S.D. Codified Laws § 58-26-70 — SD Code / Title 58 / Chapter 26 / Section 58-26-70
Written notice of election to comply with provisions of §§58-26-64to58-26-69, inclusive--Operative date
Status: in_force

After July 1, 1973, any company may file with the director a written notice of its election to comply with the provisions of §§ 58-26-64 to 58-26-69 , inclusive, after a specified date before January 1, 1979, which is the operative date of §§ 58-26-64 to 58-26-69 , inclusive, for the company. However, if a company does not elect to comply, the operative date of §§ 58-26-64 to 58-26-69 , inclusive, for the company is January 1, 1979.

Source: SL 1995, ch 284, § 26.
S.D. Codified Laws § 58-18A-62 — SD Code / Title 58 / Chapter 18A / Section 58-18A-62
Prohibited grounds for reduction of benefits
Status: in_force

No COB provision may be used that permits a plan to reduce its benefits on the basis that:

(1) Another plan exists and the covered person did not enroll in that plan;

(2) A person is or could have been covered under another plan, except with respect to Part B of Medicare; or

(3) A person has elected an option under another plan providing a lower level of benefits than another option that could have been elected.

Source: SL 2006, ch 259, § 10.
S.D. Codified Laws § 58-6A-19.3 — SD Code / Title 58 / Chapter 6A / 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
Status: in_force

No purchasing group may purchase insurance providing for a deductible or self - insured retention applicable to the group as a whole. However, coverage may provide for a deductible or self - insured retention applicable to individual members. Any purchase of insurance by purchasing groups is subject to the same standards regarding aggregate limits which are applicable to all purchases of group insurance.

Source: SL 1988, ch 392, § 11.
S.D. Codified Laws § 58-27-86 — SD Code / Title 58 / Chapter 27 / Section 58-27-86
Approval of banking acquisition required--Considerations in determining--Conditions
Status: in_force

Any acquisition under § 58-27-85 is subject to approval by the Division of Insurance. In considering an application for approval, the division may consider whether, in the case of an insurance company, the economic advantages to the state in terms of employment and capital investment are adequate to permit approval of the application. Any approval granted to an insurance company or an insurance holding company by the division is subject to such conditions as the division deems necessary and to the division's continuing authority to ascertain the insurance company's compliance with the provisions of this section and the conditions of approval.

Source: SL 1983, ch 376, § 11.
S.D. Codified Laws § 58-18-76 — SD Code / Title 58 / Chapter 18 / Section 58-18-76
Minimum inpatient care coverage following delivery
Status: in_force

If a group health insurance policy that is issued or renewed on or after July 1, 1996, provides maternity coverage, the policy shall provide coverage for a minimum of forty - eight hours of inpatient care following a vaginal delivery and a minimum of ninety - six hours of inpatient care following delivery by cesarean section for a mother and her newborn child in a health care facility licensed pursuant to chapter 34-12 , except as otherwise provided in § 58-18-77 . Any policy issued to employers with less than fifteen employees that provides coverage for complications of pregnancy, and does not provide other maternity benefits, is not required to comply with this section.

Source: SL 1996, ch 292, § 4; SL 1998, ch 290, § 2.
S.D. Codified Laws § 58-17B-2 — SD Code / Title 58 / Chapter 17B / Section 58-17B-2
Definition of terms
Status: in_force

Terms used in this chapter mean:

(1) "Applicant,"

(a) In the case of an individual long-term care insurance policy, the person who seeks to contract for benefits; and

(b) In the case of a group long-term care insurance policy, the proposed certificate holder;

(2) "Certificate," any certificate issued under a group long-term care insurance policy, which policy has been delivered or issued for delivery in this state;

(3) "Director," the director of the Division of Insurance in this state;

(4) "Group long-term care insurance," a long-term care insurance policy which is delivered or issued for delivery in this state and issued to:

(a) One or more employers or labor organizations, or to a trust or to the trustees of a fund established by one or more employers or labor organizations, or a combination thereof, for employees or former employees or a combination thereof or for members or former members or a combination thereof, of the labor organizations; or

(b) Any professional, trade, or occupational association for its members or former or retired members, or combination thereof, if such association:

(i) Is composed of individuals all of whom are or were actively engaged in the same profession, trade or occupation; and

(ii) Has been maintained in good faith for purposes other than obtaining insurance; or

(c) An association or a trust or the trustee of a fund established, created, or maintained for the benefit of members of one or more associations. Prior to advertising, marketing, or offering such policy within this state, the association or associations, or the insurer of the association or associations, shall file evidence with the director that the association or associations have at the outset a minimum of one hundred persons and have been organized and maintained in good faith for purposes other than that of obtaining insurance; have been in active existence for at least one year; and have a constitution and bylaws which provide that:

(i) The association or associations hold regular meetings not less than annually to further purposes of the members;

(ii) Except for credit unions, the association or associations collect dues or solicit contributions from members; and

(iii) The members have voting privileges and representation on the governing board and committees.

Thirty days after such filing the association or associations will be considered to have satisfied such organizational requirements, unless the director makes a finding that the association or associations have not satisfied those organizational requirements.

(d) A group other than as described in this section subject to a finding by the director that:

(i) The issuance of the group policy is not contrary to the best interest of the public;

(ii) The issuance of the group policy would result in economies of acquisition or administration; and

(iii) The benefits are reasonable in relation to the premiums charged;

(5) "Guaranteed renewable,"

(a) The insured has the right to continue the long-term care insurance in force by the timely payment of premiums; and

(b) The insurer has no unilateral right to make any change in provisions of the policy or rider while the insurance is in force and cannot decline to renew the policy. However, rates may be revised by the insurer on a class basis subject to approval by the Division of Insurance;

(6) "Long-term care insurance," any insurance policy or rider advertised, marketed, offered, or designed to provide coverage for not less than twelve consecutive months for each covered person on an expense incurred, indemnity, prepaid, or other basis; for one or more necessary or medically necessary diagnostic, preventive, therapeutic, rehabilitative, maintenance or personal care services, provided in a setting other than an acute care unit of a hospital. Such term includes group and individual policies or riders whether issued by insurers; fraternal benefit societies; nonprofit health, hospital and medical service corporations; prepaid health plans; health maintenance organizations or any similar organization. Long-term care insurance does not include any insurance policy which is offered primarily to provide basic medicare supplement coverage, basic hospital expense coverage, basic medical-surgical expense coverage, hospital confinement, accident only coverage, specified disease or specified accident coverage or limited benefit health coverage;

(7) "Mental or nervous disorder," may not be defined more restrictively than including neurosis, psychoneurosis, psychopathy, psychosis, or mental or emotional disease or disorder. However, no policy, contract or rider may exclude or limit benefits on the basis of organic brain disease, including alzheimer's disease or senile dementia;

(8) "Policy," any policy, contract, subscriber agreement, rider, or endorsement delivered or issued for delivery in this state by an insurer; fraternal benefit society; nonprofit health, hospital, or medical service corporation; prepaid health plan; health maintenance organization or any similar organization.

Source: SL 1989, ch 440, § 2; SL 2007, ch 289, § 1.
S.D. Codified Laws § 58-34-33 — SD Code / Title 58 / Chapter 34 / Section 58-34-33
Reinsurance authorized
Status: in_force

A reciprocal insurer may purchase reinsurance, and may grant reinsurance as to any kind of insurance it is authorized to transact.

Source: SL 1966, ch 111, ch 19, § 4 (2).
S.D. Codified Laws § 58-11-1 — SD Code / Title 58 / Chapter 11 / Section 58-11-1
Premium defined
Status: in_force

Premium is the consideration for insurance by whatever name called. Any assessment, or any membership, policy, survey, inspection, service, or similar fee or other charge in consideration for an insurance contract is deemed part of the premium. However, the premium for title insurance shall be the rates filed and approved in § 58-25-7 .

Source: SL 1966, ch 111, ch 22, § 3; SL 1995, ch 66, § 2; SL 2009, ch 259, § 1; SL 2014, ch 229, § 1.
S.D. Codified Laws § 58-3-13 — SD Code / Title 58 / Chapter 3 / Section 58-3-13
Filed examination report admissible in evidence
Status: in_force

The report when so filed shall be admissible in evidence, in any action or proceeding brought by the director against the person examined, or against its officers, representatives, or insurance producers, of the facts stated therein. The director and the director's examiners may at any time testify and offer other proper evidence as to information secured during the course of an examination, whether or not a written report of the examination has at that time been either made, served, or filed in the director's office.

Source: SL 1966, ch 111, ch 2, § 20 (4); SL 2001, ch 286, § 64.
S.D. Codified Laws § 58-35-14 — SD Code / Title 58 / Chapter 35 / Section 58-35-14
Amendment of articles of incorporation
Status: in_force

A farm mutual insurer may, by a two - thirds vote of those present in person or, if authorized by the bylaws, by proxy, at any annual meeting, or at any special meeting of members called for that purpose, amend its articles of incorporation to extend its corporate existence or in any particular within the scope of this chapter, by causing amended articles to be filed in the same form and manner as required for original articles of incorporation. The amended articles of incorporation shall be signed only by the president and secretary of the corporation. Notice of the proposed amendment, or a summary of the changes to be effected thereby, shall be contained in the notice given of such annual or special meeting, and any number of amendments may be submitted to the members, and voted upon by them, at one meeting.

Source: SL 1966, ch 111, ch 17, § 10; SL 1967, ch 129, § 4.
S.D. Codified Laws § 58-16-17 — SD Code / Title 58 / Chapter 16 / Section 58-16-17
Industry fund groups--Payment of premium
Status: in_force

The premium for a policy issued under § 58-16-12 shall be paid by the trustees wholly from funds contributed by the employer or employers of the insured persons, or by the union or unions, or by both, or partly from such funds and partly from funds contributed by the insured persons. A policy on which part of the premium is to be derived from funds contributed by the insured persons specifically for their insurance may be placed in force only if at least seventy - five percent of the then eligible persons, excluding any as to whom evidence of insurability is not satisfactory to the insurer, elect to make the required contributions. A policy on which no part of the premium is to be derived from funds contributed by the insured persons specifically for their insurance must insure all eligible persons, or all except any as to whom evidence of individual insurability is not satisfactory to the insurer.

Source: SL 1966, ch 111, ch 24, § 1 (4) (c).
S.D. Codified Laws § 58-19-10 — SD Code / Title 58 / Chapter 19 / Section 58-19-10
Commencement of insurance when evidence of insurability required
Status: in_force

Where evidence of insurability is required and such evidence is furnished more than thirty days after the date when the debtor becomes obligated to the creditor, the term of credit life insurance or credit health insurance may commence on the date on which the insurance company determines the evidence to be satisfactory, and in such event there shall be an appropriate refund or adjustment of any charge to the debtor for insurance.

Source: SL 1966, ch 111, ch 27, § 5.
S.D. Codified Laws § 58-41-74 — SD Code / Title 58 / Chapter 41 / Section 58-41-74
Confidential data--Exceptions
Status: in_force

Any data or information pertaining to the diagnosis, treatment, or health of any enrollee, or any application obtained from any person, shall be confidential and shall not be disclosed to any person except:

(1) To the extent that it may be necessary to carry out the purposes of this chapter;

(2) Upon the express consent of the enrollee or applicant;

(3) Pursuant to statute or court order for the production of evidence or the discovery thereof; or

(4) In the event of a claim or litigation between such person and the provider or health maintenance organization wherein such data or information is pertinent.

Source: SL 1974, ch 321, § 36 (5).
S.D. Codified Laws § 58-17-154 — SD Code / Title 58 / Chapter 17 / Section 58-17-154
Definitions for §§58-17-155to58-17-162
Status: in_force

Terms used in §§ 58-17-155 to 58-17-162 , inclusive, mean:

(1) "Applied behavior analysis," the design, implementation, and evaluation of environmental modifications, using behavioral stimuli and consequences, to produce socially significant improvement in human behavior, including the use of direct observation, measurement, and functional analysis of the relationship between environment and behavior;

(2) "Autism spectrum disorder," a complex neurodevelopmental medical disorder characterized by social impairment, communication difficulties, and restricted, repetitive, and stereotyped patterns of behavior;

(3) "Behavioral health treatment," evidence-based interventions that:

(a) Achieve specific improvements in functional capacity of a person; and

(b) Are provided or supervised by a licensed practitioner as provided in § 58-17-159 ;

(4) "Treatment," evidence-based care which is prescribed or ordered for a person diagnosed with an autism spectrum disorder by a licensed physician or psychologist, including:

(a) Behavioral health treatment;

(b) Pharmacy care; and

(c) Therapeutic care.

Source: SL 2015, ch 250, § 1; SL 2017, ch 212, § 1, eff. Jan. 1, 2018.
S.D. Codified Laws § 58-6-52 — SD Code / Title 58 / Chapter 6 / Section 58-6-52
Duration of suspension of certificate of authority--Rescission or shortening
Status: in_force

Suspension of an insurer's certificate of authority shall be for such period as the director specifies in the order of suspension, but not to exceed one year. During the suspension the director may rescind or shorten the suspension by his further order.

Source: SL 1966, ch 111, ch 3, § 21 (1).
S.D. Codified Laws § 58-5-61 — SD Code / Title 58 / Chapter 5 / Section 58-5-61
Pecuniary interest of officer, director, committee member, or employee of domestic insurer in transactions with insurer prohibited--Misdemeanor
Status: in_force

Any officer or director, or any member of any committee or an employee of a domestic insurer who is charged with the duty of investing or handling the insurer's funds:

(1) Shall not deposit or invest such funds except in the insurer's corporate name;

(2) Shall not borrow the funds of such insurer;

(3) Shall not be pecuniarily interested in any loan, pledge of deposit, security, investments, sale, purchase, exchange, reinsurance, or other similar transaction or property of such insurer except as a stockholder or member;

(4) Shall not take or receive to his own use any fee, brokerage, commission, gift, or other consideration for or on account of any such transaction made by or on behalf of such insurer.

Violation of this section is a Class 2 misdemeanor.

Source: SL 1966, ch 111, ch 16, § 22 (1); SL 1978, ch 359, § 2.
S.D. Codified Laws § 58-22-41 — SD Code / Title 58 / Chapter 22 / Section 58-22-41
Deposit by defendant admitted to bail
Status: in_force

When the defendant has been admitted to bail, he, or another in his behalf, may deposit with an official authorized to take bail, a sum of money, or nonregistered bonds of the United States, or of the state, or of any county, municipality within the state, equal in market value to the amount of such bail, together with his personal undertaking, and an undertaking of such other person, if the money or bonds are deposited by another. Upon delivery of a certificate of such deposit to the official having custody of the defendant, he shall be discharged from custody in the cause.

Source: SL 1966, ch 111, ch 31, § 23; SL 1992, ch 60, § 2.
S.D. Codified Laws § 58-39-4 — SD Code / Title 58 / Chapter 39 / Section 58-39-4
Board of directors--Minimum number--Qualifications--Selection--Term of office
Status: in_force

The business of a dental service corporation shall be managed by a board of directors of at least five persons possessing the same general qualifications as the incorporators and selected, and the number fixed, in the manner set out by the bylaws for three - year terms. At least a majority of the directors of said corporation must be at all times dentists who have contracted, or may contract with such corporation to render to its subscribers dental service.

Source: SL 1966, ch 111, ch 30, § 4.
S.D. Codified Laws § 58-17G-3 — SD Code / Title 58 / Chapter 17G / Section 58-17G-3
Health carrier to develop and maintain systems to measure quality of services--System requirements--Description of quality assessment program to be filed with director
Status: in_force

Any health carrier that provides managed care plans shall develop and maintain the infrastructure and disclosure systems necessary to measure the quality of health care services provided to covered persons on a regular basis and appropriate to the types of plans offered by the health carrier. A health carrier shall:

(1) Utilize a system designed to assess the quality of health care provided to covered persons and appropriate to the types of plans offered by the health carrier. The system shall include systematic collection, analysis, and reporting of relevant data in accordance with statutory and regulatory requirements. The level of quality assessment activities undertaken by a health plan may vary based on the plan's structure with the least amount of quality assessment activities required being those plans which are open and the provider network is simply a discounted fee for service preferred provider organization; and

(2) File a written description of the quality assessment program with the director in the prescribed general format, which shall include a signed certification by a corporate officer of the health carrier that the filing meets the requirements of this chapter.

Source: SL 2011, ch 219, § 23.
S.D. Codified Laws § 58-33-137 — SD Code / Title 58 / Chapter 33 / Section 58-33-137
Value-added product or service--Permitted as pilot or testing program--Notice to division
Status: in_force

If an insurer or producer does not have sufficient evidence but has a good faith belief that the value-added product or service meets the criteria in subdivisions 58-33-136 (2) and (5), the insurer or producer may provide the product or service in a manner that is not unfairly discriminatory as part of a pilot or testing program for no more than one year. An insurer or producer must notify the division of such a pilot or testing program offered to consumers in this state before beginning the program and may proceed with the program unless the division objects within twenty-one days of the notice.

Source: SL 2023, ch 167, § 2.
S.D. Codified Laws § 58-7-13 — SD Code / Title 58 / Chapter 7 / Section 58-7-13
Assignment to director of securities not negotiable by delivery--Power of attorney
Status: in_force

The director shall require the insurer to either assign to the director and his successors in office all securities being deposited under this title which are not negotiable by delivery or to give the director irrevocable power of attorney authorizing the transfer of the securities or any part thereof then or thereafter on deposit for any purpose within the scope of the director's statutory powers.

Source: SL 1966, ch 111, ch 7, § 8 (1); SL 1991, ch 398, § 4.
S.D. Codified Laws § 58-11-32 — SD Code / Title 58 / Chapter 11 / Section 58-11-32
Binder provisions do not apply to life or health insurance
Status: in_force

Sections 58-11-29 to 58-11-31 , inclusive, shall not apply to life or health insurances.

Source: SL 1966, ch 111, ch 22, § 24 (4).
S.D. Codified Laws § 58-5-135 — SD Code / Title 58 / Chapter 5 / Section 58-5-135
Members of mutual insurer voting on merger or consolidation--Procedure--Limited right of members of life insurer
Status: in_force

The plan and agreement for merger or consolidation shall be submitted to and approved by at least two - thirds of the members of each mutual insurer involved voting thereon at meetings called for the purpose pursuant to such reasonable notice and procedure as has been approved by the director of the Division of Insurance. If a life insurer, right to vote may be limited to members whose policies are other than term and group policies, and have been in effect for more than one year.

Source: SL 1966, ch 111, ch 16, § 39 (3).
S.D. Codified Laws § 58-26-36 — SD Code / Title 58 / Chapter 26 / Section 58-26-36
Unearned premium reserve--Insurers required to maintain
Status: in_force

As to insurance against loss or damage to property, except as provided in § 58-26-41 , and as to all general casualty insurance and surety insurance, every insurer shall maintain an unearned premium reserve on all policies in force.

Source: SL 1966, ch 111, ch 5, § 5 (1).
S.D. Codified Laws § 58-15-107 — SD Code / Title 58 / Chapter 15 / Section 58-15-107
Promulgation of rules regarding identification and location of beneficiaries
Status: in_force

The director may promulgate rules, pursuant to chapter 1-26 , to provide definition of terms, notification requirements, exemption criteria, beneficiary searches, and forms.

Source: SL 2018, ch 280, § 14.
S.D. Codified Laws § 58-30-182 — SD Code / Title 58 / Chapter 30 / Section 58-30-182
Notification to insurance producer of termination by insurer
Status: in_force

Within fifteen days after making the notification required by §§ 58-30-180 and 58-30-181 , the insurer shall mail, or if acceptable, send by electronic means, a copy of the notification to the insurance producer at the insurance producer's last known address. If the insurance producer is terminated for any of the reasons listed in § 58-30-167 , the insurer shall provide a copy of the notification to the insurance producer at the insurance producer's last known address by certified mail, return receipt requested and postage prepaid, by overnight delivery using a nationally recognized carrier, or if acceptable, by electronic means.

Source: SL 2001, ch 286, § 42.
S.D. Codified Laws § 58-5A-9 — SD Code / Title 58 / Chapter 5A / Section 58-5A-9
Approval by director of acquisition or merger--Grounds for disapproval
Status: in_force

The director shall approve any merger or other acquisition of control referred to in §§ 58-5A-3 and 58-5A-45 unless, after a public hearing he finds that:

(1) After the change of control the domestic insurer would not be able to satisfy the requirements for the issuance of a license to write the line or lines of insurance for which it is presently licensed;

(2) The effect of the merger or other acquisition of control would be substantially to lessen competition in insurance in this state or tend to create a monopoly. In applying the competitive standard in this subdivision:

(a) The informational requirements of § 58-5A-48 and the standards of § 58-5A-50 shall apply;

(b) The merger or other acquisition shall not be disapproved if the director finds that any of the situations meeting the criteria provided by § 58-5A-50 exist; and

(c) The director may condition the approval of the merger or other acquisition on the removal of the basis of disapproval within a specified period of time;

(3) The financial condition of any acquiring party is such as might jeopardize the financial stability of the insurer, or prejudice the interest of its policyholders;

(4) The plans or proposals which the acquiring party has to liquidate the insurer, sell its assets or consolidate or merge it with any person, or to make any other material change in its business or corporate structure or management, are unfair and unreasonable to policyholders of the insurer and not in the public interest;

(5) The competence, experience, and integrity of those persons who would control the operation of the insurer are such that it would not be in the interest of policyholders of the insurer and of the public to permit the merger or other acquisition of control; or

(6) The acquisition is likely to be hazardous or prejudicial to the insurance buying public.

