S.D. Codified Laws § 58-24-55 — SD Code / Title 58 / Chapter 24 / Section 58-24-55
Unfair or unreasonable advisory organization practices--Order requiring discontinuance
Status: in_force

If the director finds that an advisory organization has furnished information or assistance that involves any act or practice which is unfair or unreasonable or otherwise inconsistent with the provisions of this chapter, the director may issue an order specifying in what respect such act or practice is unfair or unreasonable or otherwise inconsistent with the provisions of this chapter, and requiring the discontinuance of such act or practice.

Source: SL 1966, ch 111, ch 15, § 10 (3); SL 2014, ch 239, § 17.
S.D. Codified Laws § 58-17-19 — SD Code / Title 58 / Chapter 17 / Section 58-17-19
Reinstatement when premium not paid within grace period
Status: in_force

There shall be a provision as follows: "Reinstatement: If any renewal premium be not paid within the time granted the insured for payment, a subsequent acceptance of premium by the insurer or by any insurance producer duly authorized by the insurer to accept such premium, without requiring in connection therewith an application for reinstatement, shall reinstate the policy; provided, however, that if the insurer or such insurance producer requires an application for reinstatement and issues a conditional receipt for the premium tendered, the policy will be reinstated upon approval of such application by the insurer or, lacking such approval, upon the forty - fifth day following the date of such conditional receipt unless the insurer has previously notified the insured in writing of its disapproval of such application. The reinstated policy shall cover only loss resulting from such accidental injury as may be sustained after the date of reinstatement and loss due to such sickness as may begin more than ten days after such date. In all other respects the insured and insurer shall have the same rights thereunder as they had under the policy immediately before the due date of the defaulted premium, subject to any provisions endorsed hereon or attached hereto in connection with a reinstatement. Any premium accepted in connection with a reinstatement shall be applied to a period for which premium has not been previously paid, but not to any period more than sixty days prior to the date of reinstatement."

Source: SL 1966, ch 111, ch 25, § 7; SL 2001, ch 286, § 117.
S.D. Codified Laws § 58-33-106 — SD Code / Title 58 / Chapter 33 / Section 58-33-106
Requirements for engaging in transacting of insurance by issuing stop loss policy
Status: in_force

No insurer may engage in the transacting of insurance by issuing a stop loss policy unless the insurer is an admitted insurer in this state and the stop loss policy form has been filed and approved by the division, unless the form is exempt by law from filing. The transacting of insurance includes:

(1) Issuing a stop loss policy covering an employer located in this state. Coverage of an employer for claims incurred under the employer's self-funded health benefit plan with a stop loss policy is insurance, not reinsurance, regardless of whether the contract is described by the insurer as reinsurance; or

(2) Issuing a stop loss policy to a trust or trustee, whether the trust or trustee is located in this state or otherwise, if an employer located in this state is directly or indirectly the beneficiary of the trust.

Source: SL 2007, ch 292, § 14.
S.D. Codified Laws § 58-29B-119 — SD Code / Title 58 / Chapter 29B / Section 58-29B-119
Liquidator to give written notice of denial of claim--Objections
Status: in_force

If a claim is denied in whole or in part by the liquidator, written notice of the determination shall be given to the claimant or his attorney by first class mail at the address shown in the proof of claim. Within sixty days from the mailing of the notice, the claimant may file his objections with the liquidator. If no such filing is made, the claimant may not further object to the determination.

Source: SL 1989, ch 436, § 119.
S.D. Codified Laws § 58-22-32 — SD Code / Title 58 / Chapter 22 / Section 58-22-32
Solicitation of business where prisoners confined as misdemeanor
Status: in_force

No bail bondsperson or runner may solicit business in or about any place where prisoners are confined. Violation of this section is a Class 1 misdemeanor.

Source: SL 1966, ch 111, ch 31, §§ 15 (7), 27; SDCL, § 58-22-48 ; SL 1978, ch 359, § 2; SL 1998, ch 296, § 22.
S.D. Codified Laws § 58-16-53 — SD Code / Title 58 / Chapter 16 / Section 58-16-53
Extension of benefits at discontinuance in the event of total disability
Status: in_force

Each group policy, contract, or certificate subject to the provisions of §§ 58-16-49 to 58-16-54 , inclusive, issued on or after July 1, 2009, or under which the level of benefits is altered, modified, or amended on or after July 1, 2009, shall provide a reasonable provision for extension of benefits in the event of total disability at the date of discontinuance of the group policy, contract, or certificate as required by this section.

In the case of a group life plan that contains a disability benefit extension of any type, including premium waiver extension, extended death benefit in event of total disability, or payment of income for a specified period during total disability, the discontinuance of the group policy, contract, or certificate may not operate to terminate the extension.

Any applicable extension of benefits or accrued liability shall be described in any policy or contract involved as well as in group insurance certificates. The benefits payable during any period of extension of benefits or accrued liability may be subject to the policy's, contract's, or certificate's regular benefit limits, such as benefits ceasing at exhaustion of a benefit period or of maximum benefits.

Source: SL 2009, ch 261, § 5.
S.D. Codified Laws § 58-5-53 — SD Code / Title 58 / Chapter 5 / Section 58-5-53
Stockholder or member compelling board of directors to call annual meeting
Status: in_force

If more than fifteen months elapse without an annual stockholders' or members' meeting, any stockholder or member may compel the board of directors to call such a meeting.

Source: SL 1966, ch 111, ch 16, § 18 (5).
S.D. Codified Laws § 58-35-35 — SD Code / Title 58 / Chapter 35 / Section 58-35-35
Maximum amount of insurance on single risk
Status: in_force

The maximum amount of insurance which an insurer shall retain on a single risk, after deduction of applicable reinsurance, shall not exceed ten percent of the admitted assets of the insurer or ten thousand dollars, whichever is the larger amount.

Source: SL 1966, ch 111, ch 17, § 4 (1).
S.D. Codified Laws § 58-43-16.25 — SD Code / Title 58 / Chapter 43 / Section 58-43-16.25
Internal audit function requirements
Status: in_force

The insurer or group of insurers shall establish an internal audit function providing independent, objective, and reasonable assurance to the audit committee and insurer management regarding the insurer's governance, risk management, and internal controls. This assurance shall be provided by performing general and specific audits, reviews, and tests and by employing other techniques deemed necessary to protect assets, evaluate control effectiveness and efficiency, and evaluate compliance with policies and regulations.

Source: SL 2018, ch 283, § 3.
S.D. Codified Laws § 58-5A-34 — SD Code / Title 58 / Chapter 5A / Section 58-5A-34
Adequacy of insurer's surplus--Factors considered
Status: in_force

For purposes of this chapter in determining whether an insurer's surplus to policyholders is reasonable in relation to the insurer's outstanding liabilities and adequate to its financial needs, the following factors, among others, shall be considered:

(1) The size of the insurer as measured by its assets, capital and surplus, reserves, premium writings, insurance in force, and other appropriate criteria;

(2) The extent to which the insurer's business is diversified among the several lines of insurance;

(3) The number and size of risks insured in each line of business;

(4) The extent of the geographical dispersion of the insurer's insured risks;

(5) The nature and extent of the insurer's reinsurance program;

(6) The quality, diversification, and liquidity of the insurer's investment portfolio;

(7) The recent past and projected future trend in the size of the insurer's surplus to policyholders;

(8) The surplus to policyholders maintained by other comparable insurers;

(9) The adequacy of the insurer's reserves;

(10) The quality and liquidity of investments in affiliates made pursuant to this chapter and chapters 58-26 and 58-27 . The director may treat any investment under this subdivision as a disallowed asset; and

(11) The quality of the company's earnings and the extent to which the reported earnings include extraordinary items.

Source: SL 1972, ch 267, § 28; SL 1992, ch 341, § 26; SL 1993, ch 359, § 4.
S.D. Codified Laws § 58-33A-16.4 — SD Code / Title 58 / Chapter 33A / Section 58-33A-16.4
Recommendation--Sale of annuity--Informed consumer
Status: in_force

Prior to or at the time of the recommendation or sale of an annuity, the producer shall have a reasonable basis to believe the consumer has been informed of various features of the annuity including the potential surrender period and surrender charge, potential tax penalty if the consumer sells, exchanges, surrenders, or annuitizes the annuity, mortality and expense fees, investment advisory fees, any annual fees, potential charges for and features of riders or other options of the annuity, limitations on interest returns, potential changes in non-guaranteed elements of the annuity, insurance and investment components, and market risk.

Source: SL 2022, ch 186, § 11, eff. Jan. 1, 2023.
S.D. Codified Laws § 58-40-36 — SD Code / Title 58 / Chapter 40 / Section 58-40-36
Notice to subscribers--Disclosure
Status: in_force

The nonprofit hospital service plan corporation shall provide notice to subscribers regarding the coverage required by § 58-40-34 in accordance with rules adopted by the director of the Division of Insurance pursuant to chapter 1-26 . The notice shall be in writing and prominently positioned in any literature or correspondence. The notice shall be transmitted to subscribers in the next mailing to subscribers, in the yearly informational packet sent to subscribers, or by January 1, 1997, whichever is earliest.

Source: SL 1996, ch 292, § 15.
S.D. Codified Laws § 58-35-75 — SD Code / Title 58 / Chapter 35 / Section 58-35-75
Division of farm mutual insurers--Plan
Status: in_force

Any farm mutual may divide itself into two or more farm mutuals. A written plan of division shall be prepared by the board of directors or by a committee selected by the board for that purpose. The plan of division shall set forth all the terms of the division and the proposed effect of the division on all members of the farm mutual. The plan shall also contain the articles of each new farm mutual being formed, if applicable, and any amendments to the articles of the remaining farm mutual. The applicable provisions of § 58-35-60 apply to the plan of division and to the merger or integration of the divided farm mutual into another farm mutual or farm mutuals.

Source: SL 2005, ch 277, § 1.
S.D. Codified Laws § 58-35-62 — SD Code / Title 58 / Chapter 35 / Section 58-35-62
Approval of plan of merger by majority of voters
Status: in_force

At the meeting of the policyholders, the policyholders shall vote on the proposed plan of merger. The plan of merger is approved if the majority of the policyholders present at the meeting vote for the proposed plan of merger. No policyholder may vote by proxy.

Source: SL 1995, ch 293, § 3.
S.D. Codified Laws § 58-37A-14 — SD Code / Title 58 / Chapter 37A / Section 58-37A-14
Consolidation or merger
Status: in_force

A domestic society may consolidate or merge with any other society by complying with the provisions of this section and the applicable provisions of §§ 47-1A-1101 to 47-1A-1108 , inclusive, and chapter 58-5 . It shall file with the director:

(1) A certified copy of the written contract containing in full the terms and conditions of the consolidation or merger;

(2) A sworn statement by the president and secretary or corresponding officers of each society showing the financial condition thereof on a date fixed by the director but not earlier than December thirty-first, next preceding the date of the contract;

(3) A certificate of the officers, verified by their respective oaths, that the consolidation or merger has been approved by a two-thirds vote of the supreme governing body of each society, the vote being conducted at a regular or special meeting of each body, or, if the society's laws permit, by mail; and

(4) Evidence that at least sixty days before the action of the supreme governing body of each society, the text of the contract had been furnished to all members of each society either by mail or by publication in full in the official publication of each society.

If the director finds that the contract conforms to the provisions of this section, that the financial statements are correct and that the consolidation or merger is just and equitable to the members of each society, the director shall approve the contract and issue a certificate to that effect. Upon approval, the contract shall be in effect unless any society which is a party to the contract is incorporated under the laws of any other state or territory. The consolidation or merger is not effective until it has been approved as provided by the laws of the other state or territory and a certificate of approval filed with the director of insurance of this state or, if the laws of the other state or territory contain no such provision, the consolidation or merger is not effective until it has been approved by the director of the other state or territory and a certificate of approval filed with the director of insurance of this state.

Upon the consolidation or merger becoming effective, all the rights, franchises, and interests of the consolidated or merged societies in and to every species of property, real, personal, or mixed, and things in action belonging to the consolidated or merged societies, shall be vested in the society resulting from or remaining after the consolidation or merger without any other instrument. However, conveyances of real property may be evidenced by proper deeds, and the title to any real estate or interest in real estate, vested under the laws of this state in any of the societies consolidated or merged, do not revert and are not impaired by reason of the consolidation or merger, but shall vest in the society resulting from the consolidation or merger.

The affidavit of any officer of the society or of anyone authorized by it to mail any notice or document, stating that the notice or document has been addressed and mailed, is prima facie evidence that the notice or document has been furnished to the addressees.

Source: SL 1990, ch 410, § 14; SL 2005, ch 202, § 29.
S.D. Codified Laws § 58-7-11 — SD Code / Title 58 / Chapter 7 / Section 58-7-11
Deposits of reserves of domestic insurers other than life--Holding for common benefit of all policyholders
Status: in_force

Deposits of reserves made by domestic insurers other than life shall be held for the common benefit of all the holders of its policies.

Source: SL 1966, ch 111, ch 7, § 3 (5).
S.D. Codified Laws § 58-29B-15 — SD Code / Title 58 / Chapter 29B / Section 58-29B-15
Supervision of insurer--Appointment of supervisor--Certain acts by insurer prohibited--Costs
Status: in_force

If the director makes a determination to supervise an insurer subject to an order under § 58-29B-13.1 or 58-29B-14 , he shall notify the insurer. During the period of supervision, the director may appoint a supervisor to supervise such insurer. The order appointing a supervisor shall direct the supervisor to enforce orders issued under this chapter and may also require that the insurer not do any of the following things, during the period of supervision, without the prior approval of the director or the supervisor:

(1) Dispose of, convey, or encumber any of its assets or its business in force;

(2) Withdraw from any of its bank accounts;

(3) Lend any of its funds;

(4) Invest any of its funds;

(5) Transfer any of its property;

(6) Incur any debt, obligation, or liability;

(7) Merge or consolidate with another company;

(8) Enter into any new reinsurance contract or treaty; or

(9) Write any new insurance contract or renew any insurance contract.

All costs and expenses, including attorney fees, associated with administering the supervision order are the responsibility of the insurer and shall be paid from insurer's funds or assets.

Source: SL 1989, ch 436, § 15; SL 1991, ch 404, § 1.
S.D. Codified Laws § 58-30-143 — SD Code / Title 58 / Chapter 30 / Section 58-30-143
Sale, solicitation or negotiation limited to licensed line of insurance only
Status: in_force

No person may sell, solicit, or negotiate insurance in this state for any line of insurance unless the person is licensed for that line of authority in accordance with §§ 58-30-141 to 58-30-195 , inclusive.

Source: SL 2001, ch 286, § 3.
S.D. Codified Laws § 58-3-2 — SD Code / Title 58 / Chapter 3 / Section 58-3-2
Examination of alien insurer--Limited extent
Status: in_force

Examination of an alien insurer may be limited to its insurance transactions and affairs in the United States. Examination of a reciprocal insurer may also include examination of its attorney in fact in so far as the transactions of the attorney in fact relate to the insurer.

Source: SL 1966, ch 111, ch 2, § 16 (1).
S.D. Codified Laws § 58-40-9 — SD Code / Title 58 / Chapter 40 / Section 58-40-9
Hospital service determined--Unauthorized practice of healing or practice of medicine
Status: in_force

Hospital service is meant to include the usual and customary service furnished by hospitals but nothing in this chapter shall authorize any person, association or corporation to engage, in any manner, in the practice of healing, or the practice of medicine, as defined by law.

Source: SL 1966, ch 111, ch 21, § 17.
S.D. Codified Laws § 58-33-115 — SD Code / Title 58 / Chapter 33 / Section 58-33-115
Inapplicability to joint powers agreements
Status: in_force

Nothing in §§ 58-33-93 to 58-33-116 , inclusive, applies to a joint powers agreement authorized pursuant to chapter 1-24 .

Source: SL 2007, ch 292, § 23.
S.D. Codified Laws § 58-37A-21 — SD Code / Title 58 / Chapter 37A / Section 58-37A-21
Authorized investments
Status: in_force

A society shall invest its funds only in the investments that are authorized by the laws of this state for the investment of assets of life insurers and subject to the same limitations. Any foreign or alien society permitted or seeking to do business in this state which invests its funds in accordance with the laws of the state, district, territory, country, or province in which it is incorporated, shall be held to meet the requirements of this section for the investment of funds.

Source: SL 1990, ch 410, § 21.
S.D. Codified Laws § 58-32-16 — SD Code / Title 58 / Chapter 32 / Section 58-32-16
Impossibility of procuring coverage from authorized insurers--Procurement from unauthorized insurers
Status: in_force

If certain insurance coverages cannot be procured from authorized insurers, the coverages, hereinafter designated, surplus lines, may be procured from unauthorized insurers, subject to the conditions set forth in §§ 58-32-17 to 58-32-19 , inclusive. The provisions of §§ 58-32-16 to 58-32-18 , inclusive, do not apply to exempt commercial lines policyholders as defined in §§ 58-24-68 and 58-24-69 if:

(1) The broker procuring or placing the surplus lines insurance has disclosed to the exempt commercial purchaser that the insurance may or may not be available from the admitted market that may provide greater protection with more regulatory oversight; and

(2) The exempt commercial purchaser has subsequently requested in writing the broker to procure or place the insurance from a nonadmitted insurer.

Source: SL 1966, ch 111, ch 11, § 4; SL 2011, ch 223, § 2.
S.D. Codified Laws § 58-5-75 — SD Code / Title 58 / Chapter 5 / Section 58-5-75
Brokers and market specialists exempt from insider trading restrictions
Status: in_force

The provisions of §§ 58-5-71 to 58-5-73 , inclusive, shall not apply to any purchase and sale, or sale and purchase, and the provisions of § 58-5-70 shall not apply to any sale of an equity security of a domestic stock insurance company not then or theretofore held by him in an investment account, by a dealer in the ordinary course of his business and incident to the establishment or maintenance by him of a primary or secondary market, otherwise than on an exchange as defined in the Securities Exchange Act of 1934, for such security. The director of the Division of Insurance may, by such rules and regulations as he deems necessary or appropriate in the public interest, define and prescribe terms and conditions with respect to securities held in an investment account and transactions made in the ordinary course of business and incident to the establishment or maintenance of a primary or secondary market.

Source: SL 1966, ch 111, ch 16, § 27 (4).
S.D. Codified Laws § 58-17-53 — SD Code / Title 58 / Chapter 17 / Section 58-17-53
Optometric services--Reimbursement, exceptions
Status: in_force

If an insurer provides by contract, policy, certificate, or any other means whatever, for a service, or for the partial or total reimbursement, payment, or cost of a service to or on behalf of any of its policyholders, group policyholders, subscribers, or group subscribers, or any other person or groups of persons, which service is within the lawful scope of practice of a licensed optometrist, the person rendering the service or the policyholder, subscriber, or other person is entitled to partial or total reimbursement, payment, or cost of that service, whether the service is performed by a licensed physician or by a licensed optometrist. Unless the contract, policy, certificate, or other means employed otherwise provides, there is no reimbursement of payment for ophthalmic materials, lenses, spectacles, eyeglasses, or appurtenances thereto. Reimbursement may be denied to a policyholder treating himself or any member of his family residing in his household, provided, however, that reimbursement for durable medical equipment, pharmaceuticals, and prosthetic devices may not be denied where within policy coverages.

