S.D. Codified Laws § 58-17-148 — SD Code / Title 58 / Chapter 17 / Section 58-17-148
Qualified health plan sold through exchange to provide for placement through licensed insurance producer--Commissions
Status: in_force

Any qualified health plan as defined by the Patient Protection and Affordable Care Act of 2010 sold in South Dakota through a public health care exchange, as mandated by the Patient Protection and Affordable Care Act of 2010, shall provide for placement through a licensed insurance producer upon enrollment. Any commission paid by a health insurance carrier for the sale of a qualified health plan through a public health exchange shall be the same as a commission paid by the same health insurance carrier outside the public exchange for a similar plan.

Source: SL 2013, ch 249, § 1.
S.D. Codified Laws § 58-6-27 — SD Code / Title 58 / Chapter 6 / Section 58-6-27
Continuation of authority of insurer holding prior certificate--Maintenance of capital stock or surplus requirements
Status: in_force

A domestic or foreign insurer holding a valid certificate of authority to transact insurance in this state immediately prior to July 1, 1966, may continue to transact the same kinds of insurance as permitted by such certificate of authority by maintaining thereafter unimpaired not less than the same amount of paid - in capital stock, if a stock insurer, or not less than the same amount of surplus, if a mutual or reciprocal insurer, as required under the laws of this state for such authority in force immediately prior to July 1, 1966, and as if such laws had continued in force. Once a stock company has accumulated the capital and surplus to exceed the minimum capital and surplus for the line authorized pursuant to § 58-6-23 , then § 58-6-23 shall apply. Once a mutual company has accumulated the capital and surplus to exceed the minimum capital and surplus for the line authorized pursuant to § 58-5-21 , then § 58-5-21 shall apply.

Source: SL 1966, ch 111, ch 3, § 11(1); SL 1988, ch 390.
S.D. Codified Laws § 58-43-14 — SD Code / Title 58 / Chapter 43 / Section 58-43-14
Report of material misstatement of financial condition or that capital and surplus requirements not met--Time limit--Liability of accountant
Status: in_force

An insurer shall require the accountant to report, in writing, within five business days to the board of directors or its audit committee any determination by the accountant that the insurer has materially misstated its financial condition as reported to the director as of the balance sheet date currently under examination or that the insurer does not meet the minimum capital and surplus requirement of §§ 58-5-21 and 58-6-23 as of that date. An insurer who has received a report pursuant to this section shall forward a copy of the report to the director within five business days of receipt of the report and shall provide the accountant making the report with evidence of the report being furnished to the director. If the accountant fails to receive the evidence within the required five business - day period, the accountant shall send or deliver to the director a copy of its report within the next five business days.

No accountant is liable in any manner to any person for any statement made in connection with this section if the statement is made in good faith.

Source: SL 1992, ch 357, § 14.
S.D. Codified Laws § 58-24-29 — SD Code / Title 58 / Chapter 24 / Section 58-24-29
Right of insured to hearing on application of rating system
Status: in_force

Every rating organization and every insurer which makes its own rates shall provide within this state reasonable means whereby any person aggrieved by the application of its rating system may be heard, in person or by his authorized representative, on his written request to review the manner in which such rating system has been applied in connection with the insurance afforded him. If the rating organization or insurer fails to grant or reject such request within thirty days after it is made, the applicant may proceed in the same manner as if his application had been rejected.

Source: SL 1966, ch 111, ch 15, § 9.
S.D. Codified Laws § 58-17E-14 — SD Code / Title 58 / Chapter 17E / Section 58-17E-14
Nonrenewal, suspension, or revocation of registration
Status: in_force

The director may suspend the authority of a discount medical plan organization to enroll new members or refuse to renew or revoke a discount medical plan organization's registration if the director finds that any of the following conditions exist:

(1) The discount medical plan organization is not operating in compliance with this chapter;

(2) The discount medical plan organization has advertised, merchandised, or attempted to merchandise its services in such a manner as to misrepresent its services or capacity for service or has engaged in deceptive, misleading, or unfair practices with respect to advertising or merchandising;

(3) The discount medical plan organization is not fulfilling its obligations as a discount medical plan organization; or

(4) The continued operation of the discount medical plan organization would be hazardous to its members.

Source: SL 2006, ch 257, § 13.
S.D. Codified Laws § 58-38-15 — SD Code / Title 58 / Chapter 38 / Section 58-38-15
Permitted investments
Status: in_force

The funds of any corporation subject to the provisions of this chapter shall be invested only in securities permitted by the laws of this state for the investment of assets of life insurance companies.

Source: SL 1966, ch 111, ch 21, § 10.
S.D. Codified Laws § 58-21-1 — SD Code / Title 58 / Chapter 21 / Section 58-21-1
Qualifications of sole surety on official bonds
Status: in_force

Whenever any bond, undertaking, recognizance, or other obligation is by law, or the charter, ordinances, rules, or regulations of any municipality, board, body, organization, court, judge, or public officer, required or permitted to be made, given, tendered, or filed, with surety or sureties, and whenever the performance of any act, duty, or obligation, or the refraining from any act, is required or permitted to be guaranteed, such bond, undertaking, obligation, recognizance, or guaranty may be executed by a surety insurer qualified to act as surety or guarantor as provided in this chapter.

Source: SL 1966, ch 111, ch 28, § 1.
S.D. Codified Laws § 58-5-109 — SD Code / Title 58 / Chapter 5 / Section 58-5-109
Approval of loan and agreement by director--Disapproval of proposed loan or agreement, grounds
Status: in_force

Any loan pursuant to § 58-5-108 shall be subject to the approval of the director of the Division of Insurance. The insurer shall, in advance of the loan, file with the director a statement of the purpose of the loan and a copy of the proposed loan agreement. The loan and agreement shall be deemed approved unless within fifteen days after date of such filing the insurer is notified of the director's disapproval and the reasons therefor. The director shall disapprove any proposed loan or agreement if he finds the loan is unnecessary or excessive for the purpose intended, or that the terms of the loan agreement are not fair and equitable or that the information so filed by the insurer is inadequate.

Source: SL 1966, ch 111, ch 16, § 34 (3).
S.D. Codified Laws § 58-26-12 — SD Code / Title 58 / Chapter 26 / Section 58-26-12
Assets allowed as deductions from corresponding liabilities
Status: in_force

Assets may be allowed as deductions from corresponding liabilities, and liabilities may be charged as deductions from assets, and deductions from assets may be charged as liabilities, in accordance with the form of annual statement applicable to the insurer as prescribed by the director, or otherwise in his discretion.

Source: SL 1966, ch 111, ch 5, § 2.
S.D. Codified Laws § 58-18-22 — SD Code / Title 58 / Chapter 18 / Section 58-18-22
Sickness or injury--Provision for notice to insurer
Status: in_force

Subject to § 58-18-20 , every blanket health insurance policy shall contain a provision that written notice of sickness or of injury must be given to the insurer within thirty days after the date when such sickness or injury occurred. Failure to give notice within such time shall not invalidate nor reduce any claim if it shall be shown not to have been reasonably possible to give such notice and that notice was given as soon as was reasonably possible.

Source: SL 1966, ch 111, ch 26, § 5 (2).
S.D. Codified Laws § 58-29B-84 — SD Code / Title 58 / Chapter 29B / Section 58-29B-84
Claims of creditor who has received or acquired a voidable preference, lien, conveyance, transfer, assignment, or encumbrance
Status: in_force

No claims of a creditor who has received or acquired a preference, lien, conveyance, transfer, assignment, or encumbrance, voidable under this chapter, may be allowed unless he surrenders the preference, lien, conveyance, transfer, assignment, or encumbrance. If the avoidance is effected by a proceeding in which a final judgment has been entered, the claim may not be allowed unless the money is paid or the property is delivered to the liquidator within thirty days from the date of the entering of the final judgment. However, the court having jurisdiction over the liquidation may allow further time if there is an appeal or other continuation of the proceeding.

Source: SL 1989, ch 436, § 84.
S.D. Codified Laws § 58-29E-13 — SD Code / Title 58 / Chapter 29E / Section 58-29E-13
Certain claims adjustments prohibited
Status: in_force

A pharmacy benefit manager may not, directly or indirectly, retroactively adjust a claim for reimbursement submitted by a pharmacy for a prescription drug, unless:

(1) The adjustment is necessitated by a pharmacy audit conducted in accordance with chapter 58-29F ;

(2) The adjustment is necessitated by a technical billing error;

(3) The original claim was found to have been fraudulently submitted; or

(4) The claim submission was a duplicate for which the pharmacy had already received payment.

Source: SL 2019, ch 213, § 2; SL 2023, ch 166, § 13.
S.D. Codified Laws § 58-37A-38 — SD Code / Title 58 / Chapter 37A / Section 58-37A-38
Exempt societies--Allowance of compensation for procuring new members prohibited--Director to determine exemption--Exempt societies not subject to insurance laws
Status: in_force

Nothing contained in this chapter may be construed as to apply to:

(1) Grand or subordinate lodges of societies, orders, or associations now doing business in this state which provide benefits exclusively through local or subordinate lodges;

(2) Orders, societies, or associations which admit to membership only persons engaged in crafts or hazardous occupations, in the same or similar lines of business, insuring only their own members and their families, and the ladies' societies or ladies' auxiliaries to these orders, societies, or associations;

(3) Domestic societies which limit their membership to employees of a particular municipality, designated firm, business house, or corporation which provide for a death benefit of not more than four hundred dollars or disability benefits of not more than three hundred fifty dollars to any person in any one year, or both; or

(4) Domestic societies or associations of a purely religious, charitable, or benevolent description, which provide for a death benefit of not more than four hundred dollars or for disability benefits of not more than three hundred fifty dollars to any one person in any one year, or both.

Any such society or association described in subdivision (3) or (4) of this section which provides for death or disability benefits for which benefit certificates are issued, and any such society or association included in subdivision (4) of this section which has more than one thousand members, is not exempt from the provisions of this chapter.

No society which, by the provisions of this section, is exempt from the requirements of this chapter, except any society described in subdivision (2) of this section may give or allow, or promise to give or allow, to any person any compensation for procuring new members.

Every society which provides for benefits in case of death or disability resulting solely from accident and which does not obligate itself to pay natural death or sick benefits has all of the privileges and is subject to the provisions of this chapter. However, the provisions of this chapter relating to medical examination, valuations of benefit certificates and incontestability, do not apply to that society.

The director may require from any society or association, by examination or otherwise, the information that will enable the director to determine whether the society or association is exempt from the provisions of this chapter.

Any society, exempt under the provisions of this section, is also exempt from all other provisions of the insurance laws of this state.

Source: SL 1990, ch 410, § 38; SL 1992, ch 60, § 2.
S.D. Codified Laws § 58-29A-86 — SD Code / Title 58 / Chapter 29A / Section 58-29A-86
Delegation of functions to interstate organization--Reimbursement of organization--Approval of delegation
Status: in_force

The plan of operation may provide that any or all powers and duties of the association, except those under subdivision 58-29A-60(2) and those under §§ 58-29A-75 to 58-29A-81 , inclusive, are delegated to a corporation, association, or other organization which performs or will perform functions similar to those of this association, or its equivalent, in two or more states. Such a corporation, association, or organization shall be reimbursed as a servicing facility would be reimbursed and shall be paid for its performance of any other functions of the association. A delegation under this section shall take effect only with the approval of both the board of directors and the director, and may be made only to a corporation, association, or organization which extends protection not substantially less favorable and effective than that provided by this chapter.

Source: SL 2000, ch 247, § 33.
S.D. Codified Laws § 58-35-46 — SD Code / Title 58 / Chapter 35 / Section 58-35-46
Risk limitation inapplicable to organization of county mutual insurers for reinsurance purposes
Status: in_force

The risk limitations set forth in §§ 58-35-35 and 58-35-36 shall not apply to reinsurance companies formed under § 58-35-45 . All reinsurance contracts of such reinsurer shall be submitted to the director for his approval, and he shall disapprove any reinsurance contracts which he finds would be contrary to the interests of the policyholders of the ceding insurers.

Source: SL 1966, ch 111, ch 17, § 32.
S.D. Codified Laws § 58-11-17 — SD Code / Title 58 / Chapter 11 / Section 58-11-17
Time for filing of forms--Approval or disapproval by director
Status: in_force

Every filing pursuant to § 58-11-12 shall be made not less than thirty days in advance of any such delivery. At the expiration of such thirty days, the form so filed shall be deemed approved unless prior thereto it has been approved or disapproved by order of the director. Approval of any such form by the director shall constitute a waiver of any unexpired portion of such waiting period.

Source: SL 1966, ch 111, ch 22, § 13 (2).
S.D. Codified Laws § 58-43-11 — SD Code / Title 58 / Chapter 43 / Section 58-43-11
Rejection of accountant or audited financial report--Grounds
Status: in_force

The director may not recognize as an accountant, nor accept any annual audited financial report, prepared in whole or in part by, any natural person who:

(1) Has been convicted of fraud, bribery, a violation of the Racketeer Influenced and Corrupt Organizations Act, 18 U.S.C. §§ 1961-1968, or any dishonest conduct or practices under federal or state law;

(2) Has been found to have violated the insurance laws of this state with respect to any previous reports submitted under this chapter; or

(3) Has demonstrated a pattern or practice of failing to detect or disclose material information in previous reports filed under the provisions of this chapter.

Source: SL 1992, ch 357, § 11.
S.D. Codified Laws § 58-29B-42.1 — SD Code / Title 58 / Chapter 29B / Section 58-29B-42.1
Plan for continued performance of policy claim obligations during appeal of liquidation order
Status: in_force

If an insurer is in liquidation, within five days of July 1, 1992, or, if later, within five days after the initiation of an appeal of an order of liquidation, which order has not been stayed, the director shall present for the court's approval a plan for the continued performance of the company's policy claims obligations, including the duty to defend insureds under liability insurance policies, during the pendency of an appeal. The plan shall provide for the continued performance and payment of policy claims obligations in the normal course of events, notwithstanding the grounds alleged in support of the order of liquidation includes the ground of insolvency. If the company's financial condition does not, in the judgment of the director, support the full performance of all policy claims obligations during the appeal period, the plan may prefer the claims of certain policyholders and claimants over creditors and interested parties as well as other policyholders and claimants, as the director finds to be fair and equitable considering the relative circumstances of the policyholders and claimants. The court shall examine the plan submitted by the director and if it finds the plan to be in the best interests of the parties, the court shall approve the plan. No action may lie against the director or any of his deputies, agents, clerks, assistants, or attorneys by any party based on preference in a plan during the pendency of appeal approved by the court.

The plan may not supersede or affect the obligations of any insurance guaranty association.

If the liquidator pays claims from assets of the estate, which would otherwise be the obligations of any particular guaranty association but for the appeal of the order of liquidation, the plans, during the appeal period, shall provide for equitable adjustments to be made by the liquidator to any distributions of assets to guaranty associations, so that all guaranty associations equally benefit on a pro rata basis from the assets of the estate. Further, if an order of liquidation is set aside upon any appeal, the company may not be released from delinquency proceedings until all funds advanced by any guaranty association, including reasonable administrative expenses relating to obligations of the company, are repaid in full, together with interest at the judgment rate of interest or unless an arrangement for repayment has been made with the consent of all applicable guaranty associations.

Source: SL 1992, ch 351, § 5.
S.D. Codified Laws § 58-11-9.3 — SD Code / Title 58 / Chapter 11 / Section 58-11-9.3
Exclusion of named person or reduction of coverage in motor vehicle policy--Minimum liability coverage
Status: in_force

An insurance policy covering a private passenger automobile or other motor vehicle registered or principally garaged in this state may by written agreement with the named insured exclude a named individual from coverage. The policy may also contain a restrictive endorsement reducing the limits of liability or collision coverage when the vehicle is operated by a named person or class of persons. However, if the policy does provide liability coverage to a person or persons named in a restrictive endorsement, the liability coverage may not be less than the minimum prescribed by chapter 32-35 .

Source: SL 1971, ch 269; SL 1994, ch 376.
S.D. Codified Laws § 58-18-7.12 — SD Code / Title 58 / Chapter 18 / Section 58-18-7.12
Conditions for continuation
Status: in_force

Subject to the conditions set forth for continuation in §§ 58-18-7 to 58-18-7.11 , inclusive, a qualified beneficiary may continue coverage for a total of thirty - six months under the following conditions:

(1) If at the death of the employee or member, the qualified beneficiary's coverage under the group policy terminates by reason of such death;

(2) If a qualified beneficiary ceases to be a qualified family member under the group policy, while the employee or member remains insured under the policy;

(3) Any medicare ineligible qualified beneficiary of a current employee;

(4) The qualified beneficiary of an employee who is eligible for medicare; or

(5) Divorce or legal separation of employee.

Source: SL 1984, ch 326, § 8; SL 1988, ch 400, § 2; SL 1989, ch 433, § 10; SL 2001, ch 280, § 13.
S.D. Codified Laws § 58-29B-27 — SD Code / Title 58 / Chapter 29B / Section 58-29B-27
Entry of order not anticipatory breach of insurer's contracts
Status: in_force

Entry of a seizure order under §§ 58-29B-24 to 58-29B-26 , inclusive, does not constitute an anticipatory breach of any contract of the insurer.

Source: SL 1989, ch 436, § 27.
S.D. Codified Laws § 58-20-5 — SD Code / Title 58 / Chapter 20 / Section 58-20-5
Entire liability of employer to employees covered by policy--Separate policy for specified plant or work location, special authorization
Status: in_force

Every policy of insurance issued by a stock insurer, or by a mutual association authorized to transact workers' compensation or employers' liability insurance in this state, shall cover the entire liability of the employer to his employees covered by the policy or contract. However, if specifically authorized by the director, a separate policy may be issued for a specified plant or work location if the liability of such employer under this chapter to all his other employees, is otherwise secured.

Source: SL 1966, ch 111, ch 29, § 7.
S.D. Codified Laws § 58-14-16.23 — SD Code / Title 58 / Chapter 14 / Section 58-14-16.23
Credit for reinsurance for reinsurers in reciprocal jurisdictions--Eligibility requirements
Status: in_force

Credit must be allowed when the reinsurance is ceded to an assuming insurer with its head office or domicile in a reciprocal jurisdiction in compliance with §§ 58-14-16.23 to 58-14-16.34, inclusive. A reciprocal jurisdiction is a jurisdiction that meets one of the following:

(1) A non-United States jurisdiction subject to an in-force covered agreement with the United States, each within its legal authority, or, in the case of a covered agreement between the United States and European Union, is a member state of the European Union. For purposes of this chapter, a covered agreement is an agreement entered into pursuant to Dodd-Frank Wall Street Reform and Consumer Protection Act, 31 U.S.C. §§ 313 and 314, that is currently in effect or in a period of provisional application and addresses the elimination, under specified conditions, of collateral requirements as a condition for entering into any reinsurance agreement with a ceding insurer domiciled in this state or for allowing the ceding insurer to recognize credit for reinsurance ;

(2) A United States jurisdiction that meets the requirements for accreditation under the NAIC financial standards and accreditation program; or

(3) A qualified jurisdiction, as determined by the director pursuant to this chapter, that is not otherwise described in subdivisions (1) or (2) of this section and that the director determines meets the following additional requirements:

(a) Provides that an insurer that has its head office or is domiciled in a qualified jurisdiction is allowed credit for reinsurance ceded to a United States-domiciled assuming insurer in the same manner as credit for reinsurance is allowed for reinsurance assumed by insurers domiciled in a qualified jurisdiction;

(b) Does not require a United States-domiciled assuming insurer to establish or maintain a local presence as a condition for entering into a reinsurance agreement with any ceding insurer subject to regulation by the non-United States jurisdiction or as a condition to allow the ceding insurer to recognize credit for reinsurance;

(c) Recognizes the United States state regulatory approach to group supervision and group capital, by providing written confirmation by a competent regulatory authority in a qualified jurisdiction that insurers and insurance groups that are domiciled or maintain their headquarters in this state or another jurisdiction accredited by the NAIC shall be subject only to worldwide prudential insurance group supervision including worldwide group governance, solvency and capital, and reporting by the director or the insurance commissioner of the domiciliary state and will not be subject to group supervision at the level of the worldwide parent undertaking of the insurance or reinsurance group by the qualified jurisdiction; and

(d) Provides written confirmation by a competent regulatory authority in the qualified jurisdiction that information regarding insurers and their parent, subsidiary, or affiliated entities shall be provided to the director in accordance with a memorandum of understanding or similar document between the director and the qualified jurisdiction, including the International Association of Insurance Supervisors Multilateral Memorandum of Understanding or other multilateral memoranda of understanding coordinated by the NAIC.

