South Dakota

Commission Alternatives - Fees and Requirements

Charge fee in addition to or in lieu of collecting commissions?
Specific Disclosures or written agreements required to charge fees to a client?
Admin fees for insurance placement?
Charges for services unrelated to the placement of insurance?
Additional licensing required?
Licensed insurance producers may charge a fee in lieu of or in addition to receiving commissions for insurance placement, provided such compensation is contemplated in the premium/charge for insurance filed with and approved by the commissioner and/or included in the policy.  S.D. Codified Laws § 58-33-36.
No Yes  

Malpractice Damage Cap

Damage Cap Amount

State Code

$500,000 cap for non-economic damages. No cap on economic damages.