Source: SL 1966, ch 111, ch 32, § 8; SL 1982, ch 363, § 1.
S.D. Codified Laws § 58-38-19 — SD Code / Title 58 / Chapter 38 / Section 58-38-19
Exemption from other insurance laws--Exceptions
Status: in_force

Any medical and surgical plan corporation is exempt from all provisions of the insurance laws of this state other than in this chapter. However, the corporation is subject to the provisions of this title on matters of hearings, appeals, mergers, dissolutions, licensure of insurance producers, and procedures on such matters. The corporation is also subject to §§ 58-4-39 to 58-4-42 , inclusive; 58-6-75 ; 58-17-17 , and 58-17-19 for nongroup policies only; §§ 58-17-54 ; 58-17-56 ; 58-30-124 to 58-30-139 , inclusive; and to the fees and taxation as insurers covered by this title; and to chapters 58-3 , 58-5A , 58-14 , 58-18B , 58-26 , 58-27 , 58-29B , 58-29D , 58-33 , 58-43 , and 58-44 .

Source: SL 1966, ch 111, ch 21, § 2; SL 1980, ch 361; SL 1982, ch 367, § 1; SL 1991, ch 408, § 1; SL 1991, ch 409; SL 1994, ch 386, § 2; SL 2001, ch 286, § 221.
S.D. Codified Laws § 58-15-5 — SD Code / Title 58 / Chapter 15 / Section 58-15-5
Standard provisions inapplicable to annuity contract or health or accident benefits
Status: in_force

Section 58-15-4 shall not apply to annuity contracts nor to any provision of a life insurance policy, or contract supplemental thereto, relating to health benefits or to additional benefits in the event of death by accident or accidental means.

Source: SL 1966, ch 111, ch 23, § 3 (1).
S.D. Codified Laws § 58-41-119 — SD Code / Title 58 / Chapter 41 / Section 58-41-119
Contracts to provide coverage for prostate cancer screening
Status: in_force

Every health maintenance contract that covers a male and that is delivered, issued for delivery, or renewed in this state, except for policies that provide coverage for specified disease or other limited benefit coverage, shall provide the following coverage for diagnostic screening for prostate cancer:

(1) An annual medically recognized diagnostic examination, including a digital rectal examination and a prostate - specific antigen test, as follows:

(a) For asymptomatic men aged fifty and over; and

(b) For men aged forty - five and over at high risk for prostate cancer; and

(2) For males of any age who have a prior history of prostate cancer, medically indicated diagnostic testing at intervals recommended by a physician, including the digital rectal examination, prostate - specific antigen test, and bone scan.

Source: SL 2001, ch 277, § 6.
S.D. Codified Laws § 58-19-11 — SD Code / Title 58 / Chapter 19 / Section 58-19-11
Duration of term of insurance--Extension--Renewal or refinancing
Status: in_force

The term of credit life insurance or credit health insurance shall not extend more than fifteen days beyond the scheduled maturity date of the indebtedness except when extended without additional cost to the debtor. If the indebtedness is discharged due to renewal or refinancing prior to the scheduled maturity date, the insurance in force shall be terminated before any new insurance may be issued in connection with the renewed or refinanced indebtedness. In all cases of termination prior to scheduled maturity, a refund shall be paid or credited as provided in § 58-19-15 .

Source: SL 1966, ch 111, ch 27, § 5.
S.D. Codified Laws § 58-38-44 — SD Code / Title 58 / Chapter 38 / Section 58-38-44
Contracts to provide coverage for prostate cancer screening
Status: in_force

Every service or indemnity - type contract issued by a nonprofit medical or surgical service plan corporation that covers a male and that is delivered, issued for delivery, or renewed in this state, except for policies that provide coverage for specified disease or other limited benefit coverage, shall provide the following coverage for diagnostic screening for prostate cancer:

(1) An annual medically recognized diagnostic examination, including a digital rectal examination and a prostate - specific antigen test, as follows:

(a) For asymptomatic men aged fifty and over; and

(b) For men aged forty - five and over at high risk for prostate cancer; and

(2) For males of any age who have a prior history of prostate cancer, medically indicated diagnostic testing at intervals recommended by a physician, including the digital rectal examination, prostate - specific antigen test, and bone scan.

Source: SL 2001, ch 277, § 4.
S.D. Codified Laws § 58-5-123 — SD Code / Title 58 / Chapter 5 / Section 58-5-123
Bulk reinsurance by mutual insurer--Agreement, filing with and approval by director
Status: in_force

A domestic mutual insurer may reinsure all or substantially all of its insurance in force, or a major class thereof, with another insurer, by an agreement of bulk reinsurance, provided however no such agreement shall become effective unless filed with the director of the Division of Insurance and approved by him in writing after a hearing thereon.

Source: SL 1966, ch 111, ch 16, § 41 (1).
S.D. Codified Laws § 58-39-2 — SD Code / Title 58 / Chapter 39 / Section 58-39-2
Articles of incorporation and amendments--Approval by director--Filing with secretary of state
Status: in_force

The articles of incorporation of every dental service corporation, and amendments thereto, shall be submitted to the director, whose approval thereof shall be endorsed thereon before the same are filed with the secretary of state.

Source: SL 1966, ch 111, ch 30, § 3.
S.D. Codified Laws § 58-17-20 — SD Code / Title 58 / Chapter 17 / Section 58-17-20
Omission of provision as to application of premiums accepted in connection with reinstatement--Right of insured to continue policy in force by payment of premiums
Status: in_force

The last sentence of the provision in § 58-17-19 may be omitted from any policy which the insured has the right to continue in force subject to its terms by the timely payment of premiums until at least age fifty, or, in the case of a policy issued after age forty - four, for at least five years from its date of issue.

Source: SL 1966, ch 111, ch 25, § 7.
S.D. Codified Laws § 58-33-59 — SD Code / Title 58 / Chapter 33 / Section 58-33-59
Cancellation of insurance--Definitions
Status: in_force

Terms, used in this section and §§ 58-33-60 to 58-33-65 , inclusive, mean:

(1) "Cancellation," termination by the insurer of insurance coverage in whole or in part during the policy term. A policy with no fixed expiration date is considered a policy period or term of one year;

(2) "Insurance," includes those policies of insurance defined in §§ 58-9-5 to 58-9-27 , inclusive;

(3) "Nonpayment of premium," the failure of the named insured to discharge any obligation in connection with the payment of premiums on policies of insurance subject to this section and §§ 58-33-60 to 58-33-65 , inclusive, whether such payments are directly payable to the insurer or its insurance producer or indirectly payable under a premium finance plan or extension of credit.

Source: SL 1985, ch 392, § 1; SL 1986, ch 27, § 54; SL 1999, ch 259, § 1; SL 2001, ch 286, § 206.
S.D. Codified Laws § 58-27-89 — SD Code / Title 58 / Chapter 27 / Section 58-27-89
Definition of terms
Status: in_force

Terms used in §§ 58-27-89 to 58-27-102 , inclusive, mean:

(1) "Admitted assets," assets as shown by the insurer's annual statement as of the December thirty - first next preceding date of acquisition of the investment by the insurer, or as shown by a current financial statement filed with the director, computed in the same manner as admitted assets in chapter 58-26 , and for purposes of computing any limitation based upon admitted assets, the insurer shall deduct from the amount of its admitted assets the amounts specified in subdivisions (1) to (3) of § 58-27-6 ;

(2) "Aggregate amount of medium to lower quality obligations," the aggregate statutory statement value thereof;

(3) "Lower grade obligations," obligations and preferred shares which are rated four, five, or six by the Securities Valuation Office of the National Associations of Insurance Commissioners;

(4) "Medium grade obligations," obligations and preferred shares which are rated three by the Securities Valuation Office of the National Association of Insurance Commissioners.

Source: SL 1992, ch 350, § 1; SL 1994, ch 384, § 3; SL 1997, ch 294, § 23.
S.D. Codified Laws § 58-5-39 — SD Code / Title 58 / Chapter 5 / Section 58-5-39
Bylaws of domestic mutual insurer--Adoption, modification, and revocation
Status: in_force

The initial board of directors of a domestic mutual insurer shall adopt bylaws, subject to the approval of the insurer's members at the next succeeding meeting by a two - thirds vote of those present in person or by proxy. The members shall have power by a two - thirds vote of those present in person or by proxy to make, modify, and revoke bylaws.

Source: SL 1966, ch 111, ch 16, § 16 (1).
S.D. Codified Laws § 58-6A-12 — SD Code / Title 58 / Chapter 6A / Section 58-6A-12
Compliance with voluntary dissolution or delinquency order by group not chartered if financially impaired
Status: in_force

A risk retention group not chartered in this state and doing business in this state shall comply with a lawful order issued in a voluntary dissolution proceeding or in a delinquency proceeding commenced by a state insurance director if there has been a finding of financial impairment after an examination under this chapter.

Source: SL 1987, ch 372, § 12.
S.D. Codified Laws § 58-41-15 — SD Code / Title 58 / Chapter 41 / Section 58-41-15
Health maintenance not considered practice of healing arts
Status: in_force

Any health maintenance organization authorized under this chapter shall not be deemed to be practicing a healing art.

Source: SL 1974, ch 321, § 53.
S.D. Codified Laws § 58-17E-13 — SD Code / Title 58 / Chapter 17E / Section 58-17E-13
Renewal of registration
Status: in_force

The director shall renew the registration of each holder that meets the requirements of this chapter.

Source: SL 2006, ch 257, § 12.
S.D. Codified Laws § 58-18B-41 — SD Code / Title 58 / Chapter 18B / Section 58-18B-41
Compensation of insurance producer based on percentage of premium
Status: in_force

The provisions of § 58-18B-40 do not apply with respect to a compensation arrangement that provides compensation to an insurance producer on the basis of percentage of premium, if the percentage does not vary because of the health status, claims experience, industry, occupation, or geographic area of the small employer.

Source: SL 1995, ch 281, § 36; SL 2001, ch 286, § 126.
S.D. Codified Laws § 58-38-11 — SD Code / Title 58 / Chapter 38 / Section 58-38-11
Contracts with subscribers--Required provisions
Status: in_force

The contracts by any medical and surgical plan corporation with the subscribers for medical and surgical service shall be entered into only with physicians and surgeons 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 physician or surgeon with whom such corporation has contracted for medical and surgical service and shall provide for medical and surgical service to subscribers by the physician and surgeon chosen by the patient without regard to whether said physician and surgeon has a contract with said corporation, and at the same rate as provided in the contract of the corporation for service by other than contracting physicians and surgeons in case of emergency or expediency.

Source: SL 1966, ch 111, ch 21, § 5.
S.D. Codified Laws § 58-18-87 — SD Code / Title 58 / Chapter 18 / Section 58-18-87
Director to promulgate rules governing use of genetic information
Status: in_force

The director may promulgate rules pursuant to chapter 1-26 pertaining to the use of genetic information, whether the genetic information was derived from a genetic test or from another source, as it relates to group health benefit plans.

Source: SL 2001, ch 267, § 3.
S.D. Codified Laws § 58-17-41 — SD Code / Title 58 / Chapter 17 / Section 58-17-41
Order of policy provisions
Status: in_force

The provisions which are the subject of §§ 58-17-14 to 58-17-39 , inclusive, or any corresponding provisions which are used in lieu thereof in accordance with such sections, shall be printed in the consecutive order of the provisions in such sections or, at the option of the insurer, any such provision may appear as a unit in any part of the policy, with other provisions to which it may be logically related, provided that the resulting policy shall not be in whole or in part unintelligible, uncertain, ambiguous, abstruse, or likely to mislead a person to whom the policy is offered, delivered or issued.

Source: SL 1966, ch 111, ch 25, § 24.
S.D. Codified Laws § 58-17-112 — SD Code / Title 58 / Chapter 17 / Section 58-17-112
Promulgation of rules regarding disability income policies--Content
Status: in_force

The director may promulgate rules pursuant to chapter 1-26 to protect the insurance - buying public with regard to disability income policies. However, the director shall take into account the effect any such rule may have on the availability of coverage. The rules may include:

(1) Definition of terms;

(2) Permissible exclusions;

(3) Return of premium provisions;

(4) Terms of renewability;

(5) Disclosure requirements;

(6) Benefit triggers, if such rules permit the use of activities of daily living as an acceptable benefit trigger; and

(7) Limitations, exceptions, and reductions.

Source: SL 2001, ch 276, § 5.
S.D. Codified Laws § 58-5-100 — SD Code / Title 58 / Chapter 5 / Section 58-5-100
Solicitation by domestic insurer in reciprocating state in which it has no license prohibited
Status: in_force

No domestic insurer or insurance producer thereof may knowingly solicit insurance business in any reciprocating state in which it is not then licensed as an authorized insurer.

Source: SL 1966, ch 111, ch 16, § 28 (1); SL 2001, ch 286, § 70.
S.D. Codified Laws § 58-34-43 — SD Code / Title 58 / Chapter 34 / Section 58-34-43
Aggregate liability of subscriber--Maximum in one year
Status: in_force

No one policy, or subscriber of such policy, shall be assessed or charged with an aggregate of contingent liability as to obligations incurred by a domestic reciprocal insurer in any one calendar year, in excess of the amount provided for in the power of attorney or in the subscribers' agreement, computed solely upon premium earned on such policy during that year.

Source: SL 1966, ch 111, ch 19, § 25.
S.D. Codified Laws § 58-5-93 — SD Code / Title 58 / Chapter 5 / Section 58-5-93
Location of home office and principal place of business of domestic insurers--Records maintained
Status: in_force

Every domestic insurer shall have and maintain its principal place of business and home office in this state and shall keep therein complete records of its assets, transactions, and affairs in accordance with such methods and systems as are customary or suitable as to the kinds of insurance transacted. The provisions of this section requiring that a domestic insurer maintain its principal place of business and home office in this state do not apply to the sale of a wholly owned subsidiary of a domestic insurer whose net worth does not represent more than seven percent of its parent company's assets.

Source: SL 1966, ch 111, ch 16, § 24 (1); SL 1985, ch 387.
S.D. Codified Laws § 58-6-10 — SD Code / Title 58 / Chapter 6 / Section 58-6-10
Governmentally owned insurers prohibited--Exceptions
Status: in_force

Except for instrumentalities of the United States government, no insurer, the voting control or ownership of which is held in whole or substantial part by any government or governmental agency, or which is operated for or by any such government or agency, may transact insurance in this state, unless, upon verified application by the insurer, the director finds that:

(1) The insurer is not subject to any form of subsidy that would enable it to compete unfairly with domestic insurers;

(2) The insurer is not subject to governmental practices that discriminate on the basis of race, color, creed, or national origin;

(3) The ownership or financial control does not create the presence of any sovereign immunity in the insurer;

(4) The insurer has agreed to waive sovereign immunity as a defense should it exist for any action by or against the director pursuant to the director's regulatory authority under Title 58;

(5) The insurer has agreed that it will exhaust all administrative remedies and will neither commence in, nor remove to, federal court any action by or against the director pursuant to the director's regulatory authority under Title 58;

(6) Appropriate measures and controls exist to avoid security problems resulting from an insurer's access to confidential information and data of its insured; and

(7) The ownership or financial control does not result in substantial or undue influence being asserted over the insurer.

Membership in a mutual insurer, or subscribership in a reciprocal insurer, or ownership of stock of an insurer by the alien property custodian or similar official of the United States, or supervision of an insurer by public insurance supervisory authority does not constitute ownership, control, or operation of the insurer for the purposes of this section. Nothing contained in this section prohibits or affects self insurance by school districts as provided in § 13-10-3 , or by municipalities as provided in § 9-14-30 . The failure of any applicant under this section to submit all information requested by the director pursuant to this section and the director's regulatory authority under Title 58 relevant to any finding to be made under this section is sufficient to deny the application.

Source: SL 1966, ch 111, ch 3, § 5; SL 1978, ch 49, § 5; SL 1997, ch 284, § 1.
S.D. Codified Laws § 58-41-84 — SD Code / Title 58 / Chapter 41 / Section 58-41-84
Informality in voluntary conferences
Status: in_force

Proceedings under § 58-41-83 are not governed by any formal procedural requirements, and may be conducted in such manner as the director finds appropriate under the circumstances.

Source: SL 1974, ch 321, § 46; SL 2013, ch 256, § 30.
S.D. Codified Laws § 58-6-12 — SD Code / Title 58 / Chapter 6 / Section 58-6-12
Unauthorized insurers--Application of insurer violating insurance laws for authority to transact insurance in state--Payment of back premium taxes
Status: in_force

Any insurer, not before authorized in this state, which, within three years prior to its application for authority to transact insurance in South Dakota, transacted insurance in violation of the laws of South Dakota, may not be granted authority unless it is otherwise fully qualified. In addition, it shall file with the director of the Division of Insurance a written statement, sworn to by two of its executive officers, of all premiums received by it during the three years with respect to insurance on subjects resident, located or to be performed in South Dakota, and shall pay to the director, as an additional fee for the filing of its application for a certificate of authority, an amount of money equal to the premium tax which it would have paid if it had been an authorized insurer in this state throughout that period, plus interest thereon at the Category D rate of interest as established in § 54-3-16 .

Source: SL 1966, ch 111, ch 3, § 6 (2); SL 1983, ch 28, § 66; SL 1984, ch 319, § 32.
S.D. Codified Laws § 58-26-94 — SD Code / Title 58 / Chapter 26 / Section 58-26-94
Specifications required for adoption of valuation manual
Status: in_force

The director may adopt the NAIC valuation manual of instruction if the valuation manual specifies the following:

(1) Minimum valuation standards for, and definitions of, the policies or contracts subject to § 58-26-45.1 . The minimum valuation standards are:

(a) The commissioner's reserve valuation method for life insurance contracts, other than annuity contracts, subject to § 58-26-45.1 ;

(b) The commissioners annuity reserve valuation method for annuity contracts subject to § 58-26-45.1 ; and

(c) Minimum reserves for all other policies or contracts subject to § 58-26-45.1 ;

(2) Which policies or contracts or types of policies or contracts that are subject to the requirements of a principle-based valuation in § 58-26-98 and the minimum valuation standards consistent with those requirements;

(3) For policies and contracts subject to a principle-based valuation pursuant to §§ 58-26-98 to 58-26-100 , inclusive:

(a) Requirements for the format of reports to the director pursuant to subdivision 58-26-99(3), and which shall include information necessary to determine if the valuation is appropriate and in compliance with this chapter;

(b) Assumptions are prescribed for risks over which the company does not have significant control or influence; and

(c) Procedures for corporate governance and oversight of the actuarial function, and a process for appropriate waiver or modification of such procedures;

(4) For policies not subject to a principle-based valuation pursuant to §§ 58-26-98 to 58-26-100 , inclusive, the minimum valuation standard shall:

(a) Be consistent with the minimum standard of valuation prior to the operative date of the valuation manual; or

(b) Develop reserves that quantify the benefits and guarantees, and the funding, associated with the contracts and their risks at a level of conservatism that reflects conditions that include unfavorable events that have a reasonable probability of occurring;

(5) Other requirements, including those relating to reserve methods, models for measuring risk, generation of economic scenarios, assumptions, margins, use of company experience, risk measurement, disclosure, certifications, reports, actuarial opinions and memorandums, transition rules, and internal controls; and

(6) The data and form of the data required pursuant to § 58-26-101 , with whom the data must be submitted, and may specify other requirements including data analyses and reporting of analyses.

