Risk Retention Groups

  1. Law
  2. South Dakota Codified Laws
  3. Insurance
  4. Risk Retention Groups

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Section
58-6A-1

Definition of terms.

Section
58-6A-2

Charter and license of risk retention group--Approval of plan of operation or feasibility study--Revision of plan or study--Notice to National Association of Insurance Commissioners.

Section
58-6A-3

Information submitted to director.

Section
58-6A-3.1

Majority of risk retention group directors to be independent--Board determinations as to material relationship.

Section
58-6A-3.2

Criteria of material relationship.

Section
58-6A-3.3

Material service provider contracts.

Section
58-6A-3.4

Notice to director of intent to enter into service provider contract meeting criteria of material relationship.

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

Taxation of premiums--Payment by insurance producers or brokers--Payment by risk retention group--Report of premiums.

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-7

Compliance with laws regarding deceptive, false, or fraudulent acts or practices--Injunction.

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-12

Compliance with voluntary dissolution or delinquency order by group not chartered if financially impaired.

Section
58-6A-13

Financial contribution to or benefit from insurance insolvency guaranty fund prohibited.

Section
58-6A-14

Countersignature on policy not required.

Section
58-6A-15

Prohibited insurance coverage.

Section
58-6A-16

58-6A-16.Repealed by SL 1988, ch 392, §3

Section
58-6A-16.1

Exemptions for purchasing group and insurer in regard to liability insurance--Subject to other laws.

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-19

58-6A-19.Repealed by SL 1988, ch 392, §8

Section
58-6A-19.1

Purchase from risk retention group not chartered or insurer not admitted in state prohibited--Exception.

Section
58-6A-19.2

Notice of unprotected risk when liability insurance obtained from insurer not admitted in this state or risk retention group.

Section
58-6A-19.3

Purchase of insurance providing for deductible or self-induced retention applicable to whole group prohibited--Application to individuals allowed--Aggregate limits standards.

Section
58-6A-19.4

Insurance producer or broker license required for purchasing liability insurance from risk retention group.

Section
58-6A-19.5

Insurance producer or broker license required to solicit liability insurance for purchasing group from insurer or risk retention group.

Section
58-6A-19.6

Insurance producer or broker license required to solicit liability insurance for member of purchasing group.

Section
58-6A-19.7

Surplus lines producer or excess line producer license required to solicit liability insurance from unauthorized insurer for purchasing group.

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.

Section
58-6A-23

Enforcement of injunction against risk retention group in hazardous financial condition.

Section
58-6A-24

Promulgation of rules.