reglab/housing_qa huggingface dataset:
SD Codified L § 58-5A-80.2 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 05A - Insurance Holding Companies|Section 58-5A-80.2 - International active insurance group--Group-wide supervisor determination.

  58-5A-80.2  .  International active insurance group--Group-wide supervisor determination.   In cooperation with other state, federal, and international regulatory agencies, the director shall identify a single group-wide supervisor for an internationally active insurance group. The director may determine that the director is the appropriate group-wide supervisor for an internationally active insurance group that conducts substantial insurance operations concentrated in this state. The director may acknowledge that an insurance regulatory official from another jurisdiction is the appropriate group-wide supervisor for the internationally active insurance group. When making a determination or acknowledgment under this section, the director shall consider the following factors:   (1) The place of domicile of the insurers within the internationally active insurance group that hold the largest share of the group’s written premiums, assets, or liabilities;   (2) The place of domicile of the top-tiered insurer or insurers in the insurance holding company system of the internationally active insurance group;   (3) The location of the executive offices or largest operational offices of the internationally active insurance group;   (4) Whether another regulatory official is acting or is seeking to act as the group-wide supervisor under a regulatory system that the director determines is:   (a) Substantially similar to the system of regulation provided under the laws of this state; or   (b) Otherwise sufficient in terms of providing for group-wide supervision, enterprise risk analysis, and cooperation with other regulatory officials; and   (5) Whether another regulatory official acting or seeking to act as the group-wide supervisor provides the director with reasonably reciprocal recognition and cooperation.   The insurance regulatory official identified under this section as the group-wide supervisor may determine that it is appropriate to acknowledge another supervisor to serve as the group-wide supervisor. The acknowledgment of the group-wide supervisor shall be made after consideration of the factors listed above and made in cooperation with and subject to the acknowledgment of other regulatory officials involved with supervision of members of the internationally active insurance group, and in consultation with the internationally active insurance group.     Source:  SL 2020, ch 213, § 3.
SD Codified L § 58-5A-80.3 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 05A - Insurance Holding Companies|Section 58-5A-80.3 - Internationally active insurance group--Group-wide supervisor acknowledgment.

  58-5A-80.3  .  Internationally active insurance group--Group-wide supervisor acknowledgment.   Notwithstanding any other provision in §§  58-5A-80.1   to 58-5A-80.9, inclusive, if another regulatory official is acting as the group-wide supervisor of an internationally active insurance group, the director shall acknowledge that regulatory official as the group-wide supervisor. The director shall make a determination or acknowledgment as to the appropriate group-wide supervisor pursuant to §  58-5A-80.2   if a material change in the internationally active insurance group results in any of the following:   (1) The internationally active insurance group's insurers domiciled in this state hold the largest share of the group's premiums, assets or liabilities; or   (2) This state becomes the place of domicile of the top-tiered insurer or insurers in the insurance holding company system of the internationally active insurance group.     Source:  SL 2020, ch 213, § 4.
SD Codified L § 58-5A-80.4 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 05A - Insurance Holding Companies|Section 58-5A-80.4 - Group-wide supervisor--Information for determination.

  58-5A-80.4  .  Group-wide supervisor--Information for determination.   The director, as provided in §  58-5A-37  , may collect any information necessary to determine if the director may act as the group-wide supervisor of an internationally active insurance group or if the director may acknowledge another regulatory official to act as the group-wide supervisor. Prior to issuing a determination that an internationally active insurance group is subject to group-wide supervision by the director, the director shall notify the insurer registered under this chapter and the ultimate controlling person within the internationally active insurance group. The internationally active insurance group shall have at least thirty days to provide the director with additional information pertinent to the pending determination. The director shall publish the identity of any internationally active insurance group that the director has determined is subject to group-wide supervision by the director on the division's website.     Source:  SL 2020, ch 213, § 5.
SD Codified L § 58-5A-80.5 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 05A - Insurance Holding Companies|Section 58-5A-80.5 - Group-wide supervisor--Director supervision--Permitted activities.

