South Dakota

58-5-1. Scope of chapter.

58-5-2. "Stock" insurer defined.

58-5-3. "Mutual" insurer defined.

58-5-4. Applicability of corporation laws.

58-5-5. Incorporation of stock and mutual insurers.

58-5-6. Incorporators--Number and qualifications.

58-5-6.1. Domestication of foreign company--Requirements and procedure.

58-5-7. Articles of incorporation--Execution and acknowledgment--Contents.

58-5-8. Articles of incorporation delivered to director with filing fees--Examination and approval by attorney general, return to director.

58-5-9. Distribution of copies of approved articles.

58-5-10. Disapproval of articles by attorney general--Statement of reasons--Returned to incorporators.

58-5-11. Amendment of articles of incorporation--Submission and filing.

58-5-12. Bond required of mutual insurer before soliciting applications for insurance--Filing by incorporators--Amount, conditions.

58-5-13. Deposit by incorporators of mutual insurer in lieu of bond--Amount.

58-5-14. Duration of bond or deposit by mutual insurer.

58-5-15. Commencement of solicitation by mutual insurer.

58-5-16. Temporary insurance producer's licenses for solicitation of applications for mutual insurance--Issuance by director.

58-5-17. Applications for mutual insurance--Signature by applicant, coverage.

58-5-18. Applications for mutual insurance--Contents.

58-5-19. Trust deposit of premiums or fees collected by mutual insurer on qualifying applications.

58-5-20. Transaction of business without certificate of authority as misdemeanor.

58-5-21. Insurance applications and surplus required for original certificate of authority to domestic mutual insurer.

58-5-22. Expendable surplus funds required of domestic mutual insurer.

58-5-23. Determination by director as to weight to be given to insurance plans.

58-5-24. Cessation of corporate powers upon failure of mutual insurer to secure certificate of authority--Return of trust deposit.

58-5-25. Issuance of certificate of authority to domestic mutual insurer--Funds in trust deposit become funds of insurer--Delivery of policies--Effective date of policies.

58-5-26. Authorization of domestic mutual insurer to transact additional kinds of insurance.

58-5-27. Membership of policyholders in domestic mutual insurer--Reinsurance contract excepted.

58-5-28. Eligibility to membership in domestic, foreign, or alien mutual insurer.

58-5-29. Contingent liability of members of mutual insurer--Exception.

58-5-30. Contingent liability of member of mutual insurer not terminated by termination of policy.

58-5-31. Unrealized contingent liability of members of mutual not an asset of insurer.

58-5-32. Levy of assessment by mutual insurer for contingent liability.

58-5-33. Amount of assessment by mutual insurer.

58-5-34. Computation of assessment levied by mutual insurer.

58-5-35. Offsets not allowed against assessment by mutual insurer.

58-5-36. Lien of mutual insurer for levy of assessment for contingent liability.

58-5-37. Extinguishment of contingent liability--Issuance of nonassessable policies--Revocation of authority.

58-5-38. Extinguishment of contingent liability must apply to all members and policies.

58-5-39. Bylaws of domestic mutual insurer--Adoption, modification, and revocation.

58-5-40. Meetings of members of domestic mutual insurer--Time, notice, quorum, and conduct.

58-5-41. Voting rights of members of domestic mutual insurer.

58-5-42. Directors of domestic mutual insurer--Number, qualifications, election, terms of office, and powers.

58-5-43. Officers of domestic mutual insurer--Number, designation, election, and terms of office--Powers and duties.

58-5-44. Funds of domestic mutual insurer--Deposit, custody, disbursement, and accounting.

58-5-45. Management of domestic mutual insurer.

58-5-46. Certified copy of bylaws and amendments of domestic mutual insurer filed with director--Disapproval by director, grounds.

58-5-47. Bylaws of domestic stock insurer--Adoption, modification, and revocation.

58-5-48. Bylaws of domestic stock insurer subject to approval of director.