Source: SL 2021, ch 211, § 1.
S.D. Codified Laws § 58-33-125 — SD Code / Title 58 / Chapter 33 / Section 58-33-125
Misleading as to endorsement, sponsorship, or recommendation by armed forces or government agency considered false, misleading, deceptive, or unfair
Status: in_force

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

(1) Making any representation, or using any device, title, descriptive name or identifier that has the tendency or capacity to confuse or mislead a service member into believing that the insurer, insurance producer or product offered is affiliated, connected or associated with, endorsed, sponsored, sanctioned or recommended by the United States government, the armed forces of the United States, or any state or federal agency or government entity. Examples of prohibited insurance producer titles include Battalion Insurance Counselor, Unit Insurance Advisor, Servicemen's Group Life Insurance Conversion Consultant, or Veteran's Benefits Counselor. Nothing in this subdivision prohibits a person from using a professional designation awarded after the successful completion of a course of instruction in the business of insurance by an accredited institution of higher learning. Such designations include Chartered Life Underwriter, Chartered Financial Consultant, Certified Financial Planner, Master of Science In Financial Services, or Masters of Science Financial Planning; or

(2) Soliciting the purchase of any life insurance product through the use of or in conjunction with any third party organization that promotes the welfare of or assists members of the armed forces of the United States in a manner that has the tendency or capacity to confuse or mislead a service member into believing that either the insurer, insurance producer, or insurance product is affiliated, connected, or associated with, or endorsed, sponsored, sanctioned, or recommended by the United States government or the armed forces of the United States.

Source: SL 2008, ch 272, § 9.
S.D. Codified Laws § 58-25-7 — SD Code / Title 58 / Chapter 25 / Section 58-25-7
Schedule of rates or premiums--Filing with director--Contents
Status: in_force

Every insurer must file with the director, any manual or schedule of rates or premiums which it proposes to use, together with any rules or regulations governing the setting or making of such rates or premiums, and indicate the character or extent of coverage contemplated under such rates and premiums, except that insurers need not include rates or premiums for a special or unusual guarantee as defined in § 58-25-5 , and such rates or premiums may be classified individually and separately according to the circumstances peculiar to each case.

Source: SL 1966, ch 111, ch 14, § 3 (1).
S.D. Codified Laws § 58-27-67 — SD Code / Title 58 / Chapter 27 / Section 58-27-67
Underwriting of securities or property prohibited
Status: in_force

No insurer shall underwrite or participate in the underwriting of an offering of securities or property by any other person.

Source: SL 1966, ch 111, ch 6, § 34 (2).
S.D. Codified Laws § 58-34-5 — SD Code / Title 58 / Chapter 34 / Section 58-34-5
Compliance required of existing insurers
Status: in_force

Authorized reciprocal insurers existing on July 1, 1966, shall after said date comply with the provisions of this chapter, and shall make such amendments to their subscribers' agreements, power of attorney, policies, and other documents and accounts and perform such other acts as may be required for such compliance.

Source: SL 1966, ch 111, ch 19, § 3 (2).
S.D. Codified Laws § 58-29A-89 — SD Code / Title 58 / Chapter 29A / Section 58-29A-89
Statement of members' premiums furnished to association
Status: in_force

The director shall, upon request of the board of directors, provide the association with a statement of the net direct written premiums of each member insurer.

Source: SL 2000, ch 247, § 36.
S.D. Codified Laws § 58-29B-41 — SD Code / Title 58 / Chapter 29B / Section 58-29B-41
Petition for liquidation--Grounds
Status: in_force

The director may petition the court for an order directing him to liquidate a domestic insurer or an alien insurer domiciled in this state based on the following:

(1) Any ground for an order of rehabilitation as specified in § 58-29B-31 , whether or not there has been a prior order directing the rehabilitation of the insurer;

(2) The insurer is insolvent; or

(3) The insurer is in such condition that the further transaction of business would be hazardous, financially or otherwise, to its policyholders, its creditors or the public.

Source: SL 1989, ch 436, § 41.
S.D. Codified Laws § 58-4A-17 — SD Code / Title 58 / Chapter 4A / Section 58-4A-17
Insurer to reevaluate rates for possible reduction in light of impact of fraud prevention
Status: in_force

Each authorized insurer shall, every three years after July 1, 1999, reevaluate its rates based upon the impact that fraud prevention has had upon its rates, considering the impact of §§ 58-4A-1 to 58-4A-17 , inclusive, and the impact of any fraud prevention units of the insurer or other fraud prevention organization and appropriate accumulated data and, if justified by the insurer's actuary, reduce its rates.

Source: SL 1999, ch 241, § 17.
S.D. Codified Laws § 58-17-103 — SD Code / Title 58 / Chapter 17 / Section 58-17-103
Provisions limited to cancer or life threatening diseases
Status: in_force

The provisions of §§ 58-17-100 to 58-17-106 , inclusive, apply to drugs used in the treatment for cancer or life threatening diseases only, and nothing in §§ 58-17-100 to 58-17-106 , inclusive, may be construed to create, impair, alter, limit, modify, enlarge, abrogate, or prohibit reimbursement for medications used in the treatment of any other disease or condition.

Source: SL 2000, ch 242, § 4.
S.D. Codified Laws § 58-21-3 — SD Code / Title 58 / Chapter 21 / Section 58-21-3
Execution by insurer of official bonds--Compliance with law, rule, or regulation
Status: in_force

Execution by such insurer of such bond, undertaking, obligation, recognizance, or guaranty shall be in all respects a full and complete compliance with every requirement of every law, charter, ordinance, rule, or regulation, that such bond, undertaking, obligation, recognizance, or guaranty shall be executed by one surety or by one or more sureties, or that such surety shall be a resident, or householder, or freeholder, or either or both, or possess any other qualifications; and all courts, judges, heads of departments, boards, bodies, municipalities, and public officers of every character shall accept and treat accordingly such bond, undertaking, obligation, recognizance, or guaranty when so executed by such insurer, as conforming to and fully and completely complying with every such requirement of every such law, charter, ordinance, rule, or regulation.

Source: SL 1966, ch 111, ch 28, § 1.
S.D. Codified Laws § 58-17-1 — SD Code / Title 58 / Chapter 17 / Section 58-17-1
Requirements for all health insurance policies delivered in state
Status: in_force

No policy of health insurance may be delivered or issued for delivery to any person in this state unless it otherwise complies with this title, with §§ 58-17-1.1 to 58-17-11 , inclusive, and with §§ 58-17-84.1 and 58-18-45.1 .

Source: SL 1966, ch 111, ch 25, § 2; SL 1991, ch 400, § 1; SL 1999, ch 248, § 1.
S.D. Codified Laws § 58-33-50 — SD Code / Title 58 / Chapter 33 / Section 58-33-50
Action by director on failure of insurer to cease false advertising after notice
Status: in_force

If after thirty days following the giving of the notice mentioned in § 58-33-49 such insurer has failed to cease making, issuing, or circulating such false misrepresentations or causing the same to be made, issued or circulated in this state, and if the director has reason to believe that a proceeding by him in respect to such matters would be to the interest of the public, and that such insurer is issuing or delivering contracts of insurance to residents of this state or collecting premiums on such contracts or doing any of the acts enumerated in § 58-33-49 , he shall take action against such insurer under the Unfair Trade Practice Act.

Source: SL 1966, ch 111, § 13, § 29.
S.D. Codified Laws § 58-5A-29.1 — SD Code / Title 58 / Chapter 5A / Section 58-5A-29.1
Annual enterprise risk report
Status: in_force

The ultimate controlling person of each insurer subject to registration shall also file an annual enterprise risk report. The report shall, to the best of the ultimate controlling person's knowledge and belief, identify the material risks within the insurance holding company system that could pose enterprise risk to the insurer. The report shall be filed with the lead state director of the insurance holding company system as determined by rules promulgated, pursuant to chapter 1-26 , by the director.

Source: SL 2015, ch 246, § 9.
S.D. Codified Laws § 58-33-133 — SD Code / Title 58 / Chapter 33 / Section 58-33-133
Employer insurance assistance program offerings to be in writing--Certain monetary payments prohibited
Status: in_force

No employer insurance assistance program may be offered by an agent unless the program is specified in writing to the employer. The employer assistance program may not consist of any monetary payments made to the employer or made on behalf of the employer for the purchase of insurance or any other goods or services.

Source: SL 2009, ch 270, § 3.
S.D. Codified Laws § 58-27-65 — SD Code / Title 58 / Chapter 27 / Section 58-27-65
Finding of director that security designed to evade chapter--Investment or loan prohibited
Status: in_force

In addition to investments excluded pursuant to other provisions of this title, an insurer shall not invest in or lend its funds upon the security of any investment or security which is found by the director to be designed to evade any prohibition of this chapter.

Source: SL 1966, ch 111, ch 6, § 34 (1) (b).
S.D. Codified Laws § 58-35-20 — SD Code / Title 58 / Chapter 35 / Section 58-35-20
Suspension or revocation of certificate of authority--Grounds
Status: in_force

A certificate of authority shall be subject to suspension or revocation by the director for violation of or noncompliance with any law of this state.

Source: SL 1966, ch 111, ch 17, § 12 (3).
S.D. Codified Laws § 58-38-18 — SD Code / Title 58 / Chapter 38 / Section 58-38-18
Investigation and examination by director--Cost borne by corporation
Status: in_force

The director may investigate and examine the books and records of any medical and surgical plan corporation, and may summon and examine under oath its officers, representatives, insurance producers, employees, or other persons in relation to the affairs, transactions, and conditions of the corporation.

The director shall conduct an examination of each corporation at least every five years pursuant to chapter 58-3 , and the cost of the regular or other special examinations shall be borne by the corporation.

Source: SL 1966, ch 111, ch 21, § 8; SL 1994, ch 389, § 1; SL 2001, ch 286, § 220.
S.D. Codified Laws § 58-39-7 — SD Code / Title 58 / Chapter 39 / Section 58-39-7
Issuance of license--Matters considered by director
Status: in_force

The director shall issue license upon being satisfied on the following points:

(1) That the applicant is established as a bona fide nonprofit dental service corporation;

(2) That the contracts between the applicant and the participating dentists obligate each dentist to render service to which each subscriber may be entitled under the terms and conditions of the contract issued to the subscriber;

(3) That the rates to be charged and the benefits to be provided are fair and reasonable;

(4) That the amounts provided as working capital of the corporation are repayable only out of earned income paid and payable for operating expenses, dentist expenses, and such reserve as the director may deem adequate; and

(5) That the amount of money actually available for working capital be sufficient to carry all operating expenses for a reasonable period of time from the date of the issuance of the certificate.

Source: SL 1966, ch 111, ch 30, § 6.
S.D. Codified Laws § 58-28-25 — SD Code / Title 58 / Chapter 28 / Section 58-28-25
Approval by director required for variable contracts
Status: in_force

No domestic life insurer and no other life insurer admitted to transact business in this state shall deliver or issue for delivery within this state variable contracts, unless the director is satisfied that its condition or method of operation in connection with the issuance of such contracts will not render its operation hazardous to the public or its policyholders in this state.

Source: SL 1966, ch 111, ch 6, § 36 (9) as added by SL 1967, ch 131; SDCL, § 58-28-9; SL 1971, ch 266, § 3.
S.D. Codified Laws § 58-18B-44 — SD Code / Title 58 / Chapter 18B / Section 58-18B-44
Carrier or agent not to induce or encourage employer to exclude employee from coverage
Status: in_force

No small employer carrier or agent may induce or otherwise encourage a small employer to separate or otherwise exclude an employee from health coverage or benefits provided in connection with the employee's employment.

Source: SL 1995, ch 281, § 39.
S.D. Codified Laws § 58-14-3 — SD Code / Title 58 / Chapter 14 / Section 58-14-3
Risk limits applicable
Status: in_force

An insurer may only reinsure risks within the limits it is authorized to insure.

Source: SL 1966, ch 111, ch 4, § 10 (1); SL 1992, ch 344, § 14.
S.D. Codified Laws § 58-41-105 — SD Code / Title 58 / Chapter 41 / Section 58-41-105
Premiums held in trust by purchasing organization
Status: in_force

The organization shall hold all premiums received in trust and promptly remit premiums to the person entitled thereto.

Source: SL 1994, ch 382, § 7.
S.D. Codified Laws § 58-18A-83 — SD Code / Title 58 / Chapter 18A / Section 58-18A-83
Duties, rights accrued, and offenses committed prior to July 1, 2007
Status: in_force

Sections 58-18A-53 to 58-18A-83 , inclusive, do not impair or affect any duty or act done, offense committed or right accruing, accrued or acquired or liability, penalty, forfeiture or punishment incurred prior to the date on or after July 1, 2007, but the same may be employed, asserted, enforced, prosecuted or inflicted, as fully and to the same extent as if this enactment had not been passed.

Source: SL 2006, ch 259, § 33.
S.D. Codified Laws § 58-18B-50 — SD Code / Title 58 / Chapter 18B / Section 58-18B-50
Minimum inpatient care coverage following delivery
Status: in_force

If a health benefit plan of a small employer carrier that is issued or renewed on or after July 1, 1996, provides maternity coverage, the plan 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 § 58-18B-51 . 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, § 7; SL 1998, ch 290, § 3.
S.D. Codified Laws § 58-17G-2 — SD Code / Title 58 / Chapter 17G / Section 58-17G-2
Health benefit plan defined
Status: in_force

For the purposes of this chapter, the term, health benefit plan, means a policy, contract, certificate, or agreement entered into, offered, or issued by a health carrier to provide, deliver, arrange for, pay for, or reimburse any of the costs of health care services. The term includes short-term and catastrophic health insurance policies, and a policy that pays on a cost-incurred basis, except as otherwise specifically exempted in this definition.

The term does not include coverage only for accident, or disability income insurance, or any combination thereof; coverage issued as a supplement to liability insurance; liability insurance, including general liability insurance and automobile liability insurance; workers' compensation or similar insurance; automobile medical payment insurance; credit-only insurance; coverage for on-site medical clinics; and other similar insurance coverage, specified in federal regulations issued pursuant to Public Law No. 104-191, as amended to January 1, 2011, under which benefits for medical care are secondary or incidental to other insurance benefits.

The term does not include the following benefits if they are provided under a separate policy, certificate, or contract of insurance or are otherwise not an integral part of the plan: limited scope dental or vision benefits; benefits for long-term care, nursing home care, home health care, community-based care, or any combination thereof; or other similar, limited benefits specified in federal regulations issued pursuant to Public Law No. 104-191, as amended to January 1, 2011.

The term does not include the following benefits if the benefits are provided under a separate policy, certificate, or contract of insurance, there is no coordination between the provision of the benefits and any exclusion of benefits under any group health plan maintained by the same plan sponsor, and the benefits are paid with respect to an event without regard to whether benefits are provided with respect to such an event under any group health plan maintained by the same plan sponsor: coverage only for a specified disease or illness; or hospital indemnity or other fixed indemnity insurance.

The term does not include the following if offered as a separate policy, certificate, or contract of insurance: medicare supplemental health insurance as defined under Section 1882(g)(1) of the Social Security Act, as amended to January 1, 2011; coverage supplemental to the coverage provided under Chapter 55 of Title 10, United States Code (Civilian Health and Medical Program of the Uniformed Services (CHAMPUS)), as amended to January 1, 2011; or similar supplemental coverage provided to coverage under a group health plan.

Commission Note: SL 2012, ch 239, § 1 provides: "The provisions of chapter 219 of the 2011 Session Laws shall be deemed repealed if the Patient Protection and Affordable Care Act, Pub. L. No. 111-148, 124 Stat. 119 (2010), as amended by the Health Care and Education Reconciliation Act of 2010, Pub. L. No. 111-152, 124 Stat. 1029 (2010) is found to be unconstitutional in its entirety by a final decision of a federal court of competent jurisdiction and all appeals exhausted or time for appeals elapsed."

Source: SL 2011, ch 219, § 90; SL 2021, ch 210, § 13.
S.D. Codified Laws § 58-30-171.1 — SD Code / Title 58 / Chapter 30 / Section 58-30-171.1
Insurer may prohibit consultant fees
Status: in_force

An insurer may by contract prohibit an insurance producer from collecting a fee from an insurance customer for services provided as a consultant.

Source: SL 2013, ch 255, § 3.
S.D. Codified Laws § 58-33-119 — SD Code / Title 58 / Chapter 33 / Section 58-33-119
Certain solicitations and sales excluded
Status: in_force

Sections 58-33-117 to 58-33-130 , inclusive, do not apply to solicitations or sales involving:

(1) Credit insurance;

(2) Group life insurance or group annuities where there is no in-person, face-to-face solicitation of individuals by an insurance producer or where the contract or certificate does not include a side fund;

(3) An application to the existing insurer that issued the existing policy or contract if a contractual change or a conversion privilege is being exercised; or, if the existing policy or contract is being replaced by the same insurer pursuant to a program filed with and approved by the director; or, if a term conversion privilege is exercised among corporate affiliates;

(4) Individual stand-alone health policies, including disability income policies;

(5) Contracts offered by Servicemembers' Group Life Insurance or Veterans' Group Life Insurance;

(6) Life insurance contracts offered through or by a nonprofit military association, qualifying under Section 501 (c) (23) of the Internal Revenue Code (IRC) as of January 1, 2008, and which are not underwritten by an insurer; or

(7) Contracts used to fund:

(a) An employee pension or welfare benefit plan that is covered by the Employee Retirement and Income Security Act as of January 1, 2008;

(b) A plan described by Sections 401(a), 401(k), 403(b), 408(k) or 408(p) of the IRC, as of January 1, 2008, if established or maintained by an employer;

(c) A government or church plan defined in Section 414 of the IRC as of January 1, 2008, a government or church welfare benefit plan, or a deferred compensation plan of a state or local government or tax exempt organization under Section 457 of the IRC as of January 1, 2008;

(d) A nonqualified deferred compensation arrangement established or maintained by an employer or plan sponsor;

(e) Settlements of or assumptions of liabilities associated with personal injury litigation or any dispute or claim resolution process; or

(f) Prearranged funeral contracts.

Source: SL 2008, ch 272, § 3; SL 2018, ch 278, § 3.
S.D. Codified Laws § 58-16-21 — SD Code / Title 58 / Chapter 16 / Section 58-16-21
Termination of group life policy extended to dependents--Issuance of individual policy to spouse, application and payment of premium
Status: in_force

Upon termination of insurance under § 58-16-18 with respect to the members of the family of any employee or member by reason of the employee's or member's termination of employment, termination of membership in the class or classes eligible for coverage under the policy, or death, the spouse shall be entitled to have issued by the insurer, without evidence of insurability, an individual policy of life insurance without health or other supplementary benefits, providing application for the individual policy shall be made, and the first premium paid to the insurer, within thirty - one days after such termination, subject to the requirements of subdivisions 58-16-39(1), (2), and (3). If any group policy terminates or is amended so as to terminate the insurance of any class of employees or members and the employee or member is entitled to have issued an individual policy under § 58-16-40 , the spouse shall also be entitled to have issued by the insurer an individual policy, subject to the conditions and limitations provided above. If the spouse dies within the period during which he would have been entitled to have an individual policy issued in accordance with this provision, the amount of life insurance which he would have been entitled to have issued under such individual policy shall be payable as a claim under the group policy, whether or not application for the individual policy or the payment of the first premium therefor has been made.

Source: SL 1966, ch 111, ch 24, § 2 (3).
S.D. Codified Laws § 58-1-11 — SD Code / Title 58 / Chapter 1 / Section 58-1-11
General saving clause
Status: in_force

Enactment of this title shall not impair or affect any act done, offense committed or right accruing, accrued, or acquired, or liability, penalty, forfeiture, or punishment incurred prior to July 1, 1966, but the same may be enjoyed, asserted, enforced, prosecuted, or inflicted, as fully and to the same extent as if this enactment had not been passed.

Source: SL 1966, ch 111, ch 1, § 10.
S.D. Codified Laws § 58-14-16.22 — SD Code / Title 58 / Chapter 14 / Section 58-14-16.22
Fees
Status: in_force

The fee for each required document included in any application for accreditation, certification or any annual reinsurance filing, or for approval of or amendments to a trust, required by § 58-14-5 , 58-14-8 , 58-14-9 , 58-14-10 , 58-14-11 , 58-14-13 , 58-14-14 , or §§ 58-14-16.1 to 58-14-16.3 , inclusive, shall be fifty dollars.

Source: SL 2017, ch 211, § 33.
S.D. Codified Laws § 58-16-20 — SD Code / Title 58 / Chapter 16 / Section 58-16-20
Amount of insurance on dependents based upon plan precluding individual selection
Status: in_force

The amount of insurance under § 58-16-18 is based upon some plan precluding individual selection either by the employees or members or by the policyholder, employee or union.

Source: SL 1966, ch 111, ch 24, § 2(2); SL 1983, ch 374, § 2.
S.D. Codified Laws § 58-30-121 — SD Code / Title 58 / Chapter 30 / Section 58-30-121
Additional fee for renewal of license
Status: in_force

The Division of Insurance shall charge each licensee an additional fee of twenty dollars upon renewal of the license. Beginning April 1, 2012, the fee as defined in § 58-2-29 is due on the last day of the licensee's birth month and for each succeeding twenty-four month period. The fee shall be deposited in a separate account, entitled the South Dakota insurance producer's continuing education fund, as funding for the administration of the continuing education program. The director may withhold or not renew the license of any licensee who fails to tender timely payment of the fee.