  58-5A-80.5  .  Group-wide supervisor--Director supervision--Permitted activities.   If the director is the group-wide supervisor for an internationally active insurance group, the director may engage in any of the following group-wide supervision activities:   (1) Assess the enterprise risks within the internationally active insurance group to ensure that:   (a) The material financial condition and liquidity risks to the members of the internationally active insurance group that are engaged in the business of insurance are identified by management; and   (b) Reasonable and effective mitigation measures are in place;   (2) Request, from any member of an internationally active insurance group subject to the director's supervision, information necessary and appropriate to assess enterprise risk, including information about the members of the internationally active insurance group regarding:   (a) Governance, risk assessment and management;   (b) Capital adequacy; and   (c) Material intercompany transactions;   (3) Coordinate and, through the authority of the regulatory officials of the jurisdictions where members of the internationally active insurance group are domiciled, compel development and implementation of reasonable measures designed to ensure that the internationally active insurance group is able to timely recognize and mitigate enterprise risks to members of the internationally active insurance group that are engaged in the business of insurance;   (4) Communicate with other state, federal, and international regulatory agencies for members within the internationally active insurance group and share relevant information subject to the confidentiality provisions of §  58-5A-41  , through supervisory colleges as set forth in §  58-5A-78  ;   (5) Enter into an agreement with or obtain documentation from any insurer registered under this chapter, any member of the internationally active insurance group, and any other state, federal and international regulatory agency for members of the internationally active insurance group, providing the basis for or otherwise clarifying the director's role as group-wide supervisor, including provisions for resolving disputes with other regulatory officials. The agreement or documentation may not serve as evidence in any proceeding that any insurer or person within an insurance holding company system not domiciled or incorporated in this state is doing business in this state or is otherwise subject to jurisdiction in this state; and   (6) Other group-wide supervision activities, consistent with the authorities and purposes enumerated above, as considered necessary by the director.     Source:  SL 2020, ch 213, § 6.
SD Codified L § 58-5A-80.6 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 05A - Insurance Holding Companies|Section 58-5A-80.6 - Group-wide supervisor--Director cooperation.

  58-5A-80.6  .  Group-wide supervisor--Director cooperation.   If the director acknowledges that another regulatory official from a jurisdiction that is not accredited by the NAIC is the group-wide supervisor, the director may reasonably cooperate, through supervisory colleges, with group-wide supervision undertaken by the group-wide supervisor, if:   (1) The director's cooperation is in compliance with the laws of this state; and   (2) The regulatory official acknowledged as the group-wide supervisor also recognizes and cooperates with the director's activities as a group-wide supervisor for other internationally active insurance groups, where applicable. If the recognition and cooperation is not reasonably reciprocal, the director may refuse recognition and cooperation.     Source:  SL 2020, ch 213, § 7.
SD Codified L § 58-5A-80.7 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 05A - Insurance Holding Companies|Section 58-5A-80.7 - Information sharing.

  58-5A-80.7  .  Information sharing.   The director may enter into any agreement with or obtain documentation from any insurer registered under this chapter, any affiliate of the insurer, and any other state, federal, and international regulatory agency for members of the internationally active insurance group, that provide the basis for or otherwise clarify a regulatory official's role as group-wide supervisor.     Source:  SL 2020, ch 213, § 8.
SD Codified L § 58-5A-80.8 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 05A - Insurance Holding Companies|Section 58-5A-80.8 - Promulgation of rules.

  58-5A-80.8  .  Promulgation of rules.   The director may promulgate rules, pursuant to chapter   1-26  , establishing requirements, standards, criteria, and limitations for group-wide supervisors.     Source:  SL 2020, ch 213, § 9.
SD Codified L § 58-5A-80.9 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 05A - Insurance Holding Companies|Section 58-5A-80.9 - Reasonable expenses.

  58-5A-80.9  .  Reasonable expenses.   A registered insurer subject to the provisions of §§  58-5A-80.1   to   58-5A-80.8  , inclusive, is liable for and shall pay the reasonable expenses of the director's participation in the administration of §§  58-5A-80.1   to   58-5A-80.8  , inclusive, including the engagement of attorneys, actuaries, and any other professionals and all reasonable travel expenses.     Source:  SL 2020, ch 213, § 10.
SD Codified L § 58-5A-81 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 05A - Insurance Holding Companies|Section 58-5A-81 - Maintenance of risk management framework.

58-5A-81. Maintenance of risk management framework.An insurer shall maintain a risk management framework to assist the insurer with identifying, assessing, monitoring, managing, and reporting on its material and relevant risks. This requirement may be satisfied if the insurance group, of which the insurer is a member, maintains a risk management framework applicable to the operations of the insurer. Source: SL 2017, ch 210, §2.
SD Codified L § 58-5A-82 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 05A - Insurance Holding Companies|Section 58-5A-82 - Regular conduct of ORSA.

58-5A-82. Regular conduct of ORSA.Subject to the provisions of §§58-5A-85 to 58-5A-88, inclusive, an insurer, or the insurance group of which the insurer is a member, shall regularly conduct an ORSA consistent with a process comparable to the ORSA guidance manual. The ORSA shall be conducted at least annually but also at any time when there are significant changes to the risk profile of the insurer or the insurance group of which the insurer is a member. Source: SL 2017, ch 210, §3.
SD Codified L § 58-5A-83 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 05A - Insurance Holding Companies|Section 58-5A-83 - Submission of ORSA summary report or comparable reports to division.

58-5A-83. Submission of ORSA summary report or comparable reports to division.The ORSA summary report, or any combination of reports that together contain the information described in the ORSA guidance manual, shall be submitted to the division upon the director's request. The director may request the ORSA summary report no more than annually. If the insurer is a member of an insurance group, then the insurer shall submit the report or reports required by §§58-5A-81 to 58-5A-93, inclusive, if the director is the lead state director of the insurance group.An insurer may comply with this section by providing the most recent and substantially similar reports provided by the insurer or another member of an insurance group of which the insurer is a member to the commissioner of another state or to a supervisor or regulator of a foreign jurisdiction, if that report provides information that is comparable to the information described in the ORSA guidance manual. Any such report in a language other than English must be accompanied by a translation of that report into the English language. Source: SL 2017, ch 210, §4.
SD Codified L § 58-5A-84 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 05A - Insurance Holding Companies|Section 58-5A-84 - ORSA summary report requirements.

