South Dakota Codified Laws
Chapter 05A - Insurance Holding Companies
Section 58-5A-80.8 - Promulgation of rules.

South Dakota Codified Laws

Title 58 - Insurance

Chapter 05A - Insurance Holding Companies

Section 58-5A-1 - Definitions.

Section 58-5A-2 - "Domestic insurer" defined.

Section 58-5A-3 - Acquisition of control of or merger with domestic insurer--Information statement required--Approval by director required--Violation as misdemeanor.

Section 58-5A-3.1 - Divestiture of controlling interest in domestic insurer--Notice to director and insurer.

Section 58-5A-4 - Contents of information statement--Violation as misdemeanor.

Section 58-5A-5 - Information statement required of partners or members of syndicate or group--Violation as misdemeanor.

Section 58-5A-6 - Information required of corporations, officers, directors and certain owners of voting securities--Violation as misdemeanor.

Section 58-5A-7 - Amendment of information statement--Violation as misdemeanor.

Section 58-5A-8 - Federal or state registration statements utilized in furnishing information.

Section 58-5A-9 - Approval by director of acquisition or merger--Grounds for disapproval.

Section 58-5A-9.1 - Disapproval of dividends or distributions for violation--Order of supervision.

Section 58-5A-10 - Time of hearing--Notice.

Section 58-5A-10.1 - Request for public hearing on consolidated basis.

Section 58-5A-11 - Procedure at hearing--Evidence admissible.

Section 58-5A-11.1 - Cost of hearing officer--Retention of various experts at acquiring person's expense.

Section 58-5A-12 - Time for director's determination after hearing.

Section 58-5A-13 - Statements and notices mailed to shareholders--Expenses of mailing--Security required.

Section 58-5A-15 - Mergers and consolidations exempt from information and approval requirements.

Section 58-5A-16 - Acquisitions exempt from information and approval requirements by order of director.

Section 58-5A-18 - Acquisition, divestiture, or merger without approval as misdemeanor.

Section 58-5A-19 - Jurisdiction of court in Hughes County--Director as attorney for service of process.

Section 58-5A-20 - Registration of subsidiary insurer--Time for registration--Statement required of foreign insurer.

Section 58-5A-21 - Form and contents of registration statement.

Section 58-5A-22 - Initial and annual registration fees.

Section 58-5A-23 - Disclosure of immaterial information not required.

Section 58-5A-24 - Report of changes required of registered insurer.

Section 58-5A-25 - Termination of registration.

Section 58-5A-26 - Consolidated registration statement or report by affiliated insurers.

Section 58-5A-27 - Registration by insurer on behalf of affiliated insurer.

Section 58-5A-28 - Insurer exempt from registration requirements on order of director.

Section 58-5A-29 - Disclaimer of affiliation--Contents--Procedure on disallowance.

Section 58-5A-29.1 - Annual enterprise risk report.

Section 58-5A-30 - Failure to file registration statement or enterprise risk report--Penalty--Waiver.

Section 58-5A-31 - Registration requirements satisfied by duplicate copies of federal filings.

Section 58-5A-32 - Standards for material transactions by registered insurers with affiliates--Nonconformity.

Section 58-5A-34 - Adequacy of insurer's surplus--Factors considered.

Section 58-5A-35 - Notice to director of extraordinary distribution--Approval by director.

Section 58-5A-36 - Application for approval of extraordinary distribution--Contents.

Section 58-5A-37 - Examination of insurers and affiliates.

Section 58-5A-38 - Grounds for director's examination.

Section 58-5A-38.1 - Production of records, books, and other information.

Section 58-5A-38.2 - Examination of registered insurer's affiliates to obtain information.

Section 58-5A-39 - Personnel employed by department for conduct of examination.

Section 58-5A-40 - Insurer to pay expense of examination.

Section 58-5A-41 - Confidentiality of information in possession or control of Division--Use in regulatory or legal action--Grounds for publication by director.

Section 58-5A-41.1 - Testimony in private civil action concerning confidential information prohibited.

Section 58-5A-41.2 - Certain sharing of confidential information permitted.

Section 58-5A-41.3 - Agreements regarding sharing of confidential information.

Section 58-5A-41.4 - Information in possession or control of NAIC confidential.

Section 58-5A-41.5 - Confidentiality not waived by disclosure of information.

Section 58-5A-43 - Acquisition of subsidiaries--Limitations.

Section 58-5A-44 - Disposition of investment in subsidiary upon cessation of control--Waiver.

Section 58-5A-45 - Pre-acquisition notification--"Person" defined.

