58-5A-9.1. Disapproval of dividends or distributions for violation--Order of supervision.
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/sd/title-58/chapter-58-5/58-5a-9-1·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
If the director determines that any person fails to comply with the provisions of § 58-5A-3 , 58-5A-3.1 , 58-5A-4 , 58-5A-8 , 58-5A-9 , or 58-5A-45 preventing the full understanding of the enterprise risk to the insurer by the affiliates or by the insurance holding company system, the violation may serve as an independent basis for disapproving dividends or distributions. The director may place the insurer under an order of supervision pursuant to the provisions of chapter 58-29B .