58-5-49. Equity securities of domestic stock insurer--Rules and regulations as to solicitation of proxies, consents, and authorities--Adoption and promulgation.

58-5-50. Annual meetings of stockholders or members--Election of directors--Reports of officers of insurer as to affairs--Transaction of other business--Notice of meeting.

58-5-51. Special meetings of stockholders or members--Calling by board of directors--Notice.

58-5-52. Special meetings of stockholders or members called by secretary on request of directors, stockholders, or members--Failure of secretary to issue call.

58-5-53. Stockholder or member compelling board of directors to call annual meeting.

58-5-54. Place for holding meetings of stockholders or members--Waiver.

58-5-55. Meetings of stockholders or members--Organization for transaction of business, quorum required.

58-5-56. Amendment of articles of incorporation at meeting of stockholders or members--Notice of meeting.

58-5-57. Reduction of capital of stock insurer--Disapproval by director, grounds.

58-5-58. Directors of domestic insurer--Number--Management of affairs of insurer.

58-5-59. Election of directors of domestic insurer--Qualifications.

58-5-60. Directors of domestic insurer--Terms of office.

58-5-61. Pecuniary interest of officer, director, committee member, or employee of domestic insurer in transactions with insurer prohibited--Misdemeanor.

58-5-62. Guarantee by insurer of any financial obligation of its officers, directors, stockholders, or members prohibited.

58-5-63. Policy holding not a prohibited pecuniary interest.

58-5-64. Stock ownership not a prohibited pecuniary interest.

58-5-65. Other permitted pecuniary interest of director, officer, or employee of insurer.

58-5-66. Compensation of officers and employees of domestic insurer.

58-5-67. Pensions to officers and directors of domestic insurers.

58-5-68. "Equity security" defined.

58-5-69. Statement of ownership of insurance company filed with director--Change of ownership, time for statement.

58-5-70. Short sales by insider as misdemeanor--Delivery of securities sold, when required.

58-5-71. Profits from insider security transactions accruing to company.

58-5-72. Suit to recover insider profits accruing to company.

58-5-73. Exemption from insider trading restrictions.

58-5-74. Registered and closely held securities exempt from insider trading restrictions.

58-5-75. Brokers and market specialists exempt from insider trading restrictions.

58-5-76. Arbitrage transactions exempt from insider trading restrictions.

58-5-77. Rules and regulations on insider trading.

58-5-78. Nonliability for insider trading acts in good faith in conformity with rule or regulation.

58-5-79. Management of domestic insurers during national emergency--Continuity, means for facilitating.

58-5-80. Bylaws to cover management during national emergency.

58-5-81. Quorum of directors during national emergency--Filling vacancies in board.

58-5-82. Vice-presidents acting as directors during national emergency--Insufficient number of vice-presidents, appointment of directors by insurance director.

58-5-83. Succession to office during national emergency.

58-5-84. Principal place of business during national emergency.

58-5-85. Domestic insurers--Management and exclusive agency contracts, filing with and approval by director--Violation as misdemeanor.

58-5-86. Domestic insurer--Management and exclusive agency contracts, disapproval by director, grounds.

58-5-87. Domestic insurer--Management and exclusive agency contracts, time for disapproval by director--Disapproval in writing, statement of grounds.

58-5-88. Repealed by SL 2012, ch 252, §§ 32 to 36.

58-5-93. Location of home office and principal place of business of domestic insurers--Records maintained.

58-5-94. Assets of domestic insurer to be maintained in state--Exceptions.

58-5-95. Director's consent required for removal of records or assets from state--Unauthorized removal or concealment as felony.

58-5-96. Delinquency proceedings by director for removal or attempted removal of records or assets of domestic insurer.

58-5-97. Branch offices established by domestic insurer--Transmission of funds outside state--Deposits under custodial arrangements.

58-5-98. Prior maintenance by domestic insurer of branch or regional place of business or home office outside state not invalidated.

