South Dakota § 58-30-140 - Agents not to obtain loans from clients--Exceptions.
Full text of South Dakota South Dakota Codified Laws § 58-30-140 — Agents not to obtain loans from clients--Exceptions., with citation guidance and answers to common questions.
§ 58-30-140. Agents not to obtain loans from clients--Exceptions.
No insurance producer may obtain a loan from an existing or former client, other than a lending institution authorized by state or federal law, unless there is a written contract establishing the terms for repayment of the loan and the contract is filed with the division within thirty days of its effective date. This section does not apply to any loans transacted between an insurance producer and that insurance producer's spouse, parents, children, aunts, uncles, or grandparents.
Source: SL 1999, ch 257, § 1; SL 2001, ch 286, § 192.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 58-30-140
What does South Dakota Codified Laws § 58-30-140 cover?
Section 58-30-140 ("Agents not to obtain loans from clients--Exceptions.") 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 § 58-30-140?
A common citation format is "South Dakota Codified Laws § 58-30-140" (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 § 58-30-140 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.