AN ACT
ENTITLED, An Act to
revise the time at which bond is required of a surplus line broker.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA:
Section 1. That § 58-32-10 be amended to read as follows:
58-32-10. Within thirty days of issuance of a license as a surplus line broker and before procuring any insurance coverage for an insured, the applicant shall file with the director and thereafter for as long as the license remains in effect the licensee shall keep in force a bond in favor of the State of South Dakota in the penal sum of two thousand dollars with an authorized corporate surety approved by the director, conditioned that the licensee will conduct business under the license in accordance with the provisions of this chapter and will promptly remit the taxes provided by § § 58-32-44 and 58-32-45. No such bond may be terminated unless at least thirty days' prior written notice thereof is given to the licensee and filed with the director.
An Act to revise the time at which bond is required of a surplus line broker.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA:
Section 1. That § 58-32-10 be amended to read as follows:
58-32-10. Within thirty days of issuance of a license as a surplus line broker and before procuring any insurance coverage for an insured, the applicant shall file with the director and thereafter for as long as the license remains in effect the licensee shall keep in force a bond in favor of the State of South Dakota in the penal sum of two thousand dollars with an authorized corporate surety approved by the director, conditioned that the licensee will conduct business under the license in accordance with the provisions of this chapter and will promptly remit the taxes provided by § § 58-32-44 and 58-32-45. No such bond may be terminated unless at least thirty days' prior written notice thereof is given to the licensee and filed with the director.
An Act to revise the time at which bond is required of a surplus line broker.
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I certify that the attached Act originated in the
HOUSE as
Bill
No.
1134
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____________________________
Chief Clerk
Chief Clerk
____________________________
Speaker of the House
Speaker of the House
Attest:
____________________________
Chief Clerk
Chief Clerk
____________________________
President of the Senate
Attest:
____________________________
Secretary of the Senate
Secretary of the Senate
House
Bill
No.
1134
File No. ____
Chapter No. ______=========================
Received at this Executive Office this _____ day of _____________ ,
File No. ____
Chapter No. ______
Received at this Executive Office this _____ day of _____________ ,
20____ at ____________ M.
By _________________________
for the Governor
for the Governor
The attached Act is hereby
approved this ________ day of
______________ , A.D., 20___
____________________________
Governor
Governor
STATE OF SOUTH DAKOTA,
ss.
Office of the Secretary of State
Filed ____________ , 20___
at _________ o'clock __ M.
____________________________
Secretary of State
Secretary of State
By _________________________
Asst. Secretary of State
