58-46-21. Ceding or taking credit for reserves.
Any captive insurance company may take credit for reserves on risks or portions of risks ceded to reinsurers complying with provisions of chapter 58-14 or 58-46. Prior approval of the director shall be required for ceding or taking credit for reserves on risks or portions of risks ceded to reinsurers not complying with chapter 58-14 or 58-46.
Source: SL 1996, ch 287, §21; SL 2013, ch 257, §18.
Structure South Dakota Codified Laws
Chapter 46 - Captive Insurance Companies
Section 58-46-1 - Definition of terms.
Section 58-46-3 - Requirements for doing business.
Section 58-46-4 - Filing requirements.
Section 58-46-5 - Additional filing requirements.
Section 58-46-6 - Examination, investigation, and processing of application_Fees.
Section 58-46-7 - Issuance of certificate of authority.
Section 58-46-8 - Capital and surplus requirements.
Section 58-46-9 - Dividends and distributions.
Section 58-46-10 - Forms of incorporation.
Section 58-46-11 - Organizers.
Section 58-46-12 - Governing board.
Section 58-46-13 - Privileges--Applicable law.
Section 58-46-14 - Acquisitions, mergers and consolidation procedures.
Section 58-46-15 - Financial condition reporting--Independent audit.
Section 58-46-16 - Alternative reporting date.
Section 58-46-17 - Review of company financial condition--Compliance.
Section 58-46-18 - Suspension or revocation of certificate of authority by director.
Section 58-46-19 - Allowable investments--Restrictions.
Section 58-46-20 - Loan to parent or affiliated entity.
Section 58-46-21 - Ceding or taking credit for reserves.
Section 58-46-22 - Rating organization.
Section 58-46-23.1 - Risk management services.
Section 58-46-23.2 - Prohibited insurance risks.
Section 58-46-24 - Annual supervision fee.
Section 58-46-25 - Application of chapter 58-29B.
Section 58-46-26 - Application of Title 58.
Section 58-46-27 - Sponsored captive insurance may establish protected cells--Conditions.
Section 58-46-28 - Sponsor of sponsored captive insurance company.
Section 58-46-29 - Participant in sponsored captive insurance company.
Section 58-46-30 - Combination of assets of protected cells for purposes of investment.
Section 58-46-31 - Form of application--Confidentiality of information.