South Dakota Codified Laws
Chapter 33 - Unfair Trade Practices
Section 58-33-91 - Sale of unregistered securities by insurance producer prohibited.

South Dakota Codified Laws

Title 58 - Insurance

Chapter 33 - Unfair Trade Practices

Section 58-33-1 - Purposes of chapter.

Section 58-33-2 - Unfair method or deceptive act as misdemeanor.

Section 58-33-3 - Acts constituting unfair methods of competition and unfair or deceptive practices.

Section 58-33-4 - Use of misleading name as misdemeanor.

Section 58-33-5 - Misrepresentation or false advertising of policies as misdemeanor.

Section 58-33-5.1 - Rules to promote proper disclosure of terms and conditions of life insurance policies.

Section 58-33-6 - False information or advertising as misdemeanor.

Section 58-33-7 - Defamation as misdemeanor.

Section 58-33-8 - Twisting as misdemeanor.

Section 58-33-9 - False entry with intent to deceive--Omission of true entry--Misdemeanor.

Section 58-33-10 - False financial statement as misdemeanor.

Section 58-33-11 - Stock operations and advisory board contracts as inducement--Misdemeanor.

Section 58-33-12 - Unfair discrimination as misdemeanor--Life insurance and annuities.

Section 58-33-12.1 - Blindness as basis for life insurance termination, modification or refusal--Unfair practice.

Section 58-33-13 - Unfair discrimination as misdemeanor--Health insurance.

Section 58-33-13.1 - Sex or marital status discrimination prohibited--Exceptions.

Section 58-33-13.2 - Definition of sex or marital status discrimination terms.

Section 58-33-13.3 - Domestic violence victim discrimination prohibited.

Section 58-33-14 - Rebate as misdemeanor--Life, disability and annuity contracts.

Section 58-33-15 - Insurance not to be used to induce purchases of commodities or services--Misdemeanor.

Section 58-33-16 - Credit life insurance permitted as inducement for purchases.

Section 58-33-17 - Bonus to policyholder from accumulated surplus on life or annuity policy not discrimination or rebate.

Section 58-33-18 - Allowance to industrial policyholder for making payments to office of insurer permitted.

Section 58-33-19 - Readjustment of premium rate permitted for group policy based on loss or expense experience.

Section 58-33-20 - Reduction of premium rate permitted for large policies.

Section 58-33-21 - Reduced rate permitted for life or health insurance policies or annuity contracts on payroll deduction plan.

Section 58-33-22 - Increase in health insurance benefits by maintaining policy in force permitted.

Section 58-33-23 - Life insurance benefits paid to beneficiary--Payment to tradesman or businessman as misdemeanor--Use of life insurance to pay costs of funeral--Fraternal benefit societies.

Section 58-33-24 - Rebate, discount, or special advantage as misdemeanor--Exception.

Section 58-33-25 - Acceptance by insured of rebate, discount or special advantage as misdemeanor.

Section 58-33-26 - Unfair discrimination as to terms and conditions of insurance as misdemeanor.

Section 58-33-27 - Compensation to insurance producers permitted--Allowance or return of dividends, savings, or unabsorbed premium deposits permitted.

Section 58-33-30 - Provisions not applicable to life or health insurance or annuities.

Section 58-33-31 - Favored insurance producer or insurer as misdemeanor.

Section 58-33-32 - Boycott, coercion, or intimidation as misdemeanor.

Section 58-33-33 - Interlocking ownership or management permitted.

Section 58-33-34 - Directorship in two or more insurers permitted.

Section 58-33-35 - Collection of premium for insurance not provided as misdemeanor.

Section 58-33-36 - Illegal dealing in premiums and improper charges as misdemeanors.

Section 58-33-37 - False application as misdemeanor--False claim or proof of loss as misdemeanor or felony.

Section 58-33-37.1 - Aggregation of false claims or applications committed pursuant to one course of conduct.

Section 58-33-38 - Undefined unfair or deceptive practice--Findings by director.

Section 58-33-39 - Action to restrain violation found by director--Record of hearing received in evidence.