Source: SL 1984, ch 331, § 8; SL 2001, ch 286, § 188; SL 2002, ch 229, § 2; SL 2007, ch 291, § 2; SL 2010, ch 233, § 10.
S.D. Codified Laws § 58-29F-8 — SD Code / Title 58 / Chapter 29F / Section 58-29F-8
Preliminary and final audit reports
Status: in_force

A preliminary audit report shall be delivered to the pharmacy within sixty days after the conclusion of the audit. A pharmacy shall be allowed at least forty-five days following receipt of the preliminary audit, to provide documentation to address any discrepancy found in the audit. A final audit report shall be delivered to the pharmacy within one hundred twenty days after receipt of the preliminary audit report or final appeal, whichever is later. An entity shall remit any money due to a pharmacy or pharmacist as a result of an underpayment of a claim within forty-five days after the appeals process has been exhausted and the final audit report has been issued.

Source: SL 2013, ch 254, § 8.
S.D. Codified Laws § 58-5-145 — SD Code / Title 58 / Chapter 5 / Section 58-5-145
Exception from disclosure requirement--"Material acquisition" defined
Status: in_force

No acquisitions or dispositions of assets need be reported pursuant to § 58-5-143 if the acquisitions or dispositions are not material. For purposes of this chapter, a material acquisition, or the aggregate of any series of acquisitions during any thirty - day period, or disposition, or the aggregate of any series of dispositions during any thirty - day period, is any acquisition or disposition that is nonrecurring and not in the ordinary course of business and involves more than five percent of the reporting insurer's total admitted assets as reported in its most recent statutory statement filed with the insurance regulatory agency of the insurer's state of domicile.

Source: SL 1995, ch 275, § 2; SL 2000, ch 236, § 1.
S.D. Codified Laws § 58-17D-2 — SD Code / Title 58 / Chapter 17D / Section 58-17D-2
Certain utilization review organizations exempt from managed health care provisions
Status: in_force

A utilization review organization that conducts utilization reviews solely for property and casualty insurers in this state pursuant to policies issued in this state is not subject to chapters 58-17F , 58-17G , 58-17H , and 58-17I except that any such utilization review organization shall register in the same manner as prescribed for utilization review organizations pursuant to §§ 58-17H-35 to 58-17H-39 , inclusive. (SL 2012, ch 239, § 1 provides: "The provisions of chapter 219 of the 2011 Session Laws shall be deemed repealed if the Patient Protection and Affordable Care Act, Pub. L. No. 111-148, 124 Stat. 119 (2010), as amended by the Health Care and Education Reconciliation Act of 2010, Pub. L. No. 111-152, 124 Stat. 1029 (2010) is found to be unconstitutional in its entirety by a final decision of a federal court of competent jurisdiction and all appeals exhausted or time for appeals elapsed.")

Source: SL 2002, ch 231, § 2; SL 2011, ch 219, § 97.
S.D. Codified Laws § 58-18-9 — SD Code / Title 58 / Chapter 18 / Section 58-18-9
Summary statement of coverage for delivery to member of insured group
Status: in_force

Each such group health insurance policy shall contain in substance a provision that the insurer will furnish to the policyholder for delivery to each employee or member of the insured group, a statement in summary form of the essential features of the insurance coverage of such employee or member and to whom benefits thereunder are payable. If dependents are included in the coverage, only one statement need be issued for each family unit.

Source: SL 1966, ch 111, ch 26, § 2 (2).
S.D. Codified Laws § 58-33A-25.1 — SD Code / Title 58 / Chapter 33A / Section 58-33A-25.1
Insurance producer to have adequate knowledge of annuity product--Required training
Status: in_force

No producer may solicit the sale of an annuity product unless the producer has adequate knowledge of the product to recommend the annuity and the producer is in compliance with the insurer's standards for product training. A producer may rely on insurer-provided product-specific training standards and materials to comply with this section. A producer who engages in the sale of annuity products shall complete a one-time four credit training course approved by the director and provided by a director-approved education provider.

A producer who obtains a life insurance line of authority may not engage in the sale of annuities unless the annuity training course required under this section has been completed. The minimum length of the training required under this section shall be sufficient to qualify for at least four continuing education credits, but may be longer. The training required under this section must include information on the following subjects:

(1) The types of annuities and various classifications of annuities;

(2) Identification of the parties to an annuity;

(3) How product-specific annuity contract features affect consumers;

(4) The application of income taxation of qualified and nonqualified annuities;

(5) The primary uses of annuities; and

(6) Appropriate standard of conduct, sales practices, replacement, and disclosure requirements.

An insurance producer who has completed an annuity training course approved by the division prior to January 1, 2023 shall, within six months, complete either a new four credit training course approved by the division or an additional one-time one credit training course approved by the division and provided by the division-approved education provider on appropriate sales practices, replacement, and disclosure requirements under §§ 58-33A-13 to 58-33A-27 , inclusive.

Source: SL 2012, ch 250, § 11; SL 2022, ch 186, § 25, eff. Jan. 1, 2023.
S.D. Codified Laws § 58-1-15 — SD Code / Title 58 / Chapter 1 / Section 58-1-15
Homeowner's insurance policy defined--Notice of nonrenewal to policyholder required--Timing of notice--Exception
Status: in_force

Notice of refusal to renew, as provided in § 58-1-14 , does not apply to a homeowner's insurance policy which shall for the purposes of § 58-1-14 mean a policy normally written by the insurer as a standard homeowner's package policy or as a standard residential renter's package policy or homeowner's multiple peril policy. However, notice of refusal to renew a homeowner's insurance policy is not effective unless mailed or delivered by the insurer to the named insured at least thirty days before the effective renewal date. A notice of nonrenewal is not required if the policyholder is transferred to an insurer that is a member of the same insurance group as the previous insurer and notice of such transfer is given in the form adopted by rule by the Division of Insurance pursuant to chapter 1-26.

Source: SL 1986, ch 414, § 4; SL 2001, ch 264, § 2.
S.D. Codified Laws § 58-29A-101 — SD Code / Title 58 / Chapter 29A / Section 58-29A-101
Immunity from liability of persons acting under chapter
Status: in_force

There is no liability on the part of and no cause of action of any nature may arise against any member insurer, the association or its agents or employees, the board of directors, any person serving as a representative of any director, or the director or the director's representatives for any action taken or any failure to act by them in the performance of their powers and duties under this chapter.

Source: SL 2000, ch 247, § 48.
S.D. Codified Laws § 58-17B-15 — SD Code / Title 58 / Chapter 17B / Section 58-17B-15
Rules in accordance with chapter1-26
Status: in_force

Rules adopted pursuant to this chapter shall be in accordance with the provisions of chapter 1-26 .

Source: SL 1989, ch 440, § 17.
S.D. Codified Laws § 58-5-80 — SD Code / Title 58 / Chapter 5 / Section 58-5-80
Bylaws to cover management during national emergency
Status: in_force

The board of directors of any domestic insurer may at any time adopt emergency bylaws, subject to repeal or change by action of those having power to adopt regular bylaws for the insurer, which shall be operative during such a national emergency and which may, notwithstanding any different provisions of the regular bylaws, or of the applicable statutes, or of the insurer's charter, make any provision that may be reasonably necessary for the operation of the insurer during the period of such emergency.

Source: SL 1966, ch 111, ch 16, § 43 (2).
S.D. Codified Laws § 58-43-16.20 — SD Code / Title 58 / Chapter 43 / Section 58-43-16.20
Compliance of insurers retaining independent accountant on July 1, 2009
Status: in_force

Any domestic insurer retaining a certified public accountant on July 1, 2009 who qualifies as independent shall comply with this chapter for the year ending December 31, 2010, and each year thereafter unless the director permits otherwise.

Source: SL 2009, ch 271, § 35.
S.D. Codified Laws § 58-26-39 — SD Code / Title 58 / Chapter 26 / Section 58-26-39
Change in method of computation of unearned premium reserve--Approval of director required
Status: in_force

After adopting a method for computing the reserve required by § 58-26-36 , an insurer shall not change methods without approval of the director.

Source: SL 1966, ch 111, ch 5, § 5 (4).
S.D. Codified Laws § 58-34-17 — SD Code / Title 58 / Chapter 34 / Section 58-34-17
Surplus funds of existing insurers--Laws governing
Status: in_force

A domestic reciprocal insurer, which held a valid certificate of authority to transact business in this state immediately prior to July 1, 1966, is governed, as to surplus required to be maintained, by §§ 58-6-27 and 58-6-28 .

Source: SL 1966, ch 111, ch 19, § 8 (1).
S.D. Codified Laws § 58-29B-36 — SD Code / Title 58 / Chapter 29B / Section 58-29B-36
Disposition of actions in which insurer a party pending when rehabilitation order entered
Status: in_force

Any court in this state before which any action or proceeding in which the insurer is a party or is obligated to defend a party is pending when a rehabilitation order against the insurer is entered shall stay the action or proceeding for ninety days and such additional time as is necessary for the rehabilitator to obtain proper representation and prepare for further proceedings. The rehabilitator shall take such action respecting the pending litigation as he deems necessary in the interests of justice and for the protection of creditors, policyholders, and the public. The rehabilitator shall immediately consider all litigation pending outside this state and shall petition the courts having jurisdiction over that litigation for stays if necessary to protect the estate of the insurer.

Source: SL 1989, ch 436, § 36.
S.D. Codified Laws § 58-30-137 — SD Code / Title 58 / Chapter 30 / Section 58-30-137
Filing and approval of contract
Status: in_force

The contract between the insurer and the managing general agent shall be filed and approved by the director and is subject to §§ 58-5-85 to 58-5-87 , inclusive.

Source: SL 1992, ch 353, § 14.
S.D. Codified Laws § 58-41-112 — SD Code / Title 58 / Chapter 41 / Section 58-41-112
Minimum inpatient care coverage following delivery
Status: in_force

If a health maintenance contract issued or renewed on or after July 1, 1996, by a health maintenance organization provides maternity coverage, the contract 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 § 58-41-113 . Any individual policy and 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, § 16; SL 1998, ch 290, § 6.
S.D. Codified Laws § 58-9-15 — SD Code / Title 58 / Chapter 9 / Section 58-9-15
Casualty insurance including burglary and theft insurance
Status: in_force

"Casualty insurance" includes burglary and theft insurance, insurance against loss or damage by burglary, theft, larceny, robbery, forgery, fraud, vandalism, malicious mischief, confiscation, or wrongful conversion, disposal, or concealment, or from any attempt at any of the foregoing; including supplemental coverage for medical, hospital, surgical, and funeral expense incurred by the named insured or any other person as a result of bodily injury during the commission of a burglary, robbery, or theft by another; also insurance against loss of or damage to moneys, coins, bullion, securities, notes, drafts, acceptances, or any other valuable papers and documents, resulting from any cause.

Source: SL 1966, ch 111, ch 4, § 6 (1) (e).
S.D. Codified Laws § 58-14-9 — SD Code / Title 58 / Chapter 14 / Section 58-14-9
Requirements for reinsurer to be accredited
Status: in_force

Credit shall be allowed if the reinsurance is ceded to an assuming insurer that is accredited as a reinsurer in this state. For a reinsurer to be accredited, the reinsurer shall:

(1) File with the director evidence of its submission to this state's jurisdiction;

(2) Submit to this state's authority to examine its books and records;

(3) Be licensed to transact insurance or reinsurance in at least one state or, in the case of a United States branch of an alien assuming insurer, be entered through and licensed to transact insurance or reinsurance in at least one state;

(4) File annually with the director a copy of its annual statement filed with the insurance department of its state of domicile and a copy of its most recent audited financial statement; and

(5) Demonstrate to the satisfaction of the director that the reinsurer has adequate financial capacity to meet reinsurance obligations and is otherwise qualified to assume reinsurance from domestic insurers. An assuming insurer is deemed to meet this requirement as of the time of the assuming insurer's application if the assuming insurer maintains a surplus as regards policyholders in an amount not less than twenty million dollars and the assuming insurer's accreditation has not been denied by the director within ninety days after submission of the assuming insurer's application.

The director, after reviewing the documents submitted, may approve or disapprove the reinsurer.

No credit may be allowed a domestic ceding insurer if the assuming insurer's accreditation has been revoked by the director after notice and hearing.

To qualify as an accredited reinsurer, an assuming insurer shall meet all of the requirements of this section.

The director may deny accreditation if the director determines that accreditation would not be in the best interest of the ceding insurer and policyholders.

Source: SL 1992, ch 344, § 3; SL 2017, ch 211, § 2.
S.D. Codified Laws § 58-18-7.19 — SD Code / Title 58 / Chapter 18 / Section 58-18-7.19
Probationary period for continuation or conversion coverage prohibited
Status: in_force

No new probationary or waiting period may be applied to the continuation or conversion coverage.

Source: SL 2001, ch 280, § 4.
S.D. Codified Laws § 58-7-32 — SD Code / Title 58 / Chapter 7 / Section 58-7-32
Deposits by foreign or alien insurers not subject to taxation
Status: in_force

Deposits made by foreign or alien insurers shall not be subject to taxation.

Source: SL 1966, ch 111, ch 7, § 5 (2).
S.D. Codified Laws § 58-41-80 — SD Code / Title 58 / Chapter 41 / Section 58-41-80
Injunctive relief against violations--Venue
Status: in_force

In the event of any violation of the provisions of this chapter, if the director elects not to issue a cease and desist order, or in the event of noncompliance with a cease and desist order pursuant to § 58-41-79 , the director may institute a proceeding to obtain injunctive relief or other appropriate relief in the circuit court serving Hughes County.

Source: SL 1974, ch 321, § 49.
S.D. Codified Laws § 58-17-83 — SD Code / Title 58 / Chapter 17 / Section 58-17-83
Election not to renew individual health benefit plan--Future business restricted
Status: in_force

No carrier that elects not to renew an individual health benefit plan under subdivision 58-17-82(4) may write new business in the individual health benefit plan market in the state for a period of five years from the date of notice to the director.

Source: SL 1996, ch 286, § 18.
S.D. Codified Laws § 58-29C-58 — SD Code / Title 58 / Chapter 29C / Section 58-29C-58
Association subject to regulation by director--Financial report
Status: in_force

The association is subject to examination and regulation by the director. The board of directors shall submit to the director each year, not later than one hundred twenty days after the association's fiscal year, a financial report in a form approved by the director and a report of its activities during the preceding fiscal year. Upon the request of a member insurer, the association shall provide the member insurer with a copy of the report.

Source: SL 2003, ch 252, § 15.
S.D. Codified Laws § 58-38-25 — SD Code / Title 58 / Chapter 38 / Section 58-38-25
Formation of voluntary health insurance purchasing organizations
Status: in_force

Notwithstanding the provisions of chapter 47-34A and §§ 47-15-2 and 47-22-4 , any organization may form for the purposes of purchasing group health insurance on a voluntary basis. For purposes of §§ 58-38-25 to 58-38-35 , inclusive, an organization means any nonprofit organization or nonprofit corporation formed under South Dakota law.

Source: SL 1994, ch 382, § 1; SL 2021, ch 210, § 22.
S.D. Codified Laws § 58-14-32 — SD Code / Title 58 / Chapter 14 / Section 58-14-32
Approval and filing of contract
Status: in_force

The written contract with the agent, pursuant to § 58-14-29 , specifying the responsibilities of each party, shall be approved by the reinsurer's board of directors. At least thirty days before the insurer or reinsurer assumes or cedes business through the agent or broker, the contract in § 58-14-29 shall be filed with the director for approval pursuant to §§ 58-5-85 to 58-5-87 , inclusive.

Source: SL 1992, ch 345, § 9.
S.D. Codified Laws § 58-7-30 — SD Code / Title 58 / Chapter 7 / Section 58-7-30
Right of insurer to deposited assets and securities during solvency
Status: in_force

While the insurer remains solvent and is in compliance with this title it may:

(1) Demand, receive, sue for, and recover the income from the assets or securities deposited;

(2) Exchange and substitute for the deposited assets or securities, or any part thereof, other eligible assets or securities of equivalent or greater value; and

(3) At any reasonable time inspect any such deposit.

Source: SL 1966, ch 111, ch 7, § 10.
S.D. Codified Laws § 58-6-55 — SD Code / Title 58 / Chapter 6 / Section 58-6-55
Reinstatement of authority of insurance producers--Notice to insurer and insurance producers
Status: in_force

Upon reinstatement of the insurer's certificate of authority, the authority of its insurance producers in this state to represent the insurer shall likewise reinstate. The director shall promptly notify by registered or certified mail the insurer and its insurance producers in this state, of record in the division, of such reinstatement. If pursuant to § 58-6-51 the director has published notice of the suspension, the director shall in like manner publish notice of the reinstatement.

Source: SL 1966, ch 111, ch 3, § 21 (4); SL 1982, ch 28, § 18; SL 2001, ch 286, § 78.
S.D. Codified Laws § 58-5A-27 — SD Code / Title 58 / Chapter 5A / Section 58-5A-27
Registration by insurer on behalf of affiliated insurer
Status: in_force

The director may allow any insurer which is authorized to do business in this state and which is part of an insurance holding company system to register on behalf of any affiliated insurer which is required to register under § 58-5A-20 , and to file all information and material required to be filed under the provisions hereof.

Source: SL 1972, ch 267, § 21.
S.D. Codified Laws § 58-6-75 — SD Code / Title 58 / Chapter 6 / Section 58-6-75
Statements of financial condition of insurer--Filing with director--Form and contents--Promulgation of rules--Timeliness of filing
Status: in_force

Each domestic insurer and those domestic insurers subject to chapters 58-34 , 58-37A , 58-38 , 58-39 , 58-40 , and 58-41 , and foreign insurers if required by the director, shall annually, on or before March first, and quarterly, on or before May fifteenth, August fifteenth, and November fifteenth, unless the time is extended by the director for good cause shown, file with the director a true statement of its financial condition, transactions, and affairs as of the December thirty - first preceding for an annual statement and as of March thirty - first, June thirtieth, and September thirtieth, for a quarterly statement. Any statement is to be in a form and content as is approved or adopted for current use by the National Association of Insurance Commissioners, or its successor organization, for use as to the type of insurer and kinds of insurance to be reported upon. The director may require any additional information considered necessary to be supplied with the annual or quarterly statement. The statement of an alien insurer, if required by the director, must be filed annually on or before September first and must relate only to its transactions and affairs in the United States, unless the director requires otherwise. Any annual and quarterly statement, amendments and addenda to any annual and quarterly statement, and any interim statement or amendments must be filed with the National Association of Insurance Commissioners.

Any statement must be prepared in accordance with the Annual Statement Instructions Manual and the Accounting Practices and Procedures Manual prescribed by the National Association of Insurance Commissioners, as promulgated by rule by the director, in accordance with chapter 1-26 . The director may also promulgate rules, in accordance with chapter 1-26 , to establish additional practices and procedures the director considers necessary.

Unless the time for filing has been extended, an insurer must pay a penalty of one hundred dollars per day for every day the statement is late, not to exceed twenty - five thousand dollars.

For purposes of this section, only a statement with a postmark date of the due date or earlier is considered timely filed.

Source: SL 1966, ch 111, ch 3, § 27; SL 1992, ch 342, § 1; SL 1993, ch 97, § 4; SL 1993, ch 357, § 3; SL 1994, ch 375, § 1; SL 1995, ch 276; SL 2001, ch 271, § 1; SL 2025, ch 197, § 1.
S.D. Codified Laws § 58-6-5 — SD Code / Title 58 / Chapter 6 / Section 58-6-5
Foreign insurer--Investments in state without a certificate of authority
Status: in_force

A foreign insurer may make investments in this state without a certificate of authority as provided by § 58-6-1 . Such an insurer shall not be subject to any other provisions of this title.

Source: SL 1966, ch 111, ch 3, § 3.
S.D. Codified Laws § 58-30-90 — SD Code / Title 58 / Chapter 30 / Section 58-30-90
Deposit of trust funds in separate account--Records and account
Status: in_force

If an insurance producer establishes a separate account in which to deposit trust funds in order to avoid a commingling of trust funds with the insurance producer's own funds, the insurance producer may deposit and commingle in such account all such funds but the amount of such funds held for each respective other person must be reasonably ascertainable from the records and accounts of the insurance producer.

Source: SL 1966, ch 111, ch 9, § 28 (1); SL 2001, ch 286, § 174.
S.D. Codified Laws § 58-33-3 — SD Code / Title 58 / Chapter 33 / Section 58-33-3
Acts constituting unfair methods of competition and unfair or deceptive practices
Status: in_force

The following are hereby defined as unfair methods of competition and unfair and deceptive acts or practices in the business of insurance, viz: The commission of any one or more of the acts prohibited by §§ 58-33-4 to 58-33-37 , inclusive.

Source: SL 1966, ch 111, ch 13, § 3.
S.D. Codified Laws § 58-41-55 — SD Code / Title 58 / Chapter 41 / Section 58-41-55
Insurance contracts authorized--Group coverage--Benefit payments
Status: in_force

Notwithstanding any law to the contrary, an insurer or a hospital or medical service corporation may contract with a health maintenance organization to provide insurance or similar protection against the cost of care provided through health maintenance organizations and to provide coverage in the event of the failure of the health maintenance organization to meet its obligations. The enrollees of a health maintenance organization constitute a permissible group for group coverage under the insurance laws and the health service plan corporation laws of this state. Under such contracts, the insurer or health service plan corporation may make benefit payments to health maintenance organizations for health care services rendered, or to be rendered, by providers pursuant to the health care plan. Any insurer, or health service plan corporation, licensed to do business in this state, is authorized to provide the types of coverages described in § 58-41-54 .

