S.D. Admin. R. 41:02:01:07.01
Any licensing agent who is 45 days past due on any amount owed to the department shall be suspended as a licensing agent and prohibited from selling any license until the amount owed is paid in full. Any licensing agent who is 90 days past due on any amount owed to the department is revoked as a licensing agent and prohibited from selling any license. A revoked licensing agent may not be reappointed as a licensing agent for 12 months after the date on which the amount owed to the department, including interest, is paid in full. Interest on the total amount owed must be calculated at the Category B rate of interest as defined in SDCL 54-3-16 and begins to accrue on the 91st day an account is past due for any amount. A licensing agent who has been revoked for 12 months or more may be reappointed as a licensing agent if the agent purchases a surety bond as required by SDCL 41-6-59 prior to reappointment as a licensing agent. The secretary may not revoke a licensing agent for 12 months if the secretary is satisfied that the licensing agent experienced and can document personal illness, theft, natural disaster, or other circumstances which would excuse the agent's failure to pay any amount owed to the department.
The department may collect the surety bond of any licensing agent who is at least 90 days past due on any amount owed to the department. The department shall apply the proceeds of the bond to payment of any amount owed to the department. No licensing agent against whose surety bond the department has taken action to satisfy payment of any amount owed to the department may be reappointed as a licensing agent.
S.D. Admin. R. 41:02:01:07.01
General Authority: SDCL 41-2-18(8).
Law Implemented: SDCL 41-6-59, 41-6-59.1.