South Dakota § 58-30-126 - License required--Bond or errors and omissions policy.
Full text of South Dakota South Dakota Codified Laws § 58-30-126 — License required--Bond or errors and omissions policy., with citation guidance and answers to common questions.
§ 58-30-126. License required--Bond or errors and omissions policy.
No person may act in the capacity of a managing general agent with respect to risks located in this state for an insurer licensed in this state unless the person is a licensed insurance producer in this state. No person may act in the capacity of a managing general agent representing an insurer domiciled in this state with respect to risks located outside this state unless the person is licensed as an insurance producer in this state. The license may be a nonresident license.
The director may require the managing general agent to obtain a bond or an errors and omissions policy in an amount acceptable to the director for the protection of the insurer.
Source: SL 1992, ch 353, § 3; SL 2001, ch 286, § 189.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 58-30-126
What does South Dakota Codified Laws § 58-30-126 cover?
Section 58-30-126 ("License required--Bond or errors and omissions policy.") is part of the South Dakota Codified Laws, the codified statutory law of South Dakota. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite South Dakota § 58-30-126?
A common citation format is "South Dakota Codified Laws § 58-30-126" (South Dakota). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of South Dakota law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the South Dakota official source linked on this page or consult a licensed South Dakota attorney.
How does South Dakota § 58-30-126 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in South Dakota can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in South Dakota.