58-14-16.34. Application of reciprocal jurisdiction laws.
Nothing in §§ 58-14-16.23 to 58-14-16.34, inclusive:
(1)Limits or in any way alters the capacity of parties to a reinsurance agreement to agree on requirements for security or other terms in that reinsurance agreement except as expressly prohibited by this chapter or other applicable law;
(2)Authorizes an assuming insurer to withdraw or reduce the security provided under any reinsurance agreement except as permitted by the terms of the agreement; or
(3)Limits or alters the capacity of parties to any reinsurance agreement to renegotiate the agreement.
Source: SL 2021, ch 211, § 12.
Structure South Dakota Codified Laws
Section 58-14-1 - "Reinsurance" defined.
Section 58-14-3 - Risk limits applicable.
Section 58-14-6 - Original insured--No interest in reinsurance.
Section 58-14-7 - Credit for reinsurance allowed for domestic ceding insurer as asset or reduction.
Section 58-14-8 - Credit allowed for reinsurance if assuming insurer licensed in state.
Section 58-14-9 - Requirements for reinsurer to be accredited.
Section 58-14-10 - A lien assuming insurer--Standards--Surplus required--Examination of records.
Section 58-14-11.1 - Trust fund requirements for single assuming insurer.
Section 58-14-12 - Trust fund requirements for group of incorporated underwriters.
Section 58-14-16.1 - Credit allowed for reinsurance ceded to certified reinsurer.
Section 58-14-16.2 - Eligibility for certification as reinsurer.
Section 58-14-16.7 - Rating of certified reinsurer.
Section 58-14-16.11 - Minimum trusteed surplus requirements.
Section 58-14-16.12 - Reduction in allowable credit for insufficient security.
Section 58-14-16.13 - Terminated or suspended certification--Inactive status.
Section 58-14-16.15 - Inactive certified reinsurers.
Section 58-14-16.17 - Diversification of ceding insurer's reinsurance program--Notice requirements.
Section 58-14-16.20 - Suspension or revocation of reinsurer' s accreditation or certification.
Section 58-14-16.21 - Credit for reinsurance during suspension or revocation.
Section 58-14-16.26 - Documents that must be provided to the division.
Section 58-14-16.27 - Prompt payment practices.
Section 58-14-16.28 - List or reciprocal jurisdictions to be published.
Section 58-14-16.29 - List of assuming insurers.
Section 58-14-16.30 - Assuming insurers that no longer meet one or more requirements.
Section 58-14-16.31 - Procedure for denying statement credit.
Section 58-14-16.32 - Assuming insurers in receivership.
Section 58-14-16.33 - Effective date for reinsurers in reciprocal jurisdictions.
Section 58-14-16.34 - Application of reciprocal jurisdiction laws.
Section 58-14-17 - Promulgation of rules.
Section 58-14-18 - Application of reinsurance provisions.
Section 58-14-19 - "Substantially similar" defined.
Section 58-14-20 - Disallowal of credit or deduction.
Section 58-14-21 - "Reinsurer" defined--Examination of reinsurer.
Section 58-14-22 - Application of chapter.
Section 58-14-24 - Definition of terms.
Section 58-14-25 - Persons not agents.
Section 58-14-26 - License required to sell, solicit, negotiate, or place reinsurance.
Section 58-14-27 - Agent or broker bond--Errors and omissions policy.
Section 58-14-28 - Refusal to license--Reasons.
Section 58-14-29 - Written contract between agent or broker and insurer or reinsurer.
Section 58-14-30 - Records of reinsurance contracts.
Section 58-14-31 - Insurer or reinsurer to employ only licensed agent or broker.
Section 58-14-32 - Approval and filing of contract.
Section 58-14-33 - Additional provisions of contract.
Section 58-14-34 - Handling of reinsurer.
Section 58-14-35 - Restrictions on agent.
Section 58-14-37 - Examination of agent or broker--Cost.
Section 58-14-38 - Penalty for violation.
Section 58-14-39 - Rights of third party.
Section 58-14-40 - Adoption of rules.
Section 58-14-41 - Compliance with and application of §§ 58-14-24 to 58-14-42.
Section 58-14-42 - Qualified United States financial institution.
Section 58-14-43 - Restrictions on brokers connected to a firm or association.