58-34-53. Determination of financial condition--Rules applied by director.
In determining the financial condition of a reciprocal insurer the director shall apply the rules set forth in §§58-34-54 to 58-34-60, inclusive.
Source: SL 1966, ch 111, ch 19, §18.
Structure South Dakota Codified Laws
Chapter 34 - Reciprocal Insurers
Section 58-34-1 - Reciprocal insurance defined.
Section 58-34-2 - Reciprocal insurer defined.
Section 58-34-3 - Attorney defined.
Section 58-34-4 - Application of chapter to foreign reciprocal insurers.
Section 58-34-5 - Compliance required of existing insurers.
Section 58-34-6 - Organization of insurer--Number of persons required.
Section 58-34-7 - Application for certificate of authority--Execution and filing--Contents.
Section 58-34-8 - Bond of attorney in fact--Filing with and approval by director.
Section 58-34-9 - Amount and conditions of bond.
Section 58-34-10 - Advance notice of cancellation of bond.
Section 58-34-11 - Deposit in lieu of bond.
Section 58-34-12 - Action on bond or to recover against deposit.
Section 58-34-13 - Business name of insurer--Use in suits by and against.
Section 58-34-14 - Surplus funds of domestic reciprocal insurer--Amounts required.
Section 58-34-15 - Additional expendable surplus required of new insurer.
Section 58-34-16 - Additional kinds of insurance transacted--Minimum amount of surplus funds.
Section 58-34-17 - Surplus funds of existing insurers--Laws governing.
Section 58-34-18 - Issuance of certificate of authority.
Section 58-34-19 - Refusal, suspension, or revocation of certificate of authority--Grounds.
Section 58-34-20 - Rights and powers of attorney provided by subscribers' agreement.
Section 58-34-21 - Power of attorney--Form and contents.
Section 58-34-22 - Power of attorney--Terms--Approval by director.
Section 58-34-23 - Service of legal process upon domestic insurer.
Section 58-34-24 - Liability of subscribers for judgment against insurer--Service of legal process.
Section 58-34-25 - Eligibility to become subscriber.
Section 58-34-26 - Authority of corporation to exchange insurance contracts.
Section 58-34-27 - Representatives of subscribers not liable on contract.
Section 58-34-28 - Advisory committee representing subscribers--Selection.
Section 58-34-29 - Advisory committee--Qualifications of members.
Section 58-34-30 - Powers of advisory committee.
Section 58-34-31 - Modification of subscribers' agreement or power of attorney.
Section 58-34-32 - Kinds of business transacted--Life or title insurance excepted.
Section 58-34-33 - Reinsurance authorized.
Section 58-34-34 - Advance of funds to insurer.
Section 58-34-35 - Liability of subscribers several and proportionate.
Section 58-34-36 - Contingent assessment liability of subscriber.
Section 58-34-37 - Contingent liability stated in assessable policy.
Section 58-34-38 - Assessments against subscribers--Authority for levy.
Section 58-34-39 - Computation of amounts of assessments--Ratio of deficiency to premiums earned.
Section 58-34-40 - Earned premiums, computation for purpose of assessments.
Section 58-34-41 - Offset of claim for unearned premium against assessment prohibited.
Section 58-34-42 - Time limit for levy of assessment.
Section 58-34-43 - Aggregate liability of subscriber--Maximum in one year.
Section 58-34-44 - Subscriber not liable until final judgment against insurer.
Section 58-34-45 - Limited liability of subscriber on judgment.
Section 58-34-49 - Savings--Distribution to subscribers.
Section 58-34-50 - Liquidation--Distribution of remaining assets to subscribers.
Section 58-34-51 - Annual statement of insurer--Filing.
Section 58-34-52 - Annual statement--Supplemental information required by director.
Section 58-34-53 - Determination of financial condition--Rules applied by director.
Section 58-34-54 - Premium deposits as assets.
Section 58-34-55 - Surplus deposits--Allowance as assets.
Section 58-34-56 - Uncollected assessments not allowed as assets.
Section 58-34-57 - Contingent liability of subscribers not allowed as asset.
Section 58-34-58 - Reserves charged as liabilities.
Section 58-34-59 - Computation of reserves.
Section 58-34-60 - Surplus deposits of subscribers not a liability.
Section 58-34-61 - Merger or conversion prohibited.
Section 58-34-62 - Impairment of surplus--Deficiency to be made up.
Section 58-34-63 - Failure to make up deficiency--Insurer deemed insolvent.
Section 58-34-64 - Liquidation of insurer ordered--Levy of assessment against subscribers.