Source: SL 1974, ch 321, § 35.
S.D. Codified Laws § 58-27-51.3 — SD Code / Title 58 / Chapter 27 / Section 58-27-51.3
Additional investment authority--Valuation of investments
Status: in_force

Any investment purchased and held pursuant to § 58-27-51.1 or 58-27-51.2 shall be valued in accordance with chapters 58-26 and 58-27 or in accordance with the methods established by the National Association of Insurance Commissioners. If valuation methods are not prescribed by chapter 58-26 or 58-27 , or the National Association of Insurance Commissioners has not established a valuation method for any investment, the investment must be valued at the lower of cost or market.

Source: SL 1997, ch 294, § 13.
S.D. Codified Laws § 58-14-16.28 — SD Code / Title 58 / Chapter 14 / Section 58-14-16.28
List or reciprocal jurisdictions to be published
Status: in_force

The director shall timely create and publish a list of reciprocal jurisdictions that includes any reciprocal jurisdiction as defined under this chapter. A list of reciprocal jurisdictions is published by the NAIC and the director shall consider any other reciprocal jurisdiction included on the list. The director may approve a jurisdiction that does not appear on the list of reciprocal jurisdictions in accordance with criteria provided in this chapter.

The director may remove a jurisdiction from the list of reciprocal jurisdictions upon a determination that the jurisdiction no longer meets one or more of the requirements of a reciprocal jurisdiction in accordance with § 58-14-16.23 . However, the director may not remove from the list a reciprocal jurisdiction as under subdivisions 58-14-16.23 (1) and (2). Upon removal of a reciprocal jurisdiction from this list, credit for reinsurance ceded to an assuming insurer that has its home office or is domiciled in that jurisdiction is allowed if otherwise allowed pursuant to this chapter.

Source: SL 2021, ch 211, § 6.
S.D. Codified Laws § 58-5A-61 — SD Code / Title 58 / Chapter 5A / Section 58-5A-61
Petition to seize or sequester voting securities acquired in violation of chapter
Status: in_force

An insurer or the director may petition the court in Hughes County for an order to seize or sequester any voting securities of the insurer owned directly or indirectly by a person if that person has acquired or is proposed to acquire any voting securities in violation of this chapter.

Source: SL 1992, ch 341, § 28.
S.D. Codified Laws § 58-18C-9 — SD Code / Title 58 / Chapter 18C / Section 58-18C-9
Notification of continuation rights
Status: in_force

A notification of the continuation rights shall be included in each certificate of coverage.

Source: SL 1998, ch 294, § 9; SL 2005, ch 270, § 6.
S.D. Codified Laws § 58-29E-20 — SD Code / Title 58 / Chapter 29E / Section 58-29E-20
Information to be disclosed--Division request
Status: in_force

A pharmacy benefit manager licensed under this chapter shall, at the request of the Division of Insurance, provide:

(1) The amount charged or claimed by the pharmacy benefit manager, in a format that allows the division to identify all instances of spread pricing; and

(2) Information regarding a shared ownership interest by any person defined in § 58-29E-1 .

Source: SL 2023, ch 166, § 18.
S.D. Codified Laws § 58-41-103 — SD Code / Title 58 / Chapter 41 / Section 58-41-103
Additional chapters applicable to purchasing organization
Status: in_force

Any organization is subject to all applicable provisions of chapter 58-3 and chapter 58-33 .

Source: SL 1994, ch 382, § 5.
S.D. Codified Laws § 58-34-61 — SD Code / Title 58 / Chapter 34 / Section 58-34-61
Merger or conversion prohibited
Status: in_force

A domestic reciprocal insurer shall not merge with another reciprocal insurer or be converted to a stock or mutual insurer.

Source: SL 1966, ch 111, ch 19, § 29.
S.D. Codified Laws § 58-5A-35 — SD Code / Title 58 / Chapter 5A / Section 58-5A-35
Notice to director of extraordinary distribution--Approval by director
Status: in_force

No insurer subject to this chapter may pay any extraordinary dividend or make any other extraordinary distribution to its stockholders until thirty days after the director has received notice of the declaration thereof and has approved or has not disapproved the payment within the thirty - day period. For purposes of this section, an extraordinary dividend or distribution is any dividend or distribution which, together with other dividends or distributions made within the preceding twelve months, exceeds, as of December thirty - first of the year immediately preceding, the greater of ten percent of the insurer's surplus to policyholders, or the net gain from operations of the insurer if the insurer is a life insurer, or the net income if the insurer is not a life insurer but does not include pro rata distribution of any class of the insurer's own securities. For the purpose of this section, net gain from operations and net income includes net realized capital gains in an amount not to exceed twenty percent of net unrealized capital gains. An insurer may declare an extraordinary dividend or distribution which is conditional upon the director's approval thereof, and the declaration shall confer no rights upon stockholders until the director has approved or has not disapproved the payment within the thirty - day period.

Source: SL 1972, ch 267, § 29; SL 1993, ch 359, § 1.
S.D. Codified Laws § 58-28-32 — SD Code / Title 58 / Chapter 28 / Section 58-28-32
Deferment of variable death benefits payment--Time period--State of emergency
Status: in_force

Except if variable death benefits are used to pay premiums, the payment of variable death benefits in excess of any minimum death benefits, cash values, policy loans, or partial withdrawals, or the payment of variable death benefits in excess of any partial surrenders, may be deferred either:

(1) For up to six months from the date of the request, if the payments are based on policy values that do not depend on the investment performance of the separate account; or

(2) For any period during which the New York stock exchange is closed for trading, except for normal holiday closing, or for any period during which the securities and exchange commission determines that a state of emergency exists which may make such payment impractical.

Source: SL 2003, ch 251, § 2.
S.D. Codified Laws § 58-5A-45 — SD Code / Title 58 / Chapter 5A / Section 58-5A-45
Pre-acquisition notification--Person defined
Status: in_force

Any person acquiring assets pursuant to § 58-5A-3 shall file a pre - acquisition notification with the director containing the information set forth in § 58-5A-48 thirty days prior to the proposed effective date of the acquisition. Any person failing to file is subject to § 58-5A-53 . For the purposes of this section, "person" does not include any securities broker holding, in the usual and customary brokers function, less than twenty percent of the voting securities of an insurance company or of any person which controls an insurance company.

Source: SL 1992, ch 341, § 4.
S.D. Codified Laws § 58-5A-19 — SD Code / Title 58 / Chapter 5A / Section 58-5A-19
Jurisdiction of court in Hughes County--Director as attorney for service of process
Status: in_force

The court in Hughes County has jurisdiction over every person not resident, domiciled or authorized to do business in this state that is required to file a statement with the director under §§ 58-5A-3 to 58-5A-7 , inclusive, and over all actions involving such person arising out of violations of this chapter. Each person shall appoint the director to be his true and lawful attorney for all lawful process in any action, suit or proceeding arising out of violations of this chapter. Copies of all lawful process shall be served on the director and forthwith transmitted by registered or certified mail by the director to such person at his last known address.

Source: SL 1972, ch 267, § 13; SL 1992, ch 341, § 7.
S.D. Codified Laws § 58-38-11.6 — SD Code / Title 58 / Chapter 38 / Section 58-38-11.6
Coordination, integration, or lessening of benefits restricted
Status: in_force

No group health insurance policy or group subscriber contract issued by a nonprofit corporation delivered or issued for delivery in this state may contain a provision requiring coordination of benefits, integration of benefits, or lessening of policy benefits because of the existence or availability of coverage under an individual health insurance policy or individual subscriber contract issued by a nonprofit corporation.

An individual health insurance policy or individual subscriber contract issued by a nonprofit corporation may be rescinded within its contestable period for material misrepresentation if the full premium is refunded.

This section applies to policies issued or renewed after July 1, 1981.

Source: SL 1981, ch 362, §§ 1, 2.
S.D. Codified Laws § 58-24-34 — SD Code / Title 58 / Chapter 24 / Section 58-24-34
Withholding of or giving false or misleading information--Penalties
Status: in_force

No person or organization shall willfully withhold information from, or knowingly give false or misleading information to, the director, any statistical agency designated by the director, any rating organization, or any insurer, which will affect the rates or premiums chargeable under this chapter. A violation of this section is a Class 2 misdemeanor and shall subject the one guilty of such violation to the penalties provided in §§ 58-24-61 and 58-24-62 .

Source: SL 1966, ch 111, ch 15, § 14; SL 1978, ch 359, § 2.
S.D. Codified Laws § 58-17E-15 — SD Code / Title 58 / Chapter 17E / Section 58-17E-15
Notice of grounds for nonrenewal, suspension, or revocation--Hearing
Status: in_force

If the director has cause to believe that grounds for the nonrenewal, suspension, or revocation of a registration exists, the director shall notify the discount medical plan organization in writing specifically stating the grounds for the refusal to renew or suspension or revocation and may pursue a hearing on the matter in accordance with the provisions of the chapter 1-26 .

Source: SL 2006, ch 257, § 14.
S.D. Codified Laws § 58-33A-16.2 — SD Code / Title 58 / Chapter 33A / Section 58-33A-16.2
Recommendation--Producer responsibilities--Applicability and intent
Status: in_force

The requirements of § 58-33A-16.1 :

(1) Apply to the particular annuity as a whole, the underlying subaccounts to which funds are allocated at the time of purchase or exchange of an annuity, and riders and similar product enhancements;

(2) Create a regulatory obligation but do not create a fiduciary obligation or relationship;

(3) Do not mean the annuity with the lowest one-time or multiple occurrence compensation structure shall necessarily be recommended; and

(4) Do not mean the producer has ongoing monitoring obligations, although such an obligation may be separately owed under the terms of a fiduciary, consulting, investment advising, or financial planning agreement between the consumer and the producer.

Source: SL 2022, ch 186, § 8, eff. Jan. 1, 2023.
S.D. Codified Laws § 58-39-8 — SD Code / Title 58 / Chapter 39 / Section 58-39-8
Contracts with subscribers--Rates charged for services--Approval by director
Status: in_force

Any dental service corporation organized under the provisions of this chapter may enter into contracts with subscribers to furnish dental service through dentists. The rates charged by any such corporation to the subscriber for dental service and the contracts by said corporation with the subscribers for dental service shall at all times be subject to the approval of the director. The contracts by any such corporation with the subscribers for dental service shall be entered into only with dentists regularly licensed to practice their profession by the State of South Dakota. All contracts issued by such corporation to the subscribers shall constitute direct obligations of the corporation and of the dentists with whom such corporation has contracted for dental service.

Source: SL 1966, ch 111, ch 30, § 5.
S.D. Codified Laws § 58-5-126 — SD Code / Title 58 / Chapter 5 / Section 58-5-126
Approval by director of bulk reinsurance by mutual insurer--Disapproval--Notice
Status: in_force

The director of the Division of Insurance shall approve any agreement pursuant to § 58-5-123 within a reasonable time after filing if he finds it to be fair and equitable to each domestic insurer involved, and that such reinsurance would not substantially reduce the protection or service to its policyholders. If the director does not approve, he shall notify each insurer involved in writing specifying his reasons therefor.

Source: SL 1966, ch 111, ch 16, § 41 (2).
S.D. Codified Laws § 58-14-16.26 — SD Code / Title 58 / Chapter 14 / Section 58-14-16.26
Documents that must be provided to the division
Status: in_force

An assuming insurer under § 58-14-16.23 or its legal successor shall provide, if requested by the director, on behalf of itself and any legal predecessors, the following documentation to the director:

(1) For the two years preceding entry into the reinsurance agreement and on an annual basis thereafter, the assuming insurer's annual audited financial statements in accordance with the applicable law of the jurisdiction of its head office or domiciliary jurisdiction, including the external audit report;

(2) For the two years preceding entry into the reinsurance agreement, the solvency and financial condition report or actuarial opinion, if filed with the assuming insurer's supervisor; and

(3) Prior to entry into the reinsurance agreement and not more than semiannually thereafter:

(a) An updated list of all disputed and overdue reinsurance claims that are outstanding for ninety days or more regarding reinsurance assumed from ceding insurers domiciled in the United States; and

(b) Information regarding the assuming insurer's assumed reinsurance by ceding insurer, ceded reinsurance by the assuming insurer, and reinsurance recoverable on paid and unpaid losses by the assuming insurer to allow for the evaluation of the criteria set forth in § 58-14-16.27.

Source: SL 2021, ch 211, § 4.
S.D. Codified Laws § 58-29A-58 — SD Code / Title 58 / Chapter 29A / Section 58-29A-58
Representation of member insurers on board--Domestic insurers
Status: in_force

In approving selections to the board, the director shall consider, among other things, whether all member insurers are fairly represented. No less than two members of the board shall be domestic insurers.

Source: SL 2000, ch 247, § 5.
S.D. Codified Laws § 58-18-24 — SD Code / Title 58 / Chapter 18 / Section 58-18-24
Claim for loss of time--Time for furnishing proof of loss--Notice of continuance of disability
Status: in_force

Subject to § 58-18-20 , every blanket health insurance policy shall contain a provision that in the case of claim for loss of time for disability, written proof of such loss must be furnished to the insurer within thirty days after the commencement of the period for which the insurer is liable, and that subsequent written proofs of the continuance of such disability must be furnished to the insurer at such intervals as the insurer may reasonably require, and that in the case of claim for any other loss, written proof of such loss must be furnished to the insurer within ninety days after the date of such loss. Failure to furnish such proof within such time shall not invalidate nor reduce any claim if it shall be shown not to have been reasonably possible to furnish such proof and that such proof was furnished as soon as was reasonably possible.

Source: SL 1966, ch 111, ch 26, § 5 (4).
S.D. Codified Laws § 58-14-28 — SD Code / Title 58 / Chapter 14 / Section 58-14-28
Refusal to license--Reasons
Status: in_force

The director may refuse to license an agent or broker in reinsurance if the applicant, any one named on the application, or any member, principal, officer or director of the applicant, is not trustworthy; if any controlling person of the applicant is not trustworthy; if there has been a revocation or suspension of a license; or if the applicant has failed to comply with any prerequisite for the issuance of the license. Upon written request by the applicant, the director shall furnish reasons for the basis of the denial.

Source: SL 1992, ch 345, § 5.
S.D. Codified Laws § 58-29F-9 — SD Code / Title 58 / Chapter 29F / Section 58-29F-9
Appeals process
Status: in_force

The entity conducting the audit shall establish a written appeals process which shall include appeals of preliminary reports and final reports.

Source: SL 2013, ch 254, § 9.
S.D. Codified Laws § 58-5-147 — SD Code / Title 58 / Chapter 5 / Section 58-5-147
Types of asset dispositions subject to chapter
Status: in_force

Asset dispositions subject to this chapter include every sale, lease, exchange, merger, consolidation, mortgage, hypothecation, assignment, whether for the benefit of creditors or otherwise, abandonment, destruction, or other disposition.

Source: SL 1995, ch 275, § 4.
S.D. Codified Laws § 58-8-18 — SD Code / Title 58 / Chapter 8 / Section 58-8-18
Uniformity of interpretation of chapter
Status: in_force

This chapter shall be so interpreted as to effectuate its general purpose to make uniform the law of those states which enact it.

Source: SL 1966, ch 111, ch 12, § 2 (2).
S.D. Codified Laws § 58-5-10 — SD Code / Title 58 / Chapter 5 / Section 58-5-10
Disapproval of articles by attorney general--Statement of reasons--Returned to incorporators
Status: in_force

If the attorney general does not approve such articles, he shall return the same to the director with a written statement of his reasons for disapproval. The director shall return all sets of the articles with such written statement to the incorporators.

Source: SL 1966, ch 111, ch 16, § 7 (3).
S.D. Codified Laws § 58-17-1.1 — SD Code / Title 58 / Chapter 17 / Section 58-17-1.1
Grandfathered plans required to cover low-dose mammography--Extent of coverage
Status: in_force

Each policy of health insurance that covers a female and that is delivered, issued for delivery, or renewed in this state, except for a policy that provides coverage for specified disease or other limited benefit coverage, shall provide coverage for screening by low-dose mammography for the presence of occult breast cancer that is subject to the same dollar limits, deductibles, and coinsurance factors as for other radiological examinations. Coverage for the screening shall be provided as follows: ages thirty-five to thirty-nine, one baseline mammography; ages forty to forty-nine, a mammography every other year; and age fifty and older, a mammography every year.

As used in this section, "low-dose mammography" means the X-ray examination of the breast using equipment dedicated specifically for mammography, including the X-ray tube, filter, compression device, screens, films and cassettes, with an average radiation exposure delivery of less than one rad midbreast, with two views for each breast and with interpretation by a qualified radiologist.

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, 29 C.F.R. § 2590, and 45 C.F.R. § 147.

Source: SL 1990, ch 397, §§ 1, 2; SL 1991, ch 400, § 2; SL 2011, ch 216, § 1.
S.D. Codified Laws § 58-14-10 — SD Code / Title 58 / Chapter 14 / Section 58-14-10
A lien assuming insurer--Standards--Surplus required--Examination of records
Status: in_force

Credit shall be allowed if the reinsurance is ceded to an assuming insurer which is domiciled and licensed in, or in the case of a United States branch of an alien assuming insurer is entered through, a state which employs standards regarding credit for reinsurance substantially similar to those applicable under this chapter and the assuming insurer or United States branch of an alien assuming insurer:

(1) Maintains a surplus as regards policyholders in an amount not less than twenty million dollars; and

(2) Submits to the authority of this state to examine its books and records.

Subdivision (1) of this section does not apply to reinsurance ceded and assumed pursuant to pooling arrangements among insurers in the same holding company system.

Source: SL 1992, ch 344, § 4.
S.D. Codified Laws § 58-43-16.17 — SD Code / Title 58 / Chapter 43 / Section 58-43-16.17
Documentation of assertions made in Management's Report of Internal Control over Financial Reporting
Status: in_force

Management shall document and make available at the time of a financial condition examination the basis upon which its assertions, required in § 58-43-16.16 , are made. Management may base its assertions, in part, upon its review, monitoring, and testing of internal controls undertaken in the normal course of its activities.

Source: SL 2009, ch 271, § 32.
S.D. Codified Laws § 58-27-10 — SD Code / Title 58 / Chapter 27 / Section 58-27-10
Loans guaranteed by United States or Canada
Status: in_force

An insurer may invest in loans guaranteed as to principal and interest by the United States of America or Canada, or by any agency or instrumentality of the United States or Canada.

Source: SL 1966, ch 111, ch 6, § 7.
S.D. Codified Laws § 58-29B-124 — SD Code / Title 58 / Chapter 29B / Section 58-29B-124
Priority and order of distribution of claims from insurer's estate
Status: in_force

The priority of distribution of claims from the insurer's estate shall be in accordance with the order in which each class of claims is herein set forth. Every claim in each class shall be paid in full or adequate funds retained for such payment before the members of the next class receive any payment. No subclasses may be established within any class. The order of distribution of claims shall be:

(1) Class 1. The costs and expenses of administration, including but not limited to the following:

(a) The actual and necessary costs of preserving or recovering the assets of the insurer;

(b) Compensation for all services rendered in the liquidation;

(c) Any necessary filing fees;

(d) The fees and mileage payable to witnesses;

(e) Reasonable attorney's fees;

(f) The reasonable expenses of a guaranty association or foreign guaranty association in handling claims;

(2) Class 2. Debts due to employees for services performed to the extent that they do not exceed one thousand dollars and represent payment for services performed within one year before the filing of the petition for liquidation. Officers and directors are not entitled to the benefit of this priority. Such priority shall be in lieu of any other similar priority which may be authorized by law as to wages or compensation of employees;

(3) Class 3. All claims under policies for losses incurred, including third party claims, all claims against the insurer for liability for bodily injury or for injury to or destruction of tangible property which are not under policies, and all claims of a guaranty association or foreign guaranty association. All claims under life insurance and annuity policies, whether for death proceeds, annuity proceeds, or investment values shall be treated as loss claims. That portion of any loss, indemnification for which is provided by other benefits or advantages recovered or recoverable in discharge of familial obligations of support or by way of succession at death or as proceeds of life insurance, or as gratuities. No payment by an employer to this employee may be treated as a gratuity;

(4) Class 4. Claims under nonassessable policies for unearned premium or other premium refunds and claims of general creditors;

(5) Class 5. Claims of the federal or any state or local government. Claims, including those of any governmental body for a penalty or forfeiture, shall be allowed in this class only to the extent of the pecuniary loss sustained from the act, transaction, or proceeding out of which the penalty or forfeiture arose, with reasonable and actual cost occasioned thereby. The remainder of such claims shall be postponed to the class of claims under subdivision (8) of this section;

(6) Class 6. Claims filed late or any other claims other than claims under subdivisions (7) and (8) of this section;

(7) Class 7. Surplus or contribution notes, or similar obligations, and premium refunds on assessable policies. Payments to members of domestic mutual insurance companies shall be limited in accordance with law;

(8) Class 8. The claims of shareholders or other owners.

