{"id":1144,"date":"2013-05-20T03:18:37","date_gmt":"2013-05-20T03:18:37","guid":{"rendered":"http:\/\/suretyone.com\/blog\/?p=1144"},"modified":"2017-01-03T16:20:34","modified_gmt":"2017-01-03T16:20:34","slug":"south-dakota-surplus-lines-broker-bond","status":"publish","type":"post","link":"https:\/\/suretyone.com\/blog\/south-dakota-surplus-lines-broker-bond\/","title":{"rendered":"South Dakota Surplus Lines Broker Bond"},"content":{"rendered":"<p>Within thirty days of approval an applicant must deliver a <strong><a title=\"Surety One\" href=\"https:\/\/suretyone.com\" target=\"_blank\">South Dakota surplus lines broker bond<\/a>\u00a0<\/strong>to the Department of Insurance, and before procuring any surplus lines business in the state. \u00a0A surplus lines broker is an insurance salesperson who is licensed to place coverage with an insurance company that is not licensed to do business in the state. \u00a0The <strong>South Dakota surplus lines broker bond<\/strong> is a guarantee that the broker will conform to and abide by each and every provision of the insurance laws of the State of South Dakota and any other applicable laws, and will pay to the State of South Dakota any monies coming due. \u00a0The surety bond must be executed\u00a0in favor of the State of South Dakota and in the penal sum of two thousand dollars ($2,000). \u00a0Only corporate surety companies holding a current certificate of authority with the <a title=\"SD DOI\" href=\"http:\/\/www.dlr.sd.gov\/insurance\/\" target=\"_blank\">South Dakota Department of Insurance<\/a> are acceptable as sureties for this bond. The &#8216;financial guarantee&#8217; portion of the <strong><a title=\"Surety One commercial surety page\" href=\"https:\/\/suretyone.com\/commercial-surety-bonds\" target=\"_blank\">South Dakota surplus lines broker bond<\/a><\/strong> obligates the broker to promptly remit\u00a0the premium taxes pursuant to \u00a7\u00a7\u00a058-32-44 and 58-32-45. \u00a0The surety bond may be canceled by giving\u00a0thirty days&#8217; prior written notice of the termination to the broker and then filed with the Director. <strong>National surety leader<\/strong>,\u00a0<a title=\"Surety One\" href=\"https:\/\/suretyone.com\/\" target=\"_blank\">Surety One, Inc.<\/a>, is a specialist in the bonding needs of the insurance services sector. \u00a0We will issue these\u00a0<em>surety bonds\u00a0<\/em>for ALL experienced surplus lines applicants in every state that requires bonding of managing general agencies, regardless of temporary fluctuations in financial statement condition and\/or principal&#8217;s credit. We also offer superlative\u00a0<a title=\"Surety One fidelity bond page\" href=\"https:\/\/suretyone.com\/fidelity-bonds\" target=\"_blank\">fidelity bond<\/a>\u00a0coverages to protect against losses due to employee dishonesty. \u00a0Visit the surety leader at\u00a0<a title=\"Surety One\" href=\"https:\/\/suretyone.com\/\" target=\"_blank\">SuretyOne.com<\/a>, call\u00a0<span style=\"color: #ff0000;\">(787) 333-0222<\/span>\u00a0or\u00a0<span style=\"color: #ff0000;\">(800) 373-2804<\/span>, or email\u00a0<span style=\"color: #ff0000;\">Underwriting@SuretyOne.com<\/span>\u00a0for a\u00a0<strong>South Dakota surplus lines broker bond<\/strong>\u00a0application or information about any bond product.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Within thirty days of approval an applicant must deliver a South Dakota surplus lines broker bond\u00a0to the Department of Insurance, and before procuring any surplus lines business in the state. \u00a0A surplus lines broker is an insurance salesperson who is&#8230; <a class=\"more-link\" href=\"https:\/\/suretyone.com\/blog\/south-dakota-surplus-lines-broker-bond\/\">Continue Reading &rarr;<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[139],"tags":[1417,1414,1416,1415],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v17.7.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>South Dakota Surplus Lines Broker Bond &bull; Surety One, Inc.<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/suretyone.com\/blog\/south-dakota-surplus-lines-broker-bond\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"South Dakota Surplus Lines Broker Bond &bull; Surety One, Inc.\" \/>\n<meta property=\"og:description\" content=\"Within thirty days of approval an applicant must deliver a South Dakota surplus lines broker bond\u00a0to the Department of Insurance, and before procuring any surplus lines business in the state. \u00a0A surplus lines broker is an insurance salesperson who is... 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