Source: SL 1972, ch 267, § 8; SL 1986, ch 416; SL 1992, ch 341, § 5.
S.D. Codified Laws § 58-6-29 — SD Code / Title 58 / Chapter 6 / Section 58-6-29
Annuities--Granting by life insurer without additional capital or surplus
Status: in_force

A life insurer may also grant annuities without additional capital or additional surplus.

Source: SL 1966, ch 111, ch 3, § 12 (1).
S.D. Codified Laws § 58-5A-44 — SD Code / Title 58 / Chapter 5A / Section 58-5A-44
Disposition of investment in subsidiary upon cessation of control--Waiver
Status: in_force

If an insurer ceases to control a subsidiary, it shall dispose of the investment in the subsidiary within three years from the time of the cessation of control or within further time as the director may prescribe upon written request by the insurer. If the investment qualifies for investment under any other section of this chapter, and the insurer has notified the director in writing of that qualification, the disposition requirement may be waived by the director.

Source: SL 1992, ch 341, § 3.
S.D. Codified Laws § 58-26-40 — SD Code / Title 58 / Chapter 26 / Section 58-26-40
Unearned premium reserve provisions inapplicable to title insurance
Status: in_force

Sections 58-26-36 to 58-26-39 , inclusive, do not apply to title insurance.

Source: SL 1966, ch 111, ch 5, § 5 (5).
S.D. Codified Laws § 58-43-16.4 — SD Code / Title 58 / Chapter 43 / Section 58-43-16.4
Independence of audit committee members
Status: in_force

A member of the audit committee may not be considered independent, other than in the member's capacity as a member of the audit committee, the board of directors, or any other board committee, if the member accepts any consulting, advisory, or other compensatory fee from the entity or be an affiliated person of the entity or any subsidiary thereof. However, if a law requires board participation by otherwise nonindependent members, that law shall prevail, and the members may participate in the audit committee and be designated as independent for audit committee purposes unless the member is an officer or employee of the insurer or one of its affiliates.

Source: SL 2009, ch 271, § 19, eff. Jan. 1, 2010.
S.D. Codified Laws § 58-27-55 — SD Code / Title 58 / Chapter 27 / Section 58-27-55
Maintenance of invested funds--Minimum amount--Guaranteed securities--Real property
Status: in_force

An insurer, other than title insurer, shall invest and maintain invested funds not less in amount than the minimum paid - in capital stock required under this title of a domestic stock insurer transacting like kinds of insurance, only in cash and the securities provided for under §§ 58-27-9 to 58-27-15 , inclusive, and under §§ 58-27-32 to 58-27-40 , inclusive.

Source: SL 1966, ch 111, ch 6, § 5 (3).
S.D. Codified Laws § 58-17-39 — SD Code / Title 58 / Chapter 17 / Section 58-17-39
Illegal occupation of insured
Status: in_force

There may be a provision as follows: "Illegal occupation: The insurer shall not be liable for any loss to which a contributing cause was the insured's commission of or attempt to commit a felony or to which a contributing cause was the insured's being engaged in an illegal occupation."

Source: SL 1966, ch 111, ch 25, § 22.
S.D. Codified Laws § 58-19-29 — SD Code / Title 58 / Chapter 19 / Section 58-19-29
Use of forms unlawful after withdrawal
Status: in_force

It is not lawful for the insurer to issue such forms or use them after the effective date of such withdrawal.

Source: SL 1966, ch 111, ch 27, § 7 (5).
S.D. Codified Laws § 58-19-15 — SD Code / Title 58 / Chapter 19 / Section 58-19-15
Termination of insurance prior to maturity date--Refund of amount paid by debtor
Status: in_force

Each individual policy, or group certificate shall provide that in the event of termination of the insurance prior to the scheduled maturity date of the indebtedness, any refund of an amount paid by the debtor for insurance shall be paid or credited promptly to the person entitled thereto; provided, however, that the director shall prescribe a minimum refund and no refund which would be less than such minimum need be made. The formula to be used in computing such refund shall be promulgated in a rule by the director.

Source: SL 1966, ch 111, ch 27, § 8 (2); SL 1986, ch 22, § 30.
S.D. Codified Laws § 58-5A-74 — SD Code / Title 58 / Chapter 5A / Section 58-5A-74
Determining whether investments meet applicable requirements
Status: in_force

Whether any investment pursuant to § 58-5A-73 meets the applicable requirements of that section is to be determined before the investment is made, by calculating the applicable investment limitations as though the investment had already been made, taking into account the then outstanding principal balance on all previous investments in debt obligations, and the value of all previous investments in equity securities as of the day they were made, net of any return of capital invested, not including dividends.

Source: SL 1992, ch 341, § 25.
S.D. Codified Laws § 58-3-1 — SD Code / Title 58 / Chapter 3 / Section 58-3-1
Examination of insurers--Scope
Status: in_force

The director of the Division of Insurance shall examine the affairs, transactions, accounts, records, and assets of each company, authorized insurer, management company, an owned or controlled subsidiary of the insurer, and each rating organization, as often as he deems advisable. He shall examine each domestic insurer not less frequently than every five years. During an examination, the director may also examine any person or the business of any person that the director considers is necessary, material or affects the business of the insurer.

Source: SL 1966, ch 111, ch 2, § 16 (1); SL 1992, ch 338, § 2.
S.D. Codified Laws § 58-37A-28 — SD Code / Title 58 / Chapter 37A / Section 58-37A-28
Examination of domestic, foreign, and alien societies--Requirements--Responsibility for expenses--Report of examination
Status: in_force

The director, or any person appointed by the director, may examine any domestic, foreign, or alien society transacting or applying for admission to transact business in this state in the same manner as authorized for examination of domestic, foreign, or alien insurers. Requirements of notice and an opportunity to respond before findings are made public as provided in the laws regulating insurers are also applicable to the examination of societies.

The expense of each examination and of each valuation, including compensation and actual expense of examiners, shall be paid by the society examined or whose certificates are valued, upon statements furnished by the director.

A summary of the report of the director and the recommendations or statements of the director that accompany the report, shall be read at the first meeting of the board of directors or corresponding body of the society following their receipt, and if directed by the director, shall also be read at the first meeting of the supreme legislative or governing body of the society following their receipt. A copy of the report, recommendations, and statements of the director shall be furnished by the society to each member of the board of directors or other governing body.

Source: SL 1990, ch 410, § 28.
S.D. Codified Laws § 58-17-166 — SD Code / Title 58 / Chapter 17 / Section 58-17-166
Scope of benefits not affected--Medical benefits not included
Status: in_force

Nothing in §§ 58-17-163 to 58-17-165 , inclusive, limits an insurer's ability to determine the scope of the insurer's benefits, services, or any other terms of the insurer's policies or to negotiate any contract with a licensed health care provider regarding reimbursement rates or any other lawful provisions.

The provisions of §§ 58-17-163 to 58-17-166 , inclusive, apply only to any policy of insurance insuring dental care services. The provisions of §§ 58-17-163 to 58-17-166 , inclusive, do not apply to any service payable as a medical benefit pursuant to a health benefit plan as defined in subdivision 58-17-66(9).

Source: SL 2017, ch 213, § 4.
S.D. Codified Laws § 58-33A-16.5 — SD Code / Title 58 / Chapter 33A / Section 58-33A-16.5
Recommendation--Sale of annuity--Disclosure to consumer
Status: in_force

Prior to or at the time of the recommendation or sale of an annuity, the producer shall prominently disclose to the consumer on a form substantially similar to the form prescribed by the director and available on the division’s website:

(1) A description of the scope and terms of the relationship with the consumer and the role of the producer in the transaction;

(2) An affirmative statement on whether the producer is licensed and authorized to sell the following products:

(a) Fixed annuities;

(b) Fixed indexed annuities;

(c) Variable annuities;

(d) Life insurance;

(e) Mutual funds;

(f) Stocks and bonds; and

(g) Certificates of deposit;

(3) An affirmative statement describing the insurers the producer is authorized, contracted, appointed, or otherwise able to sell insurance products for using the following descriptions:

(a) From one insurer;

(b) From two or more insurers; or

(c) From two or more insurers although primarily contracted with one insurer;

(4) A description of the sources and types of cash compensation and non-cash compensation to be received by the producer, including whether the producer is to be compensated for the sale of a recommended annuity by commission as part of premium or other remuneration received from the insurer, intermediary, or other producer or by fee as a result of a contract for advice or consulting services; and

(5) A notice of the consumer’s right to request additional information regarding cash compensation described in § 58-33A-16.6 .

Source: SL 2022, ch 186, § 12, eff. Jan. 1, 2023.
S.D. Codified Laws § 58-27-110 — SD Code / Title 58 / Chapter 27 / Section 58-27-110
Title plans investments
Status: in_force

A domestic title insurer may make investments in title plants in an aggregate amount not exceeding twenty - five percent of the insurer's assets.

Source: SL 1997, ch 294, § 32.
S.D. Codified Laws § 58-17E-5 — SD Code / Title 58 / Chapter 17E / Section 58-17E-5
Definitions
Status: in_force

Terms used in this chapter mean:

(1) "Ancillary services," includes audiology, dental, vision, mental health, substance abuse, chiropractic, and podiatry services;

(2) "Facility," an institution providing medical or ancillary services or a health care setting. The term includes:

(a) A hospital or other licensed inpatient center;

(b) An ambulatory surgical or treatment center;

(c) A skilled nursing center;

(d) A residential treatment center;

(e) A rehabilitation center; and

(f) A diagnostic, laboratory or imaging center;

(3) "Health care professional," a physician, pharmacist, or other health care practitioner who is licensed, accredited, or certified to perform specified medical or ancillary services within the scope of his or her license, accreditation, certification, or other appropriate authority consistent with state law;

(4) "Marketer," a person or entity that markets, promotes, sells, or distributes a discount medical plan, including a private label entity that places its name on and markets or distributes a discount medical plan pursuant to a marketing agreement with a discount medical plan organization;

(5) "Medical services," any maintenance care of, or preventive care for, the human body, or care, service, or treatment of an illness or dysfunction of, or injury to, the human body. The term includes physician care, inpatient care, hospital surgical services, emergency services, ambulance services, dental care services, vision care services, mental health services, substance abuse services, chiropractic services, podiatric services, laboratory services, medical equipment and supplies, pharmacy services or ancillary services;

(6) "Medicare prescription drug plan," a plan that provides Medicare Part D prescription drug benefit in accordance with the requirements of the federal Medicare Prescription Drug, Improvement and Modernization Act of 2003;

(7) "Member," any individual who pays fees, dues, charges, or other consideration for the right to receive the benefits of a discount medical plan. Member does not include any individual who enrolls in a patient access program;

(8) "Patient access program," a voluntary program sponsored by a pharmaceutical manufacturer or a consortium of pharmaceutical manufacturers, that provide free or discounted health care products directly to low-income or uninsured individuals either through a discount card or direct shipment;

(9) "Provider," any health care professional or facility that has contracted, directly or indirectly, with a discount medical plan organization to provide medical or ancillary services to members;

(10) "Provider network," an entity that negotiates directly or indirectly with a discount medical plan organization on behalf of more than one provider to provide medical or ancillary services to members.

Source: SL 2006, ch 257, § 5.
S.D. Codified Laws § 58-30-134 — SD Code / Title 58 / Chapter 30 / Section 58-30-134
Rights of policyholders, claimants, and auditors
Status: in_force

Nothing contained in §§ 58-30-124 to 58-30-139 , inclusive, limits or restricts the rights of policyholders, claimants, and auditors.

Source: SL 1992, ch 353, § 11.
S.D. Codified Laws § 58-43-23 — SD Code / Title 58 / Chapter 43 / Section 58-43-23
Fine, suspension, or revocation of license for violation
Status: in_force

Failure of an insurer subject to this chapter to comply with this chapter may result in a fine of not more than twenty - five thousand dollars for each violation or suspension of not more than one year or revocation of the certificate of authority.

Source: SL 1992, ch 357, § 23.
S.D. Codified Laws § 58-5-38 — SD Code / Title 58 / Chapter 5 / Section 58-5-38
Extinguishment of contingent liability must apply to all members and policies
Status: in_force

The director shall not approve the extinguishment of contingent liability pursuant to § 58-5-37 unless it applies to all members and all policies of insurance of such insurer.

Source: SL 1966, ch 111, ch 16, § 31 (2).
S.D. Codified Laws § 58-9-21 — SD Code / Title 58 / Chapter 9 / Section 58-9-21
Casualty insurance including malpractice insurance
Status: in_force

"Casualty insurance" includes malpractice insurance, insurance against legal liability of the insured, and against loss, damage, or expense incidental to a claim of such liability, and including medical, hospital, surgical, and funeral benefits to injured persons, irrespective of legal liability of the insured, arising out of the death, injury, or disablement of any person, or arising out of damage to the economic interest of any person, as the result of negligence in rendering expert, fiduciary, or professional service.

Source: SL 1966, ch 111, ch 4, § 6 (1) (k).
S.D. Codified Laws § 58-38-38 — SD Code / Title 58 / Chapter 38 / Section 58-38-38
Shorter hospital stay permitted--Follow-up visit within forty-eight hours required
Status: in_force

If the treating physician determines that the mother and the newborn meet medical criteria contained in Guidelines for Perinatal Care, Third Edition, of the American Academy of Pediatrics and the American College of Obstetricians and Gynecologists as in effect on January 1, 1996, a service or indemnity - type contract issued by a nonprofit medical and surgical service plan corporation may provide coverage for a shorter length of hospital inpatient stay for services related to maternity and newborn care than is required in § 58-38-37 if the coverage includes one follow - up visit in the first forty - eight hours after discharge to verify the condition of the mother and newborn.

Source: SL 1996, ch 292, § 11.
S.D. Codified Laws § 58-29B-115 — SD Code / Title 58 / Chapter 29B / Section 58-29B-115
Claims made under employment contracts by directors or similar personnel--Limit on payment
Status: in_force

Claims made under employment contracts by directors, principal officers, or persons in fact performing similar functions or having similar powers are limited to payment for services rendered prior to the issuance of any order of rehabilitation or liquidation under § 58-29B-32 or 58-29B-42 .

Source: SL 1989, ch 436, § 115.
S.D. Codified Laws § 58-33-34 — SD Code / Title 58 / Chapter 33 / Section 58-33-34
Directorship in two or more insurers permitted
Status: in_force

Any person otherwise qualified may be director of two or more insurers which are competitors, unless the effect thereof is to lessen substantially competition between insurers generally or tends materially to create a monopoly.

Source: SL 1966, ch 111, ch 13, § 19 (2).
S.D. Codified Laws § 58-32-33 — SD Code / Title 58 / Chapter 32 / Section 58-32-33
Surplus line insurance valid
Status: in_force

Insurance contracts procured as surplus line coverage from unauthorized insurers shall be valid and enforceable as to all parties, the same as like contracts issued by authorized insurers.

Source: SL 1966, ch 111, ch 11, § 10.
S.D. Codified Laws § 58-24-13 — SD Code / Title 58 / Chapter 24 / Section 58-24-13
Information furnished in support of filing
Status: in_force

If a filing is not accompanied by the information upon which the insurer supports the filing, and the director does not have sufficient information to determine whether the filing meets the requirements of the chapter, the director shall require the insurer to furnish the information upon which the insurer supports the filing. The information furnished in support of a filing may include:

(1) The experience or judgment of the insurer or rating organization making the filing;

(2) Its interpretation of any statistical data it relies upon;

(3) The experience of other insurers or rating organizations; or

(4) Any other relevant factors.

Source: SL 1966, ch 111, ch 15, § 4 (1); SL 2008, ch 269, § 1.
S.D. Codified Laws § 58-41-86.1 — SD Code / Title 58 / Chapter 41 / Section 58-41-86.1
Suspension without notice or hearing
Status: in_force

The director of the Division of Insurance may, without advance notice or a hearing thereon, immediately suspend the certificate of authority of a health maintenance organization as to which proceedings for receivership, conservatorship, rehabilitation, or other delinquency proceedings have been commenced in any state by the public supervisory official of such state. Proceedings in such actions shall be conducted in accordance with §§ 58-6-49 to 58-6-61 , inclusive.

Source: SL 1985, ch 393, § 12.
S.D. Codified Laws § 58-29B-158 — SD Code / Title 58 / Chapter 29B / Section 58-29B-158
Domiciliary state's order of distribution controls claims of residents of this and reciprocal states
Status: in_force

In a liquidation proceeding in this state involving one or more reciprocal states, the order of distribution of the domiciliary state shall control as to all claims of residents of this and reciprocal states. All claims of residents of reciprocal states shall be given equal priority of payment from general assets regardless of where such assets are located.

Source: SL 1989, ch 436, § 158.
S.D. Codified Laws § 58-1-30.4 — SD Code / Title 58 / Chapter 1 / Section 58-1-30.4
Transmission of electronic documents by consent--Notice of document by electronic means
Status: in_force

The notice, as described in § 58-1-30.2 , may be delivered by electronic means to the covered employee's or covered person's designated electronic mail address or smart device number and must contain:

(1) A prominent statement that important information regarding the group health plan has been posted on the internet site;

(2) The name of or a description of the notice or document;

(3) The internet site address or a hyperlink at which the notice or document may be accessed;

(4) A statement of the recipient's right to request the notice or document in paper form at no charge and the process to exercise that right;

(5) A statement of the recipient's right to opt out of delivery by electronic means and to receive documents in paper form free of charge;

(6) The time period during which the notice or document will remain accessible on the internet site; and

(7) A telephone number for the insurer or the group health plan administrator.

Source: SL 2023, ch 162, § 5.
S.D. Codified Laws § 58-5A-8 — SD Code / Title 58 / Chapter 5A / Section 58-5A-8
Federal or state registration statements utilized in furnishing information
Status: in_force

If any offer, request, invitation, agreement, or acquisition referred to in § 58-5A-3 is proposed to be made by means of a registration statement under the Securities Act of 1933 or in circumstances requiring the disclosure of similar information under the Securities Exchange Act of 1934, or under a state law requiring similar registration or disclosure, the person required to file the statement referred to in § 58-5A-3 may utilize such documents in furnishing the information called for by that statement.

Source: SL 1972, ch 267, § 7.
S.D. Codified Laws § 58-5-44 — SD Code / Title 58 / Chapter 5 / Section 58-5-44
Funds of domestic mutual insurer--Deposit, custody, disbursement, and accounting
Status: in_force

The bylaws of a domestic mutual insurer shall provide for deposit, custody, disbursement, and accounting of corporate funds.

Source: SL 1966, ch 111, ch 16, § 16 (2) (e).
S.D. Codified Laws § 58-17A-2 — SD Code / Title 58 / Chapter 17A / Section 58-17A-2
Regulations to establish specific standards for policy provisions
Status: in_force

The director shall promulgate rules pursuant to chapter 1-26 to establish specific standards and requirements for medicare supplement policies and certificates. The standards and requirements shall be in addition to and in accordance with applicable laws of this state and may cover, but are not limited to:

(1) Terms of renewability;

(2) Initial and subsequent conditions of eligibility;

(3) Nonduplication of coverage;

(4) Probationary periods;

(5) Benefit limitations, exceptions, and reductions;

(6) Elimination periods;

(7) Requirements for replacement;

(8) Recurrent conditions;

(9) Definitions of terms;

(10) Filing requirements for forms and rates and rate schedules;

(11) Marketing practices;

(12) Reporting practices;

(13) Compensation arrangements between insurers or other entities and their agents, representatives, or producers;

(14) Suitability and appropriateness of policy sold;

(15) Data on application forms;

(16) Continuation and conversion rights;

(17) Loss ratio requirements and refund and credit calculations;

(18) Suspension and reinstitution of coverage; and

(19) Refund of premium for duplication and suspension and reinstitution of coverage.

The director may promulgate rules pursuant to chapter 1-26 that specify prohibited policy or certificate provisions not otherwise specifically authorized by statute which, in the opinion of the director, are unjust, unfair, or unfairly discriminatory to any person insured or proposed for coverage under a medicare supplement policy or certificate. The director may also promulgate rules assuring public access to rate and form information, establishing procedures for rate and form approvals or disapprovals, and establishing a uniform methodology for calculating and reporting loss ratios.

The director shall promulgate rules pursuant to chapter 1-26 to establish minimum standards for benefits and claims payment under medicare supplement policies and certificates and to establish procedures for rate hearings.

Source: SL 1982, ch 360, § 2; SL 1989, ch 431, § 2; SL 1990, ch 396, § 2; SL 1992, ch 347, § 2.
S.D. Codified Laws § 58-29D-3 — SD Code / Title 58 / Chapter 29D / Section 58-29D-3
Insurer defined
Status: in_force

For the purposes of this chapter, an insurer is any person undertaking to provide workers' compensation, life or health insurance coverage in this state. An insurer includes a licensed insurance company, a prepaid hospital or medical care plan, a health maintenance organization, a multiple employer welfare arrangement, or any other person providing a plan of insurance subject to state insurance regulation. The term, insurer, does not include a bona fide employee benefit plan established by an employer or an employee organization, or both, for which the insurance laws of this state are preempted pursuant to the Employee Retirement Income Security Act of 1974.

