What Are The General Requirements For Licensure In The State Of South Dakota?

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What Are The General Requirements For Licensure In The State Of South Dakota?

In order to qualify as a South Dakota resident insurance Producer, you must satisfy the following basic requirements: pass the license examination(s) required by statute; meet the minimum age requirement of 21 years of age for a Bail Bonds license or 18 years of age for all other licenses. Submit the completed Application for Individual Resident Producer License; remit a $25 application fee (only with the first application); submit an original letter of clearance from your last resident state in which you have held a resident license within the past three years; must show date of cancellation. Persons wishing to be licensed for Variable Life or Variable Annuities must meet all requirements above for a Life license and also: be registered with the South Dakota Division of Securities; have passed a Series 6, 7, 63 or 66 exam; and submit an approved application form, available from insurance companies or apply online at www.state.sd.us/dcr/insurance. Licensed resident or nonresident Producers of South Dakota are eligible to be licensed as Surplus Lines brokers, upon receipt of: a completed Application Form; a $2,000 bond; and a $50 license fee. Applicants should contact the Division of Insurance for the application, bond form and statement of regulations or obtain an application online at www.state.sd.us/dcr/insurance. South Dakota residents, at least 21 years of age, are eligible to be licensed for a Bail Bonds license. The Division requires: passing the Bail Bonds examination; a completed Bail Bonds application and $30 fee; a $10 appointment fee; fingerprints certified by an authorized Law Enforcement Officer; a credentialsize recent photograph (full face); a completed Bail Bond license application; an Authorization and Release form; and a $15 check or money order payable to the South Dakota Division of Criminal Investigation. Persons who want to sell Crop Insurance or MultiPeril Crop Insurance must hold a Crop License and pass the South Dakota Producer's Examination for Crop Insurance, Series 1050. Anyone holding a Crop Insurance License is authorized to sell MultiPeril Crop Insurance. Holding a Property and/or Casualty license does not authorize anyone to sell crop insurance.

Other South Dakota Insurance FAQs

Q: Where Can I Obtain Insurance Licensing Information?
A: You may obtain licensing information from the South Dakota Division of Insurance: Address: Producer Licensing South Dakota Division of Insurance 118 West Capitol … More
Q: Who Needs To Be Licensed In South Dakota?
A: Any person or business entity that sells, solicits or negotiates insurance in this state for any class or classes of insurance must be licensed for that line of … More
Q: How Can I Obtain The Required Forms For Insurance Licensing?
A: Click here to access application forms for various licensing types. If additional forms are needed, you may contact the Division of Insurance in person, by mail, fax … More
Q: What Types Of Licenses Does The Insurance Division Issue?
A: The South Dakota Division of Insurance issues the following types of licenses: Bail Bonds, Resident Producer, NonResident Producer, Surplus Lines Broker, Broker, … More
Q: Is Any Pre-Licensing Education Required?
A: No prelicensing education is required in South Dakota to obtain a resident or nonresident producer license.
Q: How Do I Become Licensed As A New Resident South Dakota Insurance Producer?
A: If you have not previously held a producer license in this state or any other state, you will need to take insurance exams for those lines of authority you wish to … More
Q: How Do I Qualify For A Non-Resident Producer License?
A: You must first be licensed and in good standing in your Home State as a resident producer. The Division of Insurance will verify your licensing status, your lines of … More
Q: How Do I Apply For A Business Entity Producer License?
A: Both resident and nonresident business entities must first be registered with the South Dakota Secretary of State to receive a Certificate of Authority to … More
Q: How Do I Schedule An Insurance Licensing Exam?
A: Contact the exam provider Experior Assessments at 18008648373 or contact their web site at http://www.experioronline.com/sdinsurance.htm to obtain an … More
Q: If I Move To South Dakota And Have Been Licensed In Another State, Do I Need To Take Any Insurance Exams?
A: If you move to South Dakota and held a license previously in another state and request or apply for a license in South Dakota within 90 days of the date you terminated … More