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2019 South Dakota Codified Laws
Title 58 - Insurance
Chapter 29A - Insurance Guaranty Association
§ 58-29A-91 Suspension or revocation of certificate of authority for failure to pay assessment or comply with plan--Fine as alternative.
Universal Citation: SD Codified L § 58-29A-91 (2019)
58-29A-91. Suspension or revocation of certificate of authority for failure to pay assessment or comply with plan--Fine as alternative. The director may suspend or revoke, after notice and hearing, the certificate of authority to transact insurance in this state of any member insurer that fails to pay an assessment when due or fails to comply with the plan of operation. As an alternative, the director may levy a fine on any member insurer which fails to pay an assessment when due. The fine may not exceed five percent of the unpaid assessment per month, except that no fine may be less than one hundred dollars per month.
Source: SL 2000, ch 247, ยง 38.
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