58-6A-16.1. Exemptions for purchasing group and insurer in regard to liability insurance--Subject to other laws.
A purchasing group and its insurer or insurers are subject to all applicable laws of this state, except that a purchasing group and its insurer or insurers are exempt, in regard to liability insurance for the purchasing group, from any law that would:
(1)Prohibit the establishment of a purchasing group;
(2)Make it unlawful for an insurer to provide or offer to provide insurance on a basis providing advantages to a purchasing group or its members based on their loss and expense experience, which coverage is not afforded to other persons with respect to rates, policy forms, coverages, or other matters;
(3)Prohibit a purchasing group or its members from purchasing insurance on a group basis as described in subdivision (2) of this section;
(4)Prohibit a purchasing group from obtaining insurance on a group basis because the group has not been in existence for a minimum period of time or because any member has not belonged to the group for a minimum period of time;
(5)Require that a purchasing group shall have a minimum number of members, common ownership or affiliation, or certain legal form;
(6)Require that a certain percentage of a purchasing group shall obtain insurance on a group basis;
(7)Otherwise discriminate against a purchasing group or any of its members; or
(8)Require that any insurance policy issued to a purchasing group or any of its members be countersigned by an insurance producer residing in this state.
Source: SL 1988, ch 392, §4; SL 2001, ch 286, §91.
Structure South Dakota Codified Laws
Chapter 06A - Risk Retention Groups
Section 58-6A-1 - Definition of terms.
Section 58-6A-3 - Information submitted to director.
Section 58-6A-3.2 - Criteria of material relationship.
Section 58-6A-3.3 - Material service provider contracts.
Section 58-6A-3.5 - Written policy in plan of operation.
Section 58-6A-3.6 - Members of audit committee.
Section 58-6A-3.7 - Purpose of audit committee.
Section 58-6A-3.8 - Waiver of audit committee requirement.
Section 58-6A-3.9 - Governance standards.
Section 58-6A-3.10 - Code of business conduct and ethics.
Section 58-6A-3.11 - Notice to director of noncompliance with standards.
Section 58-6A-3.12 - Application of §§ 58-6A-1 to 58-6A-3.11.
Section 58-6A-4 - Financial information submitted to director.
Section 58-6A-5.1 - Rate of taxation on premiums--Interest, fines and penalties--Payment.
Section 58-6A-6 - Compliance with Unfair Trade Practices Act.
Section 58-6A-8 - Examination by director.
Section 58-6A-9 - Notice contained on policy--Contents.
Section 58-6A-10 - Prohibited acts by risk retention group.
Section 58-6A-11 - Insurance company as member or owner.
Section 58-6A-14 - Countersignature on policy not required.
Section 58-6A-15 - Prohibited insurance coverage.
Section 58-6A-17 - Notice to director--Contents.
Section 58-6A-17.1 - Notice to director of changes.
Section 58-6A-17.2 - Information required by director--Time for giving notice and information.
Section 58-6A-18 - Designation of director as agent for purchasing group--Exceptions.
Section 58-6A-20 - Director's use of enforcement powers--Injunctive authority.
Section 58-6A-21 - Penalty for violation.
Section 58-6A-22 - Broker license--Waiver of residency requirements.