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2019 South Dakota Codified Laws
Title 58 - Insurance
Chapter 29D - Regulation Of Life And Health Administrators
§ 58-29D-18 Compensation of administrator.
Universal Citation: SD Codified L § 58-29D-18 (2019)
58-29D-18. Compensation of administrator. An administrator may not enter into any agreement or understanding with an insurer in which the effect is to make the amount of the administrator's commissions, fees, or charges contingent upon savings effected in the adjustment, settlement, and payment of losses covered by the insurer's obligations. This section may not prevent the compensation of an administrator from being based on premiums or charges collected or the number of claims paid or processed. This section does not prohibit an administrator from receiving performance-based compensation for providing hospital and other auditing services.
Source: SL 1992, ch 352, § 18; SL 2013, ch 253, § 1.
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