Section 58-5A-46 - "Acquisition" and "Involved insurer" defined--Limited application.

Section 58-5A-47 - Application of §§ 58-5A-46 to 58-5A-53--Exceptions.

Section 58-5A-48 - Pre-acquisition notification--Contents--Waiting period.

Section 58-5A-49 - Action by director when acquisition lessens competition--Promulgation of rules establishing competitive standards.

Section 58-5A-50 - Acquisitions subject to order under § 58-5A-69.

Section 58-5A-51 - Plan for limiting anticompetitive impact of acquisition--Time limit.

Section 58-5A-52 - Fine, suspension, or revocation for violation of cease and desist order.

Section 58-5A-53 - Failure to comply with filing requirements--Fine.

Section 58-5A-54 - Report of dividends and distributions to shareholders--Time limit.

Section 58-5A-55 - Persons subject to registration to provide complete and accurate information to insurer.

Section 58-5A-56 - Notification to director of certain transactions required.

Section 58-5A-57 - Transactions entered into to avoid director's review prohibited.

Section 58-5A-58 - Considerations in decision to approve or disapprove transactions.

Section 58-5A-59 - Notification to director of certain investments into one corporation.

Section 58-5A-60 - Certain securities not to be voted at shareholder's meeting--Application for injunction.

Section 58-5A-61 - Petition to seize or sequester voting securities acquired in violation of chapter.

Section 58-5A-62 - Violations by officers subject to fine--Determining amount of fine.

Section 58-5A-63 - Transactions or contracts entered into without approval--Cease and desist order by director.

Section 58-5A-64 - Criminal proceedings for violation committed knowingly--Fine.

Section 58-5A-65 - False statements, reports, or filings as felony.

Section 58-5A-66 - Order for conservation, liquidation, or rehabilitation--Distribution and recovery--Liability.

Section 58-5A-67 - Suspension, revocation, or refusal to renew license for violation.

Section 58-5A-68 - Stay of director's action upon appeal to circuit court.

Section 58-5A-69 - Order by director upon violation of standards--Cease and desist--Denial of license.

Section 58-5A-70 - Promulgation of rules by director.

Section 58-5A-71 - Application of §§ 58-5A-60 and 58-5A-61.

Section 58-5A-72 - Ownership situs of voting securities.

Section 58-5A-73 - Additional investments by domestic insurer.

Section 58-5A-74 - Determining whether investments meet applicable requirements.

Section 58-5A-75 - Investments subject to chapter 58-27.

Section 58-5A-76 - Application to insurer not a member of same holding company.

Section 58-5A-77 - Dividends paid from earned surplus--Exclusions--Promulgation of rules for ordinary dividends.

Section 58-5A-78 - Director's participation in supervisory college to determine insurer compliance.

Section 58-5A-79 - Expenses of director's participation in supervisory college.

Section 58-5A-80 - Director's participation in supervisory college with other regulators.

Section 58-5A-80.1 - Internationally active insurance group--Supervision.

Section 58-5A-80.2 - International active insurance group--Group-wide supervisor determination.

Section 58-5A-80.3 - Internationally active insurance group--Group-wide supervisor acknowledgment.

Section 58-5A-80.4 - Group-wide supervisor--Information for determination.

Section 58-5A-80.5 - Group-wide supervisor--Director supervision--Permitted activities.

Section 58-5A-80.6 - Group-wide supervisor--Director cooperation.

Section 58-5A-80.7 - Information sharing.

Section 58-5A-80.8 - Promulgation of rules.

Section 58-5A-80.9 - Reasonable expenses.

Section 58-5A-81 - Maintenance of risk management framework.

Section 58-5A-82 - Regular conduct of ORSA.

Section 58-5A-83 - Submission of ORSA summary report or comparable reports to division.

Section 58-5A-84 - ORSA summary report requirements.

Section 58-5A-85 - Exemption from requirements.

Section 58-5A-86 - Requirements where insurer or insurer's group does not qualify for exemption.

Section 58-5A-87 - Insurer's application for waiver.

Section 58-5A-88 - One year period to comply with requirements following loss of qualification for exemption.

Section 58-5A-89 - Conditions under which director may require maintenance of risk management framework, conduct of ORSA, and filing of ORSA summary report.

Section 58-5A-90 - Confidentiality of information submitted to division.

Section 58-5A-91 - Powers and duties of director regarding ORSA.

Section 58-5A-92 - Sharing of information and documents by director--Confidentiality.

Section 58-5A-93 - Promulgation of rules regarding ORSA.