58-5-99. "Reciprocating state" defined.

58-5-100. Solicitation by domestic insurer in reciprocating state in which it has no license prohibited.

58-5-101. Advertising through publications and broadcasts originating outside reciprocating state not prohibited.

58-5-102. Insurance in reciprocating state under contracts issued in state in which licensed not prohibited--Policies issued as an unauthorized insurer permitted under laws of reciprocating state not prohibited.

58-5-103. Suspension or revocation of certificate of authority for violation by domestic insurer.

58-5-104. Participating policies--Issuance authorized by articles of domestic insurer--Nondiscrimination between policyholders.

58-5-105. Continued issuance of participating policies without authorization in articles.

58-5-106. Dividends on participating policies not contingent on renewal premiums.

58-5-107. Participating policyholder as member.

58-5-108. Borrowed surplus of domestic stock or mutual insurer--Agreement to repay, interest.

58-5-109. Approval of loan and agreement by director--Disapproval of proposed loan or agreement, grounds.

58-5-110. Legal liabilities of insurer on borrowed funds--Disclosure in financial statement.

58-5-111. Repayment of loan by domestic insurer.

58-5-112. Provisions as to borrowed surplus inapplicable to loans in ordinary course of business or secured by pledge or mortgage.

58-5-113. Illegal dividends--Revocation or suspension of certificate of authority.

58-5-114. Impairment of capital or surplus of domestic stock or mutual insurer--Determination of amount of deficiency by director--Notice to insurer.

58-5-115. Curing impairment of capital or surplus.

58-5-116. Assessment of stockholders to cure impairment of capital or surplus--Enforcement.

58-5-117. Levy of assessment by mutual insurer to cure deficiency.

58-5-118. Officers and directors permitting new business during impairment of capital or surplus--Liability for losses.

58-5-119. Failure to cure deficiency, insurer deemed insolvent--Delinquency proceedings.

58-5-120. Bulk reinsurance by domestic stock insurer--Agreement, filing with and approval by director.

58-5-121. Approval by director of bulk reinsurance agreement--Disapproval.

58-5-122. Compensation for promoting bulk reinsurance prohibited.

58-5-123. Bulk reinsurance by mutual insurer--Agreement, filing with and approval by director.

58-5-124. Members of domestic mutual insurer voting on bulk insurance, requirement by director--Calling of meeting, notice--Limited rights of members of life insurer to vote.

58-5-125. Bulk reinsurance by domestic mutual insurer in stock insurer--Payments to members.

58-5-126. Approval by director of bulk reinsurance by mutual insurer--Disapproval--Notice.

58-5-127. Compensation for promoting bulk reinsurance by mutual insurer.

58-5-128. Merger or consolidation of stock insurers.

58-5-129. Stock acquisition plan deemed merger--Approval required.

58-5-130. Compensation for promoting merger or consolidation of stock insurers.

58-5-131. Filing and hearing on consolidation or merger plan--Grounds for disapproval.

58-5-132. Participation by other states in hearing on merger or consolidation.

58-5-133. Disapproval of merger or consolidation--Notice to insurer.

58-5-134. Merger or consolidation of mutual insurers--Procedure.

58-5-135. Members of mutual insurer voting on merger or consolidation--Procedure--Limited right of members of life insurer.

58-5-136. Provisions applicable to mutual mergers and consolidations.

58-5-137. 58-5-137. Repealed by SL 1983, ch 371, § 3

58-5-138. Conversion of mutual to stock insurer restricted.

58-5-138.1. Compensation of officer, insurance producer, or employee of converting mutual insurer prohibited.

58-5-139. Liquidation of domestic mutual insurer--Distribution of remaining assets to members.

58-5-140. Distributive share of each member on liquidation of mutual insurer--Classification of policies.