Source: SL 1992, ch 352, § 3; SL 2001, ch 285, § 2.
S.D. Codified Laws § 58-27-96 — SD Code / Title 58 / Chapter 27 / Section 58-27-96
Conflicting provisions
Status: in_force

If any provision of this Title conflicts with the provisions of §§ 58-27-89 to 58-27-102 , inclusive, and has a lesser standard of investment, the provisions of §§ 58-27-89 to 58-27-102 , inclusive, shall prevail.

Source: SL 1992, ch 350, § 8.
S.D. Codified Laws § 58-20-1 — SD Code / Title 58 / Chapter 20 / Section 58-20-1
Definition of terms
Status: in_force

Terms used in this chapter mean:

(1) "Compensation," all insurances effected by virtue of statutes providing payment to an employee for personal injury irrespective of fault of the employer;

(2) "Earned premiums," gross premiums charged on all policies written, including all determined excess and additional premiums, less return premiums, other than premiums returned to policyholders as dividends, and less reinsurance premiums and premiums on policies canceled, and less unearned premiums on policies in force. Any participating insurer that has charged in its premiums a loading solely for dividends is not required to include the loading in its earned premiums, provided a statement of the amount of the loading has been filed with and approved by the director;

(3) "Liability," all insurance except compensation insurance against loss or damage from an accident to or injury suffered by an employee or other person and for which the insured is liable; and

(4) "Loss payments" and "loss expense payments," payments to claimants for:

(a) Medical or surgical attendants;

(b) Legal expenses;

(c) Salaries and expenses of investigators, adjusters, and field support personnel;

(d) Rents, stationery, telephone charges, and postage;

(e) Salaries and expenses of office employees;

(f) Home office expenses; and

(g) All other payments made on account of claims, whether payments are allocated to specific claims or unallocated.

Source: SL 1966, ch 111, ch 29, § 1; SL 2025, ch 197, § 2.
S.D. Codified Laws § 58-28-13 — SD Code / Title 58 / Chapter 28 / Section 58-28-13
Life insurers authorized to establish separate accounts--Allocations to provide insurance or annuities
Status: in_force

A domestic life insurer, including for the purposes of this chapter all domestic fraternal beneficiary associations, societies or companies which operate on a legal reserve basis may establish one or more separate accounts, and may allocate thereto amounts, including without limitation proceeds applied under optional modes of settlement or under dividend options, to provide for life insurance or annuities, and benefits incidental thereto, payable in fixed or variable amounts or both, subject to §§ 58-28-14 to 58-28-22 , inclusive.

Source: SL 1966, ch 111, ch 6, § 36 (2); § 36 (1) as amended by SL 1967, ch 131; SDCL, § 58-28-1 ; SL 1971, ch 266, § 1.
S.D. Codified Laws § 58-5-32 — SD Code / Title 58 / Chapter 5 / Section 58-5-32
Levy of assessment by mutual insurer for contingent liability
Status: in_force

If at any time the minimum basic surplus required of a domestic mutual insurer by §§ 58-5-21 and 58-5-22 becomes impaired and the deficiency is not cured from other sources, its directors shall forthwith levy an assessment upon only its members who held policies providing for contingent liability at any time within the twelve months preceding the date that notice of such assessment was mailed to the members' last known post office addresses, and such members shall be liable thereafter to the insurer for the amount so assessed.

Source: SL 1966, ch 111, ch 16, § 30 (1).
S.D. Codified Laws § 58-17H-39 — SD Code / Title 58 / Chapter 17H / Section 58-17H-39
Registration fee for utilization review organizations
Status: in_force

The director may require the payment of a fee in conjunction with the initial or annual registration of a utilization review organization not to exceed two hundred fifty dollars per registration. The fee shall be established by rules promulgated pursuant to chapter 1-26 .

Source: SL 2011, ch 219, § 64.
S.D. Codified Laws § 58-26-84 — SD Code / Title 58 / Chapter 26 / Section 58-26-84
Promulgation of rules for minimum standards applicable to health plans issued on or after July 1, 1995 and before operative date of valuation manual
Status: in_force

The director shall promulgate rules pursuant to chapter 1-26 for containing the minimum standards applicable to the valuation of health plans, including disability, sickness, and accident, issued on or after July 1, 1995, and prior to the operative date of the valuation manual. For accident and health insurance contracts issued on or after the operative date of the valuation manual, the standard prescribed in the valuation manual is the minimum standard of valuation required pursuant to § 58-26-45.1 .

Source: SL 1995, ch 284, § 40; SL 2015, ch 254, § 23.
S.D. Codified Laws § 58-17-84 — SD Code / Title 58 / Chapter 17 / Section 58-17-84
Provisions for carriers providing individual coverage other than excepted benefits
Status: in_force

Any health carrier providing individual coverage, other than excepted benefits, shall comply with the following provisions:

(1) No individual coverage may deny, exclude, or limit benefits for a covered individual for claims incurred more than twelve months following the effective date of the person's coverage due to a preexisting condition. No policy may define a preexisting condition more restrictively than:

(a) A condition that would have caused an ordinarily prudent person to seek medical advice, diagnosis, care, or treatment during the twelve months immediately preceding the effective date of coverage;

(b) A condition for which medical advice, diagnosis, care, or treatment was recommended or received during the twelve months immediately preceding the effective date of coverage; or

(c) A pregnancy existing on the effective date of coverage;

(2) The health carrier shall waive any time period applicable to a preexisting condition exclusion or limitation period with respect to particular services for the aggregate period of time a person was previously covered by creditable coverage, excluding limited benefit plans and dread disease plans that provided benefits with respect to such services, if the creditable coverage was continuous to a date not more than sixty-three days before the application for the new coverage. A period of time a person was previously covered may not be aggregated if there was a break in coverage of sixty-three days or more. The coverage shall count a period of creditable coverage without regard to the specific benefits covered under the policy, unless the health carrier elects to credit it based on coverage of benefits within several classes or categories of benefits specified in rules adopted pursuant to chapter 1-26 , by the director;

(3) A health maintenance organization which does not utilize a preexisting waiting period may use an affiliation period in lieu of a preexisting waiting period. No affiliation period may exceed two months in length. No premium may be charged for any portion of the affiliation period. If the health maintenance organization utilizes neither a preexisting waiting period nor an affiliation period, the health maintenance organization may use other criteria designed to avoid adverse selection provided that those criteria are approved by the director;

(4) Genetic information may not be treated as a condition for which a preexisting condition exclusion may be imposed in the absence of a diagnosis of the condition related to such information; and

(5) A condition may not be defined or considered as preexisting if the condition arose after a person began creditable coverage and if there was not a break in coverage which exceeded sixty-three days.

For purposes of this section, the effective date of coverage is the first day the person became covered for either accidents or sicknesses. Except for plans grandfathered pursuant to 75 Fed. Reg. 116 (2010) to be codified at 26 C.F.R. §§ 54 and 602, 29 C.F.R. § 2590, and 45 C.F.R. § 147, no covered person under the age of nineteen is subject to a preexisting condition limitation or exclusion for any plan year beginning on or after September 23, 2010. Excepted benefits are subject to the provisions of § 58-17-97 .

Source: SL 1996, ch 286, § 19; SL 1997, ch 289, § 4; SL 2001, ch 275, § 2; SL 2003, ch 248, § 2; SL 2011, ch 216, § 6.
S.D. Codified Laws § 58-11-47 — SD Code / Title 58 / Chapter 11 / Section 58-11-47
Reasons for cancellation not applicable to automobile policy in effect less than sixty days--Application of notice provisions to policies
Status: in_force

The provisions of § 58-11-46 do not apply to any policy or coverage that has been in effect less than sixty days at the time notice of cancellation is mailed or delivered by the insurer unless it is a renewal policy. The notice provisions of § 58-11-49 apply to any policy for which notice to cancel is given prior to sixty days from the policy effective date. A policy that has been in effect for less than sixty days may be cancelled for any reason if the notice is given prior to the expiration of sixty days from the policy effective date.

Source: SL 1968, ch 138, § 2 (B); SL 2004, ch 298, § 1.
S.D. Codified Laws § 58-30-117 — SD Code / Title 58 / Chapter 30 / Section 58-30-117
Continuing education requirements--Promulgation of rules
Status: in_force

The director may promulgate rules, in accordance with chapter 1-26 , regarding insurance producer continuing education requirements, exemptions, programs, courses, providers, definitions, extensions, fees and funding, instructors, applications, advertising, and administration.

Source: SL 1984, ch 331, § 4; SL 1986, ch 22, § 38; SL 1990, ch 406, § 4; SL 1994, ch 411, (Ex. Ord. 94-3), § 17; SL 2001, ch 286, § 187; SL 2025, ch 197, § 5.
S.D. Codified Laws § 58-15-65 — SD Code / Title 58 / Chapter 15 / Section 58-15-65
Reversionary annuity contract--Standard provisions
Status: in_force

Except as stated in § 58-15-67 , no contract for a reversionary annuity shall be delivered or issued for delivery in this state unless it contains in substance each of the provisions specified in §§ 58-15-59 to 58-15-63 , inclusive, except that under § 58-15-62 the insurer may at its option provide for an equitable reduction of the amount of the annuity payments in settlement of an overdue payment in lieu of providing for deduction of such payments from an amount payable upon settlement under the contract.

Source: SL 1966, ch 111, ch 23, § 25 (1) (a).
S.D. Codified Laws § 58-17E-19 — SD Code / Title 58 / Chapter 17E / Section 58-17E-19
Registration exception for providers giving discounts to own patients
Status: in_force

A provider who provides discounts to the provider's own patients without any cost or fee of any kind to the patient is not required to obtain and maintain a registration under this chapter as a discount medical plan organization.

Source: SL 2006, ch 257, § 18.
S.D. Codified Laws § 58-17-69 — SD Code / Title 58 / Chapter 17 / Section 58-17-69
Creditable coverage defined
Status: in_force

For purposes of §§ 58-17-66 to 58-17-87 , inclusive, the term, creditable coverage, means benefits or coverage provided under:

(1) An employer - based health insurance or health benefit arrangement that provides benefits similar to or exceeding benefits provided under the basic health benefit plan or an employee welfare benefit plan as defined in section 3(1) of the Employee Retirement Income Security Act of 1974 as adopted by the director pursuant to chapter 1-26, to the extent that the plan provides directly or through insurance, reimbursement or otherwise to employees or their dependents medical care for the diagnosis, cure, mitigation, treatment, or prevention of disease, or amounts paid for the purpose of affecting any structure or function of the body and amounts paid for the transportation primarily for and essential to medical care;

(2) An individual health benefit plan, including coverage issued by any health maintenance organization or pre - paid hospital or medical services plan that provides benefits similar to or exceeding the benefits provided under the basic health benefit plan as approved pursuant to chapter 1-26, but excluding limited benefit plans and dread disease plans;

(3) Medicare or medicaid;

(4) Chapter 55 of Title 10, United States Code;

(5) A medical care program of the Indian Health Service or of a tribal organization;

(6) A state health benefits risk pool;

(7) A health plan offered under Chapter 89 of Title 5, United States Code;

(8) A public health plan;

(9) A health benefit plan under section 5(e) of the Peace Corps Act (22 U.S.C. 2504(e));

(10) A church plan;

(11) A college plan;

(12) A short term or limited duration plan; or

(13) An individual health benefit plan, including coverage issued by any health maintenance organization or pre - paid hospital or medical services plan that provided benefits less than the benefits provided under the basic health benefit plan as approved pursuant to chapter 1-26, but excluding the following excepted benefits:

(a) Coverage only for accident including accidental death and dismemberment;

(b) Disability income insurance;

(c) Liability insurance including general liability insurance and automobile liability insurance;

(d) Coverage issued as a supplement to liability insurance;

(e) Workers' compensation or similar insurance;

(f) Automobile medical payment insurance;

(g) Credit only insurance including mortgage insurance;

(h) Coverage for on - site medical clinics; and

(i) Limited scope dental and long - term care insurance, if provided under a separate policy, certificate, or contract of insurance, or not otherwise an integral part of a plan.

Source: SL 1996, ch 286, § 4; SL 1997, ch 289, § 2; SL 1998, ch 289, § 1; SL 1999, ch 250, § 1; SL 2001, ch 275, § 1; SL 2004, ch 301, § 1.
S.D. Codified Laws § 58-29A-73 — SD Code / Title 58 / Chapter 29A / Section 58-29A-73
Reimbursement of servicing facility--Payment of other expenses
Status: in_force

The association shall reimburse each servicing facility for obligations of the association paid by the facility and for expenses incurred by the facility while handling claims on behalf of the association and shall pay the other expenses of the association authorized by this chapter.

Source: SL 2000, ch 247, § 20.
S.D. Codified Laws § 58-30-33 — SD Code / Title 58 / Chapter 30 / Section 58-30-33
Changes in personnel employed by firm--Notice to director
Status: in_force

A licensed business entity shall promptly notify the director of all changes.

Source: SL 1966, ch 111, ch 9, § 10 (5); SL 2001, ch 286, § 167.
S.D. Codified Laws § 58-29D-8 — SD Code / Title 58 / Chapter 29D / Section 58-29D-8
Recordkeeping by administrator
Status: in_force

Every administrator shall maintain and make available to the insurer complete books and records of all transactions performed on behalf of the insurer. The books and records shall be maintained in accordance with prudent standards of insurance record keeping and must be maintained for a period of not less than five years from the date of their creation.

Source: SL 1992, ch 352, § 8.
S.D. Codified Laws § 58-27-1 — SD Code / Title 58 / Chapter 27 / Section 58-27-1
Application of chapter
Status: in_force

Except for § 58-27-68 , this chapter applies to domestic insurers only.

Source: SL 1966, ch 111, ch 6, § 1.
S.D. Codified Laws § 58-5-40 — SD Code / Title 58 / Chapter 5 / Section 58-5-40
Meetings of members of domestic mutual insurer--Time, notice, quorum, and conduct
Status: in_force

The bylaws of a domestic mutual insurer shall provide the time, notice, quorum, and conduct of annual and special meetings of members. In no event shall a quorum at any meeting of members be less than five percent of the total membership.

Source: SL 1966, ch 111, ch 16, § 16 (2) (c), (3); SL 1968, ch 135; SL 1973, ch 297.
S.D. Codified Laws § 58-11-66 — SD Code / Title 58 / Chapter 11 / Section 58-11-66
Filing and director approval required
Status: in_force

No policy form subject to the provisions of §§ 58-11-64 to 58-11-76 , inclusive, may be delivered or issued for delivery in this state, unless it has been filed with and approved by the director.

Source: SL 2008, ch 261, § 3.
S.D. Codified Laws § 58-7-22 — SD Code / Title 58 / Chapter 7 / Section 58-7-22
Compensation and expenses of depository or custodian borne by insurer
Status: in_force

The compensation and expenses of the depository or custodian shall be borne by the insurer.

Source: SL 1966, ch 111, ch 7, § 5 (7).
S.D. Codified Laws § 58-38-30 — SD Code / Title 58 / Chapter 38 / Section 58-38-30
Approval of purchasing organization by Division of Insurance
Status: in_force

Any organization shall, prior to its engaging in the business of insurance, obtain approval from the Division of Insurance. The division may deny approval or withdraw approval of an organization to engage in the business of insurance for any of the following reasons:

(1) Any of the grounds specified in § 58-6-8 ;

(2) Insufficient membership control of the organization;

(3) Unreasonable compensation to officers, directors, or employees of the organization;

(4) Misuse of premiums; or

(5) Refusal to be examined or to cooperate in an examination.

Source: SL 1994, ch 382, § 6.
S.D. Codified Laws § 58-25-27 — SD Code / Title 58 / Chapter 25 / Section 58-25-27
Supplemental reserve to cover liabilities
Status: in_force

A supplemental reserve shall be established consisting of any other reserves necessary, when taken in combination with the reserves required by §§ 58-25-22 to 58-25-27 , inclusive, to cover the company's liabilities with respect to all losses, claims, and loss adjustment expenses.

Source: SL 2002, ch 239, § 6.
S.D. Codified Laws § 58-15-63 — SD Code / Title 58 / Chapter 15 / Section 58-15-63
Participating annuity or endowment contract--Ascertainment and apportionment of divisible surplus
Status: in_force

If an annuity or pure endowment contract, other than reversionary, survivorship, or group annuity, is participating, there shall be a provision that the insurer shall annually ascertain and apportion any divisible surplus accruing on the contract.

Source: SL 1966, ch 111, ch 23, § 23.
S.D. Codified Laws § 58-5-125 — SD Code / Title 58 / Chapter 5 / Section 58-5-125
Bulk reinsurance by domestic mutual insurer in stock insurer--Payments to members
Status: in_force

If for reinsurance in a stock insurer of all or substantially all of the insurance in force of a mutual insurer, the agreement must provide for payment in cash to each member of the insurer entitled thereto of his equity, if any, in the business reinsured as determined under a fair formula approved by the director, as based upon the reserves, assets (whether or not "admitted" assets) and surplus, if any, of the mutual insurer to be taken over by the stock insurer.

Source: SL 1966, ch 111, ch 16, § 41 (4).
S.D. Codified Laws § 58-18-27 — SD Code / Title 58 / Chapter 18 / Section 58-18-27
Time for commencement of action to recover under policy
Status: in_force

Subject to § 58-18-20 , every blanket health insurance policy shall contain a provision that no action at law or in equity shall be brought to recover under the policy prior to the expiration of sixty days after written proof of loss has been furnished in accordance with the requirements of the policy and that no such action shall be brought after the expiration of three years after the time written proof of loss is required to be furnished.

Source: SL 1966, ch 111, ch 26, § 5 (7).
S.D. Codified Laws § 58-33-140 — SD Code / Title 58 / Chapter 33 / Section 58-33-140
Value-added product or service--Promulgation of rules
Status: in_force

The director shall promulgate rules pursuant to chapter 1-26 regarding the permitted practices in §§ 58-33-136 to 58-33-139 , inclusive, to ensure consumer protection, consumer data protections and privacy, consumer disclosure, standard forms, definition of terms, and to prevent unfair discrimination.

Source: SL 2023, ch 167, § 5.
S.D. Codified Laws § 58-15-8.1 — SD Code / Title 58 / Chapter 15 / Section 58-15-8.1
Notice of right of cancellation after receipt of policy--"Free look" provision
Status: in_force

Every individual life insurance policy issued for delivery in South Dakota on or after July 1, 1982, by an insurance company or fraternal benefit society, shall have a notice printed on or attached to the face page of the policy, stating in substance that the person issued the policy is permitted to return the policy, with a written request for cancellation within ten days of its actual receipt by the purchaser, and to have the premium paid refunded if, after examination of the policy, the purchaser is not satisfied with it for any reason. If a policyholder or purchaser, pursuant to the notice, returns the policy to the company or fraternal benefit society at its home or branch office or to the insurance producer through whom it was purchased, it is void from the beginning and the parties are in the same position as if no policy had been issued.

Source: SL 1978, ch 361, § 1; SL 1982, ch 359; SL 2001, ch 286, § 106.
S.D. Codified Laws § 58-18-7.2 — SD Code / Title 58 / Chapter 18 / Section 58-18-7.2
Benefits provided under alcoholism coverage--Maximum treatment periods permitted
Status: in_force

The alcoholism coverage shall provide benefits on the same basis as benefits provided for the treatment of other sicknesses covered under the group policy; provided, however, that the coverage by the insurance carrier need not exceed thirty days' care in any six - month period, and further provided that the total days' care per recipient need not exceed ninety days during the life of the contract.

Source: SL 1975, ch 314, § 2; SL 1977, ch 411, § 2; SL 1978, ch 362, § 2.
S.D. Codified Laws § 58-20-3 — SD Code / Title 58 / Chapter 20 / Section 58-20-3
Issuance of policies covering employers as well as employees--Wage values of employers--Rights and remedies of employers
Status: in_force

Any insurer authorized or which may be authorized to write workers' compensation insurance in this state, shall be and is hereby authorized to issue policies covering employers who perform labor incidental to their occupations as well as employees, such policies insuring to such employers the same compensation as provided for their employees and at the same rates. The estimation of wage values of employers as herein mentioned, shall be reasonable and separately stated in and added to the valuation of their payrolls on which their premiums are computed. Employers so insured shall have the same rights and remedies as are given to an employee under Title 62.

Source: SL 1966, ch 111, ch 29, § 14.
S.D. Codified Laws § 58-29B-54 — SD Code / Title 58 / Chapter 29B / Section 58-29B-54
Failure of insurance producer to comply with §58-29B-53--Penalty--Liquidator's waiver of duties
Status: in_force

Any insurance producer failing to give notice or file a report of compliance as required in § 58-29B-53 may be subject to payment of a penalty of not more than one thousand dollars and may have the insurance producer's license suspended, which may only be imposed after a hearing held by the director. The liquidator may waive the duties imposed by § 58-29B-53 if he determines that other notice to the policyholders of the insurer under liquidation is adequate.