Source: SL 1989, ch 436, § 124.
S.D. Codified Laws § 58-17E-31 — SD Code / Title 58 / Chapter 17E / Section 58-17E-31
Internet website requirements
Status: in_force

Each discount medical plan organization shall maintain on an internet website page an up-to-date list of the names and addresses of the providers with which it has contracted directly or through a provider network. The internet website address shall be prominently displayed on all of its advertisements, marketing materials, brochures, and discount medical plan cards.

Source: SL 2006, ch 257, § 31.
S.D. Codified Laws § 58-29E-10 — SD Code / Title 58 / Chapter 29E / Section 58-29E-10
Enforcement of chapter--Civil action
Status: in_force

A third-party payor, 340B entity, or a pharmacy, may bring a civil action to enforce this chapter, including injunctive relief, and seek civil damages for a violation of this chapter.

Source: SL 2004, ch 311, § 10; SL 2023, ch 166, § 11; SL 2024, ch 203, § 3, eff. Jan. 1, 2025.
S.D. Codified Laws § 58-30-167.1 — SD Code / Title 58 / Chapter 30 / Section 58-30-167.1
Termination of producer for receipt of hearing notice prohibited
Status: in_force

No insurer may terminate the appointment of a producer based solely on the receipt of a notice of hearing pursuant to § 58-30-167 involving that producer.

Source: SL 2006, ch 263, § 2.
S.D. Codified Laws § 58-12-17 — SD Code / Title 58 / Chapter 12 / Section 58-12-17
Compensation when paintless dent repair method inappropriate--Requiring unreasonable travel prohibited--Repair shop as payee only if insured agrees
Status: in_force

If, for any portion of the vehicle's damage that the insurer has a duty to repair, the paintless dent repair method is inappropriate, the insurer shall compensate the insured for the amount necessary to complete the repairs in the local market area of the insured. The insurer may not require the insured to travel an unreasonable distance to obtain a repair estimate or to have the vehicle repaired. The insurer may not name a repair shop as payee on a compensation check or draft unless agreed to by the insured.

Source: SL 2000, ch 239, § 3.
S.D. Codified Laws § 58-16-39 — SD Code / Title 58 / Chapter 16 / Section 58-16-39
Termination of employment or membership causing policy to cease--Issuance of individual policy to person entitled thereto, application and payment of premium
Status: in_force

Except as provided in § 58-16-31 , a policy of group life insurance shall contain a provision that if the insurance, or any portion of it, on a person covered under the policy ceases because of termination of employment or of membership in the class or classes eligible for coverage under the policy, such person shall be entitled to have issued to him by the insurer, without evidence of insurability, an individual policy of life insurance without health or other supplementary benefits, provided application for the individual policy shall be made, and the first premium paid to the insurer, within thirty - one days after such termination, and provided further that:

(1) The individual policy shall, at the option of such person, be on any one of the forms, except term insurance, then customarily issued by the insurer at the age and for the amount applied for;

(2) The individual policy shall be in an amount not in excess of the amount of life insurance which ceases because of such termination, less the amount of any life insurance for which such person is or becomes eligible under the same or any other group policy within thirty - one days after such termination, provided that any amount of insurance which shall have matured on or before the date of such termination as an endowment payable to the person insured, whether in one sum or in installments or in the form of an annuity, shall not, for the purposes of this provision, be included in the amount which is considered to cease because of such termination; and

(3) The premium on the individual policy shall be at the insurer's then customary rate applicable to the form and amount of the individual policy, to the class of risk to which such person then belongs, and to his age attained on the effective date of the individual policy.

Source: SL 1966, ch 111, ch 24, § 3 (8).
S.D. Codified Laws § 58-24-43 — SD Code / Title 58 / Chapter 24 / Section 58-24-43
Actuarial, technical, or other services provided to subscribers
Status: in_force

Any rating organization may subscribe for or purchase actuarial, technical, or other services, and such services shall be available to all members and subscribers without discrimination.

Source: SL 1966, ch 111, ch 15, § 6 (6).
S.D. Codified Laws § 58-41-35.1 — SD Code / Title 58 / Chapter 41 / Section 58-41-35.1
Alcoholism coverage to be offered at time contract is negotiated
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 §§ 58-17-30.5 and 58-18-7.1 .

Source: SL 1979, ch 344, § 12.
S.D. Codified Laws § 58-5-155 — SD Code / Title 58 / Chapter 5 / Section 58-5-155
Qualified education loan insurer subject to Title 58--Exceptions
Status: in_force

Any qualified education loan insurer is subject to the provisions of Title 58 except as otherwise specifically provided in §§ 58-5-154 to 58-5-160 , inclusive. Notwithstanding any other provision of Title 58, a qualified education loan insurer is not subject to the following provisions of Title 58 and any rules promulgated to implement any such provisions:

(1) Sections 58-4-48 and 58-5-85 ;

(2) Subdivision 58-5-7 (5) to the extent that this subdivision permits only one class of authorized voting common stock or otherwise restricts the authorization of preferred stock, with or without voting rights; and

(3) Chapter 58-5A .

Source: SL 1998, ch 287, § 2; SL 2021, ch 210, § 2.
S.D. Codified Laws § 58-37A-34 — SD Code / Title 58 / Chapter 37A / Section 58-37A-34
Applicability of unfair trade prohibitions--Determination of membership requirements and to whom benefits offered
Status: in_force

Any society and insurance producer authorized to do business in this state is subject to the provisions of chapter 58-33 relating to unfair trade practices. However, nothing in these provisions may be construed as applying to or affecting the right of any society to determine its eligibility requirements for membership or be construed as applying to or affecting the offering of benefits exclusively to members or persons eligible for membership in the society by a subsidiary corporation or affiliated organization of the society.

Source: SL 1990, ch 410, § 34; SL 2001, ch 286, § 219.
S.D. Codified Laws § 58-34-49 — SD Code / Title 58 / Chapter 34 / Section 58-34-49
Savings--Distribution to subscribers
Status: in_force

A reciprocal insurer may from time to time return to its subscribers any unused premiums, savings, or credits accruing to their accounts. Any such distribution shall not unfairly discriminate between classes of risks, or policies, or between subscribers, but this shall not prevent retrospective rating, nor distribution on a retrospective plan nor distribution varying as to classes of subscribers based on the experience of such subscribers.

Source: SL 1966, ch 111, ch 19, § 27.
S.D. Codified Laws § 58-14-16.14 — SD Code / Title 58 / Chapter 14 / Section 58-14-16.14
Applicant for certification certified as reinsurer in National Association of Insurance Commissioners accredited jurisdiction
Status: in_force

If an applicant for certification has been certified as a reinsurer in a National Association of Insurance Commissioners accredited jurisdiction, the director has the discretion to defer to that jurisdiction's certification and has the discretion to defer to the rating assigned by that jurisdiction. Upon approval by the director, the applicant shall be considered to be a certified reinsurer in this state.

Source: SL 2017, ch 211, § 25.
S.D. Codified Laws § 58-35-65 — SD Code / Title 58 / Chapter 35 / Section 58-35-65
Notification of disapproval of plan
Status: in_force

If the director of the Division of Insurance does not approve any such plan and agreement, the director shall notify the corporations in writing, specifying the reasons.

Source: SL 1995, ch 293, § 6.
S.D. Codified Laws § 58-12-30 — SD Code / Title 58 / Chapter 12 / Section 58-12-30
Annual reports of commercial property casualty insurance claims--Exception--Promulgation of rules
Status: in_force

Any carrier who is or has provided commercial property casualty coverage in this state shall provide, at the written request of the insured, annual reports of the claims experience of that insured for the immediate past policy period and for any time frames which are not in excess of three years prior to the policy period for which the request was made. A carrier is not required to provide any claim information that pertains to a prior carrier's experience with that insured. The claims report shall be in sufficient detail so as to provide the insured with data sufficient to assess the insured's future commercial property casualty insurance needs. The director may promulgate rules pursuant to chapter 1-26 regarding the content and time frames for the annual reports.

Source: SL 2007, ch 287, § 1.
S.D. Codified Laws § 58-17H-7 — SD Code / Title 58 / Chapter 17H / Section 58-17H-7
Cost-sharing requirements for out-of-network emergency services
Status: in_force

Cost-sharing requirements for out-of-network emergency services expressed as a copayment amount or coinsurance rate imposed with respect to a covered person cannot exceed the cost-sharing requirement imposed with respect to a covered person if the services were provided in-network.

Source: SL 2011, ch 219, § 32.
S.D. Codified Laws § 58-12-4 — SD Code / Title 58 / Chapter 12 / Section 58-12-4
Life and health insurance--Exemption of benefits and proceeds from execution
Status: in_force

The proceeds of a policy of life or health insurance to the total amount of twenty thousand dollars only, in the absence of any agreement or assignment to the contrary, shall inure to the separate use of the insured, his surviving spouse, or children, as the case may be, independently of the creditors of any of them and shall not be subject to the payment of the debts of any one or all of such persons, notwithstanding that the proceeds may be payable directly to the insured or surviving spouse or children as the named beneficiary or beneficiaries or otherwise; and the proceeds of an endowment policy, payable to the insured on attaining a certain age, to the extent of twenty thousand dollars shall at all times be exempted from the debts of such spouse or children of the insured; and the avails of any life or health insurance or other sum of money not exceeding twenty thousand dollars made payable by any mutual aid or benevolent society to any member or beneficiary spouse or children or both shall likewise be exempt.

Source: SL 1966, ch 111, ch 22, § 31.
S.D. Codified Laws § 58-17-110 — SD Code / Title 58 / Chapter 17 / Section 58-17-110
Commencement of loss
Status: in_force

No disability income insurance policy may require the loss to commence less than thirty days after the date of the accident.

Source: SL 2001, ch 276, § 3.
S.D. Codified Laws § 58-17I-11 — SD Code / Title 58 / Chapter 17I / Section 58-17I-11
Issuance of decision--Required contents
Status: in_force

The decision issued pursuant to § 58-17I-9 shall set forth in a manner calculated to be understood by the covered person or, if applicable, the covered person's authorized representative and include the following:

(1) The titles and qualifying credentials of any person participating in the first level review process (the reviewer);

(2) Information sufficient to identify the claim involved with respect to the grievance, including the date of service, the health care provider, if applicable, the claim amount, the diagnosis code and its corresponding meaning, and the treatment code and its corresponding meaning;

(3) A statement of the reviewer's understanding of the covered person's grievance;

(4) The reviewer's decision in clear terms and the contract basis or medical rationale in sufficient detail for the covered person to respond further to the health carrier's position;

(5) A reference to the evidence or documentation used as the basis for the decision;

(6) For a first level review decision issued pursuant to § 58-17I-9 that upholds the grievance denial:

(a) The specific reason or reasons for the final internal adverse determination, including the denial code and its corresponding meaning, as well as a description of the health carrier's standard, if any, that was used in reaching the denial;

(b) The reference to the specific plan provisions on which the determination is based;

(c) A statement that the covered person is entitled to receive, upon request and free of charge, reasonable access to, and copies of, all documents, records and other information relevant, as the term relevant is defined in § 58-17I-8 to the covered person's benefit request;

(d) If the health carrier relied upon an internal rule, guideline, protocol, or other similar criterion to make the final adverse determination, either the specific rule, guideline, protocol or other similar criterion or a statement that a specific rule, guideline, protocol, or other similar criterion was relied upon to make the final adverse determination and that a copy of the rule, guideline, protocol or other similar criterion will be provided free of charge to the covered person upon request;

(e) If the final adverse determination is based on a medical necessity or experimental or investigational treatment or similar exclusion or limit, either an explanation of the scientific or clinical judgment for making the determination, applying the terms of the health benefit plan to the covered person's medical circumstances or a statement that an explanation will be provided to the covered person free of charge upon request; and

(f) If applicable, instructions for requesting:

(i) A copy of the rule, guideline, protocol, or other similar criterion relied upon in making the final adverse determination, as provided in subsection (d) of this section; or

(ii) The written statement of the scientific or clinical rationale for the determination, as provided in subsection (e) of this section;

(7) If applicable, a statement indicating:

(a) A description of the procedures for obtaining an independent external review of the final adverse determination pursuant to rules promulgated by the director; and

(b) The covered person's right to bring a civil action in a court of competent jurisdiction;

(8) If applicable, the following statement: "You and your plan may have other voluntary alternative dispute resolution options, such as mediation. One way to find out what may be available is to contact your state insurance director.";

(9) Notice of the covered person's right to contact the Division of Insurance for assistance at any time, including the telephone number and address of the Division of Insurance.

Source: SL 2011, ch 219, § 83.
S.D. Codified Laws § 58-18-7.5 — SD Code / Title 58 / Chapter 18 / Section 58-18-7.5
Continuation of coverage upon leaving employment or termination of coverage by insurer--Duration
Status: in_force

Every health benefit program that is self - insured, and every policy of group health insurance providing benefits for hospital or medical expenses delivered or issued for delivery in this state, by a commercial health insurance company, by a nonprofit medical and surgical service plan corporation, by a nonprofit hospital service plan corporation, by a health maintenance organization or by any other similar mechanism shall, in addition to the provisions required by law, include that employees have a right upon leaving employment or the termination of the coverage by the insurer, other than the termination of the policy or contract itself and the replacement thereof by similar coverage, to have the coverage continue for themselves and their eligible dependents for a period of eighteen months for which the employee shall be financially responsible. In the case of a qualified beneficiary who is determined under title II or XVI of the Social Security Act (42 U.S.C. 401) to have been disabled at any time during the first sixty days of continuation coverage, coverage can be continued for twenty - nine months. Nonpayment of the premium by the employer is termination by the employer.

Source: SL 1984, ch 326, § 1; SL 1988, ch 400, § 1; SL 1989, ch 433, § 4; SL 2001, ch 280, § 6.
S.D. Codified Laws § 58-46-23.2 — SD Code / Title 58 / Chapter 46 / Section 58-46-23.2
Prohibited insurance risks
Status: in_force

A captive insurance company may not insure:

(1) Any life or health risk; or

(2) Any personal lines property casualty risk.

Source: SL 2013, ch 257, § 21.
S.D. Codified Laws § 58-29B-32.2 — SD Code / Title 58 / Chapter 29B / Section 58-29B-32.2
Promulgation of rules for appointing committees
Status: in_force

The director may promulgate rules pursuant to chapter 1-26 for appointing committees pursuant to §§ 58-29B-32.1 and 58-29B-46 and establishing the duties to be performed by such committees.

Source: SL 1992, ch 351, § 14.
S.D. Codified Laws § 58-33-17 — SD Code / Title 58 / Chapter 33 / Section 58-33-17
Bonus to policyholder from accumulated surplus on life or annuity policy not discrimination or rebate
Status: in_force

Nothing in §§ 58-33-14 and 58-33-15 shall be construed as including within the definition of discrimination or rebates, in the case of any contract of life insurance or life annuity, paying bonuses to policyholders or otherwise abating their premiums in whole or in part out of surplus accumulated from nonparticipating insurance, provided that any such bonuses, or abatement of premiums shall be fair and equitable to policyholders and for the best interests of its policyholders.

Source: SL 1966, ch 111, ch 13, § 15 (1).
S.D. Codified Laws § 58-30-154 — SD Code / Title 58 / Chapter 30 / Section 58-30-154
Reinstatement of lapsed insurance producer license
Status: in_force

An individual insurance producer who allows his or her license to lapse may, within twelve months from the due date of the renewal fee apply to reinstate the same license without the necessity of passing a written examination. A penalty in the amount of double the unpaid renewal fee shall be required for any license reinstatement. This section only applies to renewals if the continuing education due date was missed or timely payment of the fee was not made.

Source: SL 2001, ch 286, § 14.
S.D. Codified Laws § 58-32-4 — SD Code / Title 58 / Chapter 32 / Section 58-32-4
Chapter not applicable to life and health insurance, annuities, and reinsurance--Exceptions
Status: in_force

The provisions of this chapter do not apply to life and health insurance, annuities, or reinsurance. This section does not prohibit the procurement of coverage otherwise complying with the export requirements of this chapter for:

(1) Disability insurance that has a benefit limit in excess of any benefit limit available from an admitted insurer; or

(2) Health insurance for an individual traveling or temporarily living outside the United States for health care costs incurred abroad.

Source: SL 1966, ch 111, ch 11, § 2 (1); SL 2015, ch 256, § 1; SL 2019, ch 214, § 1.
S.D. Codified Laws § 58-29A-67 — SD Code / Title 58 / Chapter 29A / Section 58-29A-67
Report by directors on history and causes of insolvency
Status: in_force

The board of directors may, at the conclusion of any domestic insurer insolvency in which the association was obligated to pay covered claims, prepare a report on the history and causes of such insolvency, based on the information available to the association, and submit the report to the director.

Source: SL 2000, ch 247, § 14.
S.D. Codified Laws § 58-29C-50 — SD Code / Title 58 / Chapter 29C / Section 58-29C-50
Board of directors--Appointment and term--Vacancies--Compensation
Status: in_force

A. The board of directors of the association shall consist of not less than seven nor more than eleven member insurers serving terms as established in the plan of operation. The insurer members of the board shall be elected by member insurers subject to the approval of the director. Vacancies on the board shall be filled for the remaining period of the term by a majority vote of the remaining board members, subject to the approval of the director.

B. In approving selections or in appointing members to the board, the director may consider whether all member insurers are fairly represented.

C. Members of the board may be reimbursed from the assets of the association for expenses incurred as members of the board of directors, but members of the board may not otherwise be compensated by the association for services rendered.

Source: SL 2003, ch 252, § 7; SL 2020, ch 210, § 4.
S.D. Codified Laws § 58-33A-8 — SD Code / Title 58 / Chapter 33A / Section 58-33A-8
Required disclosures to be clear and conspicuous
Status: in_force

Any information required to be disclosed by rules promulgated pursuant to this chapter shall be set out conspicuously and in close conjunction with the statements to which the information relates or under appropriate captions of such prominence that it does not minimize, render obscure, present in an ambiguous fashion, or intermingle with the context of the advertisement so as to be confusing or misleading.

Source: SL 1999, ch 240, § 8; SL 2000, ch 251, § 7.
S.D. Codified Laws § 58-10-14 — SD Code / Title 58 / Chapter 10 / Section 58-10-14
Business trust defined
Status: in_force

For purposes of subdivision 58-10-4(6), the term, business trust, means a business trust subject to chapter 47-14A or chapter 47-14B .

Source: SL 2006, ch 251, § 3.
S.D. Codified Laws § 58-29B-128 — SD Code / Title 58 / Chapter 29B / Section 58-29B-128
Disposition of unclaimed funds subject to distribution
Status: in_force

All unclaimed funds subject to distribution remaining in the liquidator's hands when he is ready to apply to the court for discharge, including the amount distributable to any creditor, shareholder, member, or other person who is unknown or cannot be found, shall be deposited with the state treasurer, and shall be paid without interest except in accordance with § 58-29B-123 to the person entitled thereto or his legal representative upon proof satisfactory to the state treasurer of his right thereto. Any amount on deposit not claimed within six years from the discharge of the liquidator shall be deemed to have been abandoned and shall be escheated without formal escheat proceedings and be deposited into the general fund.

Source: SL 1989, ch 436, § 128.
S.D. Codified Laws § 58-17F-15 — SD Code / Title 58 / Chapter 17F / Section 58-17F-15
Remedies available to director against health carrier found not in compliance
Status: in_force

In addition to any other remedies permitted by law, if the director determines that a health carrier has not contracted with enough participating providers to assure that covered persons have accessible health care services in a geographic area, that a health carrier's access plan does not assure reasonable access to covered benefits, that a health carrier has entered into a contract that does not comply with this chapter, or that a health carrier has not complied with a provision of this chapter, the director may institute a corrective action that shall be followed by the health carrier or may use any of the director's other enforcement powers to obtain the health carrier's compliance with this chapter.

A covered person shall have access to emergency services twenty-four hours a day, seven days a week to treat emergency medical conditions that require immediate medical attention.

Source: SL 2011, ch 219, § 15.
S.D. Codified Laws § 58-17E-43 — SD Code / Title 58 / Chapter 17E / Section 58-17E-43
Member to be provided written copy of terms of plan
Status: in_force

In addition to the general disclosures required by § 58-17E-41 , each discount medical plan organization shall provide to each new member a copy of the terms of the discount medical plan in written materials.

Source: SL 2006, ch 257, § 41.
S.D. Codified Laws § 58-26-9 — SD Code / Title 58 / Chapter 26 / Section 58-26-9
Valuation not to be inconsistent with approved method
Status: in_force

No valuations under §§ 58-26-2 to 58-26-8 , inclusive, shall be inconsistent with any applicable valuation or method then currently formulated or approved by the national association of insurance commissioners or its successor organization.

Source: SL 1966, ch 111, ch 5, § 16.
S.D. Codified Laws § 58-18B-46 — SD Code / Title 58 / Chapter 18B / Section 58-18B-46
Rules for additional standards for fair marketing and broad availability of benefit plans to small employers--Penalties
Status: in_force

The director may promulgate rules pursuant to chapter 1-26 setting forth additional standards to provide for the fair marketing and broad availability of health benefit plans to small employers in the state. Any violation of §§ 58-18B-37 to 58-18B-48 , inclusive, by a small employer carrier or an insurance producer constitutes an unfair trade practice under chapter 58-33 . Nothing in this section limits or excludes other penalties which are otherwise authorized by law.

