§ 58-30-180 — Termination of relationship between insurer and insurance producer.

South Dakota § 58-30-180

• Jurisdiction: South Dakota
• Title 58: INSURANCE
• Ch. 58-29F: INSURANCE PRODUCERS

Text

An insurer or authorized representative of the insurer that terminates the appointment, employment, contract, or other insurance business relationship with an insurance producer shall notify the director within thirty days following the effective date of the termination, using a format prescribed by the director. In addition, an insurer or authorized representative of the insurer that terminates the appointment, employment, contract, or other insurance business relationship with a producer shall notify the director within thirty days following the effective date of the termination, using a format prescribed by the director, if a reason for termination is one of the reasons set forth in § 58-30-167 or the insurer has knowledge the producer was found by a court, government body, or self-regulatory organization authorized by law to have engaged in any of the activities in § 58-30-167 . Upon the written request of the director, the insurer shall provide additional information, documents, records, or other data pertaining to the termination or activity of the insurance producer. Such information, documents, records, or other data are confidential pursuant to § 58-30-187 .

Legislative History

SL 2001, ch 286, § 40; SL 2007, ch 291, § 3; SL 2010, ch 233, § 14.