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South Dakota Codified Laws
Title 58
Chapter 58-5A
S.D. Codified Laws ch. 58-5A
Insurance Holding Companies
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58-5A-1
Definitions.
58-5A-2
"Domestic insurer" defined.
58-5A-3
Acquisition of control of or merger with domestic insurer--Information statement required--Approval by director required--Violation as misdemeanor.
58-5A-3.1
Divestiture of controlling interest in domestic insurer--Notice to director and insurer.
58-5A-4
Contents of information statement--Violation as misdemeanor.
58-5A-5
Information statement required of partners or members of syndicate or group--Violation as misdemeanor.
58-5A-6
Information required of corporations, officers, directors and certain owners of voting securities--Violation as misdemeanor.
58-5A-7
Amendment of information statement--Violation as misdemeanor.
58-5A-8
Federal or state registration statements utilized in furnishing information.
58-5A-9
Approval by director of acquisition or merger--Grounds for disapproval.
58-5A-9.1
Disapproval of dividends or distributions for violation--Order of supervision.
58-5A-10
Time of hearing--Notice.
58-5A-10.1
Request for public hearing on consolidated basis.
58-5A-11
Procedure at hearing--Evidence admissible.
58-5A-11.1
Cost of hearing officer--Retention of various experts at acquiring person's expense.
58-5A-12
Time for director's determination after hearing.
58-5A-13
Statements and notices mailed to shareholders--Expenses of mailing--Security required.
58-5A-14
Repealed
Repealed
58-5A-15
Mergers and consolidations exempt from information and approval requirements.
58-5A-16
Acquisitions exempt from information and approval requirements by order of director.
58-5A-17
Repealed
Repealed
58-5A-18
Acquisition, divestiture, or merger without approval as misdemeanor.
58-5A-19
Jurisdiction of court in Hughes County--Director as attorney for service of process.
58-5A-20
Registration of subsidiary insurer--Time for registration--Statement required of foreign insurer.
58-5A-21
Form and contents of registration statement.
58-5A-22
Initial and annual registration fees.
58-5A-23
Disclosure of immaterial information not required.
58-5A-24
Report of changes required of registered insurer.
58-5A-25
Termination of registration.
58-5A-26
Consolidated registration statement or report by affiliated insurers.
58-5A-27
Registration by insurer on behalf of affiliated insurer.
58-5A-28
Insurer exempt from registration requirements on order of director.
58-5A-29
Disclaimer of affiliation--Contents--Procedure on disallowance.
58-5A-29.1
Annual enterprise risk report.
58-5A-30
Failure to file registration statement or enterprise risk report--Penalty--Waiver.
58-5A-31
Registration requirements satisfied by duplicate copies of federal filings.
58-5A-32
Standards for material transactions by registered insurers with affiliates--Nonconformity.
58-5A-33
Repealed
Repealed
58-5A-34
Adequacy of insurer's surplus--Factors considered.
58-5A-35
Notice to director of extraordinary distribution--Approval by director.
58-5A-36
Application for approval of extraordinary distribution--Contents.
58-5A-37
Examination of insurers and affiliates.
58-5A-38
Grounds for director's examination.
58-5A-38.1
Production of records, books, and other information.
58-5A-38.2
Examination of registered insurer's affiliates to obtain information.
58-5A-39
Personnel employed by department for conduct of examination.
58-5A-40
Insurer to pay expense of examination.
58-5A-41
Confidentiality of information in possession or control of Division--Use in regulatory or legal action--Grounds for publication by director.
58-5A-41.1
Testimony in private civil action concerning confidential information prohibited.
58-5A-41.2
Certain sharing of confidential information permitted.
58-5A-41.3
Agreements regarding sharing of confidential information.
58-5A-41.4
Information in possession or control of NAIC or third-party consultant confidential.
58-5A-41.5
Confidentiality not waived by disclosure of information.
58-5A-42
Repealed
Repealed
58-5A-43
Acquisition of subsidiaries--Limitations.
58-5A-44
Disposition of investment in subsidiary upon cessation of control--Waiver.
58-5A-45
Pre-acquisition notification--"Person" defined.
58-5A-46
"Acquisition" and "Involved insurer" defined--Limited application.
58-5A-47
Application of §§ 58-5A-46 to 58-5A-53--Exceptions.
58-5A-53
Failure to comply with filing requirements--Fine.
58-5A-48
Pre-acquisition notification--Contents--Waiting period.