Section 58-33-40 - Cease and desist order of director.

Section 58-33-41 - Appeal from director's order.

Section 58-33-42 - Finality of cease and desist order--Appeal by intervener.

Section 58-33-43 - Affirmance of order of director--Order of court for obedience.

Section 58-33-44 - Liabilities and penalties not relieved by director's or court order.

Section 58-33-45 - Violation of desist order as misdemeanor.

Section 58-33-46 - Imposition of penalty not prevented by cease and desist order.

Section 58-33-46.1 - Civil action for damages resulting from unfair or prohibited act--Attorneys' fees.

Section 58-33-47 - Process against unauthorized insurers for false advertising--Purpose of provisions.

Section 58-33-48 - Definition of terms.

Section 58-33-49 - Unlawful advertising by unauthorized insurer as misdemeanor--Notice to insurance supervisory official of domiciliary state.

Section 58-33-50 - Action by director on failure of insurer to cease false advertising after notice.

Section 58-33-51 - Acts constituting appointment of director as process agent.

Section 58-33-52 - Service of process on director, copies delivered--Mailing of copy to defendant.

Section 58-33-53 - Service of process on agent of insurer.

Section 58-33-54 - Additional method of service of process and notice.

Section 58-33-55 - Waiting period before entry of default order or judgment.

Section 58-33-56 - Liberal construction of process provisions.

Section 58-33-57 - Severability of provisions.

Section 58-33-58 - Citation of provisions for process against unauthorized insurers for false advertising.

Section 58-33-59 - Cancellation of insurance--Definitions.

Section 58-33-60 - Notice of cancellation required--Time--Contents.

Section 58-33-61 - Grounds for cancellation.

Section 58-33-62 - Complaint of violation to division--Determination of reasonableness--Hearing.

Section 58-33-63 - Reinstatement and money penalty for violation.

Section 58-33-64 - Immunity from liability for statements concerning cancellation.

Section 58-33-65 - Automobile policies exempt.

Section 58-33-65.1 - Private remedy or right of action prohibited.

Section 58-33-66 - Unfair or deceptive insurance practices.

Section 58-33-67 - Unfair or deceptive practices in dealing with insured.

Section 58-33-68 - Factors considered in determining action taken against violator--Failure to remedy situation--Administrative action.

Section 58-33-69 - No private right of action.

Section 58-33-70 - Definitions--Aftermarket crash parts.

Section 58-33-71 - Use of nonoriginal equipment manufacturer's aftermarket crash parts to repair vehicle--Consumer to be advised in writing--Estimate and disclosure document.

Section 58-33-74 - Gifts for advertising or promotional programs.

Section 58-33-75 - Definitions.

Section 58-33-76 - Notification of suspected fraud.

Section 58-33-77 - Accessibility of information relevant to suspected fraud--Types of information.

Section 58-33-78 - Time limit on information to and from authorized agency.

Section 58-33-79 - Liability of supplier of information.

Section 58-33-80 - Liability of those who supply information or testify as to fraud.

Section 58-33-81 - Notification to policyholder of request for information.

Section 58-33-82 - Confidentiality of information regarding suspected fraud--Testimony by authorized agency personnel.

Section 58-33-83 - Refund of unearned life and health insurance premiums on canceled policy--Exceptions.

Section 58-33-84 - Refund of unearned life and health insurance premiums on canceled policy due to death of insured--Exceptions.

Section 58-33-85 - Health insurers prohibited from denying enrollment of dependent child on certain grounds.

Section 58-33-86 - Prohibitions against a health insurer from using information pertaining to medical assistance eligibility.

Section 58-33-87 - Payments of health insurance benefits for medical assistance recipients.

Section 58-33-88 - Health insurance for dependent child through noncustodial parent's insurer.

Section 58-33-89 - Reporting regulatory activities and complaint handling.

Section 58-33-90 - Sale of securities by unregistered insurance producer prohibited.

Section 58-33-91 - Sale of unregistered securities by insurance producer prohibited.

Section 58-33-92 - Sale of unregistered business opportunity by insurance producer prohibited.

