ARSD 20:06:07:08. Variable contract agent license required prior to solicitation or sale

Before a person may sell a variable contract, the person must: (1) Pass the life insurance examination and be licensed as a life insurance agent under SDCL Title 58; (2) Pass either a series 6, series 7, series 63, or series 66 examination given by the Financial Industry Regulatory Authority; and (3) File a form approved by the director requesting to have variable annuities, variable life, or both, added as lines to the license. A nonresident agent must also submit an original home state certification which is not more than 90 days old.