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.
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This article is intended to be helpful and informative. But even common legal matters can become complex and stressful. A qualified insurance lawyer can address your particular legal needs, explain the law, and represent you in court. Take the first step now and contact a local insurance attorney to discuss your specific legal situation.