Source: SL 1995, ch 281, § 41; SL 2001, ch 286, § 129.
S.D. Codified Laws § 58-6A-17.1 — SD Code / Title 58 / Chapter 6A / Section 58-6A-17.1
Notice to director of changes
Status: in_force

A purchasing group shall, within ten days, notify the director of any changes in any of the items set forth in § 58-6A-17 .

Source: SL 1988, ch 392, § 6.
S.D. Codified Laws § 58-33-62 — SD Code / Title 58 / Chapter 33 / Section 58-33-62
Complaint of violation to division--Determination of reasonableness--Hearing
Status: in_force

Upon a complaint alleging a violation of any provision of §§ 58-33-59 to 58-33-65 , inclusive, filed by a person with the Division of Insurance within sixty days after the cancellation date of the policy, the director of the Division of Insurance shall determine if the complaint is reasonably founded. If the director determines that the complaint is reasonably founded or otherwise has reason to believe that an insurer has engaged in practices that violate any provisions of §§ 58-33-59 to 58-33-65 , inclusive, a hearing on the matter shall be set pursuant to chapter 1-26 .

Source: SL 1985, ch 392, § 4.
S.D. Codified Laws § 58-14-41 — SD Code / Title 58 / Chapter 14 / Section 58-14-41
Compliance with and application of §§58-14-24to58-14-42
Status: in_force

No insurer or reinsurer may continue to do business with an agent or broker negotiating, selling, placing or soliciting reinsurance after July 1, 1993, unless the agent or broker is in compliance with §§ 58-14-24 to 58-14-42 , inclusive. Sections 58-14-24 to 58-14-42 , inclusive, apply to all persons doing insurance business notwithstanding any provision in this title which exempts them from other insurance laws except insurers licensed pursuant to chapter 58-35 which do not have more than one million dollars in direct written premiums and more than one thousand policyholders in any calendar year.

Source: SL 1992, ch 345, § 18.
S.D. Codified Laws § 58-15-15.8 — SD Code / Title 58 / Chapter 15 / Section 58-15-15.8
Insurance policy loan--Determination of interest under adjustable maximum interest rate
Status: in_force

The maximum rate of interest for each policy shall be determined at regular intervals at least once every twelve months, but not more frequently than once in any three - month period. At the intervals specified in the policy, the rate being charged may be increased whenever such increase as determined under an adjustable maximum interest rate would increase that rate by one - half percent or more per year. The rate being charged must be reduced whenever such reduction as determined under § 58-15-15.7 would decrease that rate by one - half percent or more per year.

Source: SL 1982, ch 358, § 5.
S.D. Codified Laws § 58-29B-74 — SD Code / Title 58 / Chapter 29B / Section 58-29B-74
Lien obtainable by legal or equitable proceedings--Simple contract--Exclusions
Status: in_force

A lien obtainable by legal or equitable proceedings upon a simple contract is one arising in the ordinary course of such proceedings upon the entry or docketing of a judgment or decree, or upon attachment, garnishment, execution, or like process, whether before, upon, or after judgment or decree and whether before or upon levy. It does not include liens which under applicable law are given a special priority over other liens which are prior in time.

Source: SL 1989, ch 436, § 74.
S.D. Codified Laws § 58-1-16 — SD Code / Title 58 / Chapter 1 / Section 58-1-16
Exemption of charitable gift annuity from insurance regulation--Qualified organization
Status: in_force

No provision of Title 58 applies to any qualified organization which issues a charitable gift annuity within this state if the qualified organization has operated for a period of ten years and has a minimum of five hundred thousand dollars in unrestricted cash, cash equivalents, or publicly traded securities, exclusive of the assets funding the annuity agreement as of the date of the annuity agreement. For the purposes of this section, a charitable gift annuity means a giving plan or method by which a gift of cash or other property is made to a qualified organization in exchange for its agreement to pay an annuity. For the purposes of this section, a qualified organization means an organization which is either domiciled in South Dakota and has its principal place of business in South Dakota or is qualified to do business in South Dakota as a foreign corporation, and which is exempt from taxation under Section 501(c)(3) of the Internal Revenue Code as a charitable organization and regularly files a copy of Federal Form 990 in the Office of the Attorney General or is exempt from taxation under Section 501(c)(3) of the Internal Revenue Code as a religious organization or is exempt as a publicly owned or nonprofit, privately endowed educational institution approved, accredited, or licensed by the South Dakota Board of Education Standards, the north central association of colleges and schools, or an equivalent public authority of the jurisdiction where the institution is located.

Source: SL 1994, ch 370, § 1; SL 2001, ch 265, § 1; SL 2017, ch 81, § 57.
S.D. Codified Laws § 58-6-32 — SD Code / Title 58 / Chapter 6 / Section 58-6-32
Property insurer including additional kinds of insurance without additional capital or surplus
Status: in_force

A property insurer may without additional capital or additional surplus include such amount and kind of insurance against legal liability for injury, damage, or loss to the person or property of others, and for medical, hospital, and surgical expense related to such injury, as the director deems to be reasonably incidental to insurance of real property against fire and other perils under policies covering farm properties, or residential properties designed for occupancy by not more than four families, with or without incidental office, professional, private school, or studio occupancy by an insured, whether or not the premium or rate charged for certain perils so covered is specified in the policy. No insurer authorized as to property insurance only may pursuant to this section retain risk as to any one subject of insurance as to hazards, other than property insurance hazards, in an amount exceeding ten percent of its surplus to policyholders.

Source: SL 1966, ch 111, ch 3, § 12 (4); SL 2018, ch 278, § 2.
S.D. Codified Laws § 58-1-34 — SD Code / Title 58 / Chapter 1 / Section 58-1-34
Withdrawal of consent
Status: in_force

A withdrawal of consent by a party does not affect the legal effectiveness, validity, or enforceability of a notice or document delivered by electronic means to the party before the withdrawal of consent is effective. A withdrawal of consent by a party is effective within a reasonable period of time after receipt of the withdrawal by the insurer. If an insurer fails to comply with § 58-1-30 , the party may treat the failure as a withdrawal of consent for purposes of §§ 58-1-27 to 58-1-39 , inclusive.

Source: SL 2014, ch 230, § 8.
S.D. Codified Laws § 58-11-30 — SD Code / Title 58 / Chapter 11 / Section 58-11-30
Duration of binder
Status: in_force

No binder shall be valid beyond the issuance of the policy with respect to which it was given, or beyond ninety days from its effective date, whichever period is the shorter.

Source: SL 1966, ch 111, ch 22, § 24 (2).
S.D. Codified Laws § 58-30-136 — SD Code / Title 58 / Chapter 30 / Section 58-30-136
Utilization of managing general agent after July 1, 1992
Status: in_force

No insurer may continue to utilize the services of a managing general agent on and after July 1, 1992, unless the utilization is in compliance with §§ 58-30-124 to 58-30-139 , inclusive.

Source: SL 1992, ch 353, § 13.
S.D. Codified Laws § 58-34-64 — SD Code / Title 58 / Chapter 34 / Section 58-34-64
Liquidation of insurer ordered--Levy of assessment against subscribers
Status: in_force

If liquidation of a reciprocal insurer is ordered, an assessment shall be levied upon the subscribers for such an amount, subject to limits as provided by this chapter, as the director determines to be necessary to discharge all liabilities of the insurer, exclusive of any funds contributed by the attorney or other persons, but including the reasonable cost of the liquidation.

Source: SL 1966, ch 111, ch 19, § 30 (3).
S.D. Codified Laws § 58-35-13 — SD Code / Title 58 / Chapter 35 / Section 58-35-13
Transaction of business without certificate of authority as misdemeanor
Status: in_force

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

Source: SL 1966, ch 111, ch 17, § 9 (4); SL 1978, ch 359, § 2.
S.D. Codified Laws § 58-5A-77 — SD Code / Title 58 / Chapter 5A / Section 58-5A-77
Dividends paid from earned surplus--Exclusions--Promulgation of rules for ordinary dividends
Status: in_force

Insurers subject to this chapter may only pay dividends from earned surplus excluding surplus arising from unrealized capital gains or revaluation of assets. The director may promulgate rules pursuant to chapter 1-26 covering requirements for ordinary dividends including those for approval or disapproval of ordinary dividends.

Source: SL 1993, ch 359, § 3.
S.D. Codified Laws § 58-24-23 — SD Code / Title 58 / Chapter 24 / Section 58-24-23
Hearing on filing--Action by director--Notice of hearing
Status: in_force

If the director shall find that an application pursuant to § 58-24-22 is made in good faith, that the applicant has a specific economic interest, that the applicant would be so aggrieved if his grounds are established, and that such grounds otherwise justify holding a hearing, he shall within thirty days after receipt of such application hold a hearing upon not less than ten days' written notice to the applicant and to every insurer and rating organization which made such filing.

Source: SL 1966, ch 111, ch 15, § 5 (4).
S.D. Codified Laws § 58-17-99 — SD Code / Title 58 / Chapter 17 / Section 58-17-99
Application of §58-17-98--Exemptions
Status: in_force

The provisions of § 58-17-98 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; or

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

Source: SL 1998, ch 291, § 7.
S.D. Codified Laws § 58-6A-20 — SD Code / Title 58 / Chapter 6A / Section 58-6A-20
Director's use of enforcement powers--Injunctive authority
Status: in_force

The director may use any of the enforcement powers available under the laws of this state so long as those powers are not specifically preempted by the Product Liability Risk Retention Act of 1981, as amended by the risk retention amendments of 1986. This includes, but is not limited to, the director's administrative authority to investigate, issue subpoenas, conduct depositions and hearings, issue orders, and impose penalties. With regard to any investigation, administrative proceedings or litigation, the director may rely on the procedural law and regulations of this state. The injunctive authority of the director in regard to risk retention groups is restricted by the requirement that any injunction be issued by a court of competent jurisdiction.

Source: SL 1987, ch 372, § 20.
S.D. Codified Laws § 58-29B-71 — SD Code / Title 58 / Chapter 29B / Section 58-29B-71
Transfer creating equitable lien--Conditions prohibiting perfection
Status: in_force

No transfer which creates an equitable lien may be deemed to be perfected if there are available means by which a legal lien could be created.

Source: SL 1989, ch 436, § 71.
S.D. Codified Laws § 58-15-26.1 — SD Code / Title 58 / Chapter 15 / Section 58-15-26.1
Insurers to pay interest on life insurance proceeds
Status: in_force

Any insurer admitted to transact life insurance in this state shall pay interest on proceeds of, or payments under, any individual or group policy of life insurance which are payable to any beneficiary under a policy issued for delivery in this state.

Source: SL 1987, ch 375, § 1.
S.D. Codified Laws § 58-33-19 — SD Code / Title 58 / Chapter 33 / Section 58-33-19
Readjustment of premium rate permitted for group policy based on loss or expense experience
Status: in_force

Nothing in §§ 58-33-14 and 58-33-15 shall be construed as including within the definition of discrimination or rebates, readjustment of the rate of premium for a group insurance policy based on the loss or expense experience thereunder, at the end of the first or any subsequent policy year of insurance thereunder, which may be made retroactive only for such policy year.

Source: SL 1966, ch 111, ch 13, § 15 (3).
S.D. Codified Laws § 58-17H-14 — SD Code / Title 58 / Chapter 17H / Section 58-17H-14
Health carrier responsibility for utilization review activities
Status: in_force

A health carrier is responsible for monitoring all utilization review activities carried out by, or on behalf of, the health carrier and for ensuring that all requirements of this chapter and applicable rules are met. The health carrier shall also ensure that appropriate personnel have operational responsibility for the conduct of the health carrier's utilization review program.

Source: SL 2011, ch 219, § 39.
S.D. Codified Laws § 58-41-124 — SD Code / Title 58 / Chapter 41 / Section 58-41-124
Notice to director that risk bearing entity has materially failed to perform contract
Status: in_force

A health maintenance organization shall have procedures in place to notify the director within a reasonable time that a risk bearing entity has materially failed to perform under its contract with the health maintenance organization. A health maintenance organization is not in violation of this section if it acts in good faith in its attempt to comply with this section. A health maintenance organization shall maintain systems and controls for reviewing the information provided to the health maintenance organization by the risk bearing entity pursuant to §§ 58-41-120 to 58-41-126 , inclusive.

Source: SL 2013, ch 256, § 39.
S.D. Codified Laws § 58-22-24 — SD Code / Title 58 / Chapter 22 / Section 58-22-24
Deposit by professional bondsperson--Amount--Law governing--Waiver
Status: in_force

Professional bondspersons shall, before writing cash or security bail bonds, deposit with the director in the same manner as required of domestic insurers, an amount determined by the director of not less than ten thousand dollars and an amount necessary to cover forfeitures as required to be filed with the director annually. Such deposit is subject to all laws, rules, and regulations concerning deposits by domestic insurers. The director may waive the deposit requirement contained in this section for a person authorized pursuant to § 58-22-37 to countersign for a bail bondsperson.

Source: SL 1966, ch 111, ch 31, § 24; SL 1966, ch 31, § 18 as added by SL 1967, ch 137; SL 1998, ch 296, § 14.
S.D. Codified Laws § 58-25-22 — SD Code / Title 58 / Chapter 25 / Section 58-25-22
Title insurance company to maintain reserve--Amount
Status: in_force

A title insurance company shall establish and maintain a statutory premium reserve of not less than an amount computed in accordance with this section. The statutory premium reserve shall consist of the aggregate of the statutory premium reserve on January 1, 2002, and:

(1) A sum equal to twenty - four cents for each one thousand dollars of net retained liability under each title insurance policy written for less than five hundred thousand dollars after January 1, 2002; and

(2) A sum equal to twelve cents for each one thousand dollars of net retained liability under each title insurance policy written for five hundred thousand dollars or greater after January 1, 2002.

Source: SL 2002, ch 239, § 1.
S.D. Codified Laws § 58-17B-8 — SD Code / Title 58 / Chapter 17B / Section 58-17B-8
Adoption of rules to establish loss ratio standards
Status: in_force

The director may adopt rules, pursuant to chapter 1-26 , establishing loss ratio standards for long - term care insurance policies provided that a specific reference to long - term insurance policies is contained in the regulation.

Source: SL 1989, ch 440, § 9.
S.D. Codified Laws § 58-37A-12 — SD Code / Title 58 / Chapter 37A / Section 58-37A-12
Nonprofit organization created by society
Status: in_force

A society may create, maintain, and operate, or may establish organizations to operate, not for profit institutions to further the purposes permitted by § 58-37A-5 . The institutions may furnish services free or at a reasonable charge. Any real or personal property owned, held or leased by the society for this purpose shall be reported in the annual statement required by § 58-37A-26 .

It is a Class 2 misdemeanor for a society to own or operate a funeral home or an undertaking establishment.

Source: SL 1990, ch 410, § 12.
S.D. Codified Laws § 58-35-6 — SD Code / Title 58 / Chapter 35 / Section 58-35-6
Incorporators--Number and property ownership required for county mutual insurer
Status: in_force

Twenty - five or more individuals residing in this state, each of whom is an adult and owns farm or ranch land valued at not less than five thousand dollars located in the county of the principal office of the proposed insurer, or any county contiguous to the county of the principal office and who collectively own, in such counties, farm property referred to in § 58-35-29 valued at not less than one hundred twenty - five thousand dollars which they desire to insure, may incorporate as a county mutual insurer.

Source: SL 1966, ch 111, ch 17, § 7 (2); SL 1979, ch 341, § 23.
S.D. Codified Laws § 58-26-56 — SD Code / Title 58 / Chapter 26 / Section 58-26-56
Minimum standard for valuation of policies and contracts
Status: in_force

Except as provided in §§ 58-26-64 to 58-26-74 , inclusive, and § 58-26-84 , the minimum standard for the valuation of policies and contracts issued prior to July 1, 1995, shall be that provided by the laws in effect immediately prior to July 1, 1995. Except as otherwise provided in §§ 58-26-64 to 58-26-74 , inclusive, and § 58-26-84 , the minimum standard for the valuation of all policies and contracts issued on or after July 1, 1995, shall be the commissioners' reserve valuation methods defined in §§ 58-26-75 , 58-26-76 , 58-26-81 , 58-26-82 , and 58-26-84 , three and one-half percent interest, or in the case of life insurance policies and contracts, other than annuity and pure endowment contracts, issued on or after July 1, 1973, four percent interest for such policies issued prior to July 1, 1978, five and one-half percent interest for single premium life insurance policies and four and one-half percent interest for all other policies issued on and after July 1, 1978, and the tables provided for in §§ 58-26-57 to 58-26-63 , inclusive.

Source: SL 1995, ch 284, § 12; SL 2015, ch 254, § 6.
S.D. Codified Laws § 58-5A-20 — SD Code / Title 58 / Chapter 5A / Section 58-5A-20
Registration of subsidiary insurer--Time for registration--Statement required of foreign insurer
Status: in_force

Every insurer which is authorized to do business in this state and which is a member of an insurance holding company system shall register with the director. However, this requirement does not apply to a foreign insurer domiciled in a jurisdiction which has adopted by statute or regulation disclosure requirements and standards substantially similar to those contained herein. Any insurer which is subject to registration under the provisions of this section shall register within fifteen days after it becomes subject to registration and annually thereafter by July first of each year for the previous calendar year, unless the director, for good cause shown, extends the time for registration, and then within the extended time. Nothing in this section prohibits the director from requesting any authorized insurer, which is a member of a holding company system, which is not subject to registration under the provisions of this section for a copy of the registration statement or other information filed by such insurance company with the insurance regulatory authority of its state of domicile.

Source: SL 1972, ch 267, § 14; SL 1992, ch 341, § 43.
S.D. Codified Laws § 58-27-51.1 — SD Code / Title 58 / Chapter 27 / Section 58-27-51.1
Additional investment authority--Life and health insurers
Status: in_force

In addition to the authority provided under § 58-27-51 , an insurer authorized to write life or health insurance, or both, may invest a percentage of the amount by which the insurer's total adjusted capital equals or exceeds two hundred percent of its company action level risk - based capital in investments of any kind, in the discretion of the insurer, without regard to any condition of, restriction in, or exclusion prescribed in chapter 58-27 , and regardless of whether the same or a similar type of investment has been included in, or omitted from, any such section, subject to an aggregate limitation equal to the greatest of:

(1) Fifty percent of the excess of total adjusted capital over the risk - based capital threshold if the insurer has total adjusted capital that equals or exceeds two hundred percent of its company action level risk - based capital;

(2) Seventy-five percent of the excess of total adjusted capital over the risk - based capital threshold if the insurer has total adjusted capital that equals or exceeds two hundred twenty - five percent of its company action level risk - based capital; or

(3) One hundred percent of the excess of total adjusted capital over the risk - based capital threshold if the insurer has total adjusted capital that equals or exceeds two hundred fifty percent of its company action level risk - based capital.

For the purpose of this section, risk - based capital threshold means two hundred percent of an insurer's company action level risk - based capital. The director shall promulgate rules pursuant to chapter 1-26 to define company action level risk - based capital and total adjusted capital.

Source: SL 1997, ch 294, § 11.
S.D. Codified Laws § 58-24-62 — SD Code / Title 58 / Chapter 24 / Section 58-24-62
Suspension of license of rating organization or insurer
Status: in_force

The director may suspend the license of any rating organization or insurer that fails to comply with an order of the director after the time prescribed for an appeal therefrom has expired or the order has been affirmed on appeal. The director may determine when a suspension of license becomes effective. Any suspension remains in effect for the period fixed by the director, or until the order upon which the suspension is based is modified, rescinded, or reversed.

Source: SL 1966, ch 111, ch 15, § 16; SL 2014, ch 239, § 22.
S.D. Codified Laws § 58-30-178 — SD Code / Title 58 / Chapter 30 / Section 58-30-178
Appointment fee required
Status: in_force

An insurer shall pay an appointment fee in the amount as set forth in § 58-2-29 in a manner prescribed by the director for each insurance producer appointed by the insurer.

Source: SL 2001, ch 286, § 38.
S.D. Codified Laws § 58-16-2 — SD Code / Title 58 / Chapter 16 / Section 58-16-2
Employee group insurance permitted--Beneficiaries
Status: in_force

A policy of group life insurance may be issued to an employer, or to the trustees of a fund established by an employer, which employer or trustees shall be deemed the policyholder, to insure employees of the employer for the benefit of persons other than the employer, subject to the requirements of §§ 58-16-3 to 58-16-6 , inclusive. However, an employee of a nonprofit charitable employer, may name the employer as the beneficiary of a policy of group life insurance; provided that the employee has furnished the insurer with a notarized statement, signed by the employee, certifying his intent to voluntarily name the employer as the beneficiary.

