South Dakota § 58-5A-62 Violations by officers subject to fine--Determining amount of fine.

South Dakota Statutes

§ 58-5A-62 — Violations by officers subject to fine--Determining amount of fine.

South Dakota § 58-5A-62

Title 58INSURANCE

Ch. 58-4AINSURANCE HOLDING COMPANIES

This text of South Dakota § 58-5A-62 (Violations by officers subject to fine--Determining amount of fine.) 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 § 58-5A-62 (2026).

Text

Every director or officer of an insurance holding company system who knowingly violates, participates in, or assents to, or who knowingly permits any of the officers or agents of the insurer to engage in transactions or make investments which have not been properly reported or submitted pursuant to this chapter shall pay, in their individual capacity, an administrative fine of not more than five thousand dollars per violation. In determining the amount of the fine, the director shall take into account the gravity of the violation, previous violations, and other matters.

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Every director or officer of an insurance holding company system who knowingly violates, participates in, or assents to, or who knowingly permits any of the officers or agents of the insurer to engage in transactions or make investments which have not been properly reported or submitted pursuant to this chapter shall pay, in their individual capacity, an administrative fine of not more than five thousand dollars per violation. In determining the amount of the fine, the director shall take into account the gravity of the violation, previous violations, and other matters.