Source: SL 1989, ch 436, § 54; SL 2001, ch 286, § 146.
S.D. Codified Laws § 58-26-79 — SD Code / Title 58 / Chapter 26 / Section 58-26-79
Standards for calculating reserves for policies, contracts or benefits issued on or after July 1, 1995
Status: in_force

Reserves for any category of policies, contracts, or benefits as established by the director, issued on or after July 1, 1995, may be calculated, at the option of the company, according to any standards which produce greater aggregate reserves for any category than those calculated according to the minimum standard provided in this chapter, but the rate or rates of interest used for policies and contracts, other than annuity and pure endowment contracts, may not be greater than the corresponding rate or rates of interest used in calculating any nonforfeiture benefits provided in the policies or contracts.

Source: SL 1995, ch 284, § 35; SL 2015, ch 254, § 20.
S.D. Codified Laws § 58-11-21 — SD Code / Title 58 / Chapter 11 / Section 58-11-21
Grounds for disapproval of form or withdrawal of previous approval
Status: in_force

The director shall disapprove any form filed under § 58-11-12 , or withdraw any previous approval thereof, only if the form:

(1) Is in any respect in violation of or does not comply with this title;

(2) Contains or incorporates by reference, where such incorporation is otherwise permissible, any inconsistent, ambiguous, or misleading clauses, or exceptions and conditions which deceptively affect the risk purported to be assumed in the general coverage of the contract;

(3) Has any title, heading, or provision which is misleading;

(4) Is printed or otherwise reproduced illegibly.

Source: SL 1966, ch 111, ch 22, § 14.
S.D. Codified Laws § 58-5-20 — SD Code / Title 58 / Chapter 5 / Section 58-5-20
Transaction of business without certificate of authority as misdemeanor
Status: in_force

The corporation shall not transact business here as an insurer until it has received a certificate of authority as provided in this title. Violation of this section is a Class 2 misdemeanor.

Source: SL 1966, ch 111, ch 16, § 7 (4); SL 1978, ch 359, § 2.
S.D. Codified Laws § 58-11-20 — SD Code / Title 58 / Chapter 11 / Section 58-11-20
Order of director disapproving form or withdrawing previous approval--Detailed statement of grounds
Status: in_force

Any order of the director disapproving any such form or withdrawing a previous approval shall state the grounds therefor and the particulars thereof in such detail as reasonably to inform the insurer thereof.

Source: SL 1966, ch 111, ch 22, § 13 (3).
S.D. Codified Laws § 58-11-8 — SD Code / Title 58 / Chapter 11 / Section 58-11-8
Assessable policies--Special contents
Status: in_force

Every assessable policy delivered or issued for delivery in this state by an insurer, together with any application therefor shall have conspicuously printed near the top of the face of such policy and application thereof in bold - face type of a size not less than the largest type used for any heading or caption in the policy or application, the words "Important: this is an assessable policy," or "Important: this is an application for an assessable policy."

Source: SL 1966, ch 111, ch 22, § 17.
S.D. Codified Laws § 58-17-55 — SD Code / Title 58 / Chapter 17 / Section 58-17-55
Reimbursement provisions applicable to licensed hospitals
Status: in_force

Notwithstanding any provision of any policy of insurance subject to the general provisions of this title, whenever such policy or contract provides for reimbursement for any service which may be legally performed by a hospital licensed in this state which has an organized medical staff with permanent facilities including inpatient beds and which is primarily engaged in providing diagnostic or therapeutic services for medical diagnosis, treatment, or care of injured and disabled, rehabilitation services for the physical rehabilitation of the injured and disabled, either on its premises or in facilities under the supervision of physicians on a pre - arranged basis to inpatients, reimbursement for coverage provided under such policy or contracts shall not be denied.

Source: SL 1977, ch 409.
S.D. Codified Laws § 58-5B-2 — SD Code / Title 58 / Chapter 5B / Section 58-5B-2
Malpractice insurance contracts among health care providers
Status: in_force

Any number of physicians and surgeons, osteopaths, osteopathic physicians and surgeons, and graduate nurses, licensed to practice their profession in any of the states, and hospitals licensed under the laws of any of the states, may enter into contracts with each other for the purpose of protecting themselves by insurance against loss by reason of actions at law on account of their alleged error, mistake, negligence, or carelessness in the treatment and care of patients, including the performance of surgical operations, or in the prescribing and dispensing of drugs and medicines, or for loss by reason of damages in other respects, and to reimburse any member in case of such loss.

Source: SL 1976, ch 315, § 2.
S.D. Codified Laws § 58-33-128 — SD Code / Title 58 / Chapter 33 / Section 58-33-128
Certain disclosure practices considered false, misleading, deceptive, or unfair
Status: in_force

The following acts or practices by an insurer and or insurance producer regarding disclosure are declared to be false, misleading, deceptive, or unfair:

(1) Deploying, using, or contracting for any lead-generating materials designed exclusively for use with service members that do not clearly and conspicuously disclose that the recipient will be contacted by an insurance producer, if that is the case, for the purpose of soliciting the purchase of life insurance;

(2) Failing to disclose that a solicitation for the sale of life insurance will be made when establishing a specific appointment for an in-person, face-to-face meeting with a prospective purchaser;

(3) Excluding individually issued annuities, failing to clearly and conspicuously disclose the fact that the product being sold is life insurance;

(4) Failing to make, at the time of sale or offer to an individual known to be a service member, the written disclosures required by section 10 of the Military Personnel Financial Services Protection Act, Pub. L. No. 109-290, as of January 1, 2008; or

(5) Excluding individually issued annuities, if the sale is conducted in-person face-to-face with an individual known to be a service member, failing to provide the applicant at the time the application is taken:

(a) An explanation of any free look period with instructions on how to cancel if a policy is issued; and

(b) Either a copy of the application or a written disclosure. The copy of the application or the written disclosure shall clearly and concisely set out the type of life insurance, the death benefit applied for and its expected first year cost. A basic illustration that meets the requirements as adopted by rule pursuant to § 58-33-5.1 is sufficient to meet this requirement for a written disclosure.

Source: SL 2008, ch 272, § 12.
S.D. Codified Laws § 58-1-3.4 — SD Code / Title 58 / Chapter 1 / Section 58-1-3.4
Health benefit plan--Agricultural organization--Exemption
Status: in_force

A health benefit plan is not insurance and is not subject to this title, if:

(1) The plan provides health benefits under a self-funded arrangement, administered by an entity licensed as a third-party administrator in accordance with chapter 58-29D ; and

(2) The plan is sponsored by a nonprofit agricultural organization that:

(a) Is domiciled in this state ;

(b) Was created primarily to promote programs for the development of rural communities and the economic stability and sustainability of farmers in this state, as shown by its articles of incorporation;

(c) Has been in existence for at least twenty-five continuous years, prior to the issuance of health benefits to members of the organization;

(d) Provides membership opportunities for eligible persons in each county;

(e) Collects annual dues from the members;

(f) Holds regular meetings to further the purposes of the members;

(g) Provides the members with representation on the governing board and committees; and

(h) Contracts with the third-party administrator, referenced in this section, for administration of the health benefit plan.

A health benefit plan described in this section may be sold or solicited only by an insurance producer who is both appointed by an organization meeting the requirements of this section and licensed as an insurance provider to sell or solicit health insurance in accordance with chapter 58-30 .

Before providing health benefits under a self-funded plan, as authorized by this section, an organization shall file a certification with the Division of Insurance, at the time and in the manner directed by the division, verifying that the organization meets the requirements of this section.

The risk assumed by a health benefit plan under such health care benefit coverage must be reinsured by a company authorized to do business in this state. The company providing reinsurance coverage to the plan shall annually file, at the time and in the manner directed by the division, any risk distribution arrangements entered into between the plan and the reinsurance carrier and a signed, certified actuarial statement of plan reserves and the existence of reinsurance coverage.

Any health benefit plan application for coverage and any contract provided to a member must prominently state that the health benefit plan is not insurance, that the plan is not provided by an insurance company, that the plan is not subject to the laws and rules governing insurance, and that the plan is not subject to the jurisdiction of the division.

Source: SL 2021, ch 208, § 1.
S.D. Codified Laws § 58-5A-84 — SD Code / Title 58 / Chapter 5A / Section 58-5A-84
ORSA summary report requirements
Status: in_force

ORSA summary reports shall:

(1) Include a signature of the insurer or insurance group's chief risk officer or other executive having responsibility for the oversight of the insurer's enterprise risk management process attesting to the best of their belief and knowledge that the insurer applies the enterprise risk management process described in the ORSA summary report and that a copy of the report has been provided to the insurer's board of directors or the appropriate committee thereof;

(2) Be prepared consistent with the ORSA guidance manual. Documentation and supporting information shall be maintained and made available upon examination or upon request of the director; and

(3) Be reviewed by the division, and any additional requests for information shall be made using similar procedures currently used in the analysis and examination of multi-state or global insurers and insurance groups.

Source: SL 2017, ch 210, § 5.
S.D. Codified Laws § 58-35-36 — SD Code / Title 58 / Chapter 35 / Section 58-35-36
Single risk defined
Status: in_force

For the purposes of § 58-35-35 , a "single risk" as to insurance against fire and hazards other than windstorm, earthquake, or other catastrophic perils, includes all properties insured by the same insurer which are reasonably susceptible to loss or damage from the same fire or the same occurrence of such other hazard insured against.

Source: SL 1966, ch 111, ch 17, § 4 (2).
S.D. Codified Laws § 58-46-23.1 — SD Code / Title 58 / Chapter 46 / Section 58-46-23.1
Risk management services
Status: in_force

A pure or agency captive insurance company may enter into any arrangement to provide risk management services to a controlled unaffiliated business or an unaffiliated business but may not accept any insurance risk from an unaffiliated business. A trust captive insurance company may enter into any arrangement to provide risk management services to an affiliated entity and may accept insurance risk from an affiliated entity.

Source: SL 2009, ch 272, § 11; SL 2013, ch 257, § 20; SL 2015, ch 257, § 7.
S.D. Codified Laws § 58-15-1 — SD Code / Title 58 / Chapter 15 / Section 58-15-1
Application of chapter
Status: in_force

This chapter applies only to contracts of life insurance and annuities, other than reinsurance, group life insurance, and group annuities.

Source: SL 1966, ch 111, ch 23, § 1.
S.D. Codified Laws § 58-7-2 — SD Code / Title 58 / Chapter 7 / Section 58-7-2
Assets acceptable for deposit of reserves
Status: in_force

Deposits of reserves of a domestic insurer under § 58-7-1 shall consist of securities and assets which the insurer is authorized to hold as admitted assets.

Source: SL 1966, ch 111, ch 7, § 1 (4).
S.D. Codified Laws § 58-11-35 — SD Code / Title 58 / Chapter 11 / Section 58-11-35
Renewal or extension of policy at option of insurer
Status: in_force

Any insurance policy terminating by its terms at a specified expiration date and not otherwise renewable, may be renewed or extended at the option of the insurer and upon a currently authorized policy form and at the premium rate then required therefor, for additional periods by certificate or by endorsement of the policy, and without requiring the issuance of a new policy.

Source: SL 1966, ch 111, ch 22, § 26.
S.D. Codified Laws § 58-15-60 — SD Code / Title 58 / Chapter 15 / Section 58-15-60
Effect of misstatement of age or sex in annuity or endowment contract
Status: in_force

In an annuity or pure endowment contract, other than a reversionary, survivorship, or group annuity, there shall be a provision that if the age or sex of the person upon whose life the contract is made, or if any of them has been misstated, the amount payable or benefits accruing under the contract shall be such as the stipulated payments to the insurer would have purchased according to the correct age or sex and that if the insurer shall make or has made any overpayment on account of any such misstatement, the amount thereof with interest at the rate to be specified in the contract but not exceeding six percent per annum, may be charged against the current or next succeeding payments to be made by the insurer under the contract.

Source: SL 1966, ch 111, ch 23, § 22.
S.D. Codified Laws § 58-44-9 — SD Code / Title 58 / Chapter 44 / Section 58-44-9
Consequences of noncompliance with chapter--Civil action by director
Status: in_force

If the director believes that the controlling broker or any other person has not complied with this chapter, or any regulation or order, the director may order the controlling broker to cease placing business with the controlled insurer or any other conduct in violation of this chapter, or both pursuant to § 58-4-7 . In addition, if it is found that because of noncompliance that the controlled insurer or any policyholder has suffered any loss or damage, the director may maintain a civil action or intervene in an action brought by or on behalf of the insurer or policyholder for recovery of compensatory damages for the benefit of the insurer or policyholder or other appropriate relief.

Source: SL 1992, ch 358, § 9.
S.D. Codified Laws § 58-19-20 — SD Code / Title 58 / Chapter 19 / Section 58-19-20
Time of delivery of individual policy or group certificate
Status: in_force

Each individual policy or group certificate of credit life insurance or credit health insurance shall be delivered to the insured debtor at the time the indebtedness is incurred except as provided in §§ 58-19-21 to 58-19-23 , inclusive.

Source: SL 1966, ch 111, ch 27, § 6 (3).
S.D. Codified Laws § 58-40-16 — SD Code / Title 58 / Chapter 40 / Section 58-40-16
Annual statement of financial condition--Filing--Verification--Form and contents
Status: in_force

Every hospital service plan corporation shall annually on or before the first day of March file with the director a statement verified by at least two of the principal officers of said corporation showing its condition on the thirty - first day of the preceding December; the statement shall be in such form and shall contain such matters as the director shall prescribe.

Source: SL 1966, ch 111, ch 21, § 19.
S.D. Codified Laws § 58-17I-16 — SD Code / Title 58 / Chapter 17I / Section 58-17I-16
Promulgation of rules
Status: in_force

The director, in consultation with the secretary, shall promulgate rules, pursuant to chapter 1-26 , to establish time frames relative to the filing of grievances, the disposition of grievances, and the response to the aggrieved person. Rules may also be promulgated covering definition of terms, grievance procedures, and content of reports.

Source: SL 2011, ch 219, § 88.
S.D. Codified Laws § 58-15-14 — SD Code / Title 58 / Chapter 15 / Section 58-15-14
Automatic premium loan--Provision optional with insurer
Status: in_force

The policy, at the insurer's option, may provide for automatic premium loan and may provide that such provisions do not become operative unless so elected by the party entitled to elect.

Source: SL 1966, ch 111, ch 23, § 9.
S.D. Codified Laws § 58-44-8 — SD Code / Title 58 / Chapter 44 / Section 58-44-8
Notice from controlling broker to prospective insured--Subbroker
Status: in_force

The controlling broker, prior to the effective date of the policy, shall deliver written notice to the prospective insured disclosing the relationship between the controlling broker and the controlled insurer. If the business is placed through a broker who is not a controlling broker, the controlling broker shall retain in his records a signed commitment from the subbroker that the subbroker is aware of the relationship between the insurer and the broker and that the subbroker has or will notify the insured.

Source: SL 1992, ch 358, § 8.
S.D. Codified Laws § 58-22-15 — SD Code / Title 58 / Chapter 22 / Section 58-22-15
Failure of applicant for license to secure approval--Filing of another application
Status: in_force

The failure of the applicant to secure approval of the director shall not preclude him from applying as many times as he desires, but no application shall be considered by the director within one year subsequent to the date upon which the director denied the last application.

Source: SL 1966, ch 111, ch 31, § 5.
S.D. Codified Laws § 58-41-10 — SD Code / Title 58 / Chapter 41 / Section 58-41-10
Appointment to receive process required of foreign applicant
Status: in_force

Each application for a certificate of authority by an applicant not domiciled in this state shall include a power of attorney duly executed by such applicant, appointing the director and his successors in office, and duly authorized deputies, as the true and lawful attorney of such applicant in and for this state upon whom all lawful process in any legal action or proceeding against the health maintenance organization on a cause of action arising in this state may be served.

Source: SL 1974, ch 321, § 6 (9).
S.D. Codified Laws § 58-18B-27 — SD Code / Title 58 / Chapter 18B / Section 58-18B-27
Modification to exclude certain diseases prohibited
Status: in_force

No small employer carrier may modify a health benefit plan with respect to a small employer or any eligible employee or dependent through riders, endorsements, or otherwise, to restrict or exclude coverage for certain diseases or medical conditions otherwise covered by the health benefit plan. A small employer carrier may not establish rules for eligibility for any individual to enroll under a plan, including continued eligibility, based on health status - related factors which include health status, medical condition, claims experience, receipt of health care, medical history, genetic information, evidence of insurability, including conditions arising out of acts of domestic violence, and disability.

Source: SL 1995, ch 281, § 22; SL 1997, ch 289, § 18; SL 1998, ch 289, § 17.
S.D. Codified Laws § 58-15-82 — SD Code / Title 58 / Chapter 15 / Section 58-15-82
Uniform life insurance and annuity request forms--Director to adopt by rule--Insurers to accept
Status: in_force

If a policyholder has made a request to cash surrender, to obtain maximum policy loans, or to make an Internal Revenue Code Section 1035 exchange under a life insurance or an annuity policy, the insurer shall forward to the policyholder or the policyholder's insurance producer, within thirty calendar days of receiving the request for the form, any required form to accomplish such transaction. If the insurer does not do so, the policyholder may utilize a uniform life insurance or annuity form for such purpose. The director shall adopt the uniform life insurance and annuity forms by rules promulgated pursuant to chapter 1-26 . If the insurer has failed to submit its form to the policyholder or the policyholder's insurance producer within the time period required by this section, the insurer shall accept the uniform form as adopted by the director and may not require the use of any additional form.

Source: SL 2002, ch 234, § 1.
S.D. Codified Laws § 58-43-16.9 — SD Code / Title 58 / Chapter 43 / Section 58-43-16.9
Criteria for proportion of audit committee members
Status: in_force

The proportion of independent audit committee members shall meet or exceed the following criteria:

Prior Calendar Year Direct Written and Assumed Premiums

$0--$300,000,000

Over $300,000,000--

Over $500,000,000

$500,000,000

No minimum requirements. See also Note A and B.

Majority (50% or more) of members shall be

Supermajority of members (75% or more) shall be

independent. See also Note

independent. See also Note

A and B.

A.

Note A: The director has authority afforded by state law to require the entity's board to enact improvements to the independence of the audit committee membership if the insurer is in a risk based capital (RBC) action level event, meets one or more of the standards of an insurer deemed to be in hazardous financial condition, or otherwise exhibits qualities of a troubled insurer.

Note B: Any insurer with less than five hundred million in prior year direct written and assumed premiums is encouraged to structure an audit committee with at least a supermajority of independent audit committee members.

Note C: Prior calendar year direct written and assumed premiums shall be the combined total of direct premiums and assumed premiums from nonaffiliates for the reporting entities.

Source: SL 2009, ch 271, § 24, eff. Jan. 1, 2010.
S.D. Codified Laws § 58-40-37 — SD Code / Title 58 / Chapter 40 / Section 58-40-37
Health insurance policies to provide coverage for biologically-based mental illnesses
Status: in_force

Every service or indemnity - type contract issued by a nonprofit hospital service plan corporation that is delivered, issued for delivery, or renewed in this state, except for policies that provide coverage for specified disease or other limited benefit coverage, shall provide, in writing, coverage for the treatment and diagnosis of biologically - based mental illnesses with the same dollar limits, deductibles, coinsurance factors, and restrictions as for other covered illnesses.

The term, biologically - based mental illness, means schizophrenia and other psychotic disorders, bipolar disorder, major depression, and obsessive - compulsive disorder.

Source: SL 1998, ch 291, § 5; SL 1999, ch 251, § 5.
S.D. Codified Laws § 58-41-34 — SD Code / Title 58 / Chapter 41 / Section 58-41-34
Evidence of coverage issued to enrollees
Status: in_force

Every enrollee residing in this state is entitled to evidence of coverage under a health maintenance contract. The health maintenance organization or its designated representative shall issue the evidence of coverage.

Source: SL 1974, ch 321, § 18.
S.D. Codified Laws § 58-17F-13 — SD Code / Title 58 / Chapter 17F / Section 58-17F-13
Sample contract forms to be filed with director--Material changes to be submitted--Certain changes not material--Director's inaction within certain time deemed approval--Contract copies to be provided upon request
Status: in_force

Any health carrier shall file with the director sample contract forms proposed for use with its participating providers and intermediaries. Any health carrier shall submit material changes to a sample contract that would affect a provision required by this chapter, or any rules promulgated pursuant to this chapter, to the director for approval thirty days prior to use. Changes in provider payment rates, coinsurance, copayments, or deductibles, or other plan benefit modifications are not considered material changes for the purpose of this section. If the director takes no action within sixty days after submission of a material change to a contract by a health carrier, the change is deemed approved. The health carrier shall maintain provider and intermediary contracts and provide copies to the division or department upon request.

