Insurance producer licensure renewal requirements changed.
ENTITLED, An Act to
revise certain requirements regarding the license renewal of insurance
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA:
be amended to read as follows:
The provisions of §§ 58-30-114 to 58-30-121, inclusive, do not apply to the
Licensees for whom an examination is not required under the laws of this state.
However, persons who are excused from the examination under subdivisions 58-30-
52(1), (2), and (3) may not be exempt;
Persons excepted from licensing requirements as defined in §§ 58-30-5 and 58-30-5.1;
Licensees over age sixty-five,
they have been licensed with the Division of
Insurance for a period of at least ten years
, and do not sell, solicit, or negotiate
Licensees holding limited or restricted licenses, as the director of the Division of
Insurance may determine.
be amended by adding thereto a NEW SECTION to read as
Any licensee meeting the exception under subdivision 58-30-115(3) shall renew his or her
license pursuant to
58-30-121. Nothing in that subdivision requires a licensee who has reached
the age of sixty-five prior to July 1, 2006, and, as of July 1, 2006, has been licensed for at least ten
years, to meet the continuing education requirements of this chapter.
Signed February 6, 2006