58-48-4. Limited scope of waiver.
The director may not grant a waiver with respect to:
(1)Any law, regulation, bulletin, or other provision not subject to the director's jurisdiction;
(2)Any requirement as to the minimum amount of paid-in capital or surplus required to be possessed or maintained by any participant as determined by the director;
(3)Chapter 58-12 concerning unfair claims practices;
(4)Chapters 58-15, 58-16, 58-28, and 58-33A concerning life insurance;
(5)Chapters 58-17, 58-18, and 58-18B concerning health insurance;
(6)Chapter 58-17B concerning long-term care insurance;
(7)Chapter 58-20 concerning workers' compensation insurance;
(8)Chapter 58-25 concerning title insurance;
(9)Chapter 58-30 concerning sales through licensed insurance producers;
(10)Sections 58-33-1 to 58-33-47, inclusive, and §§ 58-33-66 to 58-33-69, inclusive, concerning certain unfair trade practices;
(11)Any laws, regulations, or bulletins directly relating to subdivisions (3) to (10), inclusive, of this section; and
(12)The application of any taxes or fees except as provided in subdivision 58-48-5(13).
Source: SL 2021, ch 214, § 4.
Structure South Dakota Codified Laws
Chapter 48 - Insurance Innovation Waivers
Section 58-48-1 - Definitions.
Section 58-48-2 - Grounds for innovation waiver.
Section 58-48-3 - Waiver not to restrict policyholder recovery or restrict director's authority.
Section 58-48-4 - Limited scope of waiver.
Section 58-48-5 - Application for waiver--Persons excluded from waiver application.
Section 58-48-6 - Application review--Additional information required.
Section 58-48-7 - Grant or denial of waiver--Duration of waiver--Waiver deemed authority to act.
Section 58-48-8 - Conditions on innovation waiver.
Section 58-48-9 - Waiver participants--Deposit or bond.
Section 58-48-10 - Consumer disclosures--Digital disclosure receipts.
Section 58-48-11 - Public notice of granted waiver.
Section 58-48-12 - Record keeping by participants.
Section 58-48-13 - Termination of waivers.
Section 58-48-14 - Termination for failure--Termination by director.
Section 58-48-15 - No guaranty association coverage for waivers.
Section 58-48-16 - Confidentiality of waiver application and materials.