Source: SL 1966, ch 111, ch 24, § 1(1); SL 1988, ch 398.
S.D. Codified Laws § 58-23A-1 — SD Code / Title 58 / Chapter 23A / Section 58-23A-1
Exclusion of coverage on basis of execution of arbitration agreement prohibited
Status: in_force

No medical or hospital professional liability insurance policy shall contain a provision or be construed to exclude coverage on the basis of the insured's execution of an agreement contemplated by chapter 21-25B .

Source: SDCL, § 21-25A-3 as added by SL 1976, ch 155, § 2.
S.D. Codified Laws § 58-29A-103 — SD Code / Title 58 / Chapter 29A / Section 58-29A-103
Premiums to include amounts sufficient for assessments
Status: in_force

The rates and premiums charged for insurance policies to which this chapter applies shall include amounts sufficient to recoup a sum equal to the amounts paid to the association by the member insurer less any amounts returned to the member insurer by the association and such rates may not be deemed excessive because they contain an amount reasonably calculated to recoup assessments paid by the member insurer.

Source: SL 2000, ch 247, § 50.
S.D. Codified Laws § 58-15-42 — SD Code / Title 58 / Chapter 15 / Section 58-15-42
Notice by company of election to comply with nonforfeiture benefit provisions--Filing with director
Status: in_force

After July 1, 1966, any company could file with the director a written notice of its election to comply with the provisions of §§ 58-15-31 to 58-15-43 , inclusive, after a specified date before January 1, 1967. After the filing of such notice, then upon such specified date, which shall be the operative date of said sections for such company, this section became operative with respect to the policies thereafter issued by such company. If a company made no such election, the operative date of said sections for such company shall be January 1, 1967.

Source: SL 1966, ch 111, ch 23, § 28 (8).
S.D. Codified Laws § 58-17-153 — SD Code / Title 58 / Chapter 17 / Section 58-17-153
Coverage for treatment of hearing impairment for persons under age nineteen
Status: in_force

Any qualified health plan issued on or after January 1, 2015, that offers coverage for professional audiology services shall include coverage for medically necessary physician services appropriate for the treatment of hearing impairment to a person under the age of nineteen. This shall include professional services rendered by an audiologist licensed pursuant to chapter 36-24 .

The benefits provided shall be subject to the same dollar limits, deductibles, coinsurance and other limitations provided for other covered benefits in the policy.

Nothing in this section requires the payment by the health plan of hearing aids, devices, or equipment to correct hearing impairment or loss.

Source: SL 2014, ch 237, § 1.
S.D. Codified Laws § 58-41-118 — SD Code / Title 58 / Chapter 41 / Section 58-41-118
Diabetes coverage not required of certain plans and policies
Status: in_force

The provisions of § 58-41-117 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, § 12.
S.D. Codified Laws § 58-29B-103 — SD Code / Title 58 / Chapter 29B / Section 58-29B-103
Filing proof of claims--Exceptions
Status: in_force

Proof of all claims shall be filed with the liquidator in the form required by §§ 58-29B-106 to 58-29B-110 , inclusive, on or before the last day for filing specified in the notice required under §§ 58-29B-51 and 58-29B-52 , except that proof of claims for cash surrender values or other investment values in life insurance and annuities need not be filed unless the liquidator expressly so requires.

Source: SL 1989, ch 436, § 103.
S.D. Codified Laws § 58-29B-73 — SD Code / Title 58 / Chapter 29B / Section 58-29B-73
Sections58-29B-69to58-29B-72applicable despite certain creditors or potential bona fide purchasers
Status: in_force

The provisions of §§ 58-29B-69 to 58-29B-72 , inclusive, apply whether or not there are or were creditors who might have obtained liens or persons who might have become bona fide purchasers.

Source: SL 1989, ch 436, § 73.
S.D. Codified Laws § 58-6-71 — SD Code / Title 58 / Chapter 6 / Section 58-6-71
Exemption from retaliatory tax provisions
Status: in_force

Section 58-6-70 shall not apply as to personal income taxes, nor as to ad valorem taxes on real or personal property, nor as to special purpose obligations or assessments imposed by another state in connection with particular kinds of insurance other than property insurance; except that deductions, from premium taxes or other taxes otherwise payable, allowed on account of real estate or personal property taxes paid shall be taken into consideration by the director in determining the propriety and extent of retaliatory action under § 58-6-70 .

Source: SL 1966, ch 111, ch 3, § 29 (2).
S.D. Codified Laws § 58-4A-1 — SD Code / Title 58 / Chapter 4A / Section 58-4A-1
Definition of terms
Status: in_force

Terms used in §§ 58-4A-1 to 58-4A-17 , inclusive, mean:

(1) "Insurer," in addition to those persons defined under subdivision 58-1-2(12), any person or entity transacting insurance with or without a certificate of authority issued by the director of insurance. The term also means health maintenance organizations, legal service insurance corporations, prepaid limited health service organizations, dental and other similar health service plans, and, notwithstanding subdivision 58-1-3(1), fraternal benefit societies;

(2) "Statement," includes any application for insurance, notice, statement, proof of loss, denial, bill of lading, receipt for payment, invoice, account, estimate of property damages, bill for services, diagnosis, prescription, hospital or medical records, X-rays, test results, or other evidence of loss, injury, or expense, whether oral, written, or computer-generated; and

(3) "Designee," the Department of Labor and Regulation, the attorney general, any state's attorney, any duly constituted criminal investigative department or agency of the State of South Dakota or of the United States, any county or municipal law enforcement agency having investigative jurisdiction, and any other person whose services are contracted for by the insurance fraud prevention unit.

Source: SL 1999, ch 241, § 1; SL 2003, ch 272 (Ex. Ord. 03-1), § 20; SL 2011, ch 1 (Ex. Ord. 11-1 ), § 162, eff. Apr. 12, 2011.
S.D. Codified Laws § 58-17H-16 — SD Code / Title 58 / Chapter 17H / Section 58-17H-16
Written utilization review program required--Contents of program document
Status: in_force

A health carrier that requires a request for benefits under the covered person's health plan to be subjected to utilization review shall implement a written utilization review program that describes all review activities, both delegated and nondelegated for the filing of benefit requests, the notification of utilization review and benefit determinations, and the review of adverse determinations in accordance with chapter 58-17I .

The program document shall describe the following:

(1) Procedures to evaluate the medical necessity, appropriateness, efficacy, or efficiency of health care services;

(2) Data sources and clinical review criteria used in decision-making;

(3) Mechanisms to ensure consistent application of review criteria and compatible decisions;

(4) Data collection processes and analytical methods used in assessing utilization of health care services;

(5) Provisions for assuring confidentiality of clinical and proprietary information;

(6) The organizational structure that periodically assesses utilization review activities and reports to the health carrier's governing body; and

(7) The staff position functionally responsible for day-to-day program management.

A health carrier shall prepare an annual summary report in the format specified of its utilization review program activities and file the report, if requested, with the director and the secretary. A health carrier shall maintain records for a minimum of six years of all benefit requests and claims and notices associated with utilization review and benefit determinations made in accordance with §§ 58-17H-27 to 58-17H-32 , inclusive, and §§ 58-17H-40 to 58-17H-48 , inclusive. The health carrier shall make the records available for examination by covered persons and the director upon request.

Source: SL 2011, ch 219, § 41.
S.D. Codified Laws § 58-33-20 — SD Code / Title 58 / Chapter 33 / Section 58-33-20
Reduction of premium rate permitted for large policies
Status: in_force

Nothing in §§ 58-33-14 and 58-33-15 shall be construed as including within the definition of discrimination or rebates, reduction of premium rate for policies of large amount but not exceeding savings in issuance and administration expenses reasonably attributable to such policies as compared with policies of similar plan issued in smaller amounts.

Source: SL 1966, ch 111, ch 13, § 15 (4).
S.D. Codified Laws § 58-29B-104 — SD Code / Title 58 / Chapter 29B / Section 58-29B-104
Circumstances under which claimant making late filing may share in distributions
Status: in_force

The liquidator may permit a claimant making a late filing to share in distributions, whether past or future, as if he were not late, to the extent that any such payment will not prejudice the orderly administration of the liquidation, under the following circumstances:

(1) The existence of the claim was not known to the claimant and that he filed his claim as promptly thereafter as reasonably possible after learning of it;

(2) A transfer to a creditor was avoided under §§ 58-29B-61 to 58-29B-83 , inclusive, or was voluntarily surrendered under §§ 58-29B-84 and 58-29B-85 , and that the filing satisfies the conditions of §§ 58-29B-84 and 58-29B-85 ; or

(3) The valuation under §§ 58-29B-121 and 58-29B-122 , of security held by a secured creditor shows a deficiency, which is filed within thirty days after the valuation.

Source: SL 1989, ch 436, § 104; SL 2021, ch 210, § 18.
S.D. Codified Laws § 58-32-3.1 — SD Code / Title 58 / Chapter 32 / Section 58-32-3.1
Home state defined
Status: in_force

The term, home state, as used in this chapter, means, with respect to an insured:

(1) The state in which an insured maintains its principal place of business or, in the case of an individual, the individual's principal residence; or

(2) If one hundred percent of the insured risk is located out of the state referred to in subdivision (1) of this section, the state to which the greatest percentage of the insured's taxable premium for the insurance contract is allocated.

If more than one insured from an affiliated group are named insureds on a single nonadmitted insurance contract, the term means the home state as determined under subdivision (1) of this section of the member of the affiliated group that has the largest percentage of premium attributable to it under the contract.

Source: SL 2011, ch 223, § 6.
S.D. Codified Laws § 58-6-76 — SD Code / Title 58 / Chapter 6 / Section 58-6-76
Summary of statement of financial condition of insurer--Publication by director
Status: in_force

The director of the Division of Insurance shall cause a summary, condensed from the annual statement of each company to be published three times, at the expense of the company, at legal rates, in a legal newspaper printed and published in each judicial circuit of the state in which the insurance company has a licensed insurance producer. Condensed statements for publication shall be made on blanks furnished by the director, which shall be uniform as to the information conveyed to the public and which, set in nonpareil type, together with the annual certificate of authority of the company, constitute a printed statement uniformly ten inches in length. A printer's affidavit, in duplicate, shall be filed with the director in all cases. The affidavit shall state that the insurance company has paid the newspaper the authorized rate for publishing legal notices, that the full amount named inures to the sole benefit of the publisher or publishers thereof, that no agreement or understanding for the division thereof was made with any person, and that no part thereof was agreed to be paid to any person. Every affidavit of publication shall state in plain terms that the full amount authorized herein was charged and collected for the publication.

Source: SL 1966, ch 111, ch 3, § 27; SL 1982, ch 355; SL 2001, ch 286, § 86.
S.D. Codified Laws § 58-29A-93 — SD Code / Title 58 / Chapter 29A / Section 58-29A-93
Duplicate coverage--Insured to exhaust rights against solvent insurer
Status: in_force

Any person having a claim against an insurer, whether or not the insurer is a member insurer, under any provision in an insurance policy other than a policy of an insolvent insurer which is also a covered claim, shall be required to first exhaust any right under the policy. Any amount payable on a covered claim under this chapter shall be reduced by the amount of any recovery under the insurance policy.

Source: SL 2000, ch 247, § 40.
S.D. Codified Laws § 58-41-83 — SD Code / Title 58 / Chapter 41 / Section 58-41-83
Voluntary conference before commencing actions for violation
Status: in_force

If the director, for any reason, has cause to believe that any violation of this chapter has occurred or is threatened, the director may, before commencing action under § 58-41-81 , 58-41-82 , 58-41-85 , or 58-41-87 , give notice to the health maintenance organization and to the representatives, or other persons who appear to be involved in such suspected violations, to arrange a voluntary conference with the alleged violators or their authorized representatives for the purpose of attempting to ascertain the fact that any violation has occurred or is threatened, to arrive at an adequate and effective means of correcting or preventing such violation.

Source: SL 1974, ch 321, § 45; SL 2013, ch 256, § 29.
S.D. Codified Laws § 58-33-46 — SD Code / Title 58 / Chapter 33 / Section 58-33-46
Imposition of penalty not prevented by cease and desist order
Status: in_force

Sections 58-33-40 to 58-33-45 , inclusive, shall not be deemed to affect or prevent the imposition of any penalty provided by this title or by other law for violation of any other provision of this chapter, whether or not any such hearing is called or held or such desist order issued.

Source: SL 1966, ch 111, ch 13, § 4 (6).
S.D. Codified Laws § 58-46-7 — SD Code / Title 58 / Chapter 46 / Section 58-46-7
Issuance of certificate of authority
Status: in_force

If the director is satisfied that the documents and statements that the captive insurance company has filed comply with the provisions of this chapter, the director shall issue a certificate of authority authorizing it to do insurance business in this state.

Source: SL 1996, ch 287, § 7; SL 2013, ch 257, § 6.
S.D. Codified Laws § 58-6-23 — SD Code / Title 58 / Chapter 6 / Section 58-6-23
Paid-in capital and surplus requirements for certificate of authority
Status: in_force

To qualify for authority to transact any one kind of insurance or combination of kinds of insurance as shown below, a foreign insurer, or a domestic stock insurer applying for its original certificate of authority in this state, or any insurer reapplying for a certificate of authority in this state after having withdrawn from this state for any cause, shall possess and thereafter maintain unimpaired basic paid - in capital stock, if a stock insurer, or unimpaired basic surplus, if a foreign mutual insurer or foreign reciprocal insurer, and shall possess when first so authorized additional funds in surplus as follows:

Kind or Kinds of

Insurance

Basic Capital

or Basic Surplus

Additional

Surplus

Life

Domestic stock insurers

$200,000

$300,000

Foreign insurers

300,000

350,000

Health

Domestic stock insurers

200,000

300,000

Foreign insurers

300,000

350,000

Life and Health

Domestic stock insurers

400,000

400,000

Foreign insurers

400,000

525,000

Property

200,000

300,000

Casualty

Without Workers' Compensation

200,000

300,000

With Workers' Compensation

300,000

350,000

Marine and Transportation

200,000

300,000

Surety

200,000

300,000

Title

200,000

300,000

Multiple lines

400,000

400,000

Source: SL 1966, ch 111, ch 3, § 10 (1); SL 1967, ch 129, § 1.
S.D. Codified Laws § 58-6-28 — SD Code / Title 58 / Chapter 6 / Section 58-6-28
Additional kinds of insurance authorized for insurer holding prior certificate--Capital and surplus requirements
Status: in_force

An insurer described by § 58-6-27 shall not hereafter be granted authority to transact any other or additional kind of insurance unless it then fully complies with the requirements as to capital and surplus, as applied to all the kinds of insurance it then proposes to transact, as provided under §§ 58-6-23 to 58-6-26 , inclusive, as to new domestic insurers.

Source: SL 1966, ch 111, ch 3, § 11 (2).
S.D. Codified Laws § 58-11-64 — SD Code / Title 58 / Chapter 11 / Section 58-11-64
Definition of terms
Status: in_force

Terms used in §§ 58-11-64 to 58-11-76 , inclusive, mean:

(1) "Accident and health carrier," an entity licensed to offer accident and health insurance in this state, or subject to the insurance laws of this state, or subject to the jurisdiction of the director, that contracts or offers to contract to provide, deliver, arrange for, pay for, or reimburse any of the costs of health care services, or any insurer that provides policies of supplemental, disability income, medicare supplement, or long-term care insurance;

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

(3) "Health care services," services for the diagnosis, prevention, treatment, cure, or relief of a health condition, illness, injury, or disease;

(4) "Policy form," any policy, contract, certificate, rider, endorsement, evidence of coverage, or any amendments thereto that are required by law to be filed with the director for approval prior to their sale or issuance for sale in this state;

(5) "Supplemental documents," documents required to be filed in support of policy forms that may or may not be subject to approval;

(6) "Type of insurance," those coverages listed on the NAIC Uniform Life, Accident and Health, Annuity, and Credit Product Coding Matrix under the headings Continuing Care Retirement Communities, Health, Long Term Care, and Medicare Supplement.

Source: SL 2008, ch 261, § 1.
S.D. Codified Laws § 58-15-43.5 — SD Code / Title 58 / Chapter 15 / Section 58-15-43.5
Additional expense allowance
Status: in_force

The additional expense allowance, at the time of the change to the newly defined benefits or premiums, is the sum of one percent of the excess, if positive, of the average amount of insurance at the beginning of each of the first ten policy years subsequent to the change, over the average amount of insurance prior to the change at the beginning of each of the first ten policy years subsequent to the time of the most recent previous change, or, if there has been no previous change, the date of issue of the policy; and one hundred twenty - five percent of the increase, if positive, in the nonforfeiture net level premium.

Source: SL 1982, ch 357, § 9.
S.D. Codified Laws § 58-34-3 — SD Code / Title 58 / Chapter 34 / Section 58-34-3
Attorney defined
Status: in_force

"Attorney," as used in this chapter, refers to the attorney in fact of a reciprocal insurer. The attorney may be an individual, firm, or corporation.

Source: SL 1966, ch 111, ch 19, § 6.
S.D. Codified Laws § 58-29B-47 — SD Code / Title 58 / Chapter 29B / Section 58-29B-47
Effect of order upon policies in effect at time of issuance
Status: in_force

All policies, including bonds and other noncancellable business, other than life or health insurance or annuities, in effect at the time of issuance of an order of liquidation shall continue in force for the lesser of:

(1) A period of thirty days from the date of entry of the liquidation orders;

(2) The expiration of the policy coverage;

(3) The date when the insured has replaced the insurance coverage with equivalent insurance coverage in another insurer or otherwise terminated the policy; or

(4) The liquidator has effected a transfer of the policy obligation pursuant to § 58-29B-49 .

An order of liquidation under §§ 58-29B-41 to 58-29B-45 , inclusive, shall terminate coverages at the time specified in this section for purposes of any other statute.

Policies of life or health insurance or annuities shall continue in force for such period and under such terms as is provided for by any applicable guaranty association or foreign guaranty association.

Policies of life or health insurance or annuities or any period or coverage of such policies not covered by a guaranty association or foreign guaranty association shall terminate according to this section.

Source: SL 1989, ch 436, § 47; SL 1992, ch 351, § 6.
S.D. Codified Laws § 58-30-216 — SD Code / Title 58 / Chapter 30 / Section 58-30-216
Limited lines travel insurance producer responsible for acts of travel retailer
Status: in_force

As the insurer designee, the limited lines travel insurance producer is responsible for the acts of the travel retailer and shall use reasonable means to ensure compliance by the travel retailer with this chapter.

Source: SL 2014, ch 241, § 12.
S.D. Codified Laws § 58-17E-9 — SD Code / Title 58 / Chapter 17E / Section 58-17E-9
Registration of discount medical plan organization
Status: in_force

Any discount medical plan organization that is not offered directly by a health carrier as provided by this chapter, shall register in a format as prescribed by the director and shall file reports and conduct business under the same standards as required of utilization review organizations in accordance with provisions of §§ 58-17H-36 and 58-17H-37 . No health carrier may offer or provide coverage through a person not registered but required to be registered pursuant to §§ 58-17E-9 , 58-17E-39 , 58-17E-41 , and 58-17E-45 , inclusive. Any plan or program that is registered pursuant to § 58-17F-16 is not required to maintain a separate registration pursuant to §§ 58-17E-9 , 58-17E-39 , 58-17E-41 , and 58-17E-45 , inclusive. Any plan or program of discounted goods or services that is offered by a health carrier in conjunction with a health benefit plan, as defined in §§ 58-18-42 and 58-17-66 (9), a Medicare supplement policy as defined in § 58-17A-1 , or other insurance product that is offered by an authorized insurer and that is subject to the jurisdiction of the director is not required to be registered pursuant to §§ 58-17E-9 , 58-17E-39 , 58-17E-41 , and 58-17E-45 , inclusive.

Source: SL 2005, ch 269, § 1; SDCL § 58-17C-104; SL 2006, ch 257, § 44; SL 2011, ch 219, § 98.
S.D. Codified Laws § 58-18-55 — SD Code / Title 58 / Chapter 18 / Section 58-18-55
Purchasing organization's notice of premium charge
Status: in_force

The organization may provide not less than forty - five days advance notice of any benefit or premium change to its members.

Source: SL 1994, ch 382, § 4.
S.D. Codified Laws § 58-9-24 — SD Code / Title 58 / Chapter 9 / Section 58-9-24
Casualty insurance including elevator insurance
Status: in_force

"Casualty insurance" includes elevator insurance, insurance against loss of or damage to any property of the insured, resulting from the ownership, maintenance or use of elevators, except loss or damage by fire.

Source: SL 1966, ch 111, ch 4, § 6 (1) (n).
S.D. Codified Laws § 58-18A-82 — SD Code / Title 58 / Chapter 18A / Section 58-18A-82
Proceedings not subject to statutory requirements
Status: in_force

Sections 58-18A-53 to 58-18A-83 , inclusive, do not affect an action or proceeding commenced before July 1, 2006.

Source: SL 2006, ch 259, § 30.
S.D. Codified Laws § 58-18-53 — SD Code / Title 58 / Chapter 18 / Section 58-18-53
Membership of voluntary health insurance purchasing organizations
Status: in_force

Any organization may have a group health insurance policy issued to that organization on behalf of its members who would be insured under such policy. Members may join the organization, for the purpose of obtaining group health insurance, as individuals, employers, labor unions, associations, or substantially similar groups.

