Filed as: Division of Insurance
Insurance producers selling policies in South Dakota must now have a physical presence and a domiciliary or business address in the state to be considered residents; a post office box or mail forwarding service alone does not qualify. Health insurance plans must update their covered preventive services annually to match current federal recommendations from the U.S. Preventive Services Task Force, the CDC's immunization guidelines, and federal screening panels, with specific reference dates of September 1, 2026, and December 31, 2025 for certain recommendations. Broker-dealers and their agents must now comply with the SEC's Regulation Best Interest standards when making investment recommendations to retail customers, meaning they must act in customers' best interests rather than prioritizing their own financial interests, and must satisfy any final judgments or regulatory penalties or face discipline including license suspension or revocation.
AI-generated from the proposed rule text — verify against the official documents.
The proposed rules adopt a definition of resident for producers, amend preventive services, and adopt the best interest standards for broker-dealers.
No specific cites listed — see the package documents.
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