58-5A-49
Action by director when acquisition lessens competition--Promulgation of rules establishing competitive standards.
58-5A-50
Acquisitions subject to order under § 58-5A-69.
58-5A-69
Order by director upon violation of standards--Cease and desist--Denial of license.
58-5A-51
Plan for limiting anticompetitive impact of acquisition--Time limit.
58-5A-52
Fine, suspension, or revocation for violation of cease and desist order.
58-5A-54
Report of dividends and distributions to shareholders--Time limit.
58-5A-55
Persons subject to registration to provide complete and accurate information to insurer.
58-5A-56
Notification to director of certain transactions required.
58-5A-57
Transactions entered into to avoid director's review prohibited.
58-5A-58
Considerations in decision to approve or disapprove transactions.
58-5A-59
Notification to director of certain investments into one corporation.
58-5A-60
Certain securities not to be voted at shareholder's meeting--Application for injunction.
58-5A-61
Petition to seize or sequester voting securities acquired in violation of chapter.
58-5A-62
Violations by officers subject to fine--Determining amount of fine.
58-5A-63
Transactions or contracts entered into without approval--Cease and desist order by director.
58-5A-64
Criminal proceedings for violation committed knowingly--Fine.
58-5A-65
False statements, reports, or filings as felony.
58-5A-66
Order for conservation, liquidation, or rehabilitation--Distribution and recovery--Liability.
58-5A-67
Suspension, revocation, or refusal to renew license for violation.
58-5A-68
Stay of director's action upon appeal to circuit court.
58-5A-70
Promulgation of rules by director.
58-5A-71
Application of §§ 58-5A-60 and 58-5A-61.
58-5A-72
Ownership situs of voting securities.
58-5A-73
Additional investments by domestic insurer.
58-5A-74
Determining whether investments meet applicable requirements.
58-5A-75
Investments subject to chapter 58-27.
58-5A-76
Application to insurer not a member of same holding company.
58-5A-77
Dividends paid from earned surplus--Exclusions--Promulgation of rules for ordinary dividends.
58-5A-78
Director's participation in supervisory college to determine insurer compliance.
58-5A-79
Expenses of director's participation in supervisory college.
58-5A-80
Director's participation in supervisory college with other regulators.
58-5A-80.1
Internationally active insurance group--Supervision.
58-5A-80.2
International active insurance group--Group-wide supervisor determination.
58-5A-80.3
Internationally active insurance group--Group-wide supervisor acknowledgment.
58-5A-80.4
Group-wide supervisor--Information for determination.
58-5A-80.5
Group-wide supervisor--Director supervision--Permitted activities.
58-5A-80.6
Group-wide supervisor--Director cooperation.
58-5A-80.7
Information sharing.
58-5A-80.8
Promulgation of rules.
58-5A-80.9
Reasonable expenses.
58-5A-81
Maintenance of risk management framework.
58-5A-82
Regular conduct of ORSA.
58-5A-83
Submission of ORSA summary report or comparable reports to division.
58-5A-84
ORSA summary report requirements.
58-5A-85
Exemption from requirements.
58-5A-86
Requirements where insurer or insurer's group does not qualify for exemption.
58-5A-87
Insurer's application for waiver.
58-5A-88
One year period to comply with requirements following loss of qualification for exemption.
58-5A-89
Conditions under which director may require maintenance of risk management framework, conduct of ORSA, and filing of ORSA summary report.
58-5A-90
Confidentiality of information submitted to division.
58-5A-91
Powers and duties of director regarding ORSA.
58-5A-92
Sharing of information and documents by director--Confidentiality.
58-5A-93
Promulgation of rules regarding ORSA.
58-5A-94
Group capital calculation--Annual filing required--Promulgation of rules.
58-5A-95
Group capital calculation--Annual filing exemptions.
58-5A-96
Group capital calculation required.
58-5A-97
Liquidity stress test framework--Scope criteria--Promulgation of rules.
58-5A-98
Confidentiality of group capital calculation and liquidity stress test.
58-5A-99
Insurer disclosure of certain confidential information permitted--Response to false or inappropriate statements.
58-5A-100
Deposit or bond required for insurer in hazardous financial condition.
58-5A-101
Insurer records and data held by affiliate--Property of insurer.
58-5A-102
Premiums--Property of insurer.
58-5A-103
Affiliate of certain domestic insurers--Jurisdiction of insurer's appointees.