58-44-3. Application of chapter based on gross written premium on business placed with controlled insurer.
The provisions of this chapter apply if, in any calendar year, the aggregate amount of gross written premium on business placed with a controlled insurer by a controlling broker is equal to or greater than five percent of the admitted assets of the controlled insurer, as reported in the controlled insurers' quarterly statement filed as of September thirtieth of the prior year.
Source: SL 1992, ch 358, ยง3.
Structure South Dakota Codified Laws
Chapter 44 - Broker Controlled Property And Casualty Insurance
Section 58-44-1 - Definition of terms.
Section 58-44-2 - Application of chapter to licensed insurers--Application of chapter 58-5A.
Section 58-44-4 - Chapter not applicable under certain circumstances.
Section 58-44-5 - Written contract required--Provisions.
Section 58-44-6 - Audit committee of controlled insurer--Annual meeting.
Section 58-44-7 - Annual report of loss ratios and loss reserves.
Section 58-44-8 - Notice from controlling broker to prospective insured--Subbroker.
Section 58-44-9 - Consequences of noncompliance with chapter--Civil action by director.
Section 58-44-11 - Rights of director to impose penalties.
Section 58-44-12 - Rights of third parties.
Section 58-44-13 - Time limit for compliance.
Section 58-44-14 - Disapproval of contract between controlling broker and controlled insurer.