58-32-5. Exemption of interstate commerce.
The provisions of this chapter do not apply, except as to §58-32-43, to the following insurances if so placed by licensed insurance producers or surplus line brokers of this state:
(1)Ocean marine and foreign trade insurances;
(2)Insurance on subjects located, resident, or to be performed wholly outside of this state, or on vehicles or aircraft owned and principally garaged outside this state;
(3)Insurance on operations of railroads engaged in transportation in interstate commerce and their property used in such operations;
(4)Insurance of aircraft owned or operated by manufacturers of aircraft, or of aircraft operated in commercial interstate flight, or cargo of such aircraft, or against liability, other than workers' compensation and employer's liability, arising out of the ownership, maintenance, or use of such aircraft.
Source: SL 1966, ch 111, ch 11, §2 (1); SL 2001, ch 286, §194.