PocketLaw | South Dakota Codified Laws | Authority To Transact

Authority To Transact Insurance In State

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Certificate of authority required for transaction of insurance business--Exceptions--Violation as misdemeanor.

Solicitation of insurance or transacting business in another state by insurer in this state without certificate of authority prohibited--Misdemeanor.

Preemption of field of insurance regulation by state--Licensing by political subdivisions prohibited.

Activities excepted from certificate of authority requirements.

Foreign insurer--Investments in state without a certificate of authority.

Eligibility of insurer for certificate of authority.

Eligibility of insurer for certificate of authority--Necessity for maintenance of required reserves.

Denial of authority to engage in business when contrary to public interest--Denial when managed by unqualified personnel--Affiliates.

Continuance of authorization of prior authorized mutual and stock insurers--Participating policyholders--Quorum--Proxies--Issuance of nonvoting participating policies.

Section
58-6-10

Governmentally owned insurers prohibited--Exceptions.

Section
58-6-11

Readmission to state as an authorized insurer--Requirements--Payment of back premium taxes.

Section
58-6-12

Unauthorized insurers--Application of insurer violating insurance laws for authority to transact insurance in state--Payment of back premium taxes.

Section
58-6-13

Foreign insurance companies--Compliance with requirements for admission to do business in state--Waiver.

Section
58-6-14

Use of deceptively similar name prohibited.

Section
58-6-15

Use of deceptively similar name by life insurer prohibited for ten years.

Section
58-6-16

Use of name deceptively similar to name of foreign insurer prohibited.

Section
58-6-17

Name tending to deceive or mislead as to type of organization of insurer prohibited.

Section
58-6-18

Prevention of confusing similarity of names by director.

Section
58-6-19

Combination of insuring power of one insurer--Exception.

Section
58-6-20

Life insurer--Kinds of business authorized, exception.

Section
58-6-21

Reciprocal insurer--Transaction of life or title insurance prohibited.

Section
58-6-22

Title insurer--Transaction of other insurance prohibited.

Section
58-6-23

Paid-in capital and surplus requirements for certificate of authority.

Section
58-6-24

Determination of capital and surplus requirements for certificate of authority.

Section
58-6-25

Additional types of insurance--Request for authority to transact within three years after issuance of initial certificate--Basic surplus or additional surplus required.

Section
58-6-26

Surplus to qualify to transact one or more kinds of insurance by domestic mutual and reciprocal insurers--Laws governing.

Section
58-6-27

Continuation of authority of insurer holding prior certificate--Maintenance of capital stock or surplus requirements.

Section
58-6-28

Additional kinds of insurance authorized for insurer holding prior certificate--Capital and surplus requirements.

Section
58-6-29

Annuities--Granting by life insurer without additional capital or surplus.

Section
58-6-30

Health insurer issuing insurance against congenital defects without additional capital or surplus.

Section
58-6-31

Casualty insurer transacting health insurance without additional capital or surplus.

Section
58-6-32

Property insurer including additional kinds of insurance without additional capital or surplus.

Section
58-6-33

Deposit by all insurers--Exceptions.

Section
58-6-34

Deposits through director--Purpose--Amounts required--Deposits in other states in lieu of deposit with director.

Section
58-6-35

Deposits of foreign or alien insurers in another state--Quality of cash or securities.

Section
58-6-36

Deposit of title insurer--Amount required.

Section
58-6-37

Deposit of title insurer as guaranty fund--Purpose.

Section
58-6-38

Application for initial certificate of authority--Documents accompanying.

Section
58-6-39

Service of process through director.

Section
58-6-40

Time for approval or disapproval of original certificate--Extension--Failure to disapprove deemed approval.

Section
58-6-41

Kinds of insurance specified in certificate--Limitations within class.

Section
58-6-42

Annual reissuance of certificate not required--Annual renewal fee--Expiration of certificate.

Section
58-6-43

Foreign insurer exempt from foreign corporation laws.

Section
58-6-44

Refusal to renew or suspension or revocation of certificate, grounds.

Section
58-6-45

Hearing required on refusal to issue, suspension or revocation of certificate.

Section
58-6-46

Grounds for refusal to renew, suspension, or revocation of certificate.

Section
58-6-47

Suspension or revocation of certificate after hearing, grounds.

Section
58-6-48

Suspension of certificate on commencement of delinquency proceedings.

Section
58-6-49

Order of suspension, revocation, or refusal to renew certificate--Replacement of policies.

Section
58-6-50

Notice to insurance producers of suspension, revocation, or refusal to renew certificate--Insurance Producers' authority.

Section
58-6-51

Publication of notice of suspension, revocation, or refusal to renew certificate of authority.

Section
58-6-52

Duration of suspension of certificate of authority--Rescission or shortening.

Section
58-6-53

Rights and obligations of insurer during suspension.

Section
58-6-54

Reinstatement of certificate of authority which has not terminated where cause for suspension no longer exists.

Section
58-6-55

Reinstatement of authority of insurance producers--Notice to insurer and insurance producers.

Section
58-6-56

Suspension, revocation, or refusal to renew certificate because of deficiency of assets or impairment of capital or surplus--Cessation of business in state.

Section
58-6-57

Failure to notify or continuation of business after notice as felony.

Section
58-6-58

Impairment of assets, capital, or surplus--Suspension, revocation, or refusal to renew certificate of authority--Rehabilitator or receiver of insurer not required to notify agents.

Section
58-6-59

Liability of officers and directors of impaired insurers.

Section
58-6-60

Notice to insurer and insurance producers of refusal, suspension, or revocation of certificate.

Section
58-6-61

Suspension or revocation of authority of insurance producers--Notice by director.

Sections
58-6-62 - to 58-6-64

Repealed.

Section
58-6-65

58-6-66. Repealed.

Section
58-6-67

Contract not invalidated by violation of countersignature requirements.

Section
58-6-68

Insurers subject to taxation--Filing of returns and reports--Exemption of qualified pension, annuity, or profit-sharing plans.

Section
58-6-69

Report and payment of tax by surplus line brokers.

Section
58-6-70

Retaliatory tax provisions--Exception.

Section
58-6-71

Exemption from retaliatory tax provisions.

Section
58-6-72

Domicile of alien insurer for retaliatory tax purposes.

Section
58-6-73

Domicile of Canadian insurer for retaliatory tax purposes.

Section
58-6-74

Dissolution or retirement of insurer during year--Filing of reports and collection of taxes not defeated.

Section
58-6-75

Annual and quarterly statement of financial condition of insurer--Filing with director--Form and contents--Timeliness of filing.

Section
58-6-76

Summary of statement of financial condition of insurer--Publication by director.

Section
58-6-77

Time for publication of summary statement by director--Publication in judicial circuits.

Section
58-6-78

Director to supply summary statement to each legal newspaper published in each judicial circuit--Recognition of legal newspaper.

Section
58-6-79

Publication requirements do not apply to fraternal or benevolent life association transactions nor to mutual insurance companies or associations.

Section
58-6-80

Confidentiality of analysis ratios and examination synopses--Participation in regulatory information system.