<html> <head> <title>Rule 41:02:01:07.01 Suspension and revocation of licensing agents with past due accounts.</title> <META NAME="Keywords" Content="Administrative Rules 41:02:01:07.01"> <META NAME="Description" Content="Administrative Rules 41:02:01:07.01 Suspension and revocation of licensing agents with past due accounts."> <meta http-equiv=Content-Type content="text/html; charset=windows-1252"> <meta name=Generator content="Microsoft Word 15 (filtered)"> <style> <!-- /* Font Definitions */ @font-face {font-family:"Cambria Math"; panose-1:2 4 5 3 5 4 6 3 2 4;} @font-face {font-family:Calibri; panose-1:2 15 5 2 2 2 4 3 2 4;} @font-face {font-family:Times; panose-1:2 2 6 3 5 4 5 2 3 4;} /* Style Definitions */ p.MsoNormal, li.MsoNormal, div.MsoNormal {margin:0in; margin-bottom:.0001pt; font-size:10.0pt; font-family:"Times",serif;} a:link, span.MsoHyperlink {color:blue; text-decoration:underline;} a:visited, span.MsoHyperlinkFollowed {color:purple; text-decoration:underline;} .MsoChpDefault {font-size:10.0pt; font-family:"Calibri",sans-serif;} @page WordSection1 {size:8.5in 11.0in; margin:1.0in 1.0in 1.0in 1.0in;} div.WordSection1 {page:WordSection1;} --> </style> </head> <body lang=EN-US link=blue vlink=purple> <div class=WordSection1> <p class=MsoNormal style='text-align:justify'><span style='font-size:12.0pt; font-family:"Times New Roman",serif'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>41:02:01:07.01.&nbsp;&nbsp;</b></span><b><span style='font-size:12.0pt;font-family:"Times New Roman",serif'>Suspension and revocation of</span></b><b><span style='font-size:12.0pt;font-family:"Times New Roman",serif'> licensing agents with past due accounts.</span></b><span style='font-size:12.0pt; font-family:"Times New Roman",serif'> Any licensing agent who is 45 days past due on any amount owed to the department shall be </span><span style='font-size:12.0pt;font-family:"Times New Roman",serif'>suspended</span><span style='font-size:12.0pt;font-family:"Times New Roman",serif'> as a licensing agent and prohibited from selling any license until the amount owed is paid in full. Any licensing agent who is 90 days past due on any amount owed to the department </span><span style='font-size:12.0pt;font-family:"Times New Roman",serif'>is revoked</span><span style='font-size:12.0pt;font-family:"Times New Roman",serif'> as a licensing agent and prohibited from selling any license. A </span><span style='font-size:12.0pt;font-family:"Times New Roman",serif'>revok</span><span style='font-size:12.0pt;font-family:"Times New Roman",serif'>ed licensing agent may not be reappointed as a licensing agent for 12 months after the date </span><span style='font-size:12.0pt;font-family:"Times New Roman",serif'>o</span><span style='font-size:12.0pt;font-family:"Times New Roman",serif'>n which the amount owed to the department, including interest, is paid in full. Interest on the total amount owed </span><span style='font-size:12.0pt;font-family:"Times New Roman",serif'>must</span><span style='font-size:12.0pt;font-family:"Times New Roman",serif'> be calculated at the Category B rate of interest as defined in SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=54-3-16">54-3-16</A> and begin</span><span style='font-size:12.0pt;font-family:"Times New Roman",serif'>s</span><span style='font-size:12.0pt;font-family:"Times New Roman",serif'> to accrue on the 91<sup>st</sup> day an account is past due for any amount. A licensing agent who has been </span><span style='font-size:12.0pt;font-family:"Times New Roman",serif'>revok</span><span style='font-size:12.0pt;font-family:"Times New Roman",serif'>ed for 12 months or more may be reappointed as a licensing agent if the agent purchases a surety bond as required by SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=41-6-59">41-6-59</A> prior to reappointment as a licensing agent. </span><span style='font-size:12.0pt;font-family:"Times New Roman",serif'>T</span><span style='font-size:12.0pt;font-family:"Times New Roman",serif'>he secretary </span><span style='font-size:12.0pt;font-family:"Times New Roman",serif'>may</span><span style='font-size:12.0pt;font-family:"Times New Roman",serif'> not </span><span style='font-size:12.0pt;font-family:"Times New Roman",serif'>revoke</span><span style='font-size:12.0pt;font-family:"Times New Roman",serif'> a licensing agent for </span><span style='font-size:12.0pt;font-family:"Times New Roman",serif'>12</span><span style='font-size:12.0pt;font-family:"Times New Roman",serif'> months if the secretary is satisfied that the licensing agent experienced and can document personal illness, theft, natural disaster, or other circumstances which would excuse the agent's failure to pay any amount owed to the department.</span></p> <p class=MsoNormal style='text-align:justify'><span style='font-size:12.0pt; font-family:"Times New Roman",serif'>&nbsp;</span></p> <p class=MsoNormal style='text-align:justify'><span style='font-size:12.0pt; font-family:"Times New Roman",serif'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The department may collect the surety bond of any licensing agent who is at least 90 days past due on any amount owed to the department. The department shall apply the proceeds of the bond to payment of any amount owed to the department. No licensing agent against whose surety bond the department has taken action to satisfy payment of any amount owed to the department may be reappointed as a licensing agent.</span></p> <p class=MsoNormal style='text-align:justify'><span style='font-size:12.0pt; font-family:"Times New Roman",serif'>&nbsp;</span></p> <p class=MsoNormal style='text-align:justify'><span style='font-size:12.0pt; font-family:"Times New Roman",serif'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>Source:</b> 36 SDR 215, effective July 1, 2010; 46 SDR 74, effective December 2, 2019.</span></p> <p class=MsoNormal style='text-align:justify'><span style='font-size:12.0pt; font-family:"Times New Roman",serif'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>General Authority:</b> SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=41-2-18">41-2-18(8).</A></span></p> <p class=MsoNormal style='text-align:justify'><span style='font-size:12.0pt; font-family:"Times New Roman",serif'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>Law Implemented:</b> SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=41-6-59">41-6-59</A>, <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=41-6-59.1">41-6-59.1.</A></span></p> <p class=MsoNormal style='text-align:justify'><span style='font-size:12.0pt; font-family:"Times New Roman",serif'>&nbsp;</span></p> </div> </body> </html>