Source: SL 2015, ch 254, § 28.
S.D. Codified Laws § 58-29F-11 — SD Code / Title 58 / Chapter 29F / Section 58-29F-11
Chapter not applicable to investigative audits
Status: in_force

The provisions of this chapter do not apply to any investigative audit that involves fraud, willful misrepresentation, or on any audit completed by the State of South Dakota on health care programs operated by the state.

Source: SL 2013, ch 254, § 11.
S.D. Codified Laws § 58-19-5.1 — SD Code / Title 58 / Chapter 19 / Section 58-19-5.1
Credit insurance not to be required for lease
Status: in_force

No lessor may require a lessee to purchase credit insurance as a term or condition of the lease.

Source: SL 1998, ch 295, § 2.
S.D. Codified Laws § 58-46-29 — SD Code / Title 58 / Chapter 46 / Section 58-46-29
Participant in sponsored captive insurance company
Status: in_force

Any entity may be a participant in any sponsored captive insurance company. A sponsor may be a participant in a sponsored captive insurance company. A participant need not be an owner of the sponsored captive insurance company or any affiliate thereof.

Except as otherwise approved by the director, a participant may insure through a sponsored captive insurance company only its own risks and the risks of its affiliates who are participants.

Source: SL 2013, ch 257, § 25.
S.D. Codified Laws § 58-33-49 — SD Code / Title 58 / Chapter 33 / Section 58-33-49
Unlawful advertising by unauthorized insurer as misdemeanor--Notice to insurance supervisory official of domiciliary state
Status: in_force

No unauthorized foreign or alien insurer of the kind described in § 58-33-47 shall make, issue, circulate, or cause to be made, issued, or circulated, to residents of this state any estimate, illustration, circular, pamphlet, or letter, or cause to be made in any newspaper, magazine, or other publication or over any radio or television station, any announcement or statement to such residents misrepresenting its financial condition or the terms of any contracts issued or to be issued or the benefits or advantages promised thereby, or the dividends or share of the surplus to be received thereon in violation of the Unfair Trade Practice Act. Violation of this section is a Class 2 misdemeanor. Whenever the director shall have reason to believe that any such insurer is engaging in such unlawful advertising, it shall be his duty to give notice of such fact by registered or certified mail to such insurer and to the insurance supervisory official of the domiciliary state of such insurer. For the purpose of this section, the domiciliary state of an alien insurer shall be deemed to be the state of entry or the state of the principal office in the United States.

Source: SL 1966, ch 111, ch 13, § 28; SL 1978, ch 359, § 2; SL 1982, ch 28, § 18.
S.D. Codified Laws § 58-37A-5 — SD Code / Title 58 / Chapter 37A / Section 58-37A-5
Benefits and purposes of society--Power to adopt laws and rules for governing the society
Status: in_force

A society shall operate for the benefit of members and their beneficiaries by providing benefits as specified in § 58-37A-16 , and operating for one or more social, intellectual, educational, charitable, benevolent, moral, fraternal, patriotic, or religious purposes for the benefit of its members, which may also be extended to others. These purposes may be carried out directly by the society, or indirectly through subsidiary corporations or affiliated organizations. These subsidiaries or affiliated organizations shall comply with all other applicable provisions of the laws and are also subject to the requirements of chapter 58-5A .

Every society may adopt laws and rules for the government of the society, the admission of its members, and the management of its affairs. It may change, alter, add to, or amend the laws and rules and has any other powers that are necessary and incidental to carrying into effect the objects and purposes of the society.

Source: SL 1990, ch 410, § 5.
S.D. Codified Laws § 58-40-10.6 — SD Code / Title 58 / Chapter 40 / Section 58-40-10.6
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 § 58-5C-3 — SD Code / Title 58 / Chapter 5C / Section 58-5C-3
Incorporation of mutual malpractice insurers--Conflict of laws
Status: in_force

All domestic corporations, organized for the purpose of transacting such insurance business under the provisions of this chapter, shall incorporate under the provisions of chapter 58-5 , and be regulated as mutual insurers; provided, the provisions of this chapter shall govern where in conflict with other laws or parts of laws.

Source: SL 1977, ch 405, § 3.
S.D. Codified Laws § 58-30-161 — SD Code / Title 58 / Chapter 30 / Section 58-30-161
Verification of nonresident's licensing status
Status: in_force

The director may verify the insurance producer's licensing status through databases maintained by the National Association of Insurance Commissioners, its affiliates, or subsidiaries.

Source: SL 2001, ch 286, § 21.
S.D. Codified Laws § 58-5-106 — SD Code / Title 58 / Chapter 5 / Section 58-5-106
Dividends on participating policies not contingent on renewal premiums
Status: in_force

After the third policy year, no dividend otherwise earned shall be made contingent upon the payment of a renewal premium on any participating policy.

Source: SL 1966, ch 111, ch 16, § 32 (2).
S.D. Codified Laws § 58-32-55 — SD Code / Title 58 / Chapter 32 / Section 58-32-55
Provisions on independently procured coverages inapplicable to life or health insurance, or annuities
Status: in_force

Sections 58-32-47 to 58-32-53 , inclusive, do not apply as to life or health insurances, or annuities.

Source: SL 1966, ch 111, ch 11, §§ 22 (8), 23 (2).
S.D. Codified Laws § 58-27-36 — SD Code / Title 58 / Chapter 27 / Section 58-27-36
Bonds or notes secured by mortgage or trust deed guaranteed by federal housing administration
Status: in_force

An insurer may invest any of its funds in bonds or notes secured by mortgage or trust deed guaranteed or insured by the federal housing administration under the terms of an act of Congress of the United States of June 27, 1934, entitled the "National Housing Act," as amended.

Source: SL 1966, ch 111, ch 6, § 24 (4).
S.D. Codified Laws § 58-24-73 — SD Code / Title 58 / Chapter 24 / Section 58-24-73
Insurer to maintain and provide copies of disclosures--Examination
Status: in_force

The insurer shall maintain copies of the disclosures required by §§ 58-24-68 to 58-24-73 , inclusive. The copies are subject to examination. The insurer shall provide the copies to the division upon request as provided by this title.

Source: SL 2004, ch 307, § 6.
S.D. Codified Laws § 58-5-132 — SD Code / Title 58 / Chapter 5 / Section 58-5-132
Participation by other states in hearing on merger or consolidation
Status: in_force

If any domestic insurer involved in the proposed merger or consolidation is authorized to transact insurance in other states, the director may request the insurance supervisory officials of such other states to participate in the hearing provided for under § 58-5-131 .

Source: SL 1966, ch 111, ch 16, § 38 (5).
S.D. Codified Laws § 58-29A-56 — SD Code / Title 58 / Chapter 29A / Section 58-29A-56
Creation of association--Membership--Exercise of powers
Status: in_force

There is created a nonprofit unincorporated legal entity to be known as the South Dakota Insurance Guaranty Association. Any insurer defined as a member insurer in subdivision 58-29A-55(9) is a member of the association as a condition of its authority to transact insurance in this state. The association shall perform its functions under a plan of operation established and approved under §§ 58-29A-83 to 58-29A-87 , inclusive, and shall exercise its powers through a board of directors established under §§ 58-29A-57 and 58-29A-58 .

Source: SL 2000, ch 247, § 3.
S.D. Codified Laws § 58-22-40 — SD Code / Title 58 / Chapter 22 / Section 58-22-40
Surety's right to enforce indemnity agreement limited by affidavit
Status: in_force

An action to enforce any indemnity agreement shall not lie in favor of the surety against such indemnitor, except with respect to agreements set forth in the affidavit required by § 58-22-39 . In an action by the indemnitor, such surety shall have the right to retain only such security or collateral as is mentioned in the affidavit required by § 58-22-39 .

Source: SL 1966, ch 111, ch 31, § 25.
S.D. Codified Laws § 58-41-9 — SD Code / Title 58 / Chapter 41 / Section 58-41-9
Marketing, charges, and financial plans required with application
Status: in_force

Each application for a certificate of authority shall include a description of the proposed method of marketing the plan, a schedule of proposed charges, and a financial plan which includes a three - year projection of the expenses and income and other sources of future capital.

Source: SL 1974, ch 321, § 6 (8).
S.D. Codified Laws § 58-17-71 — SD Code / Title 58 / Chapter 17 / Section 58-17-71
Separate classes of individual business--Reasons--Number
Status: in_force

A carrier may establish a separate class of individual business only to reflect substantial differences in expected claims experience or administrative costs related to the following reasons:

(1) The carrier used more than one type of system for the marketing and sale of health benefit plans to individuals; or

(2) The carrier has acquired a class of business from another carrier.

A carrier may establish up to three separate classes of individual business under this section.

Source: SL 1996, ch 286, § 6.
S.D. Codified Laws § 58-17A-5 — SD Code / Title 58 / Chapter 17A / Section 58-17A-5
Outline of coverage delivered at time of application for insurance
Status: in_force

To provide for full and fair disclosure in the sale of medicare supplement policies, no medicare supplement policy or certificate may be delivered or issued for delivery in this state and no certificate may be delivered pursuant to a group medicare supplement policy delivered or issued for delivery in this state unless an outline of coverage is delivered to the applicant at the time application is made. The director shall prescribe the format and content of the outline of coverage required by this section. For purposes of this section, "format" means style, arrangements, and overall appearance, including such items as size, color, and prominence of type and the arrangement of text and captions. The outline of coverage shall include:

(1) A description of the principal benefits and coverage provided in the policy;

(2) A statement of the exceptions, reductions and limitations contained in the policy;

(3) A statement of the renewal provisions, including any reservation by the issuer of a right to change premiums and disclosure of the existence of any automatic renewal premium increases based on the policyholder's age; and

(4) A statement that the outline of coverage is a summary of the policy issued or applied for and that the policy should be consulted to determine governing contractual provisions.

Source: SL 1982, ch 360, § 5; SL 1992, ch 347, § 6.
S.D. Codified Laws § 58-18B-53 — SD Code / Title 58 / Chapter 18B / Section 58-18B-53
Health insurance policies to provide coverage for biologically-based mental illnesses
Status: in_force

Every small employer health benefit plan that is delivered, issued for delivery, or renewed in this state, except for policies that provide coverage for specified disease or other limited benefit coverage, shall provide, in writing, coverage for the treatment and diagnosis of biologically - based mental illnesses with the same dollar limits, deductibles, coinsurance factors, and restrictions as for other covered illnesses.

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

Source: SL 1998, ch 291, § 3; SL 1999, ch 251, § 3.
S.D. Codified Laws § 58-32-56 — SD Code / Title 58 / Chapter 32 / Section 58-32-56
Rules and regulations--Adoption by director
Status: in_force

The director may adopt reasonable rules and regulations, consistent with this chapter, for any or all of the following purposes:

(1) Effectuation of such chapter;

(2) Establishment of procedures through which determination is to be made as to the eligibility of particular proposed coverages for export; and

(3) Establishment, procedures, and operations of any voluntary organization of brokers or others designated to assist such brokers to comply with such chapter.

Source: SL 1966, ch 111, ch 11, § 21 (1).
S.D. Codified Laws § 58-20-12 — SD Code / Title 58 / Chapter 20 / Section 58-20-12
Policy insuring against employers' liability other than workers' compensation--Required provisions--Liability of insurer--Actions for recovery
Status: in_force

Every policy written insuring against the liability of employers for personal injuries, other than payment of compensation under the provisions of the title, Workers' Compensation, shall contain provisions to the effect that the insurer shall be directly liable to the injured party, and, in the event of his death, to the party entitled to sue therefor, to pay him the amount of damages for which such insured is liable. Such injured party, or, in the event of his death, the party entitled to sue therefor, in his suit against the insured, may join the insurer as a defendant, in which case judgment shall bind either or both the insured and the insurer, or such injured party, or in the event of his death, the party entitled to sue therefor, after having obtained judgment against the insured alone, may proceed on such judgment in a separate claim against such insurer; but payment of such liability, in whole or in part, by either the insured or the insurer shall, to the extent thereof, be a bar to recovery against the other of the amount so paid. In no case shall the insurer be liable for damages beyond the face amount of the policy.

Source: SL 1966, ch 111, ch 29, § 12.
S.D. Codified Laws § 58-6-39 — SD Code / Title 58 / Chapter 6 / Section 58-6-39
Service of process through director
Status: in_force

Each insurer applying for authority to engage in the insurance business in this state shall appoint the director, and his successors in office, as its attorney to receive service of legal process issued against it in South Dakota. The appointment shall be made on a form designated and furnished by the director. The appointment shall be irrevocable, shall bind the insurer and any successor in interest to the assets or liabilities of the insurer, and shall remain in effect as long as there is in force in South Dakota any contract made by the insurer or obligations arising therefrom.

Source: SL 1966, ch 111, ch 3, § 26.
S.D. Codified Laws § 58-17F-3 — SD Code / Title 58 / Chapter 17F / Section 58-17F-3
Medical director required for managed care plans
Status: in_force

Any managed care plan shall provide for the appointment of a medical director who has an unrestricted license to practice medicine. However, a managed care plan that specializes in a specific healing art shall provide for the appointment of a director who has an unrestricted license to practice in that healing art. The director is responsible for oversight of treatment policies, protocols, quality assurance activities, and utilization management decisions of the managed care plan.

Source: SL 2011, ch 219, § 3.
S.D. Codified Laws § 58-40-33 — SD Code / Title 58 / Chapter 40 / Section 58-40-33
Minimum loss ratio for small employer health benefit plans
Status: in_force

Premium rates for individual health benefit plans shall produce a minimum lifetime loss ratio of not less than seventy - five percent. The director may promulgate rules pursuant to chapter 1-26 which modify the minimum loss ratio required based on the specific design of the product or other objective and pertinent criteria.

Source: SL 1994, ch 381, § 1.
S.D. Codified Laws § 58-33-56 — SD Code / Title 58 / Chapter 33 / Section 58-33-56
Liberal construction of process provisions
Status: in_force

The provisions of §§ 58-33-47 to 58-33-57 , inclusive, shall be liberally construed.

Source: SL 1966, ch 111, ch 13, § 26 (2).
S.D. Codified Laws § 58-2-13 — SD Code / Title 58 / Chapter 2 / Section 58-2-13
Chief clerk and employees--Appointment
Status: in_force

The Department of Labor and Regulation may appoint a chief clerk and such other employees as may be necessary, subject to the approval of the Bureau of Human Resources and Administration.

Source: SL 1966, ch 111, ch 2, § 4 (6); SL 2003, ch 272 (Ex. Ord.), § 20; SL 2011, ch 1 (Ex. Ord. 11-1), § 162, eff. Apr. 12, 2011; SL 2012, ch 23, § 101; SL 2024, ch 1 (Ex. Ord. 24-1), § 35, eff. Apr. 8, 2024.
S.D. Codified Laws § 58-29B-95 — SD Code / Title 58 / Chapter 29B / Section 58-29B-95
No liability for unearned premiums or uncollected earned premiums before declaration of insolvency--Recovery of unearned premium representing commission--Credits or setoffs--Obligations of uninsured
Status: in_force

No insurance producer, premium finance company, or any other person, responsible for the payment of a premium at the time of the declaration of insolvency, may be held liable for payment of collected or uncollected unearned premiums or for uncollected earned premiums as shown on the records of the insurer. The liquidator has the right to recover from the person any part of an unearned premium that represents commission of the person. Credits or setoffs or both may not be allowed to an insurance producer, or premium finance company for any amounts advanced to the insurer by the insurance producer or premium finance company on behalf of, but in the absence of a payment by, the insured. An insured is obligated to pay any unpaid earned premium due the insurer at the time of the declaration of insolvency, as shown on the records of the insurer.

Source: SL 1989, ch 436, § 95; SL 1990, ch 403; SL 1995, ch 288, § 2; SL 2001, ch 286, § 147.
S.D. Codified Laws § 58-9-20 — SD Code / Title 58 / Chapter 9 / Section 58-9-20
Casualty insurance including credit insurance
Status: in_force

"Casualty insurance" includes credit insurance, insurance against loss or damage resulting from failure of debtors to pay their obligations to the insured.

Source: SL 1966, ch 111, ch 4, § 6 (1) (j).
S.D. Codified Laws § 58-32-35 — SD Code / Title 58 / Chapter 32 / Section 58-32-35
Assumption of surplus line direct risk--Extent of liability
Status: in_force

Each unauthorized insurer assuming a surplus line direct risk shall be deemed thereby to have subjected itself to the terms of § 58-32-34 .

Source: SL 1966, ch 111, ch 11, § 11 (2).
S.D. Codified Laws § 58-29B-26 — SD Code / Title 58 / Chapter 29B / Section 58-29B-26
Duration of order--Hearing to extend, shorten or modify--Vacation of order
Status: in_force

The court shall specify in the order under § 58-29B-25 its duration which shall be such time as the court deems necessary for the director to ascertain the condition of the insurer. On motion of either party or on its own motion, the court may from time to time hold such hearings as it considers desirable after such notice as it deems appropriate, and may extend, shorten, or modify the terms of the seizure order. The court may vacate the seizure order if the director fails to commence rehabilitation or liquidation proceedings under this chapter after having had a reasonable opportunity to do so. An order of the court pursuant to a formal proceeding under this chapter shall vacate the seizure order.

Source: SL 1989, ch 436, § 26.
S.D. Codified Laws § 58-32-20 — SD Code / Title 58 / Chapter 32 / Section 58-32-20
Affidavit of broker as to exported insurance
Status: in_force

At the time of procuring, effecting, and issuing any such surplus line insurance, the broker shall execute an affidavit, in such form as is prescribed by the director, setting forth facts from which it can be determined whether such insurance was eligible for export under §§ 58-32-16 to 58-32-19 , inclusive. The broker shall file, or cause to be filed, this affidavit with the director within thirty days after the insurance was so procured.

Source: SL 1966, ch 111, ch 11, § 5.
S.D. Codified Laws § 58-27-39 — SD Code / Title 58 / Chapter 27 / Section 58-27-39
Evidences of debt secured by mortgage or trust deed upon leasehold estates--Eligibility for investment
Status: in_force

An insurer may invest any of its funds in evidences of debt secured by first mortgages or deeds of trust upon leasehold estates, running for a term of not less than fifteen years beyond the maturity of the loan as made or as extended, in improved real property, otherwise unencumbered, and if the mortgagee is entitled to be subrogated to all the rights under the leasehold.

Source: SL 1966, ch 111, ch 6, § 24 (6).
S.D. Codified Laws § 58-6A-6 — SD Code / Title 58 / Chapter 6A / Section 58-6A-6
Compliance with Unfair Trade Practices Act
Status: in_force

Any risk retention group, its insurance producers, and representatives shall comply with the Unfair Trade Practices Act of this state, §§ 58-33-66 to 58-33-69 , inclusive.

