58-13-4. Deduction for reinsurance or cosuretyship.
Reinsurance ceded for which credit is allowed pursuant to chapter 58-14 shall be deducted in determining risk retained. As to surety risks, deductions shall also be made of the amount assumed by any established incorporated cosurety and the value of any security deposited, pledged, or held subject to the surety's consent and for the surety's protection.
Source: SL 1966, ch 111, ch 4, ยง11 (3).
Structure South Dakota Codified Laws
Chapter 13 - Limit Of Risk Insured
Section 58-13-1 - Maximum single risk assumed.
Section 58-13-2 - Subject of insurance defined.
Section 58-13-3 - Surplus to policyholders defined.
Section 58-13-4 - Deduction for reinsurance or cosuretyship.
Section 58-13-5 - Chapter inapplicable when maximum possible loss not ascertainable.