SDCL § 58-29D-26: Conditions not requiring license.

An administrator is not required to hold a license as an administrator in this state if all of the following conditions are met:

(1) The administrator has its principal place of business in another state;

(2) The administrator is not soliciting business as an administrator in this state;

(3) In the case of any group policy or plan of insurance serviced by the administrator and less than one hundred certificate holders reside in this state.