Source: SL 2011, ch 219, § 13.
S.D. Codified Laws § 58-8-7 — SD Code / Title 58 / Chapter 8 / Section 58-8-7
Acts by unauthorized insurer constituting appointment of director of insurance as agent for service of process
Status: in_force

Any of the following acts in this state, effected by mail or otherwise, by an unauthorized foreign or alien insurer:

(1) The issuance or delivery of contracts of insurance to residents of this state or to corporations authorized to do business therein;

(2) The solicitation of applications for such contracts;

(3) The collection of premiums, membership fees, assessments, or other considerations for such contracts; or

(4) Any other transaction of insurance business;

Source: SL 1966, ch 111, ch 12, § 4.
S.D. Codified Laws § 58-41-22 — SD Code / Title 58 / Chapter 41 / Section 58-41-22
Filing of notice of modification of operation--Approval if not disapproved--Exemptions
Status: in_force

A health maintenance organization shall, unless otherwise provided for in this chapter, file a notice describing any modification of the operation set out in the information required by §§ 58-41-6 to 58-41-10 , inclusive. Such a notice shall be filed with the director prior to the modification. If the director does not disapprove within thirty days of filing, such modification shall be deemed approved. The director may promulgate rules and regulations exempting from the filing requirements of this section those items he deems unnecessary.

Source: SL 1974, ch 321, § 7.
S.D. Codified Laws § 58-28-20 — SD Code / Title 58 / Chapter 28 / Section 58-28-20
Restrictions on transfers between accounts
Status: in_force

No sale, exchange, or other transfer of assets may be made by an insurer between any of its separate accounts or between any other investment account and one or more of its separate accounts unless, in case of a transfer into a separate account, such transfer is made solely to establish the account or to support the operation of the contracts with respect to the separate account to which the transfer is made, and unless such transfer, whether into or from a separate account, is made:

(1) By a transfer of cash; or

(2) By a transfer of securities having a readily determinable market value, provided that such transfer of securities is approved by the director.

The director may approve other transfers among such accounts if, in his opinion, such transfers would not be inequitable.

Source: SL 1966, ch 111, ch 6, § 36 (8); § 36 (6) as amended by SL 1967, ch 131; SDCL, § 58-28-6; SL 1971, ch 266, § 1 (6).
S.D. Codified Laws § 58-29D-26 — SD Code / Title 58 / Chapter 29D / Section 58-29D-26
Conditions not requiring license
Status: in_force

An administrator is not required to hold a license as an administrator in this state if all of the following conditions are met:

(1) The administrator has its principal place of business in another state;

(2) The administrator is not soliciting business as an administrator in this state;

(3) In the case of any group policy or plan of insurance serviced by the administrator and less than one hundred certificate holders reside in this state.

Source: SL 1992, ch 352, § 26.
S.D. Codified Laws § 58-33A-20 — SD Code / Title 58 / Chapter 33A / Section 58-33A-20
Insurer's system for supervising recommendations
Status: in_force

An insurer shall establish and maintain a supervision system that is reasonably designed to achieve compliance with §§ 58-33A-13 to 58-33A-27 , inclusive, including:

(1) The insurer shall establish and maintain reasonable procedures to inform its producers of the requirements of §§ 58-33A-16 to 58-33A-26 , inclusive and shall incorporate the requirements of this regulation into relevant producer training manuals;

(2) The insurer shall establish and maintain standards for producer product training and shall establish and maintain reasonable procedures to require its producers to comply with the requirements of §§ 58-33A-25.1 to 58-33A-25.3 , inclusive;

(3) The insurer shall provide product-specific training and training materials that explain all material features of its annuity products to its producers;

(4) The insurer shall establish and maintain procedures for review of each recommendation prior to issuance of an annuity that are designed to ensure that there is a reasonable basis to determine that the recommended annuity would effectively address the particular consumer's financial situation, insurance needs, and financial objectives. Such review procedures may apply a screening system for the purpose of identifying selected transactions for additional review and may be accomplished electronically or through other means including, physical review. Such an electronic or other system may be designed to require additional review only of those transactions identified for additional review by the selection criteria;

(5) The insurer shall establish and maintain reasonable procedures to detect recommendations that are not in compliance with §§ 58-33A-13 to 58-33A-27 , inclusive. This may include confirmation of consumer profile information, systematic customer surveys, producer and consumer interviews, confirmation letters, producer statements or attestations, and programs of internal monitoring. Nothing in this subdivision prevents an insurer from complying with this subdivision by applying sampling procedures or by confirming consumer profile information or other required information after issuance or delivery of the annuity;

(6) The insurer shall annually provide a written report to senior management, including to the senior manager responsible for audit functions, that details a review, with appropriate testing, reasonably designed to determine the effectiveness of the supervision system, the exceptions found, and corrective action taken or recommended, if any;

(7) The insurer shall establish and maintain reasonable procedures to assess, prior to or upon issuance or delivery of an annuity, whether a producer has provided to the consumer the information required to be provided under this section;

(8) The insurer shall establish and maintain reasonable procedures to identify and address suspicious consumer refusals to provide consumer profile information; and

(9) The insurer shall establish and maintain reasonable procedures to identify and eliminate any sales contests, sales quotas, bonuses, and non-cash compensation that are based on the sales of specific annuities within a limited period of time. The requirements of this subdivision are not intended to prohibit the receipt of health insurance, office rent, office support, retirement benefits, or other employee benefits by employees as long as those benefits are not based upon the volume of sales of a specific annuity within a limited period of time.

Source: SL 2008, ch 273, § 8; SL 2012, ch 250, § 7; SL 2022, ch 186, § 20, eff. Jan. 1, 2023.
S.D. Codified Laws § 58-24-56 — SD Code / Title 58 / Chapter 24 / Section 58-24-56
Filings based on information furnished by noncompliant advisory organization prohibited--Order requiring discontinuance
Status: in_force

No insurer that makes its own filings or any rating organization that submits filings with the division may support its filings by statistics or adopt rate-making recommendations furnished to it by an advisory organization which has not complied with § 58-24-54 or with an order of the director involving statistics or recommendations issued under § 58-24-55 . If the director finds an insurer or rating organization to be in violation of this section the director may issue an order requiring the discontinuance of the violation.

Source: SL 1966, ch 111, ch 15, § 10 (4); SL 2014, ch 239, § 18.
S.D. Codified Laws § 58-6-15 — SD Code / Title 58 / Chapter 6 / Section 58-6-15
Use of deceptively similar name by life insurer prohibited for ten years
Status: in_force

No life insurer shall be authorized to transact insurance in this state which has or uses a name deceptively similar to that of another insurer authorized to transact insurance in this state within the preceding ten years if life insurance policies originally issued by such other insurer are still outstanding in this state.

Source: SL 1966, ch 111, ch 3, § 8 (2).
S.D. Codified Laws § 58-15-96 — SD Code / Title 58 / Chapter 15 / Section 58-15-96
Comparison of policies, annuity contracts, and retained asset accounts against DMF
Status: in_force

As of January 1, 2019, an insurer shall have compared all in-force policies, annuity contracts, and retained asset accounts at the time of enactment against the full DMF to identify potential matches of its insureds.

Source: SL 2018, ch 280, § 3.
S.D. Codified Laws § 58-41-123 — SD Code / Title 58 / Chapter 41 / Section 58-41-123
Notice by risk bearing entity of change in conditions--Assignment of contract
Status: in_force

A health maintenance organization shall require in any contract with a risk bearing entity that the risk bearing entity provide notice to the health maintenance organization within thirty days of:

(1) Any changes involving the ownership structure of the risk bearing entity; or

(2) Financial or operational concerns regarding the financial viability of the risk bearing entity.

A health maintenance organization shall also require in any contract with a risk bearing entity a provision that allows the director, in the event that a risk bearing entity fails to comply with any provision of §§ 58-41-120 to 58-41-126 , inclusive, to assign for six months, the risk bearing entity's contract with providers to furnish covered services.

Source: SL 2013, ch 256, § 38.
S.D. Codified Laws § 58-29B-75 — SD Code / Title 58 / Chapter 29B / Section 58-29B-75
Lien by legal or equitable proceedings--Superiority to rights of transferee
Status: in_force

A lien obtainable by legal or equitable proceedings could become superior to the rights of a transferee, or a purchaser could obtain rights superior to the rights of a transferee within the meaning of §§ 58-29B-69 to 58-29B-72 , inclusive, if such consequences would follow only from the lien or purchase itself, or from the lien or purchaser, with or without the aid of ministerial action by public officials. Such a lien could not, however, become superior and such a purchase could not create superior rights for the purpose of §§ 58-29B-69 to 58-29B-72 , inclusive, through any acts subsequent to the obtaining of such a lien or subsequent to such a purchase which require the agreement or concurrence of any third party or which require any further judicial action or ruling.

Source: SL 1989, ch 436, § 75.
S.D. Codified Laws § 58-18-52.1 — SD Code / Title 58 / Chapter 18 / Section 58-18-52.1
Political subdivisions permitted to join with health insurance purchasing organizations
Status: in_force

Any political subdivision of the state may join with other organizations which are not political subdivisions of the state to operate as an organization formed under § 58-18-52 for the purpose of purchasing health insurance pursuant to the provisions in §§ 58-18-52 to 58-18-62 , inclusive, and reducing costs to local government.

Source: SL 2012, ch 246, § 1.
S.D. Codified Laws § 58-11-76 — SD Code / Title 58 / Chapter 11 / Section 58-11-76
Construction with other time periods
Status: in_force

If a rate filing or marketing material is required to be filed or approved for a specific policy form, the time frames for review, approval or disapproval, resubmission, and re-review of those rates or materials shall be the same as those provided in §§ 58-11-64 to 58-11-76 , inclusive, for the review of policy forms.

Source: SL 2008, ch 261, § 13.
S.D. Codified Laws § 58-5-1 — SD Code / Title 58 / Chapter 5 / Section 58-5-1
Scope of chapter
Status: in_force

This chapter shall apply only to domestic stock insurers and domestic mutual insurers transacting or proposing to transact insurance on the cash premium or legal reserve plan, except that §§ 58-5-27 , 58-5-28 , 58-5-37 , and 58-5-38 shall also apply to foreign and alien insurers.

Source: SL 1966, ch 111, ch 16, § 1.
S.D. Codified Laws § 58-17K-11 — SD Code / Title 58 / Chapter 17K / Section 58-17K-11
Plan years effective
Status: in_force

The provisions of § 58-17K-5 are effective for plan years beginning on or after January 1, 2022. The provisions of §§ 58-17K-2 to 58-17K-4 , inclusive, are effective for plan years beginning on or after January 1, 2024.

Source: SL 2021, ch 213, § 11.
S.D. Codified Laws § 58-5-131 — SD Code / Title 58 / Chapter 5 / Section 58-5-131
Filing and hearing on consolidation or merger plan--Grounds for disapproval
Status: in_force

No such merger or consolidation shall go into effect until the plan and agreement therefor is filed with the director and approved by him after a hearing thereon. Such plan and agreement shall be approved by the director within a reasonable time unless he finds such plan or agreement:

(1) Is contrary to law; or

(2) Is inequitable to the policyholders of any domestic insurer involved; or

(3) Would substantially reduce the security of and service to be rendered to policyholders of the domestic insurer.

Source: SL 1966, ch 111, ch 16, § 38 (2).
S.D. Codified Laws § 58-35-78 — SD Code / Title 58 / Chapter 35 / Section 58-35-78
Annual audit--Independent audit--Report--Extension
Status: in_force

Any farm mutual insurer having direct premiums written in this state of more than two million dollars in any calendar year and more than two thousand policyholders or certificate holders of directly written policies nationwide at the end of a calendar year shall have an annual audit by an accountant of the financial statements reporting the financial position and the results of operations. This section also applies to insurers having assumed premiums pursuant to contracts or treaties of reinsurance of two million dollars or more. The director may require insurers with less than two million dollars in direct premiums and less than two thousand policyholders or certificate holders to have independent audits to determine the financial status of the insurer.

The insurer shall file an audited financial report with the director on or before June first for the year that ended on the immediately preceding December thirty-first. The director may require an insurer to file an audited financial report earlier than June first with ninety days advance notice to the insurer.

Extensions of the June first filing date may be granted by the director for thirty-day periods upon a showing by the insurer and its accountant to the director that there is good cause for an extension. The request for extension shall be submitted in writing to the director not less than ten days prior to the due date in sufficient detail to permit the director to make an informed decision.

Source: SL 2008, ch 274, § 2.
S.D. Codified Laws § 58-24-50 — SD Code / Title 58 / Chapter 24 / Section 58-24-50
Deviations to be uniform within class
Status: in_force

As to all forms of casualty insurance, including workers' compensation or any combination thereof, no application shall be granted under § 58-24-51 unless the requested deviation is based upon a uniform percentage decrease or increase to be applied to the premiums produced by such rating system, as filed, for a kind of insurance or for a class of insurance which is found by the director to be a proper rating unit for the application of such uniform percentage decrease or increase, or for a subdivision of a kind of insurance comprised of a group of manual classifications which are treated as a separate unit for rate - making purposes or for which separate expense provisions are included in the filings of the rating organization.

Source: SL 1966, ch 111, ch 15, § 3 (2).
S.D. Codified Laws § 58-24-70 — SD Code / Title 58 / Chapter 24 / Section 58-24-70
Exemption from rate and form filing requirements for policy issued to exempt commercial policyholder--Disclosure requirements
Status: in_force

An insurer issuing a policy to an exempt commercial policyholder is exempt, except as provided for in §§ 58-24-68 to 58-24-74 , inclusive, from the rate filing requirements of chapter 58-24 and the form filing requirements of § 58-11-12 . At the time of soliciting an exempt commercial policyholder to purchase insurance, the insurance producer, or the insurer in the case of a direct procurement from the insurer, shall disclose to the policyholder and the policyholder's risk manager, on a form created by the insurer, that a premium or rate may be quoted or a policy form may be used that is not subject to the rate and form filing requirements of the Division of Insurance.

Source: SL 2004, ch 307, § 3.
S.D. Codified Laws § 58-34-36 — SD Code / Title 58 / Chapter 34 / Section 58-34-36
Contingent assessment liability of subscriber
Status: in_force

Except as to a nonassessable policy, each subscriber shall have a contingent assessment liability, in the amount provided for in the power of attorney or in the subscribers' agreement, for payment of actual losses and expenses incurred while his policy was in force. Such contingent liability may be at the rate of not less than one nor more than ten times the premium or premium deposit stated in the policy, and the maximum aggregate thereof shall be computed in the manner set forth in § 58-34-43 .

Source: SL 1966, ch 111, ch 19, § 21 (2).
S.D. Codified Laws § 58-27-92 — SD Code / Title 58 / Chapter 27 / Section 58-27-92
Multiple obligations in same institution
Status: in_force

Notwithstanding the requirements of §§ 58-27-89 and 58-27-90 , a domestic insurer may acquire an obligation of an institution in which the insurer already has one or more obligations, if the obligation is acquired in order to protect an investment previously made in the obligations of the institution, provided that all acquired obligations may not exceed one - half of one percent of the insurer's admitted assets.

Source: SL 1992, ch 350, § 4.
S.D. Codified Laws § 58-5-159 — SD Code / Title 58 / Chapter 5 / Section 58-5-159
Applicability of federal Bankruptcy Code
Status: in_force

Notwithstanding the other provisions of chapter 58-29B , for the purposes of determining:

(1) If a qualified education loan insurer has, in any transaction involving the transfer of any education loans or other assets, sold such education loans or other assets or pledged such education loans or other assets to secure indebtedness of the qualified education loan insurer; and

(2) If a wholly owned subsidiary of a qualified education loan insurer shall be treated as a separate entity, distinct from the qualified education loan insurer, or the subsidiary's assets and liabilities shall be consolidated with the assets and liabilities of the qualified education loan insurer;

Source: SL 1998, ch 287, § 6.
S.D. Codified Laws § 58-17-88 — SD Code / Title 58 / Chapter 17 / Section 58-17-88
Minimum inpatient care coverage following delivery
Status: in_force

If a health insurance policy that is issued or renewed on or after July 1, 1996, provides maternity coverage, the policy shall provide coverage for a minimum of forty - eight hours of inpatient care following a vaginal delivery and a minimum of ninety - six hours of inpatient care following delivery by cesarean section for a mother and her newborn child in a health care facility licensed pursuant to chapter 34-12 , except as otherwise provided in § 58-17-89 . Any policy that provides coverage for complications of pregnancy, and does not provide other maternity benefits, is not required to comply with this section.

Source: SL 1996, ch 292, § 1; SL 1998, ch 290, § 1.
S.D. Codified Laws § 58-35-43 — SD Code / Title 58 / Chapter 35 / Section 58-35-43
Rates--Filing with director not required--Discrimination prohibited
Status: in_force

A farm mutual insurer is not required to file any of its insurance rates with the director. No such rate shall discriminate between subjects of insurance having substantially the same insuring, exposure, and underwriting characteristics.

Source: SL 1966, ch 111, ch 17, § 28.
S.D. Codified Laws § 58-3-3.1 — SD Code / Title 58 / Chapter 3 / Section 58-3-3.1
Examination assessment fee--Insurance examination fund established for proceeds
Status: in_force

Any insurer subject to chapter 58-3 shall pay to the Division of Insurance an annual examination assessment fee of three hundred dollars by March first of each year. There is established within the state treasury the insurance examination fund, into which shall be deposited the proceeds from the examination assessment fees. If the director determines that additional fees are needed to meet the anticipated needs of the examination fund, the director may increase the annual examination assessment fee or levy additional examination assessment fees of up to one hundred fifty dollars per insurer whenever the insurance examination fund falls below fifty thousand dollars. However, the director may not increase the annual examination fee to an amount exceeding one thousand dollars.

Source: SL 1997, ch 283, § 1; SL 2011, ch 213, § 1.
S.D. Codified Laws § 58-12-6 — SD Code / Title 58 / Chapter 12 / Section 58-12-6
Exemption of annuity contract benefits, rights, privileges, and options from execution
Status: in_force

The benefits, rights, privileges, and options which under any annuity contract heretofore or hereafter issued are due or prospectively due the annuitant, shall not be subject to execution nor shall the annuitant be compelled to exercise any such rights, powers, or options, nor shall creditors be allowed to interfere with or terminate the contract, except as provided by §§ 58-12-7 to 58-12-9 , inclusive.

Source: SL 1966, ch 111, ch 22, § 32 (1).
S.D. Codified Laws § 58-33-109 — SD Code / Title 58 / Chapter 33 / Section 58-33-109
Defenses available to person who acts according to written advice of MEWA contact
Status: in_force

A licensee or other person who acts according to the written advice of the MEWA contact has a defense to any violation of §§ 58-33-103 to 58-33-108 , inclusive, if the information provided by the licensee or other person to the MEWA contact, to the extent material to the MEWA contact's advice, is accurate and complete.

For the purpose of §§ 58-33-93 to 58-33-116 , inclusive, the division's published list of admitted insurers on its web site is deemed to be accurate. A licensee or other person has a defense to any allegation that a listed insurer is not an admitted insurer. Nothing in §§ 58-33-93 to 58-33-116 , inclusive, requires a licensee or other person to notify the division of an unauthorized product or insurer if that licensee or person has reviewed the division's website and the unauthorized insurer is listed as an admitted insurer.

Source: SL 2007, ch 292, § 17.
S.D. Codified Laws § 58-16-28 — SD Code / Title 58 / Chapter 16 / Section 58-16-28
Maximum amount repayable in installments to creditor--Duration of insurance--Limited to amount of unpaid indebtedness
Status: in_force

The amount of insurance under § 58-16-23 on the life of any debtor shall at no time exceed the amount owed by him which is repayable in installments to the creditor. Where the indebtedness is repayable in one sum to the creditor, the insurance on the life of any debtor shall in no instance be in effect for a period in excess of eighteen months except that such insurance may be continued for an additional period not exceeding six months in the case of default, extension or recasting of the loan. The amount of the insurance on the life of any debtor shall at no time exceed the amount of the unpaid indebtedness.

Source: SL 1966, ch 111, ch 24, § 1 (2) (d).
S.D. Codified Laws § 58-17-28 — SD Code / Title 58 / Chapter 17 / Section 58-17-28
Physical examination of insured--Autopsy in death claims--Provision required in policy
Status: in_force

There shall be a provision as follows: "Physical examinations and autopsy: The insurer at its own expense shall have the right and opportunity to examine the person of the insured when and as often as it may reasonably require during the pendency of a claim hereunder and to make an autopsy in case of death where it is not forbidden by law."

Source: SL 1966, ch 111, ch 25, § 13.
S.D. Codified Laws § 58-15-34 — SD Code / Title 58 / Chapter 15 / Section 58-15-34
Paid-up nonforfeiture benefits--Default in payment of premium
Status: in_force

Any paid - up nonforfeiture benefit available under the policy in the event of default in a premium payment due on any policy anniversary shall be such that its present value as of such anniversary shall be at least equal to the cash surrender value then provided for by the policy or, if none is provided for, that cash surrender value which would have been required by § 58-15-33 in the absence of the condition that premiums shall have been paid for at least a specified period.

Source: SL 1966, ch 111, ch 23, § 28 (4).
S.D. Codified Laws § 58-30-10 — SD Code / Title 58 / Chapter 30 / Section 58-30-10
Rights of insurance producer after termination of appointment inapplicable to employer and employee relationship
Status: in_force

The provisions of § 58-30-9 do not apply as to any insurer and insurance producer between whom the relationship of employer and employee exists.

