State statute · South Dakota

Insurance and Security for Payments

South Dakota Codified Laws Title 62, Chapter 62-5

Publisher: sdlegislature.gov
Edition: South Dakota Codified Laws
Last checked: 2026-09-25
Status: SD statutes, public domain

Edition and licensing notes

Edition. South Dakota Codified Laws (SDLRC official posting), retrieved 2026-09-25

Status. SD statutes, public domain (state government edict).

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What this document is

South Dakota Codified Laws Title 62, Chapter 62-5 - Insurance and Security for Payments is a state statute published by sdlegislature.gov. It is one of the South Dakota documents that insurance license exam questions are written from, including south dakota property & casualty practice questions. This page summarizes it and points to the official version, which is the text to rely on.

Sections cited in practice questions

Each practice answer shows the exact passage it comes from. These are sections of this document that questions cite, with a short excerpt from the source text.

S.D. Codified Laws § 62-5-1 (Methods of securing payment of compensation)
“Except as otherwise provided in §§ 62-5-5 and 62-5-6, any employer, coming within the compensation provisions of this title, shall secure the payment of compensation to the employer's employees in one of the ways provided by § 62-5-2 or 62-5-3. If the payment of compensation is so secured, the...”
S.D. Codified Laws § 62-5-20 (Insurer to pay entire loss--Employer to reimburse deductible amount)
“If an insured employer chooses a deductible, the insured employer is liable for the amount of the deductible paid for each claim of injury suffered by an employee. The insurer shall pay the entire cost of the employee's loss and then seek reimbursement from the insured employer for the amount of the deductible.”
SDCL 62-5-8 (Commission for placing insurance limited)
“No insurer of any obligation under this title may by himself, herself, or through another, either directly or indirectly, charge, accept, or pay as a commission or compensation for placing or renewing any insurance under this title more than fifteen percent of the premium charged.”

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South Dakota Property & Casualty practice test

Questions about this source

South Dakota Codified Laws Title 62, Chapter 62-5 - Insurance and Security for Payments is a state statute published by sdlegislature.gov. Edition: South Dakota Codified Laws (SDLRC official posting), retrieved 2026-09-25.

No. This page summarizes the document and links to the official version. Always rely on the text published by sdlegislature.gov for the current law.

Practice questions for South Dakota Property & Casualty cite this document.

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