If a domestic insurer, including any person controlling a domestic insurer, is proposing a merger or acquisition pursuant to SDCL 58-5A-3, that person shall file a pre-acquisition notification form, Form E. Additionally, if a non-domiciliary insurer licensed to do business in this state is proposing a merger or acquisition, that person shall file a pre-acquisition notification form, Form E. No pre-acquisition notification form need be filed if the acquisition is beyond the scope of SDCL 58-5A-47. In addition to the information required by Form E, the director may hire a consultant for expert opinion as to the competitive impact of the proposed acquisition.

Source: 42 SDR 83, effective December 3, 2015.

General Authority: SDCL 58-5A-70.

Law Implemented: SDCL 58-5A-45 , 58-5A-48 , 58-5A-70.