Source: SL 1987, ch 372, § 6; SL 2001, ch 286, § 90.
S.D. Codified Laws § 58-15-13 — SD Code / Title 58 / Chapter 15 / Section 58-15-13
Grace period in policy
Status: in_force

There shall be a provision that a grace period of thirty days, or of four weeks in the case of industrial life insurance policies the premiums for which are payable more frequently than monthly, shall be allowed within which the payment of any premium after the first may be made, during which period of grace the policy shall continue in full force; but if a claim arises under the policy during such period of grace the amount of any premium due or overdue may be deducted from the policy proceeds.

Source: SL 1966, ch 111, ch 23, § 4.
S.D. Codified Laws § 58-9-17 — SD Code / Title 58 / Chapter 9 / Section 58-9-17
Casualty insurance including glass
Status: in_force

"Casualty insurance" includes insurance against loss or damage to glass, including its lettering, ornamentation, and fittings.

Source: SL 1966, ch 111, ch 4, § 6 (1) (g).
S.D. Codified Laws § 58-9-9 — SD Code / Title 58 / Chapter 9 / Section 58-9-9
Marine and transportation insurance including transportation structures
Status: in_force

"Marine and transportation insurance" includes insurance against any kind of loss or damage to bridges, tunnels, and other instrumentalities of transportation and communication, excluding buildings, their furniture and furnishings, fixed contents and supplies held in storage, unless fire, tornado, sprinkler leakage, hail, explosion, earthquake, riot and/or civil commotion are the only hazards to be covered; piers, wharves, docks and slips, excluding the risks of fire, tornado, sprinkler leakage, hail, explosion, earthquake, riot and/or civil commotion; other aids to navigation and transportation, including dry docks and marine railways, against all risks.

Source: SL 1966, ch 111, ch 4, § 5 (1) (d).
S.D. Codified Laws § 58-3-19 — SD Code / Title 58 / Chapter 3 / Section 58-3-19
Conducting hearing--Discovery
Status: in_force

The director may not appoint an examiner to conduct the hearing in § 58-3-18 . Discovery by the company is limited to the evidence, materials, and examiner's work papers specifically relating to the company being examined and which tend to substantiate or rebut any assertions set forth in any written submission. The documents produced shall be included in the record and testimony taken shall be under oath and preserved for the record.

Nothing contained in this section requires the division to disclose any information or records which would indicate or show the existence or content of any investigation or activity of a criminal justice agency.

Source: SL 1992, ch 338, § 12.
S.D. Codified Laws § 58-33-31 — SD Code / Title 58 / Chapter 33 / Section 58-33-31
Favored insurance producer or insurer as misdemeanor
Status: in_force

No person may require as a condition precedent to loaning money upon the security of any real or personal property, or to the renewal or extension of any loan or mortgage, or to the selling of any property under contract, that the owner of the property to whom the money is to be loaned, or the vendee of the property being sold, shall place, continue, or renew any policy of insurance covering or to cover such property or covering any liability relating to such property or the use thereof, through a particular insurance producer or in a particular insurer or type of insurer or insurance producer. However, this provision does not prevent the reasonable exercise by any such the lender or vendor of the right to approve or disapprove of the insurer selected to underwrite the insurance on a reasonably nondiscriminatory basis. Any violation of this section is a Class 2 misdemeanor.

Source: SL 1966, ch 111, ch 13, § 18; SL 1978, ch 359, § 2; SL 2001, ch 286, § 204.
S.D. Codified Laws § 58-19-27 — SD Code / Title 58 / Chapter 19 / Section 58-19-27
Use of disapproved forms unlawful--Reason stated in notice--Hearing on request--Use of forms pending approval
Status: in_force

If the director notifies the insurer that the form is disapproved, it is unlawful thereafter for such insurer to issue or use such form. In such notice, the director shall specify the reason for his disapproval and state that a hearing will be granted within twenty days after request in writing by the insurer. No such policy, certificate of insurance, notice of proposed insurance, nor any application, endorsement, or rider, shall be issued or used until the expiration of thirty days after it has been so filed, unless the director shall give his prior written approval thereto.

Source: SL 1966, ch 111, ch 27, § 7 (3).
S.D. Codified Laws § 58-1-4 — SD Code / Title 58 / Chapter 1 / Section 58-1-4
Particular provisions prevail
Status: in_force

Provisions of this title relative to a particular kind of insurance or a particular type of insurer or to a particular matter shall prevail over provisions relating to insurance in general or insurers in general or to such matter in general.

Source: SL 1966, ch 111, ch 1, § 5.
S.D. Codified Laws § 58-35-32.1 — SD Code / Title 58 / Chapter 35 / Section 58-35-32.1
Liability insurance issued by state insurers--Medical and disability benefits--Snowmobiles
Status: in_force

A state mutual insurer may issue policies of insurance insuring against legal liability for the death, injury, or disability of any human being, or for damage to property, excluding liability, loss, or expense resulting from or incidental to the ownership, maintenance, or use of aircraft or motor vehicles normally operated, intended to be operated, or designed primarily for use upon highways, roads, or streets; and provision may be included in such policies for medical, hospital, surgical, and disability benefits to injured persons and funeral and death benefits to dependents, beneficiaries, or personal representatives of persons killed, irrespective of legal liability of the insured, when issued as incidental coverage with or supplemental to such liability insurance. A state mutual insurer may insure snowmobiles whether used on or off premises, but the insurance covering off premises usage shall comply with chapter 32-35 and must be offered at a limit specified in a separately written and approved endorsement or policy.

Source: SL 1970, ch 272; SL 1991, ch 406.
S.D. Codified Laws § 58-41-33 — SD Code / Title 58 / Chapter 41 / Section 58-41-33
Trade practice laws applicable
Status: in_force

Each health maintenance organization, health maintenance contract, and evidence of coverage shall be subject to chapter 58-33 , relating to the regulation of trade practices, except to the extent that the director determines that the nature of health maintenance organizations, health maintenance contracts, and evidences of coverage render such chapter clearly inappropriate.

Source: SL 1974, ch 321, § 33.
S.D. Codified Laws § 58-32-21 — SD Code / Title 58 / Chapter 32 / Section 58-32-21
Placement in authorized insurer--Violation as misdemeanor
Status: in_force

The broker shall place surplus line insurance only in an insurer which meets the requirements of §§ 58-32-22 to 58-32-24 , inclusive. Violation of this section is a Class 2 misdemeanor.

Source: SL 1966, ch 111, ch 11, § 6 (2); SL 1978, ch 359, § 2.
S.D. Codified Laws § 58-18-57 — SD Code / Title 58 / Chapter 18 / Section 58-18-57
Approval of purchasing organization by Division of Insurance
Status: in_force

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

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

(2) Insufficient membership control of the organization;

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

(4) Misuse of premiums; or

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

Source: SL 1994, ch 382, § 6.
S.D. Codified Laws § 58-5A-102 — SD Code / Title 58 / Chapter 5A / Section 58-5A-102
Premiums--Property of insurer
Status: in_force

Premiums and other funds belonging to the insurer that are collected by or held by an affiliate are the exclusive property of the insurer and are subject to the control of the insurer. Any right of offset in the event an insurer is placed into receivership is subject to chapter 58-29B .

Source: SL 2024, ch 201, § 15.
S.D. Codified Laws § 58-29B-85 — SD Code / Title 58 / Chapter 29B / Section 58-29B-85
Filing of claims under §58-29B-84
Status: in_force

A claim allowable under § 58-29B-84 by reason of avoidance, whether voluntary or involuntary, or a preference, lien, conveyance, transfer, assignment, or encumbrance, may be filed as an excused late filing under §§ 58-29B-102 to 58-29B-105 , inclusive, if filed within thirty days from the date of the avoidance, or within the further time allowed by the court under § 58-29B-84 .

Source: SL 1989, ch 436, § 85.
S.D. Codified Laws § 58-33-39 — SD Code / Title 58 / Chapter 33 / Section 58-33-39
Action to restrain violation found by director--Record of hearing received in evidence
Status: in_force

If such report charges a violation of this chapter and if such method of competition, act or practice has not been discontinued, the director may, through the attorney general of this state, at any time after the service of such report cause an action to be instituted to enjoin and restrain such person from engaging in such method, act, or practice. In such action the court may grant a restraining order or injunction upon such terms as may be just and the director shall not be required to give security before the issuance of any such order or injunction. If a stenographic record of the hearing before the director was made, a certified transcript thereof including all evidence taken and the report and findings shall be received in such action.

Source: SL 1966, ch 111, ch 13, § 5 (2).
S.D. Codified Laws § 58-2-15 — SD Code / Title 58 / Chapter 2 / Section 58-2-15
Actuarial, technical, or other professional services--Department authorized to contract for on a fee or part-time basis
Status: in_force

The Department of Labor and Regulation may contract, on a fee or a part-time basis, for such actuarial, technical, or other professional services as the division may require for the discharge of its duties.

Source: SL 1966, ch 111, ch 2, § 4 (8); 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 § 58-5A-78 — SD Code / Title 58 / Chapter 5A / Section 58-5A-78
Director's participation in supervisory college to determine insurer compliance
Status: in_force

Pursuant to the provisions of §§ 58-5A-78 to 58-5A-80 , inclusive, the director may participate in a supervisory college for any domestic insurer registered pursuant to this chapter that is part of an insurance holding company system with international operations to determine compliance by the insurer with this chapter. The director, with respect to a supervisory college, may perform any of the following activities:

(1) Initiate the establishment of a supervisory college;

(2) Clarify the membership and participation of any other supervisor in the supervisory college;

(3) Clarify the functions of the supervisory college and the role of any other regulator, including the establishment of a group-wide supervisor;

(4) Coordinate the ongoing activities of the supervisory college, including planning meetings, supervisory activities, and processes for information sharing; and

(5) Establish a crisis management plan.

Source: SL 2015, ch 246, § 19.
S.D. Codified Laws § 58-12-24 — SD Code / Title 58 / Chapter 12 / Section 58-12-24
Refusal of reimbursement due to manner, form, or date of claim prohibited--Time for submission of claim
Status: in_force

Notwithstanding any provision of a policy, plan, contract, or certificate, no insurer may refuse to reimburse the Department of Social Services for medical assistance paid by the department on the basis of the date of submission of the claim, the type or format of the claim form, or a failure to present proper documentation at the point-of-sale for which reimbursement is sought, if the claim is submitted within three years from the date the item or service was furnished and any action by the department to enforce its rights with respect to such claim is commenced within six years of the department's submission of such claim.

Source: SL 2005, ch 263, § 3; SL 2007, ch 286, § 2.
S.D. Codified Laws § 58-29B-45 — SD Code / Title 58 / Chapter 29B / Section 58-29B-45
Declaration of insurer's insolvency--Procedure
Status: in_force

At the time of the petition for an order of liquidation, or at any time thereafter, the director, after making appropriate findings of an insurer's insolvency, may petition the court for a judicial declaration of such insolvency. After providing such notice and hearing as it deems proper the court may make the declaration.

Source: SL 1989, ch 436, § 45.
S.D. Codified Laws § 58-41-35 — SD Code / Title 58 / Chapter 41 / Section 58-41-35
Contents required in evidence of coverage
Status: in_force

An evidence of coverage shall contain a clear, concise, and complete statement of:

(1) The health care services and the insurance or other benefits, if any, to which the enrollee is entitled under the health care plan;

(2) Any exclusions or limitations on the services, kind of services, benefits, or kind of benefits, to be provided, including any deductible or copayment feature;

(3) Where and in what manner information is available as to how service, including emergency and out - of - area services, may be obtained;

(4) The total amount of payment and copayment if any, for health care services and the indemnity or service benefits, if any, which the enrollee is obligated to pay with respect to individual contracts, or an indication whether the plan is contributory or noncontributory with respect to group certificates; and

(5) A description of the health maintenance organization's method for resolving enrollee complaints.

Source: SL 1974, ch 321, § 19 (2).
S.D. Codified Laws § 58-18-35 — SD Code / Title 58 / Chapter 18 / Section 58-18-35
Notice required for rate increase by group health insurance company
Status: in_force

Forty - five days before a premium rate increase is effective, the group health insurance company shall notify the policy holder in writing that the premium rate for the group health insurance will be increased.

Source: SL 1989, ch 434, § 1.
S.D. Codified Laws § 58-35-4 — SD Code / Title 58 / Chapter 35 / Section 58-35-4
County mutual insurer defined--Continuation of prior business in noncontiguous counties permitted--Exceptions
Status: in_force

An insurer authorized to insure only property located in the county of its principal office and in those counties contiguous to the county of its principal office in this state, but including personal property temporarily removed therefrom, is a "county mutual insurer." However, those county farm mutuals insuring property located in noncontiguous counties as of August 25, 1978, may continue to insure property located in those noncontiguous counties served as of August 25, 1978, upon registration prior to January 1, 1980, with the director. The director of the Division of Insurance may permit a county farm mutual which otherwise does not meet the requirements of this section to insure property located in counties which would be considered noncontiguous to its home office subsequent to August 25, 1978, if, after a hearing, he finds that the violation of this section occurs because of a merger or consolidation consummated subsequent to August 25, 1978, as a result of bona fide negotiations begun prior to August 25, 1978, provided that the hearing is held prior to January 1, 1980.

Source: SL 1966, ch 111, ch 17, § 2 (2); SL 1979, ch 341, § 22.
S.D. Codified Laws § 58-24-66 — SD Code / Title 58 / Chapter 24 / Section 58-24-66
Notice required for filing for workers' compensation insurance
Status: in_force

At least fifteen days before any rating organization makes a loss cost filing required by § 58-24-10 for workers' compensation insurance, the rating organization shall give the director of the Division of Insurance notice of its intent to make a loss cost filing.

Source: SL 1990, ch 401, § 1; SL 1993, ch 362, § 4.
S.D. Codified Laws § 58-30-210 — SD Code / Title 58 / Chapter 30 / Section 58-30-210
Limited lines travel insurance producer license authorized
Status: in_force

The director may issue to an individual or business entity that has filed with the director an application for such limited license in a form and manner prescribed by the director, a limited lines travel insurance producer license, which authorizes the limited lines travel insurance producer to sell, solicit, or negotiate travel insurance through a licensed insurer.

Source: SL 2014, ch 241, § 6.
S.D. Codified Laws § 58-17G-6 — SD Code / Title 58 / Chapter 17G / Section 58-17G-6
Division to monitor complaints regarding managed care policies
Status: in_force

The Division of Insurance shall separately monitor complaints regarding managed care policies.

Source: SL 2011, ch 219, § 26.
S.D. Codified Laws § 58-5-18 — SD Code / Title 58 / Chapter 5 / Section 58-5-18
Applications for mutual insurance--Contents
Status: in_force

All such applications shall provide that:

(1) Issuance of the policy is contingent upon the insurer qualifying for and receiving a certificate of authority;

(2) No insurance is in effect until the certificate of authority has been issued; and

(3) The prepaid premium and any deposit, membership or policy fee shall be refunded in full to the applicant if the certificate of authority is not issued within one year from the date of the certificate of incorporation.

Source: SL 1966, ch 111, ch 16, § 11 (3).
S.D. Codified Laws § 58-26-8 — SD Code / Title 58 / Chapter 26 / Section 58-26-8
Personal property acquired pursuant to chattel mortgage--Restriction as to valuation
Status: in_force

Personal property acquired pursuant to chattel mortgages made in accordance with §§ 58-27-45 to 58-27-47 , inclusive, shall not be valued at an amount greater than the unpaid balance of principal on the defaulted loan at the date of acquisition, together with taxes and expenses incurred in connection with such acquisition, or the fair value of such property, whichever amount is the lesser.

Source: SL 1966, ch 111, ch 5, § 14 (3).
S.D. Codified Laws § 58-29A-108 — SD Code / Title 58 / Chapter 29A / Section 58-29A-108
Jurisdiction over claims against association
Status: in_force

Except for actions by member insurers aggrieved by final actions or decisions of the association pursuant to subdivision 58-29A-84(7), any action relating to or arising out of this chapter against the association shall be brought in a court in this state. The courts in this state have exclusive jurisdiction over all actions relating to or arising out of this chapter against the association.

Source: SL 2000, ch 247, § 55.
S.D. Codified Laws § 58-14-34 — SD Code / Title 58 / Chapter 14 / Section 58-14-34
Handling of reinsurer
Status: in_force

If the contract permits the agent or broker to settle claims on behalf of the reinsurer, the contract shall state the claims shall be handled as follows:

(1) All claims shall be reported to the reinsurer in a timely manner;

(2) A copy of the claim file shall be sent to the reinsurer at its request or as soon as it becomes known that the claim:

(a) Involves a coverage dispute;

(b) May exceed the agent's claims settlement authority or any amount set in that authority;

(c) Is open for more than six months; or

(d) Is closed by payment of the lesser of an amount set by the company.

The director has the authority to initially and at least annually review the amount for settling claims or payment of claims and direct the amount be changed.

(3) All claim files shall be the joint property of the reinsurer and agent. However, upon an order of liquidation of the reinsurer, files shall become the sole property of the reinsurer or its estate; the agent shall have reasonable access to and the right to copy the files on a timely basis; and

(4) Any settlement authority granted to the agent may be terminated for cause upon the reinsurer's written notice to the agent or upon the termination of the contract. The reinsurer may suspend the settlement authority during the pendency of the dispute regarding the cause of termination.

Source: SL 1992, ch 345, § 11.
S.D. Codified Laws § 58-15-39 — SD Code / Title 58 / Chapter 15 / Section 58-15-39
Default in payment of premium--Computation of cash surrender value and paid-up nonforfeiture benefit
Status: in_force

Any cash surrender value and any paid - up nonforfeiture benefit, available under the policy in the event of default in a premium payment due at any time other than on the policy anniversary, shall be calculated with allowance for the lapse of time and the payment of fractional premiums beyond the last preceding policy anniversary. All values referred to in §§ 58-15-33 to 58-15-39 , inclusive, may be calculated upon the assumption that any death benefit is payable at the end of the policy year of death. The net value of any paid - up additions, other than paid - up term additions, may be not less than the amounts used to provide such additions.

Source: SL 1966, ch 111, ch 23, § 28 (6); SL 1982, ch 357, § 17.
S.D. Codified Laws § 58-30-150.1 — SD Code / Title 58 / Chapter 30 / Section 58-30-150.1
Incomplete application--Deemed withdrawn--Not a refusal or reportable administrative action
Status: in_force

An application for an insurance producer license must be deemed withdrawn if the director contacts an applicant under this chapter in writing regarding an incomplete application and the director does not receive a response from the applicant within sixty days of the date of the written communication. A withdrawn application under this section is not a refusal to issue a producer license and is not an administrative action reportable to other states.

Source: SL 2022, ch 184, § 1.
S.D. Codified Laws § 58-8-10 — SD Code / Title 58 / Chapter 8 / Section 58-8-10
Service of process on agent of unauthorized insurer other than director
Status: in_force

Service of process in any such action, suit or proceeding shall in addition to the manner provided in §§ 58-8-8 and 58-8-9 , be valid if served upon any person within this state who, in this state on behalf of such insurer, is:

(1) Soliciting insurance; or

(2) Making, issuing, or delivering any contract of insurance; or

(3) Collecting or receiving any premium, membership fee, assessment, or other consideration for insurance;

Source: SL 1966, ch 111, ch 12, § 6; SL 1982, ch 28, § 18.
S.D. Codified Laws § 58-5A-72 — SD Code / Title 58 / Chapter 5A / Section 58-5A-72
Ownership situs of voting securities
Status: in_force

For the purposes of this chapter, the situs of the ownership of the voting securities of a domestic insurer in a holding company system shall be construed to be in this state.

