South Dakota
Larry D. Deiter
South Dakota Division of Insurance
Appointments & Terminations
Yes
Yes
Within 15 days of contract execution or first business submission
JIT appointments permitted. Appointments must be submitted within 15 days of the date the agent/agency contract is executed or the first piece of business is submitted to the carrier
Yes
$10
$20
Yes
No
No
Required (but ignored) and is the date transaction is processed by the state. Must not precede effective date of appointee and appointer license.
Yes
Appointment renewals billed annually and paid via state portal.
$20
Yes
Voluntary termination; death; appointed in error; cancelled; cancelled for cause
Yes
Required and is the date supplied on transaction. Must not precede effective date of appointee license, appointer license, or effective date of appointment. Must be less than 30 days old
No fee
Licensing
Resident New License Insurance Producer: $25 Resident New License Surplus Lines Broker: $50 Non Resident New License Insurance Producer: $30 Non Resident New License Surplus Lines Broker: $50
Resident Insurance Producer
Renewal Fee: $20
Late Renewal Fee: $40
Surplus Lines Broker
Renewal Fee: $100
Late Renewal Fee: $200
Bail Bonds Producer Renewal Fee: $0
Managing General Agent Renewal Fee: $25
Insurance Producer
Fee Disclaimers:
See Retaliatory Fee:
90 days before expiration
Last day of birth month every 2 years based on year of first state license issue
Reinstatement allowed up to a year after expiration
90 days before expiration
Last day of birth month every 2 years based on year of first state license issue
Reinstatement allowed up to a year after expiration
No
No
Residence, Business, and Mailing
Managing General Agent, Surplus Lines Broker, Life and Health, Property and Casualty, Mutual, Rental Car, Stock, Bail Bonds Producer, Discount Medical Plan, Pharmacy Benefits Manager, Third Party Administrator License, Third Party Administrator Registration, Utilization Review Organization, Rating Bureau, Insurance Producer, Travel Retailer, Temporary Insurance Producer
Included in Producer License Class. Insurers are not required to appoint Brokers per NAIC PLMA
No
Agency
If commissions connected to SSN, then individual license will work. If have FEIN number set up and receiving commissions with FEIN, must have entity license.
Yes
No
90 days prior to license expiration date until expiration date. Reinstatement period begins four days after expiration and ends one year after expiration date.
Yes if receiving commissions
Only DRLP has to be on record, but if ever audited, need to provide record that agent was with agency.
If the branch is operating under the same name as the licensed Business Entity, then the branch may be added to the existing license.
Adjuster
No
No
N/A
None
Continuing Education
10 per LOA
2 years
Last day of birth month
Year of first license issuance
Prior to license expiration. Depending on when you first obtain your license, your first licensing period may range from 24 to 35 months.
90 days prior to expiration date
Licensees who hold a limited license to sell only credit life and credit health insurance; Licensees outside of the U.S. and territories; Licensees who are resident attorneys licensed to practice law in South Dakota; Licensees who are transportation ticket producers or common carriers who hold a limited license to sell travel accident and baggage insurance; Licensees who are employees of trade associations and who hold a limited license to sell only surety bonds to association members; Licensees licensed to sell only bail bonds. Exempt individuals may have to notify the department in writing of relevant exemption.
Producer may reinstate their license within a year of expiration. In order to reinstate the license, the producer must have completed the CECs required for the two-year licensing period prior to his license cancellation. These CE's must be completed before the producer may be reinstated. A producer will need to pay $40 in order to reinstate the license.
3 hours of NFIP course
8-hour initial certification, with 4 hours of LTC-specific additional training by July 1 of every other even-numbered year.
One-time, 4-hour course
https://agentsync.io/blog/individual-producers/insurance-continuing-education-south-dakota
Regulatory Updates
South Dakota Changes Annuity CE Requirements
This change impacts both existing resident and non resident producers. Those that complete an annuity training by 1/1/2023 must also complete a new Annuity Best Interest 4 credit class or an additional 1-time, 1-credit course prior to 7/1/2023. New producers after 1/1/2023 must take the 4 credit course.
South Dakota Releases Annuity Best Interest Standards
The Annuity Best Interest will be effective Jan. 1, 2023. The purpose is to place the duty of annuity recommendations to consumers upon insurance producers.
SD to Allow Producers Holding Other LOAs to Sell Travel
Effective 7/1/2022 SD has added language to allow producers holding other lines of authority to sell travel and does not require a P&C producer to be appointed.
South Dakota Makes CE Requirement Changes
SD announces CE change that impacts both Resident and Non-Resident License holders. For producers that have a life insurance Line of Authority cannot sell annuities unless the required training courses are completed.
FAQs
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How Do I Get an Insurance License in South Dakota?
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How Do I Get a State Adjuster License in South Dakota?
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How do I renew my insurance license in South Dakota?
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How do I renew my non-resident insurance license in South Dakota?
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How Do I renew My Non-Resident Adjuster License in South Dakota?
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How Do I Renew My Adjuster License In South Dakota?