South Dakota § 58-33A-26 Corrective action for violations.

South Dakota Statutes

§ 58-33A-26 — Corrective action for violations.

South Dakota § 58-33A-26

Title 58INSURANCE

Ch. 58-32STANDARDS FOR ADVERTISEMENT, SOLICITATION, AND SALE OF LIFE AND HEALTH INSURANCE

This text of South Dakota § 58-33A-26 (Corrective action for violations.) 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 § 58-33A-26 (2026).

Text

An insurer is responsible for compliance with §§ 58-33A-13 to 58-33A-27 , inclusive. If a violation occurs because of the action or inaction of the insurer or its producer, the director may order:

(1)An insurer to take reasonably appropriate corrective action for any consumer harmed by a failure to comply by the insurer, an entity contracted to perform the insurer’s supervisory duties, or by its producer in violation of §§ 58-33A-13 to 58-33A-27 , inclusive;

(2)A producer to take reasonably appropriate corrective action for any consumer harmed by the producer's violation of §§ 58-33A-13 to 58-33A-27 , inclusive; and (3) A general agency or independent agency that employs or contracts with a producer to sell, or solicit the sale, of annuities to consumers, to take reasonably appr

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An insurer is responsible for compliance with §§ 58-33A-13 to 58-33A-27 , inclusive. If a violation occurs because of the action or inaction of the insurer or its producer, the director may order: (1) An insurer to take reasonably appropriate corrective action for any consumer harmed by a failure to comply by the insurer, an entity contracted to perform the insurer’s supervisory duties, or by its producer in violation of §§ 58-33A-13 to 58-33A-27 , inclusive; (2) A producer to take reasonably appropriate corrective action for any consumer harmed by the producer's violation of §§ 58-33A-13 to 58-33A-27 , inclusive; and (3) A general agency or independent agency that employs or contracts with a producer to sell, or solicit the sale, of annuities to consumers, to take reasonably appropriate corrective action for any consumer harmed by the producer's violation of §§ 58-33A-13 to 58-33A-27 , inclusive. Any violation of §§ 58-33A-13 to 58-33A-27 , inclusive subjects the insurer, producer, or general agency or independent agency to suspension, revocation, refusal to renew a license, or to a monetary penalty as provided for under this title. However, the penalty may be reduced or eliminated, if corrective action for the consumer is taken promptly after a violation is discovered or the violation was not part of a pattern or practice.