58-14-16.13. Terminated or suspended certification--Inactive status.
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/sd/title-58/chapter-58-14/58-14-16-13·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A certified reinsurer whose certification has been terminated for any reason shall be treated as a certified reinsurer required to secure one hundred percent of the certified reinsurer's obligations. For the purposes of this section, the term, terminated, means revocation, suspension, voluntary surrender, and inactive status. If the director continues to assign a higher rating as permitted by other provisions regarding certification, this requirement does not apply to a certified reinsurer in inactive status or to a reinsurer whose certification has been suspended.