58-44-9. Consequences of noncompliance with chapter--Civil action by director.
If the director believes that the controlling broker or any other person has not complied with this chapter, or any regulation or order, the director may order the controlling broker to cease placing business with the controlled insurer or any other conduct in violation of this chapter, or both pursuant to §58-4-7. In addition, if it is found that because of noncompliance that the controlled insurer or any policyholder has suffered any loss or damage, the director may maintain a civil action or intervene in an action brought by or on behalf of the insurer or policyholder for recovery of compensatory damages for the benefit of the insurer or policyholder or other appropriate relief.
Source: SL 1992, ch 358, §9.
Structure South Dakota Codified Laws
Chapter 44 - Broker Controlled Property And Casualty Insurance
Section 58-44-1 - Definition of terms.
Section 58-44-2 - Application of chapter to licensed insurers--Application of chapter 58-5A.
Section 58-44-4 - Chapter not applicable under certain circumstances.
Section 58-44-5 - Written contract required--Provisions.
Section 58-44-6 - Audit committee of controlled insurer--Annual meeting.
Section 58-44-7 - Annual report of loss ratios and loss reserves.
Section 58-44-8 - Notice from controlling broker to prospective insured--Subbroker.
Section 58-44-9 - Consequences of noncompliance with chapter--Civil action by director.
Section 58-44-11 - Rights of director to impose penalties.
Section 58-44-12 - Rights of third parties.
Section 58-44-13 - Time limit for compliance.
Section 58-44-14 - Disapproval of contract between controlling broker and controlled insurer.