S.D. Admin. R. 20:06:07:18

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

Section 20:06:07:18 - Licensees required to report to director

A person licensed in this state to sell variable contracts shall immediately report the following to the director:

(1) Any suspension or revocation of the licensee's variable contract agent's license or life insurance agent's license in any other state or territory of the United States;

(2) The imposition of any disciplinary sanction, including suspension or expulsion from membership and suspension, revocation, or denial of registration, imposed upon the licensee by any national securities exchange or national securities association or any federal, state, or territorial agency with jurisdiction over securities or variable contracts;

(3) Any judgment or injunction entered against the licensee on the basis of conduct deemed to have involved fraud, deceit, misrepresentation, or violation of any insurance or securities law or regulation.

S.D. Admin. R. 20:06:07:18

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.

General Authority: SDCL 58-28-31.

Law Implemented: SDCL 58-28-31.