S.D. Admin. R. 20:06:07:08

Current through Register Vol. 51, page 67, December 16, 2024

Section 20:06:07:08 - Variable contract agent license required prior to solicitation or sale

Before a person may sell a variable contract, the person must meet the following requirements:

(1) Have passed the life insurance examination and be licensed as a life insurance agent under SDCL Title 58;

(2) Have passed either a series 6, series 7, series 63, or series 66 examination given by the Financial Industry Regulatory Authority; and

(3) Have filed a form approved by the director requesting to have variable annuities, variable life, or both, added as lines to the license.

A nonresident agent must also submit an original home state certification which is not more than 90 days old.

S.D. Admin. R. 20:06:07:08

4 SDR 6, effective 8/9/1977; 12 SDR 117, effective 1/19/1986; 12 SDR 151, 12 SDR 155, effective 7/1/1986; 16 SDR 208, effective 6/3/1990; 23 SDR 55, effective 10/20/1996; 24 SDR 67, effective 11/23/1997; 46 SDR 026, effective 9/4/2019

General Authority: SDCL 58-28-31

Law Implemented: SDCL 58-28-31

Policy forms Filing with and approval by the director, SDCL 58-11-11.