Source: SL 1966, ch 111, ch 9, § 22 (2); SL 2001, ch 286, § 161.
S.D. Codified Laws § 58-43-9.5 — SD Code / Title 58 / Chapter 43 / Section 58-43-9.5
Preapproval of auditing and nonaudit services by audit committee--SOX compliant entities
Status: in_force

Any auditing services or nonaudit services provided to an insurer by the qualified independent certified public accountant of the insurer shall be preapproved by the audit committee. This preapproval requirement is waived with respect to nonaudit services if the insurer is a SOX compliant entity or a direct or indirect wholly-owned subsidiary of a SOX compliant entity or:

(1) The aggregate amount of all such nonaudit services provided to the insurer constitutes not more than five percent of the total amount of fees paid by the insurer to its qualified independent certified public accountant during the fiscal year in which the nonaudit services are provided;

(2) The services were not recognized by the insurer at the time of the engagement to be nonaudit services; and

(3) The services are promptly brought to the attention of the audit committee and approved prior to the completion of the audit by the audit committee or by one or more members of the audit committee who are the members of the board of directors to whom authority to grant such approvals has been delegated by the audit committee.

Source: SL 2009, ch 271, § 11.
S.D. Codified Laws § 58-29B-93 — SD Code / Title 58 / Chapter 29B / Section 58-29B-93
Enforcement of order or judgment under §58-29B-92
Status: in_force

The liquidator may enforce any order or collect any judgment under § 58-29B-92 , by any lawful means.

Source: SL 1989, ch 436, § 93.
S.D. Codified Laws § 58-15-83 — SD Code / Title 58 / Chapter 15 / Section 58-15-83
Plans excluded from application of §§58-15-83to58-15-93, inclusive
Status: in_force

Sections 58-15-83 to 58-15-93 , inclusive, do not apply to any reinsurance, group annuity purchased under a retirement plan or plan of deferred compensation established or maintained by an employer (including a partnership or sole proprietorship) or by an employee organization, or by both, other than a plan providing individual retirement accounts or individual retirement annuities under Section 408 of the Internal Revenue Code, as amended to January 1, 1977, premium deposit fund, variable annuity, investment annuity, immediate annuity, any deferred annuity contract after annuity payments have commenced, or reversionary annuity, nor to any contract which shall be delivered outside this state through an agent or other representative of the company issuing the contract.

Source: SL 2004, ch 299, § 2.
S.D. Codified Laws § 58-5A-96 — SD Code / Title 58 / Chapter 5A / Section 58-5A-96
Group capital calculation required
Status: in_force

Notwithstanding the provisions of subdivisions 58-5A-95 (3) and (4), if this state is considered the lead state, the director must require the filing of the group capital calculation for U.S. operations for any non-U.S. based insurance holding company system where, after any necessary consultation with other supervisors or officials, it is deemed appropriate by the director for prudential oversight and solvency monitoring purposes or for ensuring the competitiveness of the insurance marketplace.

Source: SL 2024, ch 201, § 9.
S.D. Codified Laws § 58-16-12 — SD Code / Title 58 / Chapter 16 / Section 58-16-12
Industry fund groups--Insurance of employees or members of unions
Status: in_force

A policy of group life insurance may be issued to the trustees of a fund established by two or more employers in the same industry, or in related industries, or by one or more labor unions, or by one or more employers and one or more labor unions, which trustees shall be deemed the policyholder, to insure employees of the employers or members of the unions for the benefit of persons other than the employers or the unions, subject to the requirements of §§ 58-16-13 to 58-16-17 , inclusive.

Source: SL 1966, ch 111, ch 24, § 1 (4); SL 1974, ch 314.
S.D. Codified Laws § 58-15-32 — SD Code / Title 58 / Chapter 15 / Section 58-15-32
Nonforfeiture benefit provisions which may be omitted--Deferred payment of cash surrender value--Private placement policies
Status: in_force

Any of the provisions or portions thereof set forth in § 58-15-31 which are not applicable by reason of the plan of insurance may, to the extent inapplicable, be omitted from the policy. Except for a private placement policy, the insurer shall reserve the right to defer the payment of any cash surrender value for a period of six months after demand therefor with surrender of the policy. In the case of a private placement policy, the insurer may reserve the right to defer the payment of cash surrender value until the separate account assets comprising such cash surrender value can be, by their respective terms, converted to cash, which may be greater than six months after the surrender of the policy and demand for payment of such cash surrender value.

Source: SL 1966, ch 111, ch 23, § 28 (2); SL 2006, ch 252, § 6.
S.D. Codified Laws § 58-29A-80 — SD Code / Title 58 / Chapter 29A / Section 58-29A-80
Exemption or deferment of assessments to avoid impairment of capital or surplus
Status: in_force

The association may exempt or defer, in whole or in part, the assessment of any member insurer, if the assessment would cause the member insurer's financial statement to reflect amounts of capital or surplus less than the minimum amounts required for a certificate of authority by any jurisdiction in which the member insurer is authorized to transact insurance . However, during the period of deferment, no dividends may be paid to shareholders or policyholders. Deferred assessments shall be paid when such payment will not reduce capital or surplus below required minimums. Such payments shall be refunded to those companies receiving larger assessments by virtue of the deferment, or at the election of any such company, credited against future assessments.

Source: SL 2000, ch 247, § 27.
S.D. Codified Laws § 58-18B-36 — SD Code / Title 58 / Chapter 18B / Section 58-18B-36
Rules governing implementation and administration of this chapter
Status: in_force

The director shall promulgate rules pursuant to chapter 1-26 to provide for the implementation and administration of this chapter. The rules shall cover:

(1) Terms of renewability;

(2) Initial and subsequent conditions of eligibility;

(3) Probationary periods;

(4) Benefit limitations, exceptions and reductions;

(5) Requirements for replacement;

(6) Participation and contribution requirements;

(7) Definition of terms;

(8) Marketing practices;

(9) Reporting and disclosure practices or requirements;

(10) Compensation arrangements between insurers or other entities and their agents, representatives, or producers;

(11) Guaranteed acceptance of small groups by small group carriers;

(12) Continuation and conversion rights; and

(13) Group discontinuance and replacement.

The director may promulgate rules pursuant to chapter 1-26 that specify prohibited policy or certificate provisions not otherwise specifically authorized by statute which, in the opinion of the director, are unjust, unfair, or unfairly discriminatory to any person insured or proposed for coverage under a policy or certificate. If any federal standards are in place which would require additional steps to meet those standards beyond what is required by this chapter, the director may promulgate rules to require the offering of health insurance plans, in addition to those specifically required by § 58-18B-20 , the underwriting criteria that may be utilized for such health insurance plans, and other requirements related to the availability of health insurance to individuals in this state in order to minimally meet the federal standards.

Source: SL 1995, ch 281, § 31; SL 1997, ch 289, § 21; SL 1998, ch 289, § 19.
S.D. Codified Laws § 58-29A-99 — SD Code / Title 58 / Chapter 29A / Section 58-29A-99
Association's statements of claims paid filed with receiver or liquidator
Status: in_force

The association shall periodically file with the receiver or liquidator of the insolvent insurer statements of the covered claims paid by the association and estimates of anticipated claims on the association which shall preserve the rights of the association against the assets of the insolvent insurer.

Source: SL 2000, ch 247, § 46.
S.D. Codified Laws § 58-26-91 — SD Code / Title 58 / Chapter 26 / Section 58-26-91
Minimum standard of valuation for policies issued on or after operative date of valuation manual
Status: in_force

For policies issued on or after the operative date of the valuation manual, the standard prescribed in the valuation manual is the minimum standard of valuation required pursuant to § 58-26-45.1 , except as provided pursuant to § 58-26-95 or 58-26-97 .

Source: SL 2015, ch 254, § 25.
S.D. Codified Laws § 58-18-15 — SD Code / Title 58 / Chapter 18 / Section 58-18-15
Blanket health insurance for institutions of learning, camps, or sponsors
Status: in_force

Blanket health insurance may be under a policy or contract issued to a school, or other institution of learning, camp or sponsor thereof; or to the head or principal thereof, who or which shall be deemed the policyholder, covering students or campers. Supervisors and employees may be included.

Source: SL 1966, ch 111, ch 26, § 4 (3).
S.D. Codified Laws § 58-16-45 — SD Code / Title 58 / Chapter 16 / Section 58-16-45
Computation of interest
Status: in_force

Interest payable pursuant to § 58-16-44 shall be computed from the date of death of the insured until the date of payment and shall be at the rate of four percent per annum or not less than the current rate of interest on death proceeds left on deposit with the insurer under an interest settlement option, whichever rate is greater.

Source: SL 1987, ch 375, § 2.
S.D. Codified Laws § 58-41-51.3 — SD Code / Title 58 / Chapter 41 / Section 58-41-51.3
Continuation and conversion coverage to be offered
Status: in_force

At the time of negotiation of any health maintenance contract, the health maintenance organization shall offer, in writing, to provide the coverage prescribed by §§ 58-18-7.5 to 58-18-7.15 , inclusive.

Source: SL 1985, ch 393, § 13.
S.D. Codified Laws § 58-20-10 — SD Code / Title 58 / Chapter 20 / Section 58-20-10
Notice to either employer or insurer--Required policy provision
Status: in_force

Every policy issued by any corporation, association or organization to assure the payment of compensation under the provisions of the title "Workers' Compensation" shall contain a clause providing that, as between any employer and the insurer, notice or knowledge of the occurrence of injury or death on the part of the insured shall be notice or knowledge on the part of the insurer; and jurisdiction of the insured for the purpose of this chapter shall be jurisdiction of the insurer, and the insurer shall be bound by every agreement, adjudgment, award, or judgment rendered against the insured.

Source: SL 1966, ch 111, ch 29, § 8.
S.D. Codified Laws § 58-18B-11 — SD Code / Title 58 / Chapter 18B / Section 58-18B-11
Health maintenance organization considered separate carrier
Status: in_force

An affiliated carrier that is a health maintenance organization having a certificate of authority under chapter 58-41 may be considered to be a separate carrier for the purposes of this chapter.

Source: SL 1995, ch 281, § 4.
S.D. Codified Laws § 58-15-28 — SD Code / Title 58 / Chapter 15 / Section 58-15-28
Industrial life policy--Payment of benefits
Status: in_force

An industrial life policy may also provide that if the beneficiary designated in the policy does not make a claim under the policy or does not surrender the policy with due proof of death within the period stated in the policy, which shall not be less than thirty days after the death of the insured, or if the beneficiary is the estate of the insured, or is a minor, or dies before the insured, or is not legally competent to give a valid release, then the insurer may make any payment thereunder to the personal representative of the insured, or to any relative of the insured by blood or legal adoption or connection by marriage, or to any person appearing to the insurer to be equitably entitled thereto by reason of having been named beneficiary, or by reason of having incurred expense for the maintenance, medical attention or burial of the insured. The policy may also include a similar provision applicable to any other payment due under the policy.

Source: SL 1966, ch 111, ch 23, § 15; SL 1995, ch 167, § 188.
S.D. Codified Laws § 58-14-16.9 — SD Code / Title 58 / Chapter 14 / Section 58-14-16.9
Security required for domestic ceding insurer to qualify for full financial statement credit for reinsurance ceded to certified reinsurer
Status: in_force

In order for a domestic ceding insurer to qualify for full financial statement credit for reinsurance ceded to a certified reinsurer, the certified reinsurer shall maintain security in a form acceptable to the director and consistent with § 58-14-16 , or in a multibeneficiary trust in accordance with § 58-14-11 , except as otherwise provided in §§ 58-14-16.8 to 58-14-16.13 , inclusive.

Source: SL 2017, ch 211, § 20.
S.D. Codified Laws § 58-24-28 — SD Code / Title 58 / Chapter 24 / Section 58-24-28
Information to be furnished insureds
Status: in_force

Every rating organization and every insurer which makes its own rates shall, within a reasonable time after receiving written request therefor and upon payment of such reasonable charge as it may make, furnish to any insured affected by a rate made by it, or to the authorized representative of such insured, all pertinent information as to such rate.

Source: SL 1966, ch 111, ch 15, § 9.
S.D. Codified Laws § 58-18-23 — SD Code / Title 58 / Chapter 18 / Section 58-18-23
Forms for filing proof of loss--Failure of insurer to furnish, submission of written proof
Status: in_force

Subject to § 58-18-20 , every blanket health insurance policy shall contain a provision that the insurer will furnish to the policyholder such forms as are usually furnished by it for filing proof of loss. If such forms are not furnished before the expiration of fifteen days after the giving of such notice, the claimant shall be deemed to have complied with the requirements of the policy as to proof of loss upon submitting within the time fixed in the policy for filing proof of loss, written proof covering the occurrence, character and extent of the loss for which claim is made.

Source: SL 1966, ch 111, ch 26, § 5 (3).
S.D. Codified Laws § 58-5-79 — SD Code / Title 58 / Chapter 5 / Section 58-5-79
Management of domestic insurers during national emergency--Continuity, means for facilitating
Status: in_force

The specific purpose of §§ 58-5-80 to 58-5-84 , inclusive, is to facilitate the continued operation of all domestic insurers in the event a national emergency makes it impossible or impracticable for an insurer to conduct its business in strict accord with applicable provisions of law, its bylaws, or its charter.

Source: SL 1966, ch 111, ch 16, § 43 (1).
S.D. Codified Laws § 58-34-47 — SD Code / Title 58 / Chapter 34 / Section 58-34-47
Extinguishment of contingent liability of all subscribers required for authorization of nonassessable policies
Status: in_force

The director shall not authorize a domestic reciprocal insurer so to extinguish the contingent liability of any of its subscribers or in any of its policies to be issued, unless it qualifies to and does extinguish such liability of all its subscribers and in all such policies for all kinds of insurance transacted by it. Except, that if required by the laws of another state in which the insurer is transacting insurance as an authorized insurer, the insurer may issue policies providing for the contingent liability of such of its subscribers as may acquire such policies in such state, and need not extinguish the contingent liability applicable to policies theretofore in force in such state.

Source: SL 1966, ch 111, ch 19, § 26 (3).
S.D. Codified Laws § 58-20-39 — SD Code / Title 58 / Chapter 20 / Section 58-20-39
Self-insurance association not an insurance company
Status: in_force

Notwithstanding any other provision of law to the contrary, any association organized pursuant to §§ 58-20-25 to 58-20-40 , inclusive, is not an insurance company or insurer under the laws of this state; any agreement forming an association does not constitute insurance or the conduct of an insurance business; and no association organized pursuant to §§ 58-20-25 to 58-20-40 , inclusive, may be a member of the South Dakota Insurance Guaranty Association.

Source: SL 1995, ch 282, § 15.
S.D. Codified Laws § 58-17-157 — SD Code / Title 58 / Chapter 17 / Section 58-17-157
Coverage for applied behavior analysis for treatment of autism spectrum disorders
Status: in_force

Every policy, contract, certificate, or plan subject to the provisions of §§ 58-17-154 to 58-17-162 , inclusive, shall provide coverage for applied behavior analysis for the treatment of autism spectrum disorders consistent with §§ 58-17-154 to 58-17-162 , inclusive.

Source: SL 2015, ch 250, § 4.
S.D. Codified Laws § 58-30-197 — SD Code / Title 58 / Chapter 30 / Section 58-30-197
Rental car insurance--Definition of terms
Status: in_force

Terms used in this section and §§ 58-30-198 to 58-30-208 , inclusive, mean:

(1) "Director," the director of insurance;

(2) "Endorsee," an unlicensed employee or agent of a rental car agent who offers, sells, or solicits rental car insurance and meets the requirements of §§ 58-30-198 to 58-30-208 , inclusive;

(3) "Rental agreement," any written master, corporate, group, or individual agreement setting forth the terms and conditions governing the use of a rental car rented or leased by a rental car company;

(4) "Rental car," any motor vehicle that is intended to be rented for a period of twenty-eight consecutive days or less, by a driver who is not required to possess a commercial driver's license to operate the motor vehicle and the motor vehicle is either of the following:

(a) A private passenger motor vehicle, including a passenger van, minivan, or sports utility vehicle; or

(b) A cargo vehicle, including a cargo van, pickup truck, or truck with a gross vehicle weight of less than twenty-six thousand pounds;

(5) "Rental car agent," any company that is licensed to offer, sell, or solicit rental car insurance pursuant to §§ 58-30-198 to 58-30-208 , inclusive;

(6) "Rental car company," any person in the business of providing rental cars to the public, including a franchisee;

(7) "Renter," any person who executes a rental agreement to obtain the use of a vehicle from a rental car company.

Source: SL 2001, ch 272, § 1; SDCL § 58-9-34 ; SL 2010, ch 233, § 2.
S.D. Codified Laws § 58-27-9 — SD Code / Title 58 / Chapter 27 / Section 58-27-9
Obligations of United States or Canada
Status: in_force

An insurer may invest in bonds, notes, warrants, and other evidences of indebtedness which are direct obligations of the United States of America or of Canada or for which the full faith and credit of the United States of America or of Canada is pledged for the payment of principal and interest.

Source: SL 1966, ch 111, ch 6, § 6.
S.D. Codified Laws § 58-1-29 — SD Code / Title 58 / Chapter 1 / Section 58-1-29
Delivery by electronic transmission equivalent to other delivery methods
Status: in_force

Delivery of a notice or document in accordance with the provisions of §§ 58-1-27 to 58-1-39 , inclusive, is equivalent to any delivery method required under applicable law.

Source: SL 2014, ch 230, § 3.
S.D. Codified Laws § 58-32-24 — SD Code / Title 58 / Chapter 32 / Section 58-32-24
Ineligibility of surplus line insurer because of financial condition--Order of director--Grounds
Status: in_force

The insurer with which surplus line insurance is placed shall be in compliance with either subdivision 58-32-22(1), (2), or (3) and not be ineligible as a surplus line insurer by order of the director received by or known to the broker. The director may issue such an order of ineligibility if the director finds, after a hearing conducted pursuant to chapter 1-26 , that the insurer:

(1) Does not meet the requirements of §§ 58-32-21 to 58-32-25 , inclusive;

(2) Has without just cause refused to pay claims arising under its contracts in the United States or has otherwise conducted its affairs in such manner as to result in injury or loss to the insuring public of the United States;

(3) Has failed to file the annual statement required in § 58-32-16.1 ;

(4) Has failed to provide information within twenty days of a request from the division;

(5) Has utilized surplus lines brokers who were not properly licensed in this state; or

(6) Has failed, within thirty days after notice, to provide the name of the broker that placed the insurance and the name of the insured.

Source: SL 1966, ch 111, ch 11, § 6 (2) (d); SL 1990, ch 407, § 3; SL 2000, ch 249, § 1; SL 2002, ch 243, § 1.
S.D. Codified Laws § 58-17H-18 — SD Code / Title 58 / Chapter 17H / Section 58-17H-18
Program to be administered by qualified licensed health care professionals
Status: in_force

Qualified licensed health care professionals shall administer the utilization review program and oversee review decisions. Any adverse determination shall be evaluated by an appropriately licensed and clinically qualified health care provider.

Source: SL 2011, ch 219, § 43.
S.D. Codified Laws § 58-41-98 — SD Code / Title 58 / Chapter 41 / Section 58-41-98
Coverage for phenylketonuria
Status: in_force

Every health maintenance contract that is delivered, issued for delivery, or renewed in this state, except for policies that provide coverage for specified disease or other limited benefit coverage, shall offer coverage for testing, diagnosis, and treatment of phenylketonuria including dietary management, formulas, case management, intake and screening, assessment, comprehensive care planning, and service referral.

Source: SL 1992, ch 348, § 6.
S.D. Codified Laws § 58-33-75 — SD Code / Title 58 / Chapter 33 / Section 58-33-75
Definitions
Status: in_force

Terms used in §§ 58-33-76 to 58-33-82 , inclusive, mean:

(1) "Authorized agency," the Department of Labor and Regulation, the attorney general, any state's attorney, any duly constituted criminal investigative department or agency of the United States, and any county or municipal law enforcement agency having investigative jurisdiction; and

(2) "False or fraudulent claim, statement, or representation," any act of insurance fraud as defined by § 58-33-37 .

Source: SL 1993, ch 368, § 1; SL 2004, ch 17, § 308; SL 2011, ch 1 (Ex. Ord. 11-1 ), § 162, eff. Apr. 12, 2011.
S.D. Codified Laws § 58-30-214 — SD Code / Title 58 / Chapter 30 / Section 58-30-214
Registered travel retailers authorized to offer and disseminate travel insurance and receive compensation
Status: in_force

Notwithstanding any other provision of law, a travel retailer whose activities related to insurance, and those of its employees and authorized representatives, are limited to offering and disseminating travel insurance on behalf of and under the direction of a limited lines travel insurance producer meeting the conditions stated in §§ 58-30-209 to 58-30-218 , inclusive, is authorized to do so and receive related compensation for such services, upon registration by the limited lines travel insurance producer as described in subdivision 58-30-211(2).

Source: SL 2014, ch 241, § 10.
S.D. Codified Laws § 58-29D-18 — SD Code / Title 58 / Chapter 29D / Section 58-29D-18
Compensation of administrator
Status: in_force

An administrator may not enter into any agreement or understanding with an insurer in which the effect is to make the amount of the administrator's commissions, fees, or charges contingent upon savings effected in the adjustment, settlement, and payment of losses covered by the insurer's obligations. This section may not prevent the compensation of an administrator from being based on premiums or charges collected or the number of claims paid or processed. This section does not prohibit an administrator from receiving performance-based compensation for providing hospital and other auditing services.

