20:76:05:01.  Minimum limits. A licensee shall carry malpractice or professional liability insurance, with a company with a certificate of authority from the South Dakota Division of Insurance, with limits of no less than $250,000 per occurrence. A licensee shall notify the board of any change of carrier occurring after a license or renewal is granted.

          An applicant shall submit the declarations page issued by the applicant's malpractice insurance carrier with any application for licensure, temporary permit or license renewal.

          Source: 33 SDR 50, effective September 21, 2006; 43 SDR 181, effective July 10, 2017.

          General Authority: SDCL 36-35-21.

          Law Implemented: SDCL 36-35-12, 36-35-21.

          20:76:05:02.  Recordkeeping. A licensee shall maintain records to verify compliance with malpractice insurance requirements. These records must prove the minimum coverage was in effect during the period the licensee held a license. These records must be maintained for at least five years after the date of the issuance of an initial license or renewal of a license.

          Source: 43 SDR 181, effective July 10, 2017.

          General Authority: SDCL 36-35-21.

          Law Implemented: SDCL 36-35-12(4), 36-35-21.