Source: SL 1992, ch 341, § 39.
S.D. Codified Laws § 58-18B-12 — SD Code / Title 58 / Chapter 18B / Section 58-18B-12
Ceding arrangements resulting in less than fifty percent of obligation or risk retained by carrier prohibited
Status: in_force

Unless otherwise authorized by the director, no small employer carrier may enter into one or more ceding arrangements with respect to health benefit plans delivered or issued for delivery to small employers in the state if the arrangements would result in less than fifty percent of the insurance obligation or risk for such health benefit plans being retained by the ceding carrier.

Source: SL 1995, ch 281, § 5.
S.D. Codified Laws § 58-11-23 — SD Code / Title 58 / Chapter 11 / Section 58-11-23
Execution of policy by authorized representative of insurer
Status: in_force

Every insurance policy shall be executed in the name of and on behalf of the insurer by its officer, attorney in fact, employee, or representative duly authorized by the insurer.

Source: SL 1966, ch 111, ch 22, § 20 (1).
S.D. Codified Laws § 58-18-92 — SD Code / Title 58 / Chapter 18 / Section 58-18-92
Payment of premium taxes
Status: in_force

If not otherwise provided, a multiple employer trust doing business in this state on a self-funded basis shall pay premium taxes as required in chapter 10-44 based upon the amount each participating employer contributes, including any amounts contributed by employees and dependents, to the plan on an annual basis. If a multiple employer trust purchases excess or stop loss coverage, the multiple employer trust may not be taxed additionally for that coverage.

Source: SL 2005, ch 272, § 6.
S.D. Codified Laws § 58-30-31 — SD Code / Title 58 / Chapter 30 / Section 58-30-31
Firms and corporations--Business within scope of agreement or articles of incorporation
Status: in_force

No firm or corporation shall be so licensed unless the business to be transacted thereunder is within the scope of the partnership agreement or articles of incorporation.

Source: SL 1966, ch 111, ch 9, § 10 (4).
S.D. Codified Laws § 58-34-19 — SD Code / Title 58 / Chapter 34 / Section 58-34-19
Refusal, suspension, or revocation of certificate of authority--Grounds
Status: in_force

The director may refuse, suspend, or revoke the certificate of authority, in addition to other grounds therefor, for failure of the attorney to comply with any provision of this title.

Source: SL 1966, ch 111, ch 19, § 9 (2).
S.D. Codified Laws § 58-41-25.1 — SD Code / Title 58 / Chapter 41 / Section 58-41-25.1
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 1985, ch 393, § 14.
S.D. Codified Laws § 58-15-68 — SD Code / Title 58 / Chapter 15 / Section 58-15-68
Incontestability provisions after reinstatement of life insurance policy or annuity contract
Status: in_force

A reinstated policy of life insurance or annuity contract may be contested on account of fraud or misrepresentation of facts material to the reinstatement only for the same period following reinstatement and with the same conditions and exceptions as the policy provides with respect to contestability after original issuance.

Source: SL 1966, ch 111, ch 23, § 31 (1).
S.D. Codified Laws § 58-39-17 — SD Code / Title 58 / Chapter 39 / Section 58-39-17
Citation of chapter
Status: in_force

This chapter may be cited as the Dental Service Corporation Law.

Source: SL 1966, ch 111, ch 30, § 1.
S.D. Codified Laws § 58-27-23 — SD Code / Title 58 / Chapter 27 / Section 58-27-23
Nonassessable common stock of corporation--Insurance stocks excepted
Status: in_force

An insurer may invest in nonassessable common shares, trust certificates, or other equity interests, excluding preferred shares, insurance stocks, or acquisitions subject to subdivision 58-27-17(5) or § 58-27-111 , of any solvent institution existing under the laws of the United States of America or Canada, or any state or province thereof.

Source: SL 1966, ch 111, ch 6, § 14; SL 1997, ch 294, § 8.
S.D. Codified Laws § 58-3-20 — SD Code / Title 58 / Chapter 3 / Section 58-3-20
Use of information discovered during examination for legal or regulatory action
Status: in_force

The director may use and make public any final or preliminary examination report, any examiner or company work papers or other documents, or any other information discovered or developed during the course of any examination in the furtherance of any legal or regulatory action.

Source: SL 1992, ch 338, § 13.
S.D. Codified Laws § 58-27-80 — SD Code / Title 58 / Chapter 27 / Section 58-27-80
Holding in name of clearing corporation, custodian bank or nominee--Conditions
Status: in_force

Investments may be held in the name of a clearing corporation or of a custodian bank or in the name of the nominee of either under the following conditions:

(1) The clearing corporation, custodian bank, or nominee is legally authorized to hold the particular investment for the account of others;

(2) If the investment is evidenced by a certificate and held in the name of a custodian bank or the nominee of a custodian bank, a written agreement shall provide that certificates so deposited shall at all times be kept separate and apart from other deposits with the depository so that at all times they may be identified as belonging solely to the company making the deposit; and

(3) If a clearing corporation is to act as depository, the investment may be merged or held in bulk in the clearing corporation's or its nominee's name with other investments deposited with the clearing corporation by any other person if a written agreement provides that adequate evidence of the deposit is to be obtained and retained by the company or a custodian bank.

Source: SL 1983, ch 377, § 3.
S.D. Codified Laws § 58-39-11 — SD Code / Title 58 / Chapter 39 / Section 58-39-11
Expenses of acquisition and administration--Control by director
Status: in_force

All acquisition and administrative expenses in connection with such dental service corporation shall at all times be subject to control by the director.

Source: SL 1966, ch 111, ch 30, § 9.
S.D. Codified Laws § 58-17E-37 — SD Code / Title 58 / Chapter 17E / Section 58-17E-37
Submission of advertising and marketing materials to director
Status: in_force

Upon request, a discount medical plan organization shall submit to the director any advertising, marketing material, or brochure regarding a discount medical plan.

Source: SL 2006, ch 257, § 37.
S.D. Codified Laws § 58-14-22 — SD Code / Title 58 / Chapter 14 / Section 58-14-22
Application of chapter
Status: in_force

The requirements of this chapter do not apply to a domestic insurer reinsuring companies pursuant to chapter 58-35 .

Source: SL 1992, ch 344, § 20.
S.D. Codified Laws § 58-15-25 — SD Code / Title 58 / Chapter 15 / Section 58-15-25
Participating industrial life insurance policies--Annual participation of policy in divisible surplus
Status: in_force

In participating industrial life insurance policies, in lieu of the provision required in §§ 58-15-23 and 58-15-24 , there shall be a provision that, beginning not later than the end of the fifth policy year, the policy shall participate annually in the divisible surplus, if any, in the manner set forth in the policy.

Source: SL 1966, ch 111, ch 23, § 8 (2).
S.D. Codified Laws § 58-40-10.10 — SD Code / Title 58 / Chapter 40 / Section 58-40-10.10
Exclusion of benefits for injury while under the influence of alcohol or drugs prohibited--Exception for sickness or injury caused in commission of felony
Status: in_force

A service or indemnity - type contract issued by a nonprofit hospital service plan or organization that is delivered, issued for delivery, or renewed in this state may not exclude the payment of benefits for injuries sustained by an insured person because the insured was under the influence of alcohol or drugs, as defined by § 32-23-1 .

Nothing in this section precludes a hospital or medical service plan from excluding coverage for an insured for any sickness or injury caused in the commission of a felony.

Source: SL 1997, ch 290, §§ 5, 7.
S.D. Codified Laws § 58-18-7.1 — SD Code / Title 58 / Chapter 18 / Section 58-18-7.1
Coverage for inpatient treatment of alcoholism to be offered in group policies--Treatment within state included
Status: in_force

Any insurer which delivers or issues for delivery in this state group accident and sickness insurance policies which provide coverage on an expense incurred basis shall offer, in writing, to include in such group policies or contracts issued or renewed on or after July 1, 1977, coverage for the inpatient treatment of alcoholism in licensed hospitals and residential primary treatment facilities approved by the State of South Dakota which are carrying out an approved program pursuant to diagnosis and recommendation of a doctor of medicine. However, when coverage for inpatient treatment of alcoholism is included in any group policy, such coverage shall include inpatient treatment at any South Dakota approved inpatient alcoholism treatment facility.

Source: SL 1975, ch 314, § 1; SL 1976, ch 314, § 1; SL 1977, ch 411, § 1; SL 1978, ch 362, § 1.
S.D. Codified Laws § 58-33A-19.2 — SD Code / Title 58 / Chapter 33A / Section 58-33A-19.2
Producer obligations--Documentation--Time of recommendation or sale
Status: in_force

A producer shall, at the time of the recommendation or sale:

(1) Make a written record of any recommendation and the basis for the recommendation subject to the obligations required in §§ 58-33A-13 to 58-33A-27 , inclusive;

(2) Obtain a consumer signed statement on a form substantially similar to the form prescribed by the director and available on the division’s website documenting:

(a) A customer’s refusal to provide the consumer profile information, if any;

(b) A customer’s understanding of the ramifications of not providing his or her consumer profile information or providing insufficient consumer profile information; and

(3) Obtain a consumer signed statement acknowledging the annuity transaction is not recommended if a customer decides to enter into an annuity transaction that is not based on the producer’s recommendation on a form substantially similar to a form prescribed by the director.

Source: SL 2022, ch 186, § 15, eff. Jan. 1, 2023.
S.D. Codified Laws § 58-35-37 — SD Code / Title 58 / Chapter 35 / Section 58-35-37
Cash premium or assessment plan for transacting business
Status: in_force

An insurer may transact business on either a cash premium plan or on an assessment plan as provided for in its articles of incorporation or bylaws.

Source: SL 1966, ch 111, ch 17, § 6 (1).
S.D. Codified Laws § 58-29B-63 — SD Code / Title 58 / Chapter 29B / Section 58-29B-63
Transfers of insurer's real property after petition filed--Recording of copy of petition as constructive notice
Status: in_force

After a petition for rehabilitation or liquidation has been filed a transfer of any of the real property of the insurer made to a person acting in good faith shall be valid against the receiver if made for a present fair equivalent value, or, if not made for a present fair equivalent value, then to the extent of the present consideration actually paid therefor, for which amount the transferee shall have a lien on the property so transferred. The commencement of a proceeding in rehabilitation or liquidation shall be constructive notice upon the recording of a copy of the petition for or order of rehabilitation or liquidation with the register of deeds in the county where any real property in question is located. The exercise by a court of the United States or any state or jurisdiction to authorize or effect a judicial sale of real property of the insurer within any county in any state may not be impaired by the pendency of such a proceeding unless the copy is recorded in the county prior to the consummation of the judicial sale.

Source: SL 1989, ch 436, § 63.
S.D. Codified Laws § 58-37A-11 — SD Code / Title 58 / Chapter 37A / Section 58-37A-11
Amendments to society laws--Adoption--Filing--Printing as prima facie evidence
Status: in_force

A domestic society may amend its laws in accordance with the provisions of this chapter by action of its supreme governing body at any regular or special meeting or, if its laws so provide, by referendum. A referendum may be held in accordance with the provisions of its laws by the vote of the voting members of the society, by the vote of delegates or representatives of voting members or by the vote of local lodges. A society may provide for voting by mail. No amendment submitted for adoption by referendum may be adopted unless, within six months from the date of submission, two - thirds of the members voting have signified their consent to the amendment by one of the methods specified.

No amendment to the laws of any domestic society may take effect unless approved by the director who shall approve the amendment if the director finds that it has been duly adopted and is not inconsistent with any requirement of the laws of this state or with the character, objects and purposes of the society. Unless the director disapproves the amendment within sixty days after the filing of it, the amendment shall be considered approved. The approval or disapproval of the director shall be in writing and mailed to the secretary or corresponding officer of the society at its principal office. If the director disapproves the amendment, the reasons shall be stated in the written notice.

Within ninety days from the approval by the director, each amendment, or a synopsis of the amendment, shall be furnished to all members of the society either by mail or by publication in full in the official publication of the society. The affidavit of any officer of the society or of anyone authorized by it to mail each amendment or synopsis, stating facts which show that same have been addressed and mailed, is prima facie evidence that the amendment or synopsis has been furnished to the addressee.

Every foreign or alien society authorized to do business in this state shall file with the director a certified copy of all amendments of, or additions to, its laws within thirty days after their enactment.

Printed copies of the laws as amended, certified by the secretary or corresponding officer of the society are prima facie evidence of their legal adoption.

Source: SL 1990, ch 410, § 11.
S.D. Codified Laws § 58-17-25 — SD Code / Title 58 / Chapter 17 / Section 58-17-25
Time of payment of claims--Provision required in policy
Status: in_force

There shall be a provision as follows: "Time of payment of claims: Indemnities payable under this policy for any loss other than loss for which this policy provides any periodic payment, will be paid immediately upon receipt of due written proof of such loss. Subject to due written proof of loss, all accrued indemnities for loss for which this policy provides periodic payment will be paid __________ (insert period for payment which must not be less frequently than monthly) and any balance remaining unpaid upon termination of liability will be paid immediately upon receipt of due written proof."

Source: SL 1966, ch 111, ch 25, § 11.
S.D. Codified Laws § 58-18-6 — SD Code / Title 58 / Chapter 18 / Section 58-18-6
Issuance to cover similar group subject to discretion of director
Status: in_force

Group health insurance may be under a policy issued to cover any other substantially similar group which, in the discretion of the director, may be subject to the issuance of a group health policy or contract.

Source: SL 1966, ch 111, ch 26, § 1 (5).
S.D. Codified Laws § 58-19-48 — SD Code / Title 58 / Chapter 19 / Section 58-19-48
Group property insurance to be sold and priced separately--Exceptions--Insurance not to be condition for issuance or renewal of credit card
Status: in_force

Group property insurance authorized by credit card shall be sold separately and shall be separately priced from any other insurance offered or sold at the same time unless it is included as part of an insurance offering provided to the debtor through the use of a credit card purchase of goods or services. Group property insurance authorized by credit card may not be required as a condition for the issuance or renewal of a credit card.

Source: SL 2001, ch 281, § 4.
S.D. Codified Laws § 58-41-127 — SD Code / Title 58 / Chapter 41 / Section 58-41-127
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, § 4.
S.D. Codified Laws § 58-35-21 — SD Code / Title 58 / Chapter 35 / Section 58-35-21
Bylaws--Making and approval--Modification
Status: in_force

The initial board of directors of a farm mutual insurer shall adopt such bylaws as may be deemed necessary for the management of its affairs. The bylaws shall be subject to the approval of the insurer's members at their next succeeding meeting by a two - thirds vote of those present in person or, if authorized by the bylaws, by proxy. The members shall otherwise have the power to make, modify, and revoke bylaws.

Source: SL 1966, ch 111, ch 17, § 13.
S.D. Codified Laws § 58-6A-19.5 — SD Code / Title 58 / Chapter 6A / Section 58-6A-19.5
Insurance producer or broker license required to solicit liability insurance for purchasing group from insurer or risk retention group
Status: in_force

No person, firm, association, or corporation may act or aid in any manner in soliciting, negotiating, or procuring liability insurance in this state for a purchasing group from an authorized insurer or a risk retention group chartered in a state unless the person, firm, association, or corporation is licensed as an insurance producer in accordance with Title 58.

Source: SL 1988, ch 392, § 13; SL 2001, ch 286, § 94.
S.D. Codified Laws § 58-5-36 — SD Code / Title 58 / Chapter 5 / Section 58-5-36
Lien of mutual insurer for levy of assessment for contingent liability
Status: in_force

If approved by the director of insurance as being in the best interests of the insurer and its members an assessment pursuant to § 58-5-32 after notice under that section may be secured by placing a lien upon the cash surrender value and accumulated dividends of any life insurance policy held by the insurer to the credit of such member.

Source: SL 1966, ch 111, ch 16, § 30 (5).
S.D. Codified Laws § 58-17-11.1 — SD Code / Title 58 / Chapter 17 / Section 58-17-11.1
Issuance of policies by insurance company, nonprofit hospital service plan, medical service corporation, or fraternal benefit society--Delivery receipts--Certificates of mailing--Term of retention
Status: in_force

An insurance company, nonprofit hospital service plan, medical service corporation, health maintenance organization, or fraternal benefit society shall issue policies in this state for which an examination period is required in accordance with one of the following methods:

(1) If the policy is delivered by an insurance producer, a receipt shall be signed by the policyowner acknowledging delivery of the policy. The receipt shall include the policy number and the date of the delivery;

(2) If the policy is delivered by mail, it shall be sent by registered or certified mail, return receipt requested, or a certificate of mailing shall be obtained showing the date the policy was mailed to the policyowner. For policy issuances verified by a certificate of mailing, it is presumed that the policy is received by the policyowner ten days from the date of mailing.

The receipts and the certificates of mailing described in this section shall be retained by the insurer for five years. If a producer obtains the delivery receipt, the producer shall forward the signed delivery receipt to the insurer.

Source: SL 1982, ch 28, § 18; SL 1987, ch 374, § 3; SL 2001, ch 286, § 115; SL 2002, ch 232, § 3.
S.D. Codified Laws § 58-30-146 — SD Code / Title 58 / Chapter 30 / Section 58-30-146
Arrangements for administration of examinations and collection of fee
Status: in_force

The director may make arrangements, including contracting with an outside testing service, for administering examinations and collecting the fee set forth in § 58-2-29 .

Source: SL 2001, ch 286, § 6.
S.D. Codified Laws § 58-18-17 — SD Code / Title 58 / Chapter 18 / Section 58-18-17
Blanket health insurance for sports team or sponsors
Status: in_force

Blanket health insurance may be under a policy or contract issued to a sports team or sponsors thereof which shall be deemed the policyholder, covering members, officials, and supervisors.

Source: SL 1966, ch 111, ch 26, § 4 (5).
S.D. Codified Laws § 58-41-95 — SD Code / Title 58 / Chapter 41 / Section 58-41-95
Rehabilitation, liquidation, or conservation under insurance company laws
Status: in_force

Any rehabilitation, liquidation, or conservation of a health maintenance organization shall be deemed to be the rehabilitation, liquidation, or conservation of an insurance company and shall be conducted under the supervision of the director pursuant to chapter 58-29B , except to the extent that the nature of health maintenance organizations renders such law clearly inappropriate.

Source: SL 1974, ch 321, § 40.
S.D. Codified Laws § 58-43-16.11 — SD Code / Title 58 / Chapter 43 / Section 58-43-16.11
Materially false or misleading statements or omissions to accountant prohibited
Status: in_force

No director or officer of an insurer shall, directly or indirectly:

(1) Make or cause to be made a materially false or misleading statement to an accountant in connection with any audit, review, or communication required under this chapter; or

(2) Omit to state, or cause another person to omit to state, any material fact necessary in order to make statements made, in light of the circumstances under which the statements were made, not misleading to an accountant in connection with any audit, review, or communication required under this chapter.