Source: SL 1992, ch 352, § 18; SL 2013, ch 253, § 1.
S.D. Codified Laws § 58-29B-10 — SD Code / Title 58 / Chapter 29B / Section 58-29B-10
Obstruction or interference in conduct of proceedings
Status: in_force

No person may obstruct or interfere with the director in the conduct of any delinquency proceeding or any investigation preliminary or incidental thereto. This section may not be construed to abridge otherwise existing legal rights, including the right to good faith resistance to a petition for liquidation or other delinquency proceedings, or other orders.

Source: SL 1989, ch 436, § 10.
S.D. Codified Laws § 58-14-18 — SD Code / Title 58 / Chapter 14 / Section 58-14-18
Application of reinsurance provisions
Status: in_force

This section applies to all cessions after July 1, 1993, under reinsurance agreements which have had an inception, anniversary, or renewal date not less than six months after July 1, 1993.

Source: SL 1992, ch 344, § 12.
S.D. Codified Laws § 58-32-49 — SD Code / Title 58 / Chapter 32 / Section 58-32-49
Production of records of insured for examination--Refusal to obey order of director as misdemeanor
Status: in_force

In order that the director may effectively administer the various provisions of this chapter, every person as to whom insurance has been placed with an unauthorized insurer shall, upon the director's order, produce for his examination all policies and other documents evidencing the insurance, and shall disclose to the director the amount of premiums paid or agreed to be paid for the insurance. Each refusal to obey such order is a Class 2 misdemeanor.

Source: SL 1966, ch 111, ch 11, § 23 (1); SL 1978, ch 359, § 2.
S.D. Codified Laws § 58-15-24 — SD Code / Title 58 / Chapter 15 / Section 58-15-24
Participating policies--Rights of policyholder to dividends
Status: in_force

Except as hereinafter provided, any dividend becoming payable shall at the option of the party entitled to elect such option be either:

(1) Payable in cash, or

(2) Applied to any one of such other dividend options as may be provided by the policy. If any such other dividend options are provided, the policy shall further state which option shall be automatically effective if such party shall not have elected some other option. If the policy specifies a period within which such other dividend option may be elected, such period shall be not less than thirty days following the date on which such dividend is due and payable.

The annually apportioned dividend shall be deemed to be payable in cash within the meaning of subdivision (1) above even though the policy provides that payment of such dividend is to be deferred for a specified period, provided such period does not exceed six years from the date of apportionment and that interest will be added to such dividend at a specified rate. If a participating policy provides that the benefit under any paid - up nonforfeiture provision is to be participating, it may provide that any divisible surplus becoming payable or apportioned while the insurance is in force under such nonforfeiture provision shall be applied in the manner set forth in the policy.

Source: SL 1966, ch 111, ch 23, § 8 (1).
S.D. Codified Laws § 58-41-1 — SD Code / Title 58 / Chapter 41 / Section 58-41-1
Definition of terms
Status: in_force

Terms used in this chapter mean:

(1) "Comprehensive health maintenance services," a set of comprehensive health services which the enrollees might reasonably require to be maintained in good health, including as a minimum, but not limited to, emergency care, inpatient hospital and physician care, outpatient medical services, and preventive medical services;

(2) "Director," the director of the Division of Insurance or his designee;

(3) "Enrollee," any person who has entered into, or is covered by a health maintenance contract;

(4) "Evidence of coverage," any certificate, agreement, or contract issued to an enrollee which sets out the coverage to which he is entitled under the health maintenance contract which covers him;

(5) "Health maintenance contract," any contract whereby a health maintenance organization agrees to provide comprehensive health maintenance services to enrollees, provided that the contract may contain reasonable enrollee copayment provisions. Any contract may provide for health care services in addition to those set forth in subdivision (1);

(6) "Limited health service," dental care services, vision care services, mental health services, substance abuse services, pharmaceutical services, podiatric care services, and such other services as may be determined by the director to be limited health services. Limited health service does not include hospital, medical, surgical, or emergency services except as these services are provided incident to the limited health services;

(7) "Provider," any person who furnishes health services and is licensed or otherwise authorized to render such services in the state;

(8) "Risk bearing entity," an intermediary organization that is a financial risk for services provided through contractual assumption of the obligation for the delivery of specified health care services to covered persons of the health maintenance organization.

Source: SL 1974, ch 321, § 2; SL 2013, ch 256, § 1.
S.D. Codified Laws § 58-29B-78 — SD Code / Title 58 / Chapter 29B / Section 58-29B-78
Property affected by voidable lien discharge--That and indemnifying property pass to liquidator--Exception
Status: in_force

The property affected by any lien deemed voidable under §§ 58-29B-66 to 58-29B-68 , inclusive, and 58-29B-77 , shall be discharged from such lien, and that property and any of the indemnifying property transferred to or for the benefit of a surety shall pass to the liquidator, except that the court may on due notice order any such lien to be preserved for the benefit of the estate and the court may direct that such conveyance be executed as may be proper or adequate to evidence the title of the liquidator.

Source: SL 1989, ch 436, § 78.
S.D. Codified Laws § 58-5A-29 — SD Code / Title 58 / Chapter 5A / Section 58-5A-29
Disclaimer of affiliation--Contents--Procedure on disallowance
Status: in_force

Any person may file with the director a disclaimer of affiliation with any authorized insurer or the disclaimer may be filed by the insurer or any member of an insurance holding company system. The disclaimer shall fully disclose all material relationships and basis for affiliation between the person and insurer as well as the basis for disclaiming the affiliation. A disclaimer of affiliation is deemed to have been granted unless the director, within thirty days following receipt of a complete disclaimer, notifies the filing party the disclaimer is disallowed. If disallowed, the disclaiming party may request an administrative hearing pursuant to chapter 1-26 within thirty days of the director's disallowance. A notice of hearing shall be issued within thirty days of a written request by the disclaiming party. The disclaiming party is relieved of the duty to register pursuant to this section if the director approves the disclaimer, or if the disclaimer is deemed to have been approved.

Source: SL 1972, ch 267, § 23; SL 2015, ch 246, § 8.
S.D. Codified Laws § 58-33-63 — SD Code / Title 58 / Chapter 33 / Section 58-33-63
Reinstatement and money penalty for violation
Status: in_force

If the director of the Division of Insurance determines in a final order that the insurer has violated any provision of §§ 58-33-59 to 58-33-65 , inclusive, the director shall require the insurer to reinstate insurance coverage to the end of the policy period. The director may also assess a money penalty against an insurer for each violation of any provision of §§ 58-33-59 to 58-33-65 , inclusive, in an amount set forth in § 58-4-28.1 and may order the insurer to refrain from engaging in practices that violate the provisions of §§ 58-33-59 to 58-33-65 , inclusive.

Source: SL 1985, ch 392, § 5.
S.D. Codified Laws § 58-5-149 — SD Code / Title 58 / Chapter 5 / Section 58-5-149
Determining whether to report acquisitions on a nonconsolidated or consolidated basis
Status: in_force

Insurers shall report acquisitions and dispositions on a nonconsolidated basis unless the insurer is part of a consolidated group of insurers which utilizes an intercompany pooling agreement or arrangement or a one hundred percent reinsurance agreement whereunder the ceding company has ceded substantially one hundred percent of its direct and assumed business to a pool. An insurer is deemed to have ceded "substantially one hundred percent" of its direct and assumed business to a pool if the insurer has less than one million dollars of total direct plus assumed written premiums during a calendar year that are not subject to the pooling agreement or arrangement and the net income of the business not subject to the pooling agreement or arrangement represents less than five percent of the insurer's capital and surplus. If a group of insurers reports on a consolidated basis, the report shall identify the individual insurers that are members of the group.

Source: SL 1995, ch 275, § 6.
S.D. Codified Laws § 58-28-14 — SD Code / Title 58 / Chapter 28 / Section 58-28-14
Approval required to maintain guaranteed benefits and funds in separate account
Status: in_force

Except with the approval of the director and under such conditions as to investments and other matters as he may prescribe, which shall recognize the guaranteed nature of the benefits provided, reserves for:

(1) Benefits guaranteed as to dollar amount and duration and

(2) Funds guaranteed as to principal amount or stated rate of interest shall not be maintained in a separate account.

Source: SL 1966, ch 111, ch 6, § 36 (4); § 36 (2) as amended by SL 1967, ch 131; SDCL, § 58-28-2; SL 1969, ch 132; SL 1971, ch 266, § 1 (3).
S.D. Codified Laws § 58-14-16.27 — SD Code / Title 58 / Chapter 14 / Section 58-14-16.27
Prompt payment practices
Status: in_force

An assuming insurer under § 58-14-16.23 shall maintain a practice of prompt payment of claims under a reinsurance agreement. The lack of prompt payment is evidenced if any of the following criteria are met:

(1) More than fifteen percent of the reinsurance recoverables from the assuming insurer are overdue and in dispute as reported to the director;

(2) More than fifteen percent of the assuming insurer's ceding insurers or reinsurers have overdue reinsurance recoverable on paid losses of ninety days or more that are not in dispute and that exceed one hundred thousand dollars for each ceding insurer or as otherwise specified in a covered agreement; or

(3) The aggregate amount of reinsurance recoverable on paid losses that are not in dispute but are overdue by ninety days or more exceeds fifty million dollars or as otherwise specified in a covered agreement.

Source: SL 2021, ch 211, § 5.
S.D. Codified Laws § 58-13-6 — SD Code / Title 58 / Chapter 13 / Section 58-13-6
Application of chapter to alien insurers
Status: in_force

As to alien insurers, this chapter shall relate only to risks and surplus to policyholders of the insurer's United States branch.

Source: SL 1966, ch 111, ch 4, § 11 (4).
S.D. Codified Laws § 58-46-5 — SD Code / Title 58 / Chapter 46 / Section 58-46-5
Additional filing requirements
Status: in_force

In addition to the information required by § 58-46-4 , each applicant captive insurance company shall file with the director evidence of the following:

(1) The amount and liquidity of its assets relative to the risks to be assumed;

(2) The adequacy of the expertise, experience, and character of the management;

(3) The overall soundness of its plan of operation;

(4) The adequacy of the loss prevention programs of its parent and affiliated entities; and

(5) Such other factors deemed relevant by the director in ascertaining whether the proposed captive insurance company will be able to meet its policy obligations.

Source: SL 1996, ch 287, § 5; SL 2013, ch 257, § 4.
S.D. Codified Laws § 58-20-13 — SD Code / Title 58 / Chapter 20 / Section 58-20-13
Form of insurance to be approved before issuance--Ruling subject to appeal
Status: in_force

No such policy of compensation or liability insurance or rider shall be issued or delivered in this state until a copy of the form thereof shall have been filed with the director at least thirty days, unless prior to the expiration of such thirty days, the director shall in writing approve such form; also, no such policy or rider shall be issued if the director, in writing, notifies the insurer that in his opinion the form of such policy or rider does not comply with the provisions of this chapter, specifying the reasons. Such ruling shall be subject to appeal, the same as other decisions of the director in quasi - judicial matters.

Source: SL 1966, ch 111, ch 29, § 6.
S.D. Codified Laws § 58-18-86 — SD Code / Title 58 / Chapter 18 / Section 58-18-86
Plans subject to §58-18-45--Exceptions
Status: in_force

Any accident and sickness plan or certificate other than credit health insurance as defined in subdivision 58-19-2(1) and a health benefit plan is subject to subdivision 58-18-45(1).

Source: SL 2001, ch 275, § 6; SL 2013, ch 248, § 2.
S.D. Codified Laws § 58-5-8 — SD Code / Title 58 / Chapter 5 / Section 58-5-8
Articles of incorporation delivered to director with filing fees--Examination and approval by attorney general, return to director
Status: in_force

The incorporators of a proposed domestic insurer shall deliver the original and two executed copies of the articles of incorporation to the director of the Division of Insurance together with the filing fees therefor specified in § 58-2-29 . The director shall submit the same to the attorney general for examination. If the attorney general finds that the articles comply with this title and the Constitution and laws of the United States and of this state, he shall endorse his approval thereon and return such articles to the director.

Source: SL 1966, ch 111, ch 16, § 7 (1).
S.D. Codified Laws § 58-11-55 — SD Code / Title 58 / Chapter 11 / Section 58-11-55
Discrimination in issuance or renewal of automobile insurance policy as misdemeanor--Exceptions
Status: in_force

Except as provided in §§ 58-11-55.1 and 58-11-55.2 , no insurer may refuse to issue or to renew a policy or certificate solely because of the age, residence, race, color, creed, national origin, ancestry, occupation, or marital status of the applicant or the insured. Violation of this section is a Class 2 misdemeanor. Nothing in this section requires an insurer to issue or renew a policy or certificate to a person who is not a resident of this state.

Source: SL 1968, ch 138, § 9 as added by SL 1969, ch 139; SL 1978, ch 359, § 2; SL 1997, ch 287, § 1; SL 2002, ch 235, § 2.
S.D. Codified Laws § 58-17-4 — SD Code / Title 58 / Chapter 17 / Section 58-17-4
Consideration for policy to be stated
Status: in_force

The entire money and other considerations therefor shall be expressed in a policy of health insurance.

Source: SL 1966, ch 111, ch 25, § 2 (1).
S.D. Codified Laws § 58-18B-57 — SD Code / Title 58 / Chapter 18B / Section 58-18B-57
Diabetes coverage not required of certain plans
Status: in_force

The provisions of § 58-18B-56 do not apply to any plan, policy, or contract that provides coverage only for:

(1) Specified disease;

(2) Hospital indemnity;

(3) Fixed indemnity;

(4) Accident - only;

(5) Credit;

(6) Dental;

(7) Vision;

(8) Prescription drug;

(9) Medicare supplement;

(10) Long - term care;

(11) Disability income insurance;

(12) Coverage issued as a supplement to liability insurance;

(13) Workers' compensation or similar insurance;

(14) Automobile medical payment insurance;

(15) Individual health benefit plans of six - months duration or less that are not renewable; or

(16) Individual nonmajor medical insurance.

Source: SL 1999, ch 252, § 6.
S.D. Codified Laws § 58-5-113 — SD Code / Title 58 / Chapter 5 / Section 58-5-113
Illegal dividends--Revocation or suspension of certificate of authority
Status: in_force

The director may revoke or suspend the certificate of authority of an insurer which has declared or paid a dividend contrary to the general corporation laws of this state.

Source: SL 1966, ch 111, ch 16, § 33.
S.D. Codified Laws § 58-11-43 — SD Code / Title 58 / Chapter 11 / Section 58-11-43
Application for insurance other than life or health--Use as evidence--Failure to furnish copy to insured
Status: in_force

As to kinds of insurance other than life or health insurance, no application for insurance signed by or on behalf of the insured shall be admissible in evidence in any action between the insured and the insurer arising out of the policy so applied for, if the insurer has failed, at expiration of thirty days after receipt by the insurer of written demand therefor by or on behalf of the insured, to furnish to the insured a copy of such application reproduced by any legible means.

Source: SL 1966, ch 111, ch 22, § 11 (3).
S.D. Codified Laws § 58-44-5 — SD Code / Title 58 / Chapter 44 / Section 58-44-5
Written contract required--Provisions
Status: in_force

A controlled insurer may not accept business from a controlling broker and a controlling broker may not place business with a controlled insurer unless there is a written contract between the parties specifying the responsibilities of each party, and the contract has been approved by the board of directors of the insurer and the director of insurance and contains the following minimum provisions:

(1) The controlled insurer may terminate the contract for cause, upon written notice to the controlling broker. The controlled insurer shall suspend the authority of the controlling broker to write business during the pendency of any dispute regarding the cause for the termination;

(2) The controlling broker shall provide accounts to the controlled insurer detailing all material transactions, including information necessary to support all commissions, charges and other fees received by, or owing to, the controlling broker;

(3) The controlling broker shall remit all funds due under the terms of the contract to the controlled insurer on at least a monthly basis. The due date shall be fixed so that premiums or installments collected shall be remitted no later than ninety days after the effective date of any policy placed with the controlled insurer under this contract;

(4) All funds collected for the controlled insurer's account shall be held by the controlling broker in a fiduciary capacity, in one or more appropriately identified bank accounts in banks that are members of the federal reserve system, in accordance with the provisions of the insurance law as applicable. However, funds of a controlling broker not required to be licensed in this state shall be maintained in compliance with the requirements of the controlling broker's domiciliary jurisdiction;

(5) The controlling broker shall maintain separately identifiable records of business written for the controlled insurer;

(6) The contract may not be assigned in whole or in part by the controlling broker;

(7) The controlled insurer shall provide the controlling broker with its underwriting standards, rules and procedures, manuals setting forth the rates to be charged, and the conditions for the acceptance or rejection of risks. The controlling broker shall adhere to the standards, rules, procedures, rates, and conditions. The standards, rules, procedures, rates, and conditions shall be the same as those applicable to comparable business placed with the controlled insurer by a broker other than the controlling broker;

(8) The rates and terms of the controlling broker's commissions, charges, or other fees and the purposes for those charges or fees. The rates of the commissions, charges, and other fees may be no greater than those applicable to comparable business placed with the controlled insurer by brokers other than controlling brokers. For purposes of this subdivision and subdivision (7) of this section, examples of "comparable business" include the same lines of insurance, same kinds of insurance, same kinds of risks, similar policy limits, and similar quality of business;

(9) If the contract provides that the controlling broker, on insurance business placed with the insurer, is to be compensated contingent upon the insurer's profits on that business, then the compensation may not be determined and paid until at least five years after the premiums on liability insurance are earned and at least one year after the premiums are earned on any other insurance. In no event may the commissions be paid until the adequacy of the controlled insurer's reserves on remaining claims has been independently verified pursuant to § 58-44-6 ;

(10) A limit on the controlling broker's writings in relation to the controlled insurer's surplus and total writings. The insurer may establish a different limit for each line or subline of business. The controlled insurer shall notify the controlling broker when the applicable limit is approached and may not accept business from the controlling broker if the limit is reached. The controlling broker may not place business with the controlled insurer if it has been notified by the controlled insurer that the limit has been reached; and

(11) The controlling broker may negotiate but may not bind reinsurance on behalf of the controlled insurer on business the controlling broker places with the controlled insurer. However, the controlling broker may bind facultative reinsurance contracts pursuant to obligatory facultative agreements if the contract with the controlled insurer contains underwriting guidelines including, for both reinsurance assumed and ceded, a list of reinsurers with which automatic agreements are in effect, the coverages and amounts or percentages that may be reinsured and commission schedules.

Source: SL 1992, ch 358, § 5.
S.D. Codified Laws § 58-22-13 — SD Code / Title 58 / Chapter 22 / Section 58-22-13
Runner's application--Fees--Fingerprints and photograph of applicant
Status: in_force

Each runner's application shall be accompanied by a license fee of thirty dollars and an appointment fee of ten dollars for each bail bondsperson employing the applicant and shall be submitted to the director with each application for a license to serve as a runner, together with fingerprints and photograph. The employing bail bondsperson is responsible for submitting the application and appointment fee.

Source: SL 1966, ch 111, ch 31, § 10; SL 1998, ch 296, § 9.
S.D. Codified Laws § 58-41-109 — SD Code / Title 58 / Chapter 41 / Section 58-41-109
Promulgation of rules for purchasing organizations
Status: in_force

The director may promulgate rules pursuant to chapter 1-26 to further the provisions of §§ 58-41-99 to 58-41-109 , inclusive, and for purposes of carrying out the provisions of §§ 58-18-1 to 58-18-6 , inclusive, and to ensure that group health insurance coverage is issued to eligible groups and that organizations are formed and operated to further the purpose of providing economical group health insurance for its members. The rules may include:

(1) Definition of terms;

(2) Criteria for determining groups, associations, organizations, and trusts and their eligibility for coverage;

(3) Criteria for determining substantially similar groups or for determining related industries;

(4) Application requirements and procedures;

(5) Reasonable compensation; and

(6) Organizational structure.

Source: SL 1994, ch 382, § 11.
S.D. Codified Laws § 58-24-58 — SD Code / Title 58 / Chapter 24 / Section 58-24-58
Unfair or unreasonable practices of joint underwriters or joint reinsurers--Order requiring discontinuance
Status: in_force

If, after a hearing, the director finds that any activity or practice of any group identified in § 58-24-57 is unfair or unreasonable or otherwise inconsistent with the provisions of this chapter, the director may issue an order specifying in what respect the activity or practice is unfair or unreasonable or otherwise inconsistent with the provisions of this chapter and requiring the discontinuance of the activity or practice.

Source: SL 1966, ch 111, ch 15, § 11 (2); SL 2014, ch 239, § 19.
S.D. Codified Laws § 58-18-7.20 — SD Code / Title 58 / Chapter 18 / Section 58-18-7.20
Construction with chapter58-18C
Status: in_force

Nothing in §§ 58-18-7.4 , 58-18-7.5 , 58-18-7.11 , 58-18-7.12 , 58-18-7.13 , 58-18-7.18 , 58-18-7.19 , 58-18-7.20 , or 58-18-79 applies to or qualifies any person for any continuation or conversion right available in chapter 58-18C .