Section 58-33-93 - Definitions relating to multiple employer welfare arrangements.

Section 58-33-94 - Acts constituting transaction of insurance business in or from state.

Section 58-33-95 - Transacting of insurance defined.

Section 58-33-96 - Unauthorized health insurance defined.

Section 58-33-97 - Exclusions from unauthorized health insurance.

Section 58-33-98 - Notification of division required concerning unauthorized health insurance product--Review of division website--Stop loss insurers.

Section 58-33-99 - Circumstances in which licensee should know product is unauthorized health insurance.

Section 58-33-100 - Confidentiality of notifications--Use of information in legal and regulatory actions.

Section 58-33-101 - Disclosure of information to agencies of other states or federal government--Conditions--Immunity from civil liability.

Section 58-33-102 - Due diligence investigation required of insurance producer before offering health benefit plan.

Section 58-33-103 - Due diligence investigation required of insurance producer before submitting stop loss policy application for health benefit plan.

Section 58-33-104 - Due diligence investigation required of third party administrator before entering into any administrative contract for health benefit plan.

Section 58-33-105 - Due diligence investigation required of insurer before issuing stop loss policy for health benefit plan.

Section 58-33-106 - Requirements for engaging in transacting of insurance by issuing stop loss policy.

Section 58-33-107 - Written disclosures required before issuing contract for stop loss policy.

Section 58-33-108 - Due diligence investigation required of preferred provider organization before contracting with offeror or provider of health benefit plan.

Section 58-33-109 - Defenses available to person who acts according to written advice of MEWA contact.

Section 58-33-110 - Circumstances mitigating violation of §§ 58-33-102 to 58-33-108.

Section 58-33-111 - Due diligence not required with respect to unassisted health benefit plan where not engaged in transacting of insurance.

Section 58-33-112 - Documented supervision procedures and controls.

Section 58-33-113 - Continuing education--Summary of supervision procedures and controls.

Section 58-33-114 - Suspension or revocation of registration of preferred provider organization for violation--Other action to assure future compliance.

Section 58-33-115 - Inapplicability to joint powers agreements.

Section 58-33-116 - Inapplicability to arrangements not issued to person in state or solicited in state.

Section 58-33-117 - Definition of terms.

Section 58-33-118 - Solicitation or sale of life insurance or annuity to active duty service member.

Section 58-33-119 - Certain solicitations and sales excluded.

Section 58-33-120 - Education of members of armed forces in accordance with Department of Defense instruction permitted.

Section 58-33-121 - Certain advertisements and marketing exempt--Face-to-face meetings not exempt.

Section 58-33-122 - Life insurance solicitation practices on military installation considered false, misleading, deceptive, or unfair.

Section 58-33-123 - Insurer practices using armed forces personnel or programs considered false, misleading, deceptive, or unfair.

Section 58-33-124 - Additional practices using personnel, services, or programs of the armed forces or depository institutions considered false, misleading, deceptive, or unfair.

Section 58-33-125 - Misleading as to endorsement, sponsorship, or recommendation by armed forces or government agency considered false, misleading, deceptive, or unfair.

Section 58-33-126 - Using the credited interest rate as net return or misrepresenting mortality costs considered false, misleading, deceptive, or unfair.

Section 58-33-127 - Practices regarding Servicemembers' Group Life Insurance or Veterans' Group Life Insurance considered false, misleading, deceptive, or unfair.

Section 58-33-128 - Certain disclosure practices considered false, misleading, deceptive, or unfair.

Section 58-33-129 - Certain additional life insurance sales practices considered false, misleading, deceptive, or unfair.

Section 58-33-130 - Promulgation of rules.

Section 58-33-131 - Employer insurance assistance program defined.

Section 58-33-132 - Construction with statutes regarding rebates, discounts, and special advantages.

Section 58-33-133 - Employer insurance assistance program offerings to be in writing--Certain monetary payments prohibited .

Section 58-33-134 - Promulgation of rules for employer insurance assistance programs.

Section 58-33-135 - Unfair or deceptive practices by pharmacy benefits manager.