Source: SL 2009, ch 271, § 26.
S.D. Codified Laws § 58-5A-76 — SD Code / Title 58 / Chapter 5A / Section 58-5A-76
Application to insurer not a member of same holding company
Status: in_force

Nothing contained in this chapter authorizes or permits any transactions which, in the case of an insurer not a member of the same holding company system, would be otherwise contrary to law.

Source: SL 1992, ch 341, § 44.
S.D. Codified Laws § 58-16-33 — SD Code / Title 58 / Chapter 16 / Section 58-16-33
Misstatement of age of insured--Equitable adjustments of premiums or benefits
Status: in_force

A policy of group life insurance shall contain a provision specifying an equitable adjustment of premiums or of benefits or of both to be made in the event the age of a person insured has been misstated, such provision to contain a clear statement of the method of adjustment to be used.

Source: SL 1966, ch 111, ch 24, § 3 (5).
S.D. Codified Laws § 58-11-46 — SD Code / Title 58 / Chapter 11 / Section 58-11-46
Notice of cancellation of automobile policy--Reasons for cancellation
Status: in_force

A notice of cancellation of a policy shall be effective only if it is based on one or more of the following reasons:

(1) Nonpayment of premium;

(2) The driver's license or motor vehicle registration of the named insured or of any other operator who either resides in the same household or customarily operates an automobile insured under the policy has been under suspension or revocation during the policy period or, if the policy is a renewal, during its policy period or the one hundred eighty days immediately preceding its effective date; or

(3) For any person who is insured based upon participation in the 24/7 sobriety program and who is no longer a participant in the 24/7 sobriety program due to noncompliance with the 24/7 sobriety program.

This section shall not apply to nonrenewal.

Source: SL 1968, ch 138, § 2 (A), (D); SL 2009, ch 260, § 1.
S.D. Codified Laws § 58-18A-57 — SD Code / Title 58 / Chapter 18A / Section 58-18A-57
Plan defined--Types of coverage considered in coordination of benefits to be stated
Status: in_force

For the purposes of this chapter, the term, plan, means a form of coverage with which coordination is allowed. Separate parts of a plan for members of a group that are provided through alternative contracts that are intended to be part of a coordinated package of benefits are considered one plan and there is no COB among the separate parts of the plan.

If a plan coordinates benefits, its contract shall state the types of coverage that will be considered in applying the COB provision of that contract. Whether the contract uses the term, plan, or some other term such as program, the contractual definition may be no broader than the definition of plan in this section.

Source: SL 2006, ch 259, § 5.
S.D. Codified Laws § 58-12-27 — SD Code / Title 58 / Chapter 12 / Section 58-12-27
Department defined
Status: in_force

For the purposes of §§ 58-12-22 to 58-12-28 , inclusive, the term, department, means the Department of Social Services, or an entity under contract with the Department of Social Services to carry out the functions of §§ 58-12-22 to 58-12-28 , inclusive.

Source: SL 2005, ch 263, § 6; SL 2021, ch 210, § 7.
S.D. Codified Laws § 58-33-108 — SD Code / Title 58 / Chapter 33 / Section 58-33-108
Due diligence investigation required of preferred provider organization before contracting with offeror or provider of health benefit plan
Status: in_force

A preferred provider organization, prior to entering into any contract with a person offering or providing a health benefit plan in this state, shall carry out appropriate due diligence to establish that the health benefit plan is not unauthorized health insurance, including those measures reasonably appropriate to establish:

(1) Through initial inquiry, contract provisions, and measures to monitor and enforce compliance with the contract provisions, that for any insurance coverage that is represented as issued relating to the health benefit plan:

(a) The insurer issued the policy;

(b) The coverage is as represented;

(c) The insurer is an admitted insurer in this state; and

(d) The policy has been filed with and approved by the division or is exempt from filing requirements;

(2) For any health benefit plan that is represented as established or maintained pursuant to a collective bargaining agreement, the health benefit plan is established or maintained under or pursuant to a collective bargaining agreement under the criteria provided under 29 CFR 2510.3-40 as of January 1, 2007;

(3) For any health benefit plan that is represented as established or maintained by an employee leasing arrangement or professional employer organization, the health benefit plan is fully insured; or

(4) For any health benefit plan that is represented as established by a single employer, the health benefit plan is covering solely employees, and dependents of employees, of the employer and the employer controls and directs the work of the employee.

Source: SL 2007, ch 292, § 16.
S.D. Codified Laws § 58-47-6 — SD Code / Title 58 / Chapter 47 / Section 58-47-6
Insurance producer license not required for vendor employees or representatives under certain conditions
Status: in_force

An employee or an authorized representative of a vendor may sell or offer portable electronics insurance to a customer and is not subject to licensure as an insurance producer if:

(1) The vendor obtains a portable electronics license to authorize its employees or authorized representatives to sell or offer portable electronics insurance pursuant to this chapter;

(2) The insurer issuing the portable electronics insurance either directly supervises or appoints a supervising entity to supervise the administration of the sale of portable electronic insurance; and

(3) No employee or authorized representative of a vendor of portable electronics may advertise, represent, or otherwise hold himself or herself out as a licensed insurance producer unless so licensed.

Source: SL 2012, ch 251, § 6.
S.D. Codified Laws § 58-10-6.1 — SD Code / Title 58 / Chapter 10 / Section 58-10-6.1
Assignment of incidents of ownership under life insurance policy--Assignment before July 1, 1989, enforceable
Status: in_force

Subject to the policy terms on assignment, a person whose life is insured under a policy of life insurance may assign with his spouse's written consent any or all incidents of ownership granted him under the policy, including but not limited to any right to designate a beneficiary or to pay premiums. If a policy of life insurance has been issued in conformity with this section, no transfer of the policy or any interest thereunder shall be invalid by reason of a lack of insurable interest of the transferee in the life of the insured or the payment of premiums thereafter by the transferee. Insurance contracts which were assigned before July 1, 1989, shall be deemed enforceable under this section.

Source: SL 1989, ch 423, § 2.
S.D. Codified Laws § 58-6-53 — SD Code / Title 58 / Chapter 6 / Section 58-6-53
Rights and obligations of insurer during suspension
Status: in_force

During the suspension period the insurer shall not solicit or write any new business in this state, but shall file its annual statement, pay fees, licenses, and taxes as required under this title, and may service its business already in force in this state, as if the certificate of authority had continued in full force.

Source: SL 1966, ch 111, ch 3, § 21 (2).
S.D. Codified Laws § 58-26-81 — SD Code / Title 58 / Chapter 26 / Section 58-26-81
Determining minimum reserve when gross premium charged is less than the valuation net premium
Status: in_force

If in any contract year the gross premium charged by any company on any policy or contract is less than the valuation net premium for the policy or contract calculated by the method used in calculating the reserve thereon but using the minimum valuation standards of mortality and rate of interest, the minimum reserve required for the policy or contract is the greater of either the reserve calculated according to the mortality table, rate of interest, and method actually used for the policy or contract, or the reserve calculated by the method actually used for the policy or contract but using the minimum valuation standards of mortality and rate of interest and replacing the valuation net premium by the actual gross premium in each contract year for which the valuation net premium exceeds the actual gross premium. The minimum valuation standards of mortality and rate of interest referred to in this section and § 58-26-82 are those standards stated in §§ 58-26-56 to 58-26-63 , inclusive, and §§ 58-26-71 to 58-26-74 , inclusive.

Source: SL 1995, ch 284, § 37; SL 2015, ch 254, § 22.
S.D. Codified Laws § 58-38-10 — SD Code / Title 58 / Chapter 38 / Section 58-38-10
Rates charged for services--Approval by director
Status: in_force

The rates charged by any medical and surgical plan corporation to the subscriber for medical and surgical service shall at all times be subject to the approval of the director. The contracts by any such corporation with the subscribers for medical and surgical service shall at all times be subject to the approval of the director.

Source: SL 1966, ch 111, ch 21, § 5.
S.D. Codified Laws § 58-7-5 — SD Code / Title 58 / Chapter 7 / Section 58-7-5
Ineligibility for deposit of securities in default
Status: in_force

If default occurs in the payment of interest or principal of any deposited security and such default continues for a period of one hundred twenty days, the director may declare such security no longer eligible for deposit under § 58-7-1 .

Source: SL 1966, ch 111, ch 7, § 1 (5).
S.D. Codified Laws § 58-5A-36 — SD Code / Title 58 / Chapter 5A / Section 58-5A-36
Application for approval of extraordinary distribution--Contents
Status: in_force

Requests for approval of extraordinary dividends or any other extraordinary distribution to security holders shall include the following:

(1) The date established for payment of the dividend;

(2) A statement as to whether the dividend is to be in cash or other property and, if in property, a description thereof, its cost, and its fair market value together with an explanation of the basis for valuation;

(3) The amounts and dates of all dividends, including regular dividends, paid within the period of twelve consecutive months ending on the date fixed for payment of the proposed dividend for which approval is sought and commencing on the day after the same day of the same month in the last preceding year;

(4) A balance sheet and statement of income for the period intervening from the last annual statement filed with the director and the end of the month preceding the month in which the request for dividend approval is submitted;

(5) A brief statement as to the effect of the proposed dividend upon the insurer's surplus and the reasonableness of surplus in relation to the insurer's outstanding liabilities and the adequacy of surplus relative to the insurer's financial needs.

Source: SL 1972, ch 267, § 30.
S.D. Codified Laws § 58-44-6 — SD Code / Title 58 / Chapter 44 / Section 58-44-6
Audit committee of controlled insurer--Annual meeting
Status: in_force

Every controlled insurer shall establish an audit committee of the board of directors composed of independent directors. The audit committee shall annually meet with management, the insurer's independent certified public accountants, and an independent casualty actuary or other independent loss reserve specialist acceptable to the director to review the adequacy of the insurer's loss reserves.

Source: SL 1992, ch 358, § 6.
S.D. Codified Laws § 58-39-12 — SD Code / Title 58 / Chapter 39 / Section 58-39-12
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 30, § 10.
S.D. Codified Laws § 58-18B-8 — SD Code / Title 58 / Chapter 18B / Section 58-18B-8
Suspension of rate requirements
Status: in_force

The director may suspend all or any part of the premium rate requirements of § 58-18B-3 applicable to one or more small employers for one or more rating periods upon a filing by the small employer carrier and a finding by the director that either the suspension is reasonable in light of the financial condition of the carrier or that the suspension would enhance the efficiency and fairness of the marketplace for small employer health insurance.

Source: SL 1991, ch 402, § 8.
S.D. Codified Laws § 58-16-38.1 — SD Code / Title 58 / Chapter 16 / Section 58-16-38.1
Assignment of policy not prohibited--Rights vested in assignee
Status: in_force

Nothing in this chapter or in any other law shall be construed to prohibit a person whose life is insured under any policy of group life insurance from making an assignment of all or any part of his rights and privileges under such policy including specifically, but not by way of limitation, any right to designate a beneficiary thereunder and any right to have an individual policy issued to him in accordance with §§ 58-16-39 and 58-16-40 . Subject to the terms of any contract between the parties, such an assignment by an insured, made either before or after the effective date of this section, is valid for the purpose of vesting in the assignee, in accordance with any provisions included therein as to the time at which it is to be effective, all of such rights and privileges so assigned, but without prejudice to the insurer on account of any payment it may make or individual policy it may issue in accordance with §§ 58-16-39 and 58-16-40 prior to receipt of notice of this assignment.

Source: SL 1971, ch 272.
S.D. Codified Laws § 58-9-16 — SD Code / Title 58 / Chapter 9 / Section 58-9-16
Casualty insurance including personal property floater insurance
Status: in_force

"Casualty insurance" includes personal property floater insurance, insurance upon personal effects against loss or damage from any cause, under a personal property floater.

Source: SL 1966, ch 111, ch 4, § 6 (1) (f).
S.D. Codified Laws § 58-15-97 — SD Code / Title 58 / Chapter 15 / Section 58-15-97
Semi-annual comparison of lapsed policies, annuity contracts, and retained asset accounts against updated DMF
Status: in_force

An insurer shall compare all in-force policies, annuity contracts, and retained asset accounts and policies that lapse in its records against any updates to the DMF on at least a semi-annual basis to identify potential matches of its insureds.

Source: SL 2018, ch 280, § 4.
S.D. Codified Laws § 58-5-4 — SD Code / Title 58 / Chapter 5 / Section 58-5-4
Applicability of corporation laws
Status: in_force

The applicable laws of this state as to domestic corporations formed for profit shall apply as to both stock and mutual insurers, except where in conflict with the express provisions of this title and the reasonable implications of such provisions.

Source: SL 1966, ch 111, ch 16, § 5.
S.D. Codified Laws § 58-27-3 — SD Code / Title 58 / Chapter 27 / Section 58-27-3
Time of determination of eligibility of investment
Status: in_force

Eligibility of an investment shall be determined as of the date of its making or acquisition, except as stated in § 58-27-4 , and shall at all times be subject to the aggregate investment limitations set forth in this chapter.

Source: SL 1966, ch 111, ch 6, § 2 (3); SL 1997, ch 294, § 1.
S.D. Codified Laws § 58-34-9 — SD Code / Title 58 / Chapter 34 / Section 58-34-9
Amount and conditions of bond
Status: in_force

The bond required by § 58-34-8 shall be in the penal sum of twenty - five thousand dollars, conditioned that the attorney will faithfully account for all moneys and other property of the insurer coming into his hands, and that he will not withdraw or appropriate to his own use from the funds of the insurer, any moneys or property to which he is not entitled.

Source: SL 1966, ch 111, ch 19, § 12 (2).
S.D. Codified Laws § 58-14-40 — SD Code / Title 58 / Chapter 14 / Section 58-14-40
Adoption of rules
Status: in_force

The director may adopt rules pursuant to chapter 1-26 for the implementation and administration of the provisions of §§ 58-14-24 to 58-14-42 , inclusive.

Source: SL 1992, ch 345, § 17.
S.D. Codified Laws § 58-30-124 — SD Code / Title 58 / Chapter 30 / Section 58-30-124
Definition of terms
Status: in_force

Terms as used in §§ 58-30-124 to 58-30-139 , inclusive, mean:

(1) "Actuary," any person who is a member in good standing of the American Academy of Actuaries;

(2) "Managing general agent," any person:

(a) Who manages all or part of the insurance business of an insurer, including the management of a separate division, department, or underwriting office; and

(b) Acts as an agent for the insurer or who, with or without the authority, either separately or together with affiliates, produces, directly or indirectly, and underwrites an amount of gross written premium of five percent or more of the policyholder surplus as reported in the last annual statement of the insurer in any one quarter or year and either:

(i) Adjusts or pays claims; or

(ii) Negotiates reinsurance on behalf of the insurer;

(3) "Underwrite," the authority to accept or reject risk on behalf of the insurer.

Source: SL 1992, ch 353, § 1.
S.D. Codified Laws § 58-5A-38 — SD Code / Title 58 / Chapter 5A / Section 58-5A-38
Grounds for director's examination
Status: in_force

The director shall exercise his power under § 58-5A-37 only if the examination of the insurer under the provisions of this title is inadequate or the interests of the policyholders of such insurer may be adversely affected.

Source: SL 1972, ch 267, § 32.
S.D. Codified Laws § 58-4-47 — SD Code / Title 58 / Chapter 4 / Section 58-4-47
Sharing and use of confidential information with other regulatory officials--Cooperation with National Association of Insurance Commissioners
Status: in_force

The division shall allow for the sharing of otherwise confidential information, administrative or judicial orders, or other action with other state, federal, and international regulatory officials if those officials are statutorily required to maintain its confidentiality. The division shall cooperate and share all information with respect to domestic companies with other state, federal, and international regulators including committees established by the National Association of Insurance Commissioners which may be reviewing and coordinating regulatory oversight and activities. The division shall also cooperate and share information with respect to domestic companies subject to delinquency proceedings. The division may receive documents, materials, or information, including otherwise confidential and privileged documents, materials, or information from the National Association of Insurance Commissioners, its affiliates, or subsidiaries and from regulatory and law enforcement officials of other foreign or domestic jurisdictions. The division shall maintain as confidential or privileged any document, material, or information received with notice or the understanding that it is confidential or privileged under the laws of the jurisdiction that is the source of the document, material, or information. The director may use the documents, materials, or other information in the furtherance of any regulatory function or legal action brought as a part of the director's duties.

Source: SL 1995, ch 274; SL 2007, ch 294, § 5.
S.D. Codified Laws § 58-37A-9 — SD Code / Title 58 / Chapter 37A / Section 58-37A-9
Provisions of laws may not be waived
Status: in_force

The laws of the society may provide that no subordinate body, nor any of its subordinate officers or members may waive any of the provisions of the laws of the society. This provision is binding on the society and every member and beneficiary of a member.

Source: SL 1990, ch 410, § 9.
S.D. Codified Laws § 58-5-127 — SD Code / Title 58 / Chapter 5 / Section 58-5-127
Compensation for promoting bulk reinsurance by mutual insurer
Status: in_force

No director, officer, insurance producer, or employee of any insurer party to such reinsurance, nor any other person, may receive any fee, commission, or other valuable consideration whatsoever for in any manner aiding, promoting, or assisting therein except as set forth in the reinsurance agreement.

Source: SL 1966, ch 111, ch 16, § 41 (5); SL 2001, ch 286, § 72.
S.D. Codified Laws § 58-29F-1 — SD Code / Title 58 / Chapter 29F / Section 58-29F-1
Pharmacy audit integrity program established
Status: in_force

The pharmacy audit integrity program is hereby established to provide standards for an audit of pharmacy records carried out by a pharmacy benefits manager or any entity that represents the pharmacy benefits manager.

Source: SL 2013, ch 254, § 1.
S.D. Codified Laws § 58-37A-17 — SD Code / Title 58 / Chapter 37A / Section 58-37A-17
Beneficiary designations--Funeral benefits
Status: in_force

The owner of a benefit contract may change the beneficiaries in accordance with the laws or rules of the society unless the owner waives this right by specifically requesting in writing that the beneficiary designation be irrevocable. A society may, through its laws or rules, limit the scope of beneficiary designations and shall provide that no revocable beneficiary may obtain any vested interest in the proceeds of any certificate until the certificate has become due and payable in conformity with the provisions of the benefit contract. A society shall honor the request of the owner of a benefit contract to assign the contract to, or designate an irrevocable beneficiary of, a trust which provides for the payment of funeral or burial related expenses and is established by the insured, the insurer, or owner of the benefit contract, unless the request does not conform to the laws or rules of the society. In no event may the certificate proceeds paid to such a trust exceed the actual funeral or burial related expenses incurred.

A society may provide for the payment of funeral benefits to the extent of the portion of any payment under a certificate as might reasonably appear to be due to any person equitably entitled to it by reason of having incurred expense occasioned by the burial of the member. A society shall honor the request of the owner of a benefit contract to collaterally assign the contract to, or make an irrevocable beneficiary designation of, a funeral home solely for the payment of funeral or burial related expenses, unless the request does not conform to the laws or rules of the society.