58-5-141. 58-5-141, 58-5-142. Repealed by SL 1994, ch 372, §§ 1, 2

58-5-143. Disclosure of certain material transactions required--Filing a report.

58-5-144. Confidentiality of disclosure report.

58-5-145. Exception from disclosure requirement--"Material acquisition" defined.

58-5-146. Types of asset acquisitions subject to chapter.

58-5-147. Types of asset dispositions subject to chapter.

58-5-148. Information required in report of material acquisition or disposition of assets.

58-5-149. Determining whether to report acquisitions on a nonconsolidated or consolidated basis.

58-5-150. Materiality of nonrenewals, cancellations or revisions.

58-5-151. Reporting material nonrenewal, cancellation or revision.

58-5-152. Required information in reporting material nonrenewal, cancellation, or revision.

58-5-153. Determining whether to report material nonrenewals, cancellations, or revisions on a nonconsolidated or consolidated basis.

58-5-154. "Qualified education loan insurer" defined.

58-5-155. Qualified education loan insurer subject to Title 58--Exceptions.

58-5-156. Investment of funds by qualified education loan insurer--Limitations--Permitted rating categories.

58-5-157. Investment of funds in securities.

58-5-158. Subsidiary investment to be counted as admitted asset.

58-5-159. Applicability of federal Bankruptcy Code.

58-5-160. Additional exemptions or exemption authority.

58-5-161. Definitions for §§ 58-5-161 through 58-5-171.

58-5-162. Corporate governance disclosure--Requirements and limitations.

58-5-163. Submission of disclosure--Requirement.

58-5-164. Information provided with disclosure--Appropriate corporate level.

58-5-165. Duplicate information not required--Documentation.

58-5-166. Content and maintenance--Promulgation of Rules.

58-5-167. Disclosure documents and other information--Confidential and privileged--Exempt from public record--Permitted uses.

58-5-168. Disclosure documents and other materials--Testimony prohibited.

58-5-169. Disclosure documents and other materials--Information sharing and receiving.

58-5-170. Disclosure review--Expert assistance.

58-5-171. Disclosure information--Access by National Association of Insurance Commissioners--Requirements.

58-5A-1. Definitions.

58-5A-2. "Domestic insurer" defined.

58-5A-3. Acquisition of control of or merger with domestic insurer--Information statement required--Approval by director required--Violation as misdemeanor.

58-5A-3.1. Divestiture of controlling interest in domestic insurer--Notice to director and insurer.

58-5A-4. Contents of information statement--Violation as misdemeanor.

58-5A-5. Information statement required of partners or members of syndicate or group--Violation as misdemeanor.

58-5A-6. Information required of corporations, officers, directors and certain owners of voting securities--Violation as misdemeanor.

58-5A-7. Amendment of information statement--Violation as misdemeanor.

58-5A-8. Federal or state registration statements utilized in furnishing information.

58-5A-9. Approval by director of acquisition or merger--Grounds for disapproval.

58-5A-9.1. Disapproval of dividends or distributions for violation--Order of supervision.

58-5A-10. Time of hearing--Notice.

58-5A-10.1. Request for public hearing on consolidated basis.

58-5A-11. Procedure at hearing--Evidence admissible.

58-5A-11.1. Cost of hearing officer--Retention of various experts at acquiring person's expense.

58-5A-12. Time for director's determination after hearing.

58-5A-13. Statements and notices mailed to shareholders--Expenses of mailing--Security required.

58-5A-14. 58-5A-14. Repealed by SL 1992, ch 341, § 42

58-5A-15. Mergers and consolidations exempt from information and approval requirements.

58-5A-16. Acquisitions exempt from information and approval requirements by order of director.

58-5A-17. 58-5A-17. Repealed by SL 1990, ch 158, § 19

58-5A-18. Acquisition, divestiture, or merger without approval as misdemeanor.

58-5A-19. Jurisdiction of court in Hughes County--Director as attorney for service of process.

