58-29D-4. Written agreement between administrator and insurer.
No administrator may act as such without a written agreement between the administrator and the insurer, and such written agreement shall be retained as part of the official records of both the insurer and the administrator for the duration of the agreement and for five years thereafter. The agreement shall contain all provisions required by this chapter, except insofar as those requirements do not apply to the functions performed by the administrator.
Source: SL 1992, ch 352, ยง4.
Structure South Dakota Codified Laws
Chapter 29D - Regulation Of Life And Health Administrators
Section 58-29D-1 - Definition of terms.
Section 58-29D-2 - Administrator defined--Exceptions.
Section 58-29D-3 - Insurer defined.
Section 58-29D-4 - Written agreement between administrator and insurer.
Section 58-29D-5 - Provisions of written agreement.
Section 58-29D-6 - Termination of written agreement--Suspension of underwriting authority--Dispute.
Section 58-29D-8 - Recordkeeping by administrator.
Section 58-29D-9 - Director's access to administrator's records--Confidentiality.
Section 58-29D-10 - Insurer's ownership of administrator's records.
Section 58-29D-11 - Transfer of records to new administrator.
Section 58-29D-12 - Advertising--Approval of insurer.
Section 58-29D-14 - Fiduciary capacity of administrator--Accounting of underwriting transactions.
Section 58-29D-15 - Records of deposits and withdrawals from fiduciary account.
Section 58-29D-16 - Provisions in written agreement as to withdrawals from fiduciary account.
Section 58-29D-18 - Compensation of administrator.
Section 58-29D-20 - Delivery of written communications from insurer.
Section 58-29D-21 - Administrator's license or registration required.
Section 58-29D-22 - Application by administrator--Contents--Fee.
Section 58-29D-22.1 - Annual financial statement--Contents of application--Required audit.
Section 58-29D-23 - Inspection of applicant's contracts.
Section 58-29D-24 - Denial of license.
Section 58-29D-25 - Validity of license.
Section 58-29D-26 - Conditions not requiring license.
Section 58-29D-27 - Servicer of certain employee benefit plans--Exempt from licensure--Requirements.
Section 58-29D-28 - Notice of administrator's change in circumstance.
Section 58-29D-29 - Waiver of application requirements.
Section 58-29D-30 - Annual renewal of administrator--Fee--Lapse of license or registration.
Section 58-29D-31 - Grounds for denial, suspension, or revocation of license or registration.
Section 58-29D-32 - Immediate suspension of license--No notice required.
Section 58-29D-33 - Money penalty in lieu of suspension or revocation.