58-29B-53 --Penalty--Liquidator's waiver of duties. Any insurance producer failing to give notice or file a report of compliance as required in § 58-29B-53 may be subject to payment of a penalty of not more than one thousand dollars and may have the insurance producer's license suspended, which may only be imposed after a hearing held by the director. The liquidator may waive the duties imposed by § 58-29B-53 if he determines that other notice to the policyholders of the insurer under liquidation is adequate.
‹ Prev All South Dakota sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.