South Dakota § 58-44-4 Chapter not applicable under certain circumstances.

South Dakota Statutes

§ 58-44-4 — Chapter not applicable under certain circumstances.

South Dakota § 58-44-4

Title 58INSURANCE

Ch. 58-44BROKER CONTROLLED PROPERTY AND CASUALTY INSURANCE

This text of South Dakota § 58-44-4 (Chapter not applicable under certain circumstances.) 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 § 58-44-4 (2026).

Text

The provisions of this chapter do not apply if:

(1)The controlling broker:

(a)Places insurance only with the controlled insurer, or only with the controlled insurer and a member or members of the controlled insurer's holding company system, or the controlled insurer's parent, affiliate or subsidiary and receives no compensation based upon the amount of premiums written in connection with the insurance; and (b) Accepts insurance placements only from nonaffiliated brokers, and not directly from insureds; and (2) The controlled insurer, except for insurance business written through a residual market facility, accepts insurance business only from a controlling broker, a broker controlled by the controlled insurer, a broker that is a subsidiary of the controlled insurer. Residual

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The provisions of this chapter do not apply if: (1) The controlling broker: (a) Places insurance only with the controlled insurer, or only with the controlled insurer and a member or members of the controlled insurer's holding company system, or the controlled insurer's parent, affiliate or subsidiary and receives no compensation based upon the amount of premiums written in connection with the insurance; and (b) Accepts insurance placements only from nonaffiliated brokers, and not directly from insureds; and (2) The controlled insurer, except for insurance business written through a residual market facility, accepts insurance business only from a controlling broker, a broker controlled by the controlled insurer, a broker that is a subsidiary of the controlled insurer. Residual market facility includes government insurance programs, risk pools, and assigned risk plans.