How many days does a producer have to report a felony criminal prosecution to the Director after the initial hearing?

In South Dakota, a producer is required to report any felony criminal prosecution to the Director within 30 days following the initial hearing. This reporting requirement serves to keep the insurance regulatory authority informed about any legal issues that could affect the producer's ability to conduct business. Timely reporting is essential for maintaining compliance with state laws and regulations governing the conduct of insurance producers. By requiring notification within this 30-day window, the state aims to ensure that all producers maintain a standard of integrity in their professional dealings. Understanding this timeframe is crucial for producers to avoid potential penalties or lapses in their licensing status.