58-5A-20. Registration of subsidiary insurer--Time for registration--Statement required of foreign insurer.

58-5A-21. Form and contents of registration statement.

58-5A-22. Initial and annual registration fees.

58-5A-23. Disclosure of immaterial information not required.

58-5A-24. Report of changes required of registered insurer.

58-5A-25. Termination of registration.

58-5A-26. Consolidated registration statement or report by affiliated insurers.

58-5A-27. Registration by insurer on behalf of affiliated insurer.

58-5A-28. Insurer exempt from registration requirements on order of director.

58-5A-29. Disclaimer of affiliation--Contents--Procedure on disallowance.

58-5A-29.1. Annual enterprise risk report.

58-5A-30. Failure to file registration statement or enterprise risk report--Penalty--Waiver.

58-5A-31. Registration requirements satisfied by duplicate copies of federal filings.

58-5A-32. Standards for material transactions by registered insurers with affiliates--Nonconformity.

58-5A-33. 58-5A-33. Repealed by SL 1990, ch 158, § 26

58-5A-34. Adequacy of insurer's surplus--Factors considered.

58-5A-35. Notice to director of extraordinary distribution--Approval by director.

58-5A-36. Application for approval of extraordinary distribution--Contents.

58-5A-37. Examination of insurers and affiliates.

58-5A-38. Grounds for director's examination.

58-5A-38.1. Production of records, books, and other information.

58-5A-38.2. Examination of registered insurer's affiliates to obtain information.

58-5A-39. Personnel employed by department for conduct of examination.

58-5A-40. Insurer to pay expense of examination.

58-5A-41. Confidentiality of information in possession or control of Division--Use in regulatory or legal action--Grounds for publication by director.

58-5A-41.1. Testimony in private civil action concerning confidential information prohibited.

58-5A-41.2. Certain sharing of confidential information permitted.

58-5A-41.3. Agreements regarding sharing of confidential information.

58-5A-41.4. Information in possession or control of NAIC or third-party consultant confidential.

58-5A-41.5. Confidentiality not waived by disclosure of information.

58-5A-42. 58-5A-42. Repealed by SL 1978, ch 359, § 3

58-5A-43. Acquisition of subsidiaries--Limitations.

58-5A-44. Disposition of investment in subsidiary upon cessation of control--Waiver.

58-5A-45. Pre-acquisition notification--"Person" defined.

58-5A-46. "Acquisition" and "Involved insurer" defined--Limited application.

58-5A-47. Application of §§ 58-5A-46 to 58-5A-53--Exceptions.

58-5A-48. Pre-acquisition notification--Contents--Waiting period.

58-5A-49. Action by director when acquisition lessens competition--Promulgation of rules establishing competitive standards.

58-5A-50. Acquisitions subject to order under § 58-5A-69.

58-5A-51. Plan for limiting anticompetitive impact of acquisition--Time limit.

58-5A-52. Fine, suspension, or revocation for violation of cease and desist order.

58-5A-53. Failure to comply with filing requirements--Fine.

58-5A-54. Report of dividends and distributions to shareholders--Time limit.

58-5A-55. Persons subject to registration to provide complete and accurate information to insurer.

58-5A-56. Notification to director of certain transactions required.

58-5A-57. Transactions entered into to avoid director's review prohibited.

58-5A-58. Considerations in decision to approve or disapprove transactions.

58-5A-59. Notification to director of certain investments into one corporation.

58-5A-60. Certain securities not to be voted at shareholder's meeting--Application for injunction.

58-5A-61. Petition to seize or sequester voting securities acquired in violation of chapter.

58-5A-62. Violations by officers subject to fine--Determining amount of fine.

58-5A-63. Transactions or contracts entered into without approval--Cease and desist order by director.

58-5A-64. Criminal proceedings for violation committed knowingly--Fine.

58-5A-65. False statements, reports, or filings as felony.

58-5A-66. Order for conservation, liquidation, or rehabilitation--Distribution and recovery--Liability.