If, at the death of any person insured under a benefit contract, there is no lawful beneficiary to whom the proceeds are payable, the amount of the benefit, except to the extent that funeral benefits may be paid as provided in this chapter, is payable to the estate of the deceased insured the same as other property not exempt. However, if the owner of the certificate is other than the insured, the proceeds are payable to the owner.

Source: SL 1990, ch 410, § 17; SL 2005, ch 278, § 1; SL 2010, ch 245, § 1.
S.D. Codified Laws § 58-29D-29 — SD Code / Title 58 / Chapter 29D / Section 58-29D-29
Waiver of application requirements
Status: in_force

Upon request from an administrator, the director may waive the application requirements of § 58-29D-22 if the administrator has a valid license as an administrator issued in a state which has standards for administrators that are at least as stringent as those contained in this chapter. If waived, the administrator shall register with the director in this state. The waiver shall automatically lapse if the third party administrator granted a waiver is no longer licensed in the state for which the waiver was granted. Any waiver given by this section does not extend to any suspension or revocation of licensure or registration pursuant to § 58-29D-31 .

Source: SL 1992, ch 352, § 29; SL 2001, ch 285, § 4.
S.D. Codified Laws § 58-16-23 — SD Code / Title 58 / Chapter 16 / Section 58-16-23
Issuance of group life policy to creditor--Purpose
Status: in_force

A policy of group life insurance may be issued to a creditor, who shall be deemed the policyholder, to insure debtors of the creditor, subject to the requirements of §§ 58-16-24 to 58-16-29 , inclusive.

Source: SL 1966, ch 111, ch 24, § 1 (2).
S.D. Codified Laws § 58-24-44 — SD Code / Title 58 / Chapter 24 / Section 58-24-44
Examination of evidences of insurance or cancellation--Rules as to submission--Information confidential
Status: in_force

Any rating organization may provide for the examination of policies, daily reports, binders, renewal certificates, endorsements, or other evidences of insurance, or the cancellation thereof, and may make reasonable rules governing their submission. Rules shall contain a provision that if any insurer does not furnish satisfactory evidence to the rating organization of the correction of any error or omission previously called to its attention by the rating organization within sixty days, the rating organization shall notify the director thereof. All information submitted for examination under this section is confidential.

Source: SL 1966, ch 111, ch 15, § 6 (5); SL 2014, ch 239, § 10.
S.D. Codified Laws § 58-20-19 — SD Code / Title 58 / Chapter 20 / Section 58-20-19
Inadequacy of liability or compensation loss reserves--Maintenance of additional reserves required by director
Status: in_force

Whenever, in the judgment of the director, the liability or compensation loss reserves of any insurer under his supervision, calculated in accordance with the provisions of §§ 58-20-16 to 58-20-18 , inclusive, are inadequate, he may require such insurer to maintain additional reserves based upon estimated individual claims or otherwise.

Source: SL 1966, ch 111, ch 29, § 3.
S.D. Codified Laws § 58-48-8 — SD Code / Title 58 / Chapter 48 / Section 58-48-8
Conditions on innovation waiver
Status: in_force

An insurance innovation waiver shall be issued by the director in writing that limits the number of consumers in this state that may purchase or utilize the underlying insurance product or service to no more than twenty thousand consumers and specifies any terms, conditions, and limitations that the director considers appropriate, including:

(1) Limits on the amount of premium that may be written in relation to the innovative product or service;

(2) Liability coverage requirements and minimum financial reserve requirements that the applicant must meet during the testing of the innovative insurance product or service; and

(3) Regular or additional reporting on any aspect of the innovative insurance product or service during the test, including financial results and consumer information.

Conditions issued under this section do not restrict a person who holds a license or authorization in another jurisdiction from acting in accordance with that license or authorization in that jurisdiction.

Source: SL 2021, ch 214, § 8.
S.D. Codified Laws § 58-35-44 — SD Code / Title 58 / Chapter 35 / Section 58-35-44
Reinsurance
Status: in_force

A farm mutual insurer may cede reinsurance to any other farm mutual insurer authorized to insure the risks ceded and to other authorized property insurers or reinsurers, and may accept reinsurance from other farm mutual insurers. A farm mutual insurer may also reinsure with a reinsurer authorized pursuant to chapter 58-14 .

Source: SL 1966, ch 111, ch 17, § 5; SL 1993, ch 371.
S.D. Codified Laws § 58-17H-21 — SD Code / Title 58 / Chapter 17H / Section 58-17H-21
Data systems to support program activities and generate management reports
Status: in_force

Any health carrier's data system shall be sufficient to support utilization review program activities and to generate management reports to enable the health carrier to monitor and manage health care services effectively.

Source: SL 2011, ch 219, § 46.
S.D. Codified Laws § 58-29B-116 — SD Code / Title 58 / Chapter 29B / Section 58-29B-116
Third party claim against insured of insurer in liquidation filed with liquidator--Insured's filing--Late filing
Status: in_force

If any third party asserts a cause of action against an insured of an insurer in liquidation, the third party may file a claim with the liquidator. Whether or not the third party files a claim, the insured may file a claim on his own behalf in the liquidation. If the insured fails to file a claim by the date for filing claims specified in the order of liquidation or within sixty days after mailing of the notice required by §§ 58-29B-51 and 58-29B-52 , whichever is later, he is an unexcused late filer.

Source: SL 1989, ch 436, § 116.
S.D. Codified Laws § 58-30-168 — SD Code / Title 58 / Chapter 30 / Section 58-30-168
Written reasons for denial or nonrenewal required--Request for hearing--Notice of hearing
Status: in_force

If the director denies an application for a license or does not renew a license, the director shall notify the applicant or licensee and advise, in writing, the applicant or licensee of the reason for the denial or nonrenewal of the applicant's or licensee's license. The applicant or licensee may make a written request to the director within thirty days of the date of the nonrenewal or denial for a hearing to determine the reasonableness of the director's action. A notice of hearing shall be issued within thirty days of receipt of a written request. A hearing shall be held pursuant to chapter 1-26 . This section does not apply to emergency suspensions pursuant to § 1-26-29 or cease and desist orders in § 58-4-7 .

Source: SL 2001, ch 286, § 28.
S.D. Codified Laws § 58-14-39 — SD Code / Title 58 / Chapter 14 / Section 58-14-39
Rights of third party
Status: in_force

Nothing contained in §§ 58-14-24 to 58-14-42 , inclusive, limits or restricts the rights of policyholders, claimants, creditors, or other third parties or confer any rights to those persons.

Source: SL 1992, ch 345, § 16.
S.D. Codified Laws § 58-19-4 — SD Code / Title 58 / Chapter 19 / Section 58-19-4
Forms of credit life insurance and credit health insurance
Status: in_force

Credit life insurance and credit health insurance shall be issued only in the following forms:

(1) Individual policies of life insurance issued to debtors on the term plan;

(2) Individual policies of health insurance issued to debtors on a term plan or disability benefit provisions in individual policies of credit life insurance;

(3) Group policies of life insurance issued to creditors providing insurance upon the lives of debtors on the term plan;

(4) Group policies of health insurance issued to creditors on a term plan insuring debtors or disability benefit provisions in group credit life insurance policies to provide such coverage.

Source: SL 1966, ch 111, ch 27, § 3.
S.D. Codified Laws § 58-12-10 — SD Code / Title 58 / Chapter 12 / Section 58-12-10
Benefits, rights, privileges, or options nontransferable under annuity contract--Not subject to commutation--Exemption from execution
Status: in_force

If an annuity contract so provides, the benefits, rights, privileges, or options accruing under such contract to a beneficiary or assignee shall not be transferable nor subject to commutation, and if the benefits are payable periodically or at stated times, the same exemptions and exceptions contained in §§ 58-12-6 to 58-12-9 , inclusive, for the annuitant, shall apply with respect to such beneficiary or assignee.

Source: SL 1966, ch 111, ch 22, § 32 (2).
S.D. Codified Laws § 58-5A-41.1 — SD Code / Title 58 / Chapter 5A / Section 58-5A-41.1
Testimony in private civil action concerning confidential information prohibited
Status: in_force

Neither the director nor any person who receives documents, materials, or other information while acting under the authority of the director or with whom the documents, materials, or other information are shared pursuant to the provisions of § 58-5A-41 is permitted or required to testify in any private civil action concerning any confidential documents, materials, or information subject to the provisions of § 58-5A-41 .

Source: SL 2015, ch 246, § 15.
S.D. Codified Laws § 58-41-40 — SD Code / Title 58 / Chapter 41 / Section 58-41-40
Evidence of coverage deemed deceptive
Status: in_force

For the purposes of this chapter, an evidence of coverage shall be deemed to be deceptive if the evidence of coverage taken as a whole, and with consideration given to typography and format, as well as language, shall be such as to cause a reasonable person, not possessing special knowledge regarding health care plans and evidences of coverage therefor, to expect benefits, services, charges, or other advantages which the evidence of coverage does not regularly make available for enrollees covered under such evidence of coverage.

Source: SL 1974, ch 321, § 32 (1) (c).
S.D. Codified Laws § 58-29B-62 — SD Code / Title 58 / Chapter 29B / Section 58-29B-62
Fraudulent transfers between insurer and reinsurer--Grounds for avoidance by receiver
Status: in_force

Any transaction of the insurer with a reinsurer shall be deemed fraudulent and may be avoided by the receiver under § 58-29B-61 if:

(1) The transaction consists of the termination, adjustment, or settlement of a reinsurance contract in which the reinsurer is released from any part of its duty to pay the originally specified share of losses that had occurred prior to the time of the transaction, unless the reinsurer gives a present fair equivalent value for the release; and

(2) Any part of the transaction took place within one year prior to the date of filing of the petition through which the receivership was commenced.

Source: SL 1989, ch 436, § 62.
S.D. Codified Laws § 58-30-111 — SD Code / Title 58 / Chapter 30 / Section 58-30-111
Waiting period for new license after revocation
Status: in_force

The director may not again issue a license under this title to any person whose license has been revoked, until after expiration of one year from the date of such revocation or if judicial review of such revocation is sought, then within one year from the date of final court order or decree affirming the revocation. If the former licensee again files application for a license under this title, the director may require the applicant to show good cause why the prior revocation should not be a bar to the issuance of a new license.

Source: SL 1966, ch 111, ch 9, § 34 (4); SL 2002, ch 240, § 4.
S.D. Codified Laws § 58-5-120 — SD Code / Title 58 / Chapter 5 / Section 58-5-120
Bulk reinsurance by domestic stock insurer--Agreement, filing with and approval by director
Status: in_force

A domestic stock insurer may reinsure all or substantially all of its insurance in force, or of a major class thereof, with another insurer by an agreement of bulk reinsurance; provided however no such agreement shall become effective unless filed with the director of the Division of Insurance and approved by him in writing after a hearing thereon.

Source: SL 1966, ch 111, ch 16, § 40 (1).
S.D. Codified Laws § 58-11A-4 — SD Code / Title 58 / Chapter 11A / Section 58-11A-4
Alternate reading ease tests
Status: in_force

Other reading tests may be approved by the director of the Division of Insurance for use as an alternative to the Flesch Reading Ease Tests if it is comparable in result to the Flesch Reading Ease Test.

Source: SL 1981, ch 360, § 4.
S.D. Codified Laws § 58-29B-147 — SD Code / Title 58 / Chapter 29B / Section 58-29B-147
Domiciliary receiver, conservator, or liquidator appointed for alien insurer--Appointment as ancillary receiver
Status: in_force

If a domiciliary receiver, conservator, or liquidator has been appointed for an insurer not domiciled in this state, the director may file a petition with the circuit court of Hughes County requesting appointment as ancillary receiver in this state:

(1) If the director finds that there are sufficient assets of the insurer located in this state to justify the appointment of an ancillary receiver; or

(2) If the protection of creditors or policyholders in this state so requires.

Source: SL 1989, ch 436, § 147; SL 2008, ch 271, § 4.
S.D. Codified Laws § 58-17H-3 — SD Code / Title 58 / Chapter 17H / Section 58-17H-3
Urgent care request defined
Status: in_force

For the purposes of this chapter, the term, urgent care request means a request for a health care service or course of treatment with respect to which the time periods for making a nonurgent care request determination:

(1) Could seriously jeopardize the life or health of the covered person or the ability of the covered person to regain maximum function; or

(2) In the opinion of a physician with knowledge of the covered person's medical condition, would subject the covered person to severe pain that cannot be adequately managed without the health care service or treatment that is the subject of the request.

Except as provided in subdivision (1) of this section, in determining whether a request is to be treated as an urgent care request, an individual acting on behalf of the health carrier shall apply the judgment of a prudent layperson who possesses an average knowledge of health and medicine. Any request that a physician with knowledge of the covered person's medical condition determines is an urgent care request within the meaning of subdivisions (1) and (2) of this section shall be treated as an urgent care request.

Source: SL 2011, ch 219, § 92.
S.D. Codified Laws § 58-15-19 — SD Code / Title 58 / Chapter 15 / Section 58-15-19
Delinquent interest on policy loan exceeding amount of loan value--Termination of policy, notice
Status: in_force

The policy may also provide that if interest on any indebtedness is not paid when due it shall then be added to the existing indebtedness and shall bear interest at the same rate, and that if and when the total indebtedness on the policy, including interest due or accrued, equals or exceeds the amount of the loan value thereof, then the policy shall terminate and become void but not until at least thirty days' notice shall have been mailed by the insurer to the last known address of the insured or policy owners and of any assignee of record at the home office of the insurer.

Source: SL 1966, ch 111, ch 23, § 9.
S.D. Codified Laws § 58-29B-13.1 — SD Code / Title 58 / Chapter 29B / Section 58-29B-13.1
Service of appropriate orders by director
Status: in_force

If the director has reasonable cause to believe, and determines, after a hearing held pursuant to the provisions of § 58-29B-17 , that any domestic insurer has committed or engaged in, or is about to commit or engage in, any act, practice, or transaction that would subject it to delinquency proceedings under this chapter, he may make and serve upon the insurer and any other persons involved, such orders as are reasonably necessary to correct, eliminate, or remedy such conduct, condition, or ground.

Source: SL 1989, ch 436, § 13A.
S.D. Codified Laws § 58-46-18 — SD Code / Title 58 / Chapter 46 / Section 58-46-18
Suspension or revocation of certificate of authority by director
Status: in_force

The certificate of authority of a captive insurance company to do insurance business in this state may be suspended or revoked by the director for any of the following reasons:

(1) Insolvency or impairment of capital or surplus;

(2) Failure to meet the requirements of § 58-46-8 ;

(3) Refusal or failure to submit an annual report, as required by § 58-46-15 , or any other report or statement required by law or by lawful order of the director;

(4) Failure to comply with the provisions of its own organizational documents or bylaws;

(5) Failure to submit to examination or any legal obligation relative thereto, as required by § 58-46-17 ;

(6) Use of methods that, although not otherwise specifically prohibited by law, nevertheless render its operation detrimental or its condition unsound with respect to the public or to its policyholders;

(7) Failure otherwise to comply with the laws of this state.

If the director finds, upon examination, hearing, or other evidence, that any captive insurance company has violated any of these provisions, its certificate of authority may be suspended or revoked if it is deemed to be in the best interest of the public and the policyholders of such captive insurance company, notwithstanding any other provisions of this chapter.

Source: SL 1996, ch 287, § 18; SL 2013, ch 257, § 15.
S.D. Codified Laws § 58-9-27 — SD Code / Title 58 / Chapter 9 / Section 58-9-27
Casualty insurance including other unclassified insurance
Status: in_force

"Casualty insurance" includes insurance against any other kind of loss, damage, or liability properly a subject of insurance and not within any other kind of insurance as defined in this chapter, if such insurance is not disapproved by the director of insurance as being contrary to law or public policy.

Source: SL 1966, ch 111, ch 4, § 6 (1) (q).
S.D. Codified Laws § 58-18-90 — SD Code / Title 58 / Chapter 18 / Section 58-18-90
Multiple employer trust not insurance company or association or subject to specified provisions--Exception
Status: in_force

Except as otherwise provided in this chapter, an authorized multiple employer trust may not be determined to be or considered to be an insurance company or association of any kind or character under this title, or subject to the provisions of §§ 58-8-6 to 58-8-19 , inclusive.

Source: SL 2005, ch 272, § 4; SL 2019, ch 212, § 8.
S.D. Codified Laws § 58-17E-46 — SD Code / Title 58 / Chapter 17E / Section 58-17E-46
Notice to director of change in plan
Status: in_force

Each discount medical plan organization shall provide the director at least thirty days advance notice of any change in the discount medical plan organization's name, principal business address, mailing address, or internet website address.

Source: SL 2006, ch 257, § 43.
S.D. Codified Laws § 58-3-14 — SD Code / Title 58 / Chapter 3 / Section 58-3-14
Withholding of report from public inspection
Status: in_force

Upon the adoption of the examination report under subdivision 58-3-12(1), the director shall continue to hold the content of the examination report as confidential information for a period of thirty days except to the extent provided in §§ 58-3-20 , 58-3-21 , and 58-3-22 . Thereafter, the director may open the report for public inspection so long as no court of competent jurisdiction has stayed its publication.

Source: SL 1966, ch 111, ch 2, § 20 (5); SL 1992, ch 338, § 21.
S.D. Codified Laws § 58-5-102 — SD Code / Title 58 / Chapter 5 / Section 58-5-102
Insurance in reciprocating state under contracts issued in state in which licensed not prohibited--Policies issued as an unauthorized insurer permitted under laws of reciprocating state not prohibited
Status: in_force

Section 58-5-100 shall not prohibit insurance covering persons or risks located in a reciprocating state under contracts solicited and issued in states in which the insurer is then licensed, nor shall it prohibit insurance policies issued by the insurer as an unauthorized insurer if permitted in accordance with the laws of the reciprocating state.

Source: SL 1966, ch 111, ch 16, § 28 (3).
S.D. Codified Laws § 58-29B-79 — SD Code / Title 58 / Chapter 29B / Section 58-29B-79
Summary jurisdiction of Hughes county circuit court--Notice--Valuation of certain property or liens--Election of transferee or lienholder
Status: in_force

The circuit court of Hughes County shall have summary jurisdiction of any proceeding by the liquidator to hear and determine the rights of any parties under §§ 58-29B-71 to 58-29B-88 , inclusive. Reasonable notice of any hearing in the proceeding shall be given to all parties in interest, including the obligee of a releasing bond or other like obligation. If an order is entered for the recovery of indemnifying property in kind or for the avoidance of an indemnifying lien, the court, upon application of any party in interest, shall in the same proceeding ascertain the value of the property or lien, and if the value is less than the amount for which the property is indemnified or than the amount of the lien, the transferee or lienholder may elect to retain the property or lien upon payment of its value, as ascertained by the court, to the liquidator, within such reasonable times as the court shall fix.

