58-6A-4. Financial information submitted to director.
Any risk retention group doing business in this state shall submit to the director:
(1)A copy of the group's financial statement submitted to its state of domicile, which shall be certified by an independent public accountant and contain a statement of opinion on loss and loss adjustment expense reserves made by a member of the American Academy of Actuaries or a qualified loss reserve specialist under criteria established by the National Association of Insurance Commissioners;
(2)A copy of each examination of the risk retention group as certified by the director or public official conducting the examination;
(3)Upon request by the director, a copy of any audit performed with respect to the risk retention group; and
(4)Such information as may be required to verify its continuing qualification as a risk retention group under this chapter.
Source: SL 1987, ch 372, §4.
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.