58-5A-67. Suspension, revocation, or refusal to renew license for violation.

58-5A-68. Stay of director's action upon appeal to circuit court.

58-5A-69. Order by director upon violation of standards--Cease and desist--Denial of license.

58-5A-70. Promulgation of rules by director.

58-5A-71. Application of §§ 58-5A-60 and 58-5A-61.

58-5A-72. Ownership situs of voting securities.

58-5A-73. Additional investments by domestic insurer.

58-5A-74. Determining whether investments meet applicable requirements.

58-5A-75. Investments subject to chapter 58-27.

58-5A-76. Application to insurer not a member of same holding company.

58-5A-77. Dividends paid from earned surplus--Exclusions--Promulgation of rules for ordinary dividends.

58-5A-78. Director's participation in supervisory college to determine insurer compliance.

58-5A-79. Expenses of director's participation in supervisory college.

58-5A-80. Director's participation in supervisory college with other regulators.

58-5A-80.1. Internationally active insurance group--Supervision.

58-5A-80.2. International active insurance group--Group-wide supervisor determination.

58-5A-80.3. Internationally active insurance group--Group-wide supervisor acknowledgment.

58-5A-80.4. Group-wide supervisor--Information for determination.

58-5A-80.5. Group-wide supervisor--Director supervision--Permitted activities.

58-5A-80.6. Group-wide supervisor--Director cooperation.

58-5A-80.7. Information sharing.

58-5A-80.8. Promulgation of rules.

58-5A-80.9. Reasonable expenses.

58-5A-81. Maintenance of risk management framework.

58-5A-82. Regular conduct of ORSA.

58-5A-83. Submission of ORSA summary report or comparable reports to division.

58-5A-84. ORSA summary report requirements.

58-5A-85. Exemption from requirements.

58-5A-86. Requirements where insurer or insurer's group does not qualify for exemption.

58-5A-87. Insurer's application for waiver.

58-5A-88. One year period to comply with requirements following loss of qualification for exemption.

58-5A-89. Conditions under which director may require maintenance of risk management framework, conduct of ORSA, and filing of ORSA summary report.

58-5A-90. Confidentiality of information submitted to division.

58-5A-91. Powers and duties of director regarding ORSA.

58-5A-92. Sharing of information and documents by director--Confidentiality.

58-5A-93. Promulgation of rules regarding ORSA.

58-5A-94. Group capital calculation--Annual filing required--Promulgation of rules.

58-5A-95. Group capital calculation--Annual filing exemptions.

58-5A-96. Group capital calculation required.

58-5A-97. Liquidity stress test framework--Scope criteria--Promulgation of rules.

58-5A-98. Confidentiality of group capital calculation and liquidity stress test.

58-5A-99. Insurer disclosure of certain confidential information permitted--Response to false or inappropriate statements.

58-5A-100. Deposit or bond required for insurer in hazardous financial condition.

58-5A-101. Insurer records and data held by affiliate--Property of insurer.

58-5A-102. Premiums--Property of insurer.

58-5A-103. Affiliate of certain domestic insurers--Jurisdiction of insurer's appointees.

58-5B-1. Definition of terms.

58-5B-2. Malpractice insurance contracts among health care providers.

58-5B-3. Incorporation of mutual malpractice insurers--Conflict of laws.

58-5B-4. Number of insurance applications required before certificate issued to mutual insurer.

58-5B-5. Admission of foreign insurer to solicit applications and do business in state--Reports--Taxation--Supervision.

58-5C-1. Definition of terms.

58-5C-2. Malpractice insurance contracts among attorneys.

58-5C-3. Incorporation of mutual malpractice insurers--Conflict of laws.

58-5C-4. Number of insurance applications required before certificate issued to mutual insurer.

58-5C-5. Admission of foreign insurer to solicit applications and do business in state--Reports--Taxation--Supervision.