What entities are covered? Information holders are covered. Information holder means “any person or business that conducts business in [South Dakota], and that owns or retains computerized personal or protected
Licensing Requirements: Surplus lines brokers are required to be licensed under South Dakota law. S.D. Codified Laws § 58-32-7. To qualify for a license, a resident applicant must be licensed
Does the state impose a fiduciary obligation on producers with respect to the handling of client funds (e.g. funds, monies, premiums and return premiums)? Yes. Premiums received by an insurance producer
May producers both charge a fee and collect a commission in connection with transactions and services provided to a particular client? Licensed insurance producers may charge a fee in addition
Currently, South Dakota has no state laws or regulations pertaining to Producer’s Compensation Disclosure.
Currently, South Dakota no state laws or regulations pertaining to data security.