than twenty - five thousand dollars; (2) Revocation or suspension of the license or authority; or (3) The managing general agent to reimburse the insurer, the rehabilitator or liquidator of the insurer for any losses incurred by the insurer caused by a violation of §§ 58-30-124 to 58-30-139 , inclusive, committed by the managing general agent. Nothing contained in this section affects the right of the director to impose any other penalties provided for in the insurance law.