Source: SL 2001, ch 280, § 5.
S.D. Codified Laws § 58-33-87 — SD Code / Title 58 / Chapter 33 / Section 58-33-87
Payments of health insurance benefits for medical assistance recipients
Status: in_force

Any insurer subject to this chapter who is engaged in the business of health insurance shall provide that payment for benefits with respect to any participant who receives benefits from the Department of Social Services medical assistance program under Title XIX of the Social Security Act as amended to January 1, 1994, shall be made in accordance with the assignment of rights for medical support as required by § 28-6-7.1 without additional restrictions or requirements as compared with any other agent or assignee of any other individual so covered by the insurer.

Source: SL 1994, ch 387, § 3.
S.D. Codified Laws § 58-29B-61 — SD Code / Title 58 / Chapter 29B / Section 58-29B-61
Fraudulent transfers--Avoidance by receiver--Acceptance or preservation of transfer
Status: in_force

Every transfer made or suffered and every obligation incurred by an insurer within one year prior to the filing of a successful petition for rehabilitation or liquidation under this chapter is fraudulent as to then existing and future creditors if made or incurred without fair consideration, or with actual intent to hinder, delay, or defraud either existing or future creditors. A transfer made, or an obligation incurred, by an insurer ordered to be rehabilitated or liquidated under this chapter, which is fraudulent under this section, may be avoided by the receiver. However, a person who in good faith is a purchaser, lienor, or obligee who in good faith has given a consideration less than fair for such transfer, lien, or obligation may retain the property, lien, or obligation as security for repayment. The court may, on due notice, order any such transfer or obligation to be preserved for the benefit of the estate, and in that event, the receiver shall succeed to and may enforce the rights of the purchaser, lienor, or obligee.

Source: SL 1989, ch 436, § 61.
S.D. Codified Laws § 58-29B-153 — SD Code / Title 58 / Chapter 29B / Section 58-29B-153
Proof of claims of residents in reciprocal states
Status: in_force

Claims belonging to claimants residing in reciprocal states may be proved either in the liquidation proceeding in this state as provided in this chapter, or in ancillary proceedings, if any, in the reciprocal states. If notice of the claims and opportunity to appear and be heard is afforded the domiciliary liquidator of this state as provided in § 58-29B-155 , with respect to ancillary proceedings, the final allowance of claims by the court in ancillary proceedings in reciprocal states shall be conclusive as to amount and as to priority against special deposits or other security located in such ancillary state, but are not conclusive with respect to priorities against general assets under § 58-29B-124 .

Source: SL 1989, ch 436, § 153.
S.D. Codified Laws § 58-5-2 — SD Code / Title 58 / Chapter 5 / Section 58-5-2
Stock insurer defined
Status: in_force

A "stock" insurer is an incorporated insurer with capital divided into shares and owned by its stockholders.

Source: SL 1966, ch 111, ch 16, § 2.
S.D. Codified Laws § 58-30-205 — SD Code / Title 58 / Chapter 30 / Section 58-30-205
Retention of rental car insurance transaction records
Status: in_force

The rental car agent shall retain for a period of five years from the date of each transaction records which enable it to identify the name of the endorsee involved in each rental transaction in which a renter purchased rental car insurance.

Source: SL 2001, ch 272, § 9; SDCL 58-9-42; SL 2010, ch 233, § 2.
S.D. Codified Laws § 58-15-26.5 — SD Code / Title 58 / Chapter 15 / Section 58-15-26.5
Application limited
Status: in_force

The provisions of §§ 58-15-26.1 to 58-15-26.5 , inclusive, shall apply only to deaths of insureds which occur on or after July 1, 1987.

Source: SL 1987, ch 375, § 5.
S.D. Codified Laws § 58-5-34 — SD Code / Title 58 / Chapter 5 / Section 58-5-34
Computation of assessment levied by mutual insurer
Status: in_force

In levying such assessment, the computation shall be upon the basis of the premiums earned on such policy during the period to which the assessment relates.

Source: SL 1966, ch 111, ch 16, § 30 (3).
S.D. Codified Laws § 58-15-43.1 — SD Code / Title 58 / Chapter 15 / Section 58-15-43.1
Adjusted premiums--Calculation on annual basis
Status: in_force

Sections 58-15-43.1 to 58-15-43.11 , inclusive, apply to all policies issued on or after July 1, 1982. Except as provided in § 58-15-43.7 , the adjusted premiums for any policy shall be calculated on an annual basis and shall be such uniform percentage of the respective premiums specified in the policy for each policy year, excluding amounts payable as extra premiums to cover impairments or special hazards and also excluding any uniform annual contract charge or policy fee specified in the policy in a statement of the method to be used in calculating the cash surrender values and paid up nonforfeiture benefits, that the present value, at the date of issue of the policy, of all adjusted premiums is equal to the sum of the then present value of the future guaranteed benefits provided for by the policy; one percent of either the amount of insurance, if the insurance be uniform in amount, or the average amount of insurance at the beginning of each of the first ten policy years; and one hundred twenty - five percent of the nonforfeiture net level premium as hereinafter defined. However, in applying the above percentage, no nonforfeiture net level premium may be deemed to exceed four percent of either the amount of insurance, if the insurance be uniform in amount, or the average amount of insurance at the beginning of each of the first ten policy years. The date of issue of a policy for the purpose of this section is the date as of which the rated age of the insured is determined.

Source: SL 1982, ch 357, § 5.
S.D. Codified Laws § 58-17H-6 — SD Code / Title 58 / Chapter 17H / Section 58-17H-6
In-network emergency services
Status: in_force

Coverage of in-network emergency services are subject to applicable copayments, coinsurance, and deductibles.

Source: SL 2011, ch 219, § 31.
S.D. Codified Laws § 58-41-13 — SD Code / Title 58 / Chapter 41 / Section 58-41-13
Coordination with federal professional standards review
Status: in_force

To the extent that it furthers the purposes of this chapter, the director shall attempt to coordinate the operations of this chapter relating to the quality of health care services with the operations of 42 U.S.C. sections 1320c to 1320c-19.

Source: SL 1974, ch 321, § 54; SL 2013, ch 256, § 5.
S.D. Codified Laws § 58-1-40 — SD Code / Title 58 / Chapter 1 / Section 58-1-40
English version of policy controls--Transactions in another language permitted
Status: in_force

The controlling version of any insurance policy offered in South Dakota shall be the English version. An authorized insurer, as defined in subdivision 58-1-2(2), may conduct transactions in a language other than English through an employee or agent acting as interpreter or through an interpreter provided by the customer.

Source: SL 2018, ch 277, § 1.
S.D. Codified Laws § 58-29A-76 — SD Code / Title 58 / Chapter 29A / Section 58-29A-76
Administrative assessments for operating expenses
Status: in_force

In addition to any other assessments authorized by this chapter, the association may assess each member insurer an administrative assessment not to exceed five hundred dollars per annum. The administrative assessment shall be made for the purpose of paying operating expenses of the association and its employees not directly attributable to any particular insolvency or insolvent insurer, and the administrative assessment may not be on a pro rata basis. The assessments are due not less than thirty days after prior written notice to the member insurer and shall accrue interest at ten percent per annum on and after the due date.

Source: SL 2000, ch 247, § 23; SL 2013, ch 251, § 1.
S.D. Codified Laws § 58-3-7.2 — SD Code / Title 58 / Chapter 3 / Section 58-3-7.2
Penalty upon refusal to submit to examination--Suspension, refusal of, or nonrenewal of, license
Status: in_force

The refusal of any company, by its officers, directors, employees, or insurance producers, to submit to examination or to comply with any reasonable written request of the examiners constitutes grounds for suspension or refusal of, or nonrenewal of any license or authority held by the insurer or person to engage in an insurance or other business subject to the director's jurisdiction.

Source: SL 1992, ch 338, § 6; SL 2001, ch 286, § 63.
S.D. Codified Laws § 58-17-142 — SD Code / Title 58 / Chapter 17 / Section 58-17-142
Maximum premium rates for plans issued prior to August 1, 2003--Rate provisions of §58-17-75to apply upon carrier's discontinuance of active marketing
Status: in_force

Any carrier of any in force individual health benefit plan issued guarantee issued policies prior to August 1, 2003, for which rates are established pursuant to § 58-17-75 , may set and charge a maximum premium rate of not more than two and two-tenths times the base premium rate until January 1, 2005, and may set and charge a maximum premium rate of not more than two and one-half times the base premium rate for each year thereafter, if the carrier actively markets individual major medical policies in this state during the entire year of 2003 and each year thereafter. If, in any year after 2003, the carrier discontinues actively marketing individual health benefit plans in this state, the premium rate provisions of § 58-17-75 apply to those policies in force issued guarantee issued policies from the date of the carrier's discontinuance of active marketing.

The provisions of this section apply only to grandfathered plans pursuant to 75 Fed. Reg. 116 (2010) to be codified at 26 C.F.R. §§ 54 and 602, as of January 1, 2015, and 29 C.F.R. § 2590, as of January 1, 2015, and 45 C.F.R. § 147, as of January 1, 2015.

Source: SL 2003 (SS), ch 2, § 1, eff. Sept. 26, 2003; SL 2015, ch 249, § 27.
S.D. Codified Laws § 58-30-206 — SD Code / Title 58 / Chapter 30 / Section 58-30-206
Rental car insurance agreement
Status: in_force

No insurance may be offered, sold, or solicited pursuant to §§ 58-30-197 to 58-30-208 , inclusive, unless:

(1) The rental period of the rental car agreement is twenty-eight consecutive days or less;

(2) At every location where rental agreements are executed, the rental car agent or endorsee prominently displays and makes available brochures or other written materials to each renter who purchases rental car insurance that:

(a) Summarize the material terms, exclusions, limitations, and conditions of coverage offered to renters, including the identity of the insurer;

(b) Describe the process for filing a claim if the renter elects to purchase coverage;

(c) Make information available to the consumer that the rental car insurance offered, sold, or solicited by the rental car agent may provide a duplication of coverage already provided by other sources of the renter's, and that such insurance is not required as a condition of renting the motor vehicle;

(d) Provide the rental car agent's name, address, telephone number, and license number;

(e) Makes available information that, if purchased, the insurance offered by the limited lines producer to the renter is primary coverage over any other insurance coverages applicable to the renter;

(3) Evidence of the rental car insurance coverage is stated in the rental agreement;

(4) Any cost for the rental car insurance is separately itemized in the rental agreement unless preselection of coverage is made in a master, corporate, or group agreement.

Source: SL 2001, ch 272, § 10; SDCL § 58-9-43; SL 2010, ch 233, § 2.
S.D. Codified Laws § 58-30-166 — SD Code / Title 58 / Chapter 30 / Section 58-30-166
Limits on temporary insurance producer license--Revocation of temporary license
Status: in_force

The director may by order limit the authority of any temporary licensee in any way determined to be necessary to protect insureds and the public. The director may require the temporary licensee to be under the supervision of a licensed insurance producer or insurer who assumes responsibility for all acts of the temporary licensee and may impose other similar requirements designed to protect insureds and the public. The director may by order revoke a temporary license if the interest of insureds or the public are endangered. A temporary license does not continue after the owner or the personal representative disposes of the business.

Source: SL 2001, ch 286, § 26.
S.D. Codified Laws § 58-27-56 — SD Code / Title 58 / Chapter 27 / Section 58-27-56
Minimum investments by life insurer
Status: in_force

A life insurer shall also invest and keep invested its funds in amount not less than the reserves under its life insurance policies and annuity contracts in force, in cash or investments provided for under this chapter.

Source: SL 1966, ch 111, ch 6, § 5 (4).
S.D. Codified Laws § 58-29A-68 — SD Code / Title 58 / Chapter 29A / Section 58-29A-68
Obligation of association on claims against insolvent insurer--Deductible and maximum amounts
Status: in_force

The association is obligated to pay covered claims existing prior to the order of liquidation, arising within thirty days after the order of liquidation, or before the policy expiration date if less than thirty days after the order of liquidation, or before the insured replaces the policy or causes its cancellation, if the insured does so within thirty days of the order of liquidation. The obligation shall be satisfied by paying to the claimant an amount as follows:

(1) The full amount of a covered claim for benefits under a workers' compensation insurance coverage;

(2) An amount not exceeding twenty - five thousand dollars per policy for a covered claim for the return of unearned premium;

(3) An amount not exceeding three hundred thousand dollars per claim for all other covered claims.

In no event is the association obligated to a claimant in an amount in excess of the obligation of the insolvent insurer under the policy or coverage from which the claim arises. Notwithstanding any other provisions of this chapter, a covered claim does not include a claim filed with the association after the earlier of eighteen months after the date of the order of liquidation, or the final date set by the court for the filing of claims against the liquidator or receiver of an insolvent insurer and does not include any claim filed with the association or a liquidator for protection afforded under the insured's policy for incurred - but - not - reported losses. The association shall pay only that amount of each unearned premium which is in excess of one hundred dollars.

Any obligation of the association to defend an insured shall cease upon the association's payment, by settlement releasing the insured or on a judgment, of an amount equal to the lesser of the association's covered claim obligation limit, or the applicable policy limit, or tender of such amount.

Notwithstanding any other provisions of this chapter, except in the case of a claim for benefits under workers' compensation coverage, any obligation of the association to any person shall cease when ten million dollars has been paid in the aggregate by the association and any associations similar to the association of any other state or states or any property/casualty security fund which obtains contributions from insurers on a pre - insolvency basis, to or on behalf of any insured and its affiliates on covered claims or allowed claims arising under the policy or policies of any one insolvent insurer. If the association determines that there may be more than one claimant having a covered claim or allowed claim against the association or any associations similar to the association or any property/casualty insurance security fund in other states, under the policy or policies of any one insolvent insurer, the association may establish a plan to allocate amounts payable by the association in such manner as the association in its discretion deems equitable.

Source: SL 2000, ch 247, § 15; SL 2004, ch 310, § 2.
S.D. Codified Laws § 58-35-76 — SD Code / Title 58 / Chapter 35 / Section 58-35-76
Members to vote on plan of division
Status: in_force

The members of the farm mutual shall vote on the proposed plan of division in the manner provided in §§ 58-35-61 and 58-35-62 .

Source: SL 2005, ch 277, § 2.
S.D. Codified Laws § 58-24-30 — SD Code / Title 58 / Chapter 24 / Section 58-24-30
Appeal to director from rating organization or insurer--Affirmance or reversal of action
Status: in_force

Any party affected by the action of such rating organization or such insurer on such request may, within thirty days after written notice of such action, appeal to the director who, after a hearing held upon not less than ten days' written notice to the appellant and to such rating organization or insurer, may affirm or reverse such action.

Source: SL 1966, ch 111, ch 15, § 9.
S.D. Codified Laws § 58-15-99 — SD Code / Title 58 / Chapter 15 / Section 58-15-99
Exemption of insurer for financial hardship
Status: in_force

The director may exempt an insurer from the DMF comparisons required under §§ 58-15-94 to 58-15-108 , inclusive, if the insurer demonstrates to the director's satisfaction that compliance would result in financial hardship to the insurer.

In making the determination the director may take into consideration the number of policies involved, the costs of conducting a retroactive search in relation to the collected premiums for those policies, whether the policy information is stored electronically, and whether the insurer previously has engaged in the use of the DMF for its annuity contracts, but not for its life insurance policies.

Source: SL 2018, ch 280, § 6.
S.D. Codified Laws § 58-1-3.1 — SD Code / Title 58 / Chapter 1 / Section 58-1-3.1
Application to business including medical, surgical, or hospital care benefits
Status: in_force

Notwithstanding any other provision of law, any person, trust, or other entity transacting the business of insurance within this state shall comply with the applicable provisions of the Insurance Code, unless specifically exempted by § 58-1-3 , when the business transacted includes benefits for medical, surgical, or hospital care, whether the coverage is by direct payment, reimbursement, or otherwise.

Source: SL 1983, ch 370, § 2.
S.D. Codified Laws § 58-30-29 — SD Code / Title 58 / Chapter 30 / Section 58-30-29
License not issued in trade name--Exception as to firm or corporation
Status: in_force

No license may be issued in a trade name except to a business entity and upon proof satisfactory to the director that the trade name has been lawfully registered.

Source: SL 1966, ch 111, ch 9, § 10 (3); SL 2001, ch 286, § 166.
S.D. Codified Laws § 58-29D-13 — SD Code / Title 58 / Chapter 29D / Section 58-29D-13
Insurer responsibility for procedures and administration of its programs--Review and audit of administrator
Status: in_force

If an insurer utilizes the services of an administrator, the insurer is responsible for determining the benefits, premium rates, underwriting criteria and claims payment procedures applicable to such coverage and for securing reinsurance, if any. The rules pertaining to these matters shall be provided, in writing, by the insurer to the administrator. The responsibilities of the administrator as to any of these matters shall be set forth in the written agreement between the administrator and the insurer. It is the sole responsibility of the insurer to provide for competent administration of its programs.

In cases where an administrator administers benefits for more than one hundred certificate holders on behalf of an insurer, the insurer must, at least semiannually, conduct a review of the operations of the administrator. At least one review must be an audit of the operations of the administrator, whether conducted on-site or virtually.

Source: SL 1992, ch 352, § 13; SL 2024, ch 202, § 1.
S.D. Codified Laws § 58-1-9 — SD Code / Title 58 / Chapter 1 / Section 58-1-9
Existing certificates of authority--Renewal, suspension, revocation, or termination
Status: in_force

Every certificate of authority of an insurer in force immediately prior to July 1, 1966, and existing under any law repealed by chapter 111 of the Session Laws of 1966, shall be subject to renewal, suspension, revocation, or termination as though originally issued under this title.

Source: SL 1966, ch 111, ch 1, § 8.
S.D. Codified Laws § 58-33-94 — SD Code / Title 58 / Chapter 33 / Section 58-33-94
Acts constituting transaction of insurance business in or from state
Status: in_force

For purposes of §§ 58-33-93 to 58-33-116 , inclusive, any of the following acts in this state effected by mail or otherwise by a nonadmitted insurer or by any person acting with the actual or apparent authority of the insurer, on behalf of the insurer, constitutes the transaction of an insurance business in or from this state:

(1) The making of or proposing to make, as an insurer, an insurance contract;

(2) The making of or proposing to make, as guarantor or surety, any contract of guaranty or suretyship as a vocation and not merely incidental to any other legitimate business or activity of the guarantor or surety;

(3) The taking or receiving of an application for insurance;

(4) The receiving or collection of any premium, commission, membership fees, assessments, dues, or other consideration for insurance or any part thereof;

(5) The issuance or delivery in this state of contracts of insurance to residents of this state or to persons authorized to do business in this state;

(6) The solicitation, negotiation, procurement, or effectuation of insurance or renewals thereof;

(7) The dissemination of information as to coverage or rates, or forwarding of applications, or delivery of policies or contracts, or inspection of risks, the fixing of rates or investigation or adjustment of claims or losses or the transaction of matters subsequent to effectuation of the contract and arising out of it, or any other manner of representing or assisting a person or insurer in the transaction of risks with respect to properties, risks, or exposures located or to be performed in this state;

(8) The transaction of any kind of insurance business specifically recognized as transacting an insurance business within the meaning of the statutes relating to insurance;

(9) The offering of insurance; or

(10) Offering an agreement or contract which purports to alter, amend or void coverage of an insurance contract.

No provision of this section prohibits employees, officers, directors, or partners of a commercial insured from acting in the capacity of an insurance manager or buyer in placing insurance on behalf of the employer, if the person's compensation is not based on buying insurance. The venue of an act committed by mail is at the point where the matter transmitted by mail is delivered or issued for delivery or takes effect.

Source: SL 2007, ch 292, § 2.
S.D. Codified Laws § 58-38-39 — SD Code / Title 58 / Chapter 38 / Section 58-38-39
Notice to subscribers--Disclosures
Status: in_force

The nonprofit medical and surgical service plan corporation shall provide notice to subscribers regarding the coverage required by § 58-38-37 in accordance with rules adopted by the director of the Division of Insurance pursuant to chapter 1-26 . The notice shall be in writing and prominently positioned in any literature or correspondence. The notice shall be transmitted to subscribers in the next mailing to subscribers, in the yearly informational packet sent to subscribers, or by January 1, 1997, whichever is earliest.

Source: SL 1996, ch 292, § 12.
S.D. Codified Laws § 58-18-7.15 — SD Code / Title 58 / Chapter 18 / Section 58-18-7.15
Group insurance coverage in lieu of converted individual policies
Status: in_force

The insurer may elect to provide group insurance coverage in lieu of the issuance of a converted individual policy.

Source: SL 1984, ch 326, § 11; SL 1987, ch 378, § 2; SL 1988, ch 400, § 4.
S.D. Codified Laws § 58-9-28 — SD Code / Title 58 / Chapter 9 / Section 58-9-28
Medical, hospital, surgical, funeral, and accident insurance incidental to other insurance
Status: in_force

Provision of medical, hospital, surgical, and funeral benefits, and of coverage against accidental death or injury, as incidental to and part of other insurance as stated under §§ 58-9-11 , 58-9-13 , 58-9-15 , and 58-9-21 shall for all purposes be deemed to be the same kind of insurance to which it is so incidental, and shall not be subject to provisions of this title applicable to life and health insurances.

Source: SL 1966, ch 111, ch 4, § 6 (2).