The lead state director or commissioner may accept a limited group capital filing, in lieu of the group capital calculation, if:

1. (1) The insurance holding company system has annual direct written and unaffiliated assumed premium, including international direct and assumed premium, but excluding premiums reinsured with the Federal Crop Insurance Corporation and Federal Flood Program, of less than one billion dollars; and the insurance holding company system:

   1. (a) Has no insurers within its holding company structure that are domiciled outside of the United States or territories thereof;
   2. (b) Does not include a banking, depository, or other financial entity that is subject to an identified regulatory capital framework; and
   3. (c) Attests that there are no material changes in transactions between insurers and non-insurers in the group that have occurred since the last filing of the report to the lead state director or commissioner and the non-insurers within the holding company system do not pose a material financial risk to the insurer’s ability to honor policyholder obligations.

Source: 50 SDR 157, effective July 1, 2024 .

General Authority: SDCL 58-5A-94 , 58-5A-95 .

Law Implemented: SDCL 58-5A-94 , 58-5A-95 .