Source: SL 1994, ch 382, § 2.
S.D. Codified Laws § 58-5-43 — SD Code / Title 58 / Chapter 5 / Section 58-5-43
Officers of domestic mutual insurer--Number, designation, election, and terms of office--Powers and duties
Status: in_force

The bylaws of a domestic mutual insurer shall provide the number, designation, election, terms, and powers and duties of the respective corporate officers.

Source: SL 1966, ch 111, ch 16, § 16 (2) (d).
S.D. Codified Laws § 58-2-21 — SD Code / Title 58 / Chapter 2 / Section 58-2-21
Enforcement of provisions of this title
Status: in_force

The director shall enforce the provisions of this title, under the direction and supervision of the Department of Labor and Regulation, and shall execute the duties imposed upon him by this title.

Source: SL 1966, ch 111, ch 2, § 7; SL 2003, ch 272 (Ex. Ord. 03-1), § 20; SL 2011, ch 1 (Ex. Ord. 11-1 ), § 162, eff. Apr. 12, 2011.
S.D. Codified Laws § 58-28-21 — SD Code / Title 58 / Chapter 28 / Section 58-28-21
Valuation of assets allocated to account
Status: in_force

Unless otherwise approved by the director, assets allocated to a separate account shall be valued at their market value on the date of valuation, or if there is no readily available market, then as provided under the terms of the contract or the rules or other written agreement applicable to such separate account.

Source: SL 1966, ch 111, ch 6, § 36 (10); § 36 (8) as amended by SL 1967, ch 131; SDCL, § 58-28-8; SL 1971, ch 266, § 1 (4).
S.D. Codified Laws § 58-30-110 — SD Code / Title 58 / Chapter 30 / Section 58-30-110
Suspension, revocation, or refusal to renew license--Notice by director
Status: in_force

Upon suspension, revocation, or refusal to renew any license, the director shall notify the licensee thereof and give like notice to the insurers represented in case of an insurance producer's license.

Source: SL 1966, ch 111, ch 9, § 34 (1); SL 2001, ch 286, § 183.
S.D. Codified Laws § 58-17-65 — SD Code / Title 58 / Chapter 17 / Section 58-17-65
Individual health insurance plan used in conjunction with managed care plan or utilization review organization
Status: in_force

If a managed care plan or utilization review organization is used in conjunction with an individual health insurance plan, the managed care plan or utilization review organization shall establish a written utilization review program, registering a utilization review organization, and requesting information in the same manner as a managed care plan or utilization review organization subject to chapter 58-17H .

Source: SL 1996, ch 296, § 7; SL 2021, ch 210, § 10.
S.D. Codified Laws § 58-47-11 — SD Code / Title 58 / Chapter 47 / Section 58-47-11
Immediate termination of insurance
Status: in_force

An insurer may immediately terminate an enrolled customer's enrollment under a portable electronics insurance policy:

(1) If the enrolled customer ceases to have an active service with the vendor of portable electronics; or

(2) If an enrolled customer exhausts the aggregate limit of liability, if any, under the terms of the portable electronics insurance policy and the insurer sends notice of termination to the enrolled customer within thirty calendar days after exhaustion of the limit. However, if notice is not timely sent, enrollment shall continue notwithstanding the aggregate limit of liability until the insurer sends notice of termination to the enrolled customer.

Source: SL 2012, ch 251, § 11.
S.D. Codified Laws § 58-29F-7 — SD Code / Title 58 / Chapter 29F / Section 58-29F-7
Validation of pharmacy record and delivery
Status: in_force

To validate the pharmacy record and delivery, the pharmacy may use authentic and verifiable statements or records including medication administration records of a nursing home, assisted living facility, hospital, physician, or other authorized practitioner or additional audit documentation parameters located in the provider manual. Any legal prescription that meets the requirements in this chapter may be used to validate claims in connection with prescriptions, refills, or changes in prescriptions, including medication administration records, faxes, e-prescriptions, or documented telephone calls from the prescriber or the prescriber's agents.

Source: SL 2013, ch 254, § 7.
S.D. Codified Laws § 58-11-10 — SD Code / Title 58 / Chapter 11 / Section 58-11-10
Additional policy provisions--Approval of director
Status: in_force

A policy may contain additional lawful provisions, including reasonable policy exclusions, not inconsistent with this title, subject to the director's approval.

Source: SL 1966, ch 111, ch 22, § 18; SL 2010, ch 235, § 1.
S.D. Codified Laws § 58-30-116 — SD Code / Title 58 / Chapter 30 / Section 58-30-116
Minimum continuing education requirements--Furnishing evidence of completion
Status: in_force

Biennially, beginning April 1, 2012, on the last day of the licensee's birth month, the licensee shall furnish evidence to the director of the Division of Insurance that the licensee has satisfactorily completed the following continuing education requirements:

(1) Any licensee who holds a property casualty life, accident/health, or variable contract qualification shall obtain a minimum of ten continuing education credit hours in courses certified for each such classification. However, no more than twenty hours of continuing education may be required of any licensee holding multiple insurance producer licenses; and

(2) Any licensee who holds only a crop hail qualification shall obtain a minimum of four credit hours certified for that line.

Source: SL 1984, ch 331, § 3; SL 2001, ch 286, § 186; SL 2002, ch 240, § 5; SL 2010, ch 233, § 9.
S.D. Codified Laws § 58-33-100 — SD Code / Title 58 / Chapter 33 / Section 58-33-100
Confidentiality of notifications--Use of information in legal and regulatory actions
Status: in_force

Any notification made pursuant to § 58-33-98 is confidential and privileged from disclosure in response to a subpoena or otherwise, and is not subject to discovery or admissible in evidence in any private action. Nothing in §§ 58-33-93 to 58-33-116 , inclusive, limits the director's authority to use a report filed or information provided pursuant to §§ 58-33-93 to 58-33-116 , inclusive, in the furtherance of any legal or regulatory action that the director, in the director's sole discretion, determines to be necessary to further the purposes of §§ 58-33-93 to 58-33-116 , inclusive.

Source: SL 2007, ch 292, § 8.
S.D. Codified Laws § 58-41-88 — SD Code / Title 58 / Chapter 41 / Section 58-41-88
Administrative procedure and rules
Status: in_force

The provisions of chapter 1-26 , including the right of judicial review, apply to proceedings under §§ 58-41-85 to 58-41-91 , inclusive, to the extent those provisions are not in conflict with other provisions of such sections.

Source: SL 1974, ch 321, § 39 (4); SL 2000, ch 235, § 5.
S.D. Codified Laws § 58-27-95 — SD Code / Title 58 / Chapter 27 / Section 58-27-95
Restructuring of medium or lower grade obligation already held
Status: in_force

A domestic insurer is not prohibited from acquiring an obligation as a result of a restructuring of a medium or lower grade obligation already held.

Source: SL 1992, ch 350, § 7.
S.D. Codified Laws § 58-30-153 — SD Code / Title 58 / Chapter 30 / Section 58-30-153
Term of insurance producer license
Status: in_force

An insurance producer license shall remain in effect unless revoked, suspended, or expired as long as the fee set forth in § 58-2-29 is paid and the education requirements for resident individual insurance producers are met by the due date.

Source: SL 2001, ch 286, § 13.
S.D. Codified Laws § 58-41-94 — SD Code / Title 58 / Chapter 41 / Section 58-41-94
Summary proceeding to reorganize organization--Grounds
Status: in_force

The director may apply for an order directing him to rehabilitate, liquidate, or conserve a health maintenance organization upon any one or more of the grounds set out in chapter 58-29B , or when in his opinion the continued operation of the health maintenance organization would be hazardous either to the enrollees or the people of this state.

Source: SL 1974, ch 321, § 40.
S.D. Codified Laws § 58-17-33 — SD Code / Title 58 / Chapter 17 / Section 58-17-33
Misstatement of age--Policy provision for adjustment of benefits
Status: in_force

There may be a provision as follows: "Misstatement of age: If the age of the insured has been misstated all amounts payable under this policy shall be such as the premium paid would have purchased at the correct age."

Source: SL 1966, ch 111, ch 25, § 18.
S.D. Codified Laws § 58-29B-160 — SD Code / Title 58 / Chapter 29B / Section 58-29B-160
Owner of secured claim--Elections
Status: in_force

The owner of a secured claim against an insurer for which a liquidator has been appointed in this or any other state may surrender his security and file his claim as a general creditor, or the claim may be discharged by resort to the security in accordance with §§ 58-29B-122 and 58-29B-123 , in which case the deficiency, if any, shall be treated as a claim against the general assets of the insurer on the same basis as claims of unsecured creditors.

Source: SL 1989, ch 436, § 160.
S.D. Codified Laws § 58-34-1 — SD Code / Title 58 / Chapter 34 / Section 58-34-1
Reciprocal insurance defined
Status: in_force

"Reciprocal" insurance is that resulting from an interexchange among persons, known as "subscribers," of reciprocal agreements of indemnity, the interexchange being effectuated through an "attorney in fact" common to all such persons.

Source: SL 1966, ch 111, ch 19, § 1.
S.D. Codified Laws § 58-35-77 — SD Code / Title 58 / Chapter 35 / Section 58-35-77
Articles of division of farm mutual--Articles of incorporation--Filing--Application of chapter provisions
Status: in_force

The articles of division of a farm mutual, if approved, shall set forth the approved plan and such other information as required by § 58-35-63 and shall be filed and approved as provided for by § 58-35-64 . Each part of the plan that contains the articles of a new farm mutual shall be separately filed and recorded as articles of incorporation for such new farm mutual. Any new farm mutual formed pursuant to §§ 58-35-75 to 58-35-77 , inclusive, is subject to the provisions of this chapter in the same manner as any other farm mutual.

Source: SL 2005, ch 277, § 3.
S.D. Codified Laws § 58-26-100 — SD Code / Title 58 / Chapter 26 / Section 58-26-100
Prescribed formulaic reserve component
Status: in_force

A principle-based valuation may include a prescribed formulaic reserve component.

Source: SL 2015, ch 254, § 34.
S.D. Codified Laws § 58-16-14 — SD Code / Title 58 / Chapter 16 / Section 58-16-14
Industry fund groups--Persons eligible for insurance
Status: in_force

The persons eligible for insurance under § 58-16-12 shall be all of the employees of the employers or all of the members of the unions, or all of any class or classes thereof determined by conditions pertaining to their employment, or to membership in the unions, or to both. The policy may provide that the term "employees" shall include retired employees, and the individual proprietor or partners if an employer is an individual proprietor or a partnership. No director of a corporate employer shall be eligible for insurance under the policy unless such person is otherwise eligible as a bona fide employee of the corporation by performing services other than the usual duties of a director. No individual proprietor or partner shall be eligible for insurance under the policy unless he is actively engaged in and devotes a substantial part of his time to the conduct of the business of the proprietor or partnership. The policy may provide that the term "employees" shall include the trustees or their employees, or both, if their duties are principally connected with such trusteeship.

Source: SL 1966, ch 111, ch 24, § 1 (4) (b).
S.D. Codified Laws § 58-9-26 — SD Code / Title 58 / Chapter 9 / Section 58-9-26
Casualty insurance including loss from failure to file instrument relating to personal property
Status: in_force

"Casualty insurance" includes insurance against loss resulting from failure to file or record written instruments affecting the title of or creating a lien upon personal property.

Source: SL 1966, ch 111, ch 4, § 6 (1) (p).
S.D. Codified Laws § 58-24-68 — SD Code / Title 58 / Chapter 24 / Section 58-24-68
Exempt commercial policyholder--Definition
Status: in_force

For the purposes of §§ 58-24-68 to 58-24-74 , inclusive, the term, exempt commercial policyholder, means any person who applies for or procures any kind of property casualty insurance, except title or workers' compensation insurance, through the use of a risk manager employed or retained by such person, and meets at least two of the following qualifications:

(1) Has purchased the insurance with aggregate premiums in the sum of at least fifty thousand dollars, during the most recently completed calendar year;

(2) Has a net worth of at least ten million dollars, as reported in the policyholder's most recently issued financial statement, reviewed or audited by an independent certified public accountant;

(3) Has annual net revenues or net sales of at least ten million dollars, as reported in the policyholder's most recently issued financial statement, reviewed or audited by an independent certified public accountant;

(4) Employs at least one hundred full - time employees, either individually or, if the policyholder is a member of an affiliated group, collectively with all members of the affiliated group;

(5) Has, if the policyholder is a nonprofit organization, an annual operating budget of at least two million five hundred thousand dollars, for the most recently completed calendar or fiscal year, whichever applies;

(6) Has, if the policyholder is a public entity, an operating budget of at least ten million dollars, for the most recently completed calendar or fiscal year, whichever applies; or

(7) Has, if the policyholder is a municipality, a population of at least twenty thousand.

Source: SL 2004, ch 307, § 1; SL 2022, ch 183, § 1.
S.D. Codified Laws § 58-22-27 — SD Code / Title 58 / Chapter 22 / Section 58-22-27
Appointment of runners--Director's approval required--Grounds for denying appointment
Status: in_force

Every person duly licensed as a bail bondsperson may appoint as a runner any person who holds or has qualified for a runner's license. Each bail bondsperson appointing a runner in this state shall file with, and obtain approval from the director for each appointment which shall be in a format prescribed by the director, and pay a fee of ten dollars. The appointment is effective upon the date it is processed by the Division of Insurance. The director may deny an appointment for reasons of protection of the public health, welfare, or safety, including the following:

(1) The runner to be appointed is not properly licensed;

(2) An investigation or administrative action concerning the runner or bail bondsperson by the Division of Insurance is eminent or on - going;

(3) Material omission, misstatement, misrepresentation, or fraud in applying for the appointment; or

(4) Conviction of, or a plea of guilty or nolo contendere to, a felony or any crime involving moral turpitude.

The director shall give written notice to the bail bondsperson of approval, denial, or delay of a runner's appointment within thirty days of the bail bondsperson filing the appointment and shall send a copy of the notice to the runner.

Source: SL 1966, ch 111, ch 31, § 21; SL 1998, ch 296, § 18.
S.D. Codified Laws § 58-29B-81 — SD Code / Title 58 / Chapter 29B / Section 58-29B-81
Preferred creditor--Setoff for new credit issued in good faith
Status: in_force

If a creditor has been preferred, and afterward in good faith gives the insurer further credit without security of any kind, for property which becomes a part of the insurer's estate, the amount of the new credit remaining unpaid at the time of the petition may be set off against the preference which would otherwise be recoverable from him.

Source: SL 1989, ch 436, § 81.
S.D. Codified Laws § 58-1-2 — SD Code / Title 58 / Chapter 1 / Section 58-1-2
Definition of terms
Status: in_force

Terms used in this title mean:

(1) "Alien insurer," one formed under the laws of any country or jurisdiction other than the United States of America, its states, districts, territories, and commonwealths;

(2) "Authorized insurer," one authorized, by a subsisting certificate of authority issued by the director, to engage in the insurance business in this state;

(3) "Certificate of authority," permission granted to an insurer to issue policies or make contracts of insurance in this state;

(4) "Director," the director of the Division of Insurance;

(5) "Division," the Division of Insurance of the Department of Labor and Regulation;

(6) "Domestic insurer," one formed under the laws of this state;

(7) "Foreign insurer," one formed under the laws of any jurisdiction other than this state; except where distinguished by context, foreign insurer includes an alien insurer;

(8) "Insurance," a contract whereby one undertakes to indemnify another or to pay or provide a specified or determinable amount or benefit upon determinable contingencies;

(9) "Insurance business," includes the transaction of all matters pertaining to a contract of insurance, both before and after the effectuation of that contract, and all matters arising out of that contract or any claim thereunder;

(10) "Insurer," every person engaged as indemnitor, surety, or contractor in the business of entering into contracts of insurance;

(11) "License," permission granted to an agent or broker to engage in those activities permitted by such persons under this title;

(12) Repealed by SL 2001, ch 263, § 1.

(13) "Mechanical breakdown insurance," any contract or agreement, issued by an authorized insurer, to perform or indemnify for a specific duration the repair, replacement, or maintenance of property for operational or structural failure due to a defect in materials, workmanship, or normal wear and tear;

(14) "Person," an individual, insurer, company, association, organization, Lloyds, society, reciprocal or inter-insurance exchange, partnership, syndicate, business trust, corporation, and any other legal entity;

(15) "Principal office" or "principal place of business," the office or regional home office from which the business affairs of the insurer are directed and managed;

(16) "Producer," any person required to be licensed under the laws of this state to sell, solicit, or negotiate insurance. The terms also means an insurance agent;

(17) "State," when used in context signifying a jurisdiction other than the State of South Dakota, a state, the District of Columbia, a territory, commonwealth, or possession of the United States of America, or a province of the Dominion of Canada; and

(18) "Unauthorized insurer," one which does not hold a subsisting certificate of authority issued by the director to engage in the insurance business in this state.

(19) "Vehicle theft protection product," a device or system installed on or applied to a motor vehicle that is designed to prevent loss or damage to a motor vehicle from theft.

Source: SL 1966, ch 111, ch 1, § 2; SL 1982, ch 350; SL 1988, ch 387, § 1; SL 2000, ch 233, § 2; SL 2001, ch 263, §§ 1, 2, ch 286, § 56; SL 2003, ch 272 (Ex. Ord. 03-1), § 27; SL 2004, ch 295, § 1; SL 2011, ch 1 (Ex. Ord. 11-1), § 162, eff. Apr. 12, 2011; SL 2022, ch 180, § 1.
S.D. Codified Laws § 58-17E-8 — SD Code / Title 58 / Chapter 17E / Section 58-17E-8
Notification of director required where discount medical plan organization loses registration or is subject to disciplinary proceeding in another state
Status: in_force

If a discount medical plan organization loses its registration, or other form of authority to operate as a discount medical plan organization in another state, or is the subject of any disciplinary administrative proceeding related to the organization's operating as a discount medical plan organization in another state, the discount medical plan organization shall immediately notify the director.

Source: SL 2006, ch 257, § 8.
S.D. Codified Laws § 58-29D-20.1 — SD Code / Title 58 / Chapter 29D / Section 58-29D-20.1
Annual report to employer of self-funded health benefit plan claims experience
Status: in_force

Any administrator for an employer self-funded health benefit plan shall provide, at the written request of the employer, annual reports of the claims experience of that employer for the immediate past policy period and for any time frame that is not more than three years prior to the policy period in which the request was made. No administrator is required to provide any claims information that pertains to a prior administrator's experience with that employer. The claims report shall be of sufficient detail so as to provide the employer with the data necessary to assess the employer's future health benefit coverage needs and shall be provided to the employer within thirty days of receipt of the written request of the employer.

Source: SL 2006, ch 261, § 1.
S.D. Codified Laws § 58-37A-23 — SD Code / Title 58 / Chapter 37A / Section 58-37A-23
Exemption from other insurance laws
Status: in_force

Except as provided in this chapter, societies are exempt from all other provisions of the insurance laws of this state unless they are expressly designated in the law, or unless it is specifically made applicable by this chapter.

Source: SL 1990, ch 410, § 23.
S.D. Codified Laws § 58-8-2 — SD Code / Title 58 / Chapter 8 / Section 58-8-2
Acts which do not constitute representing or aiding unauthorized insurer
Status: in_force

Section 58-8-1 shall not apply to:

(1) Acceptance of service of process by the director under § 58-8-8 ;

(2) Surplus lines insurance, and other transactions as to which a certificate of authority is not required of an insurer as stated in § 58-6-4 ;

(3) Reinsurance as authorized by chapter 58-14 ;

(4) The services of an adjuster with respect to claims under policies lawfully solicited, issued and delivered outside South Dakota;

(5) The professional services of an attorney at law.

Source: SL 1966, ch 111, ch 12, § 1 (1).
S.D. Codified Laws § 58-11A-1 — SD Code / Title 58 / Chapter 11A / Section 58-11A-1
Definitions
Status: in_force

Terms used in this chapter, unless the context otherwise clearly requires:

(1) "Company" or "insurer," any life or health insurance company, fraternal benefit society, nonprofit health service corporation, nonprofit hospital service corporation, nonprofit medical service corporation, prepaid health plan, dental care plan, vision care plan, pharmaceutical plan, health maintenance organization, or any similar organization;

(2) "Policy" or "policy form," any policy, contract, plan, or agreement of life or health insurance, including credit life insurance and credit health insurance, delivered or issued for delivery in this state by any company subject to this chapter; any certificate, contract or policy issued by a fraternal benefit society; and any certificate issued pursuant to a group insurance policy delivered or issued for delivery in this state;

(3) "Text," all printed matter except the following:

(a) The name and address of the insurer; the name, number, or title of the policy; the table of contents or index; captions and subcaptions; specification pages, schedules, or tables; and

(b) Any policy language which is drafted to conform to the requirements of any federal law, regulation, or agency interpretation; any policy language required by any collectively bargained agreement; any medical terminology; any words which are defined in the policy; and any policy language required by law or regulation. However, the insurer may identify the language or terminology excepted by this section and may certify, in writing, that the language or terminology is entitled to be excepted by this section.

Source: SL 1981, ch 360, § 1.