Source: SL 1989, ch 436, § 79.
S.D. Codified Laws § 58-41-26 — SD Code / Title 58 / Chapter 41 / Section 58-41-26
Exemption from insurance laws--Exceptions--Taxation
Status: in_force

Any health maintenance organization is exempt from all provisions of the insurance laws of this state other than this chapter. However, the corporation is subject to the provisions of this title on matters and procedures of mergers and licensure of insurance producers. The corporation is also subject to fees and taxation as insurers under § 58-2-29 and chapter 10-44 . The corporation is also subject to §§ 58-17-53 and 58-17-54 if entering into a contract after July 1, 1990, with the State of South Dakota, counties, school districts, municipalities, and any other unit of state government using public funds. The state, however, may not collect premium taxes for insurance written on individuals residing outside this state or property located outside this state if no comparable tax is paid by the direct writing health maintenance organization to any appropriate taxing authority. Health maintenance organizations are also subject to the following chapters: 58-1 , 58-2 , 58-3 , 58-4, 58-5 , 58-5 A, 58-6 , 58-7 , 58-1 1, 58-1 2, 58-1 4, 58-1 7, 58-1 7A, 58-1 7F, 58-1 7G, 58-1 7H, 58-1 7I, 58-1 8, 58-1 8A, 58-1 8B, 58-1 8C, 58-2 6, 58-2 7, 58-2 9B on the same basis as insurers, 58-3 0, 58-3 3A; and 58-43 . Nothing in chapters 58-5 or 58-6 may be construed to prohibit a nonprofit health maintenance organization from transacting business under this title based upon its nonprofit status.

To the extent that a health maintenance organization is compliant with the provisions of chapters 58-17F to 58-17I , inclusive, for purposes of network adequacy, quality assessment and improvements, utilization review and benefit determinations, and grievance procedure, the health maintenance organization is compliant with the provisions of this chapter.

Source: SL 1974, ch 321, § 51; SL 1985, ch 393, § 8; SL 1990, ch 411; SL 2001, ch 286, § 226; SL 2007, ch 293, § 1; SL 2013, ch 256, § 10; SL 2020, ch 210, § 13.
S.D. Codified Laws § 58-18-7.21 — SD Code / Title 58 / Chapter 18 / Section 58-18-7.21
Continued coverage--Insurer's use of experience for rating purposes not limited--Options unavailable in market not required
Status: in_force

Nothing in § 58-18-7.18 or 58-18C-5 may be construed to limit an insurer's ability to use the experience from those persons who have continued coverage pursuant to § 58-18-7.18 or 58-18C-5 for rating purposes for the employer group from which coverage was continued. An insurer is not required to offer an option that is not available in the market for the policy form or forms from which continuation is being offered. This section and §§ 58-18-7.18 and 58-18C-5 apply to any person electing continuation coverage on or after July 1, 2008.

Source: SL 2008, ch 266, § 3.
S.D. Codified Laws § 58-26-53 — SD Code / Title 58 / Chapter 26 / Section 58-26-53
Liability of qualified actuary
Status: in_force

Except in cases of fraud or willful misconduct, the qualified actuary is not liable for damages to any person, other than the insurance company and the director, for any act, error, omission, decision, or conduct with respect to the actuary's opinion.

Source: SL 1995, ch 284, § 9.
S.D. Codified Laws § 58-24-59 — SD Code / Title 58 / Chapter 24 / Section 58-24-59
Examination of rating organizations, advisory organizations, joint underwriters, and joint reinsurers--Acceptance of report of official of another state
Status: in_force

As often as the director deems necessary, the director shall examine each rating organization licensed in this state as provided in §§ 58-24-35 to 58-24-39 , inclusive, each advisory organization referred to in § 58-24-53 , and each group, association, or other organization referred to in § 58-24-57 . The cost of any examination shall be paid by the rating organization, advisory organization, or group, association or other organization examined. The officers, manager, agents, and employees of the rating organization, advisory organization, or group, association, or other organization may be examined at any time under oath and shall exhibit all books, records, accounts, documents, or agreements governing its method of operation. In lieu of the above, the director may accept the report of an examination made by the insurance supervisory official of another state. No rating organization examined may be reimbursed from the examination fund.

Source: SL 1966, ch 111, ch 15, § 12; SL 2014, ch 239, § 20.
S.D. Codified Laws § 58-33-13 — SD Code / Title 58 / Chapter 33 / Section 58-33-13
Unfair discrimination as misdemeanor--Health insurance
Status: in_force

No person may make or permit any unfair discrimination between individuals of the same class and of essentially the same hazard in the amount of premium, policy fees, or rates charged for any policy or contract of health insurance or in the benefits payable thereunder, or in any of the terms or conditions of such contract, or in any other manner whatever. Violation of this section is a Class 2 misdemeanor. Nothing in this section prohibits different rates charged, or benefits payable, or different underwriting procedures used for individuals insured under a franchise plan or provided discounts based upon administrative savings or incentives for additional family members to purchase insurance.

Source: SL 1966, ch 111, ch 13, § 12 (2); SL 1978, ch 359, § 2; SL 2000, ch 241, § 3.
S.D. Codified Laws § 58-47-16 — SD Code / Title 58 / Chapter 47 / Section 58-47-16
Application for license
Status: in_force

An application for a license under this chapter shall be made to and filed with the director on forms prescribed and furnished by the director. The application shall provide:

(1) The name, residence address, and other information required by the director for an employee or officer of the vendor that is designated by the applicant as the person responsible for the vendor's compliance with the requirements of this chapter; and

(2) The location of the applicant's home office.

Any vendor engaging in portable electronics insurance transactions on or before July 1, 2012 must apply for licensure within ninety days of the application being made available by the director. Any applicant commencing operations after July 1, 2012 must obtain a portable electronics license prior to offering portable electronics insurance.

Source: SL 2012, ch 251, § 17.
S.D. Codified Laws § 58-6A-24 — SD Code / Title 58 / Chapter 6A / Section 58-6A-24
Promulgation of rules
Status: in_force

The director may promulgate, pursuant to chapter 1-26 , such rules relating to risk retention groups as may be necessary or desirable to carry out the provisions of this chapter.

Source: SL 1987, ch 372, § 24.
S.D. Codified Laws § 58-35-63 — SD Code / Title 58 / Chapter 35 / Section 58-35-63
Execution and acknowledgment of articles of merger--Contents of articles
Status: in_force

If the plan of merger is approved, an original and one exact or conforming copy of the articles of merger shall be executed by each corporation by the chairman of the board of directors of the corporation or by its president or by another of its officers. The articles shall be acknowledged and shall set forth:

(1) The plan of merger;

(2) The number of votes voted for and against the merger;

(3) The terms and conditions of the proposed merger;

(4) The names of the surviving corporation's first board of directors;

(5) The surviving corporation's principal office;

(6) The manner and basis of converting the assets and the liabilities of each corporation into assets, liabilities, obligations, or other securities of the surviving corporation or of any other corporation or, in whole or in part, into cash or other property.

Source: SL 1995, ch 293, § 4.
S.D. Codified Laws § 58-4-54 — SD Code / Title 58 / Chapter 4 / Section 58-4-54
Disclosure of premium tax return and return information in judicial or administrative proceeding
Status: in_force

A premium tax return and premium tax return information may be disclosed in a judicial or administrative proceeding:

(1) If the information is directly related to the resolution of an issue in the proceeding; or

(2) To the extent required by a judicial or administrative order.

Source: SL 2012, ch 242, § 6.
S.D. Codified Laws § 58-33-1 — SD Code / Title 58 / Chapter 33 / Section 58-33-1
Purposes of chapter
Status: in_force

The purpose of this chapter is to regulate trade practices in the business of insurance in accordance with the intent of Congress as expressed in the act of Congress of March 9, 1945, (Public Law 15, 79th Congress, ch. 20, 50 U.S. Stat. at Large 33), by defining, or providing for determination of, all such practices in this state which constitute unfair methods of competition or unfair or deceptive acts or practices and by prohibiting the trade practices so defined or determined.

Source: SL 1966, ch 111, ch 13, § 1.
S.D. Codified Laws § 58-5-156 — SD Code / Title 58 / Chapter 5 / Section 58-5-156
Investment of funds by qualified education loan insurer--Limitations--Permitted rating categories
Status: in_force

Notwithstanding any other provision of Title 58 and in addition to any investment permitted pursuant to chapter 58-27 , a qualified education loan insurer may invest funds in the following, and any such investment made by a qualified education loan insurer is not subject to any aggregate amount limitations or other investment limitations except as specifically provided below:

(1) A loan originated under the terms of the Higher Education Act of 1965, as amended;

(2) An education loan not originated under the Higher Education Act of 1965, as amended, the principal and interest of which may be insured or uninsured;

(3) A direct obligation of the United States of America or an obligation with respect to which the full and timely payment of principal and interest is unconditionally guaranteed by the United States of America;

(4) An interest bearing time or demand deposit, certificate of deposit, or a similar banking arrangement with any bank, trust company, national banking association, or other depository institution, provided that, at the time of deposit or purchase, if the investment is for a period exceeding one year, the depository institution shall have long - term unsecured debt rated by at least one nationally recognized statistical rating organization in a permitted rating category or, if the investment is for a period of less than one year, shall have short - term unsecured debt rated by at least one nationally recognized statistical rating organization in a permitted rating category;

(5) An obligation issued or guaranteed as to the principal and interest by any of the following:

(a) The Government National Mortgage Association;

(b) The Federal National Mortgage Association; or

(c) A Federal Farm Credit Bank, a Federal Intermediate Credit Bank, the Export - Import Bank of the United States, a Federal Land Bank, the Student Loan Marketing Association, the Federal Financing Bank, a Federal Home Loan Bank, the Federal Home Loan Mortgage Corporation, the Rural and Community Development Administration, or the Federal Farm Mortgage Acceptance Corporation, provided that any obligation described in this subdivision shall be rated by at least one nationally recognized statistical rating organization in a permitted rating category;

(6) A repurchase agreement or reverse repurchase agreement with any bank which is a member of the Federal Deposit Insurance Corporation or with any government bond dealer insured by the Securities Investor Protection Corporation, which agreement with a bank or government bond dealer is secured by any government obligation described in subdivision (3) of this section at a level sufficient to obtain a rating by at least one nationally recognized statistical rating organization in a permitted rating category, or with any broker or dealer the unsecured long - term debt of which is rated by at least one nationally recognized statistical rating organization in a permitted rating category;

(7) Any money market fund, including a qualified regulated investment company described in the Internal Revenue Service Notice 87-22, rated by at least one nationally recognized statistical rating organization in a permitted rating category;

(8) Any debt instrument, provided that the debt instrument is rated by at least one nationally recognized statistical rating organization in a permitted rating category; and

(9) Any investment agreement constituting a general obligation of an entity whose debt, unsecured securities, deposits, or claims paying ability is rated by at least one nationally recognized statistical rating organization in a permitted rating category.

For the purposes of this section, a permitted rating category is one of the four highest rating categories assigned long - term debt or an equivalent short - term category within either of which there may be subcategories or gradations indicating relative standing.

Source: SL 1998, ch 287, § 3.
S.D. Codified Laws § 58-11-45.1 — SD Code / Title 58 / Chapter 11 / Section 58-11-45.1
Reporting agencies and persons listed with director
Status: in_force

The director of the Division of Insurance may require companies issuing policies to which §§ 58-11-45 to 58-11-54 , inclusive, are applicable to file with him the names and addresses of reporting agencies or persons of the nature described in § 58-11-45.3 and the geographical areas for which these reporting agencies or persons provide such service.

Source: SL 1970, ch 270, § 1.
S.D. Codified Laws § 58-32-42.1 — SD Code / Title 58 / Chapter 32 / Section 58-32-42.1
Uniform report may be prescribed in lieu of annual statement or affidavit as to exported insurance
Status: in_force

The director may prescribe the use of a nationally recognized uniform report for the filing of information contained in affidavits, annual statements, and other reports for surplus lines brokers. If prescribed by the director, the uniform report shall be used in lieu of and satisfies the provisions of §§ 58-32-20 , 58-32-41 , and 58-32-42 . The uniform report shall contain information sufficient to determine the amount and type of surplus lines insurance written in this state and sufficient to determine the appropriate amount of tax to be paid pursuant to this title.

Source: SL 2010, ch 242, § 1.
S.D. Codified Laws § 58-33-41 — SD Code / Title 58 / Chapter 33 / Section 58-33-41
Appeal from director's order
Status: in_force

If the director's report made under § 58-33-38 , or order on hearing made under § 58-33-40 does not charge a violation of this chapter, then any intervener in the proceedings may appeal therefrom within the time and in the manner provided in chapter 1-26 .

Source: SL 1966, ch 111, ch 13, § 5 (3).
S.D. Codified Laws § 58-10-17 — SD Code / Title 58 / Chapter 10 / Section 58-10-17
Creation of entity to purchase, hold, or administer insurance contract on life of individual settlor
Status: in_force

A person who has an insurable interest in the life of an individual settlor pursuant to subdivisions 58-10-4(1) to (6), may create an entity solely for the purpose of purchasing, holding, or administering an insurance contract on the life of the individual settlor. Neither an insurance policy issued to the entity nor any ownership interest in the entity itself may be sold or voluntarily transferred to any entity other than one with an insurable interest in the life of the same individual settlor pursuant to subdivisions 58-10-4(1) to (6). For purposes of this section, entity, has the same meaning as the definition of, person, in subdivision 58-1-2(14).

Source: SL 2015, ch 247, § 1.
S.D. Codified Laws § 58-29B-106 — SD Code / Title 58 / Chapter 29B / Section 58-29B-106
Treatment of late claims not covered by §58-29B-104
Status: in_force

The liquidator may consider any claim filed late which is not covered by § 58-29B-104 , and permit it to receive distributions which are subsequently declared on any claims of the same or lower priority if the payment does not prejudice the orderly administration of the liquidation. The late filing claimant shall receive, at each distribution, the same percentage of the amount allowed on his claim as is then being paid to claimants of any lower priority. This shall continue until his claim has been paid in full.

Source: SL 1989, ch 436, § 106.
S.D. Codified Laws § 58-17H-60 — SD Code / Title 58 / Chapter 17H / Section 58-17H-60
Utilization review organization or health carrier--Health care service--Excluded services
Status: in_force

For purposes of §§ 58-17H-57 to 58-17H-59 , inclusive, “health care services” do not include dental services, pharmaceutical services, or the provision of prescription drug products or supplies.

Source: SL 2026, ch 201, § 4.
S.D. Codified Laws § 58-29F-6 — SD Code / Title 58 / Chapter 29F / Section 58-29F-6
Recoupment or chargeback criteria
Status: in_force

For recoupment or chargeback, the following criteria apply:

(1) Audit parameters shall consider consumer-oriented parameters based on manufacturer listings;

(2) A pharmacy's usual and customary price for compounded medications is considered the reimbursable cost unless the pricing methodology is outlined in the provider contract;

(3) A finding of overpayment or underpayment can only be based on the actual overpayment or underpayment and not a projection based on the number of patients served having a similar diagnosis or on the number of similar orders or refills for similar drugs;

(4) The entity conducting the audit may not use extrapolation in calculating the recoupment or penalties for audits unless required by state or federal law or regulation;

(5) Calculations of overpayments may not include dispensing fees unless:

(a) A prescription was not actually dispensed;

(b) The prescriber denied authorization;

(c) The prescription dispensed was a medication error by the pharmacy; or

(d) The identified overpayment is solely based on an extra dispensing fee;

(6) An entity may not consider any clerical or record-keeping error, such as a typographical error, scrivener's error, or computer error regarding a required document or record as fraud. However, such errors may be subject to recoupment;

(7) In the case of errors that have no actual financial harm to the patient or plan, the pharmacy benefits manager may not assess any chargebacks. Errors that are a result of the pharmacy's failing to comply with a formal corrective action plan may be subject to recovery; and

(8) Interest may not accrue during the audit period for either party. The audit period begins with the notice of the audit and ends with the final audit report.

Source: SL 2013, ch 254, § 6.
S.D. Codified Laws § 58-5-121 — SD Code / Title 58 / Chapter 5 / Section 58-5-121
Approval by director of bulk reinsurance agreement--Disapproval
Status: in_force

The director shall approve such agreement within a reasonable time after such filing unless he finds that it is inequitable to the stockholders or would substantially reduce the protection or service to the policyholders of such domestic insurer. If the director does not approve, he shall so notify the insurer in writing specifying his reasons therefor.

Source: SL 1966, ch 111, ch 16, § 40 (2).
S.D. Codified Laws § 58-27-71 — SD Code / Title 58 / Chapter 27 / Section 58-27-71
Disposal of real estate acquired in satisfaction of debt, as part payment of consideration on sale of real estate, as gift or devise, or through merger, consolidation, or bulk reinsurance--Time limit
Status: in_force

Except as stated in § 58-27-72 , the insurer shall dispose of real estate acquired under subdivisions 58-27-50(2), (3), and (4) within five years after the date of acquisition. The insurer may agree to sell such real estate by contract for deed upon the best terms obtainable.

Source: SL 1966, ch 111, ch 6, § 31 (2).
S.D. Codified Laws § 58-8-12 — SD Code / Title 58 / Chapter 8 / Section 58-8-12
Mode of service of process cumulative
Status: in_force

Nothing in this chapter shall limit or abridge the right to serve any process, notice, or demand upon any insurer in any other manner now or hereafter permitted by law.

Source: SL 1966, ch 111, ch 12, § 8.
S.D. Codified Laws § 58-25-6 — SD Code / Title 58 / Chapter 25 / Section 58-25-6
Matters considered in making rates
Status: in_force

Due consideration will be given to past and prospective loss experiences within and outside the state, reasonable margin for profit and contingencies, cost of participating insurance, percentage to be allocated to reserve, operating expenses and all other relevant factors fairly attributable to the business of title insurance.

Source: SL 1966, ch 111, ch 14, § 2 (3).
S.D. Codified Laws § 58-29B-68 — SD Code / Title 58 / Chapter 29B / Section 58-29B-68
Preference voidable--Consequences
Status: in_force

If the preference is voidable, the liquidator may recover the property or, if it has been converted, its value from any person who has received or converted the property, except where a bona fide purchaser or lienor has given less than fair equivalent value, he shall have a lien upon the property to the extent of the consideration actually given by him. If a preference by way of lien or security title is voidable, the court may on due notice order the lien or title to be preserved for the benefit of the estate, in which event the lien or title shall pass to the liquidator.

Source: SL 1989, ch 436, § 68.
S.D. Codified Laws § 58-15-62 — SD Code / Title 58 / Chapter 15 / Section 58-15-62
Grace period in annuity or endowment contract
Status: in_force

In an annuity or pure endowment contract, other than a reversionary, survivorship, or group annuity, there shall be a provision that there shall be a period of grace of not less than thirty days, within which any stipulated payment to the insurer falling due after the first payment may be made, during which period of grace the contract shall continue in full force; but in case a claim arises under the contract on account of death prior to expiration of the period of grace before the overdue payment to the insurer or the deferred payments of the current contract year, if any, are made, the amount of such payments may be deducted from any amount payable under the contract in settlement.

Source: SL 1966, ch 111, ch 23, § 19.
S.D. Codified Laws § 58-9-23 — SD Code / Title 58 / Chapter 9 / Section 58-9-23
Casualty insurance including livestock insurance
Status: in_force

"Casualty insurance" includes livestock insurance, insurance against loss of or damage to livestock, and services of a veterinary for such animals.

Source: SL 1966, ch 111, ch 4, § 6 (1) (m).