58-5A-84. ORSA summary report requirements.ORSA summary reports shall:(1)Include a signature of the insurer or insurance group's chief risk officer or other executive having responsibility for the oversight of the insurer's enterprise risk management process attesting to the best of their belief and knowledge that the insurer applies the enterprise risk management process described in the ORSA summary report and that a copy of the report has been provided to the insurer's board of directors or the appropriate committee thereof;(2)Be prepared consistent with the ORSA guidance manual. Documentation and supporting information shall be maintained and made available upon examination or upon request of the director; and(3)Be reviewed by the division, and any additional requests for information shall be made using similar procedures currently used in the analysis and examination of multi-state or global insurers and insurance groups. Source: SL 2017, ch 210, §5.
SD Codified L § 58-5A-85 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 05A - Insurance Holding Companies|Section 58-5A-85 - Exemption from requirements.

58-5A-85. Exemption from requirements.An insurer shall be exempt from the requirements of §§58-5A-81 to 58-5A-93, inclusive, if:(1)The insurer has annual direct written and unaffiliated assumed premium, including international direct and assumed premium but excluding premiums reinsured with the Federal Crop Insurance Corporation and National Flood Insurance Program, less than five hundred million dollars; and(2)The insurance group of which the insurer is a member has annual direct written and unaffiliated assumed premium, including international direct and assumed premium, but excluding premiums reinsured with the Federal Crop Insurance Corporation and National Flood Insurance Program, less than one billion dollars. Source: SL 2017, ch 210, §6.
SD Codified L § 58-5A-86 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 05A - Insurance Holding Companies|Section 58-5A-86 - Requirements where insurer or insurer's group does not qualify for exemption.

58-5A-86. Requirements where insurer or insurer's group does not qualify for exemption.If an insurer qualifies for exemption pursuant to subdivision 58-5A-85(1), but the insurance group of which the insurer is a member does not qualify for exemption pursuant to subdivision 58-5A-85(2), the ORSA summary report that may be required shall include every insurer within the insurance group. This requirement may be satisfied by the submission of more than one ORSA summary report for any combination of insurers provided any combination of reports includes every insurer within the insurance group.If an insurer does not qualify for exemption pursuant to subdivision 58-5A-85(1), but the insurance group of which it is a member qualifies for exemption pursuant to subdivision 58-5A-85(2), the only ORSA summary report that may be required shall be the report applicable to that insurer. Source: SL 2017, ch 210, §7.
SD Codified L § 58-5A-87 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 05A - Insurance Holding Companies|Section 58-5A-87 - Insurer's application for waiver.

58-5A-87. Insurer's application for waiver.An insurer that does not qualify for exemption may apply to the director for a waiver from the requirements of §§58-5A-81 to 58-5A-93, inclusive, based upon unique circumstances. In deciding whether to grant the insurer's request for waiver, the director may consider the type and volume of business written, ownership and organizational structure, and any other factor the director considers relevant to the insurer or insurance group of which the insurer is a member. If the insurer is part of an insurance group with insurers domiciled in more than one state, the director shall coordinate with the lead state commissioner and with the other domiciliary commissioners in considering whether to grant the insurer's request for a waiver. Source: SL 2017, ch 210, §8.
SD Codified L § 58-5A-88 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 05A - Insurance Holding Companies|Section 58-5A-88 - One year period to comply with requirements following loss of qualification for exemption.

58-5A-88. One year period to comply with requirements following loss of qualification for exemption.If an insurer that qualifies for an exemption subsequently no longer qualifies for that exemption due to changes in premium as reflected in the insurer's most recent annual statement or in the most recent annual statements of the insurers within the insurance group of which the insurer is a member, the insurer shall have one year following the year the threshold is exceeded to comply with the requirements of §§58-5A-81 to 58-5A-93, inclusive. Source: SL 2017, ch 210, §9.
SD Codified L § 58-5A-89 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 05A - Insurance Holding Companies|Section 58-5A-89 - Conditions under which director may require maintenance of risk management framework, conduct of ORSA, and filing of ORSA summary report.

58-5A-89. Conditions under which director may require maintenance of risk management framework, conduct of ORSA, and filing of ORSA summary report.Notwithstanding the exemptions from the requirements of §§58-5A-81 to 58-5A-93, inclusive, the director may require that an insurer maintain a risk management framework, conduct an ORSA, and file an ORSA summary report:(1)Based on unique circumstances including the type and volume of business written, ownership and organizational structure, federal agency requests, and international supervisor requests; or(2)If the insurer has risk-based capital levels requiring company action, meets one or more of the standards of an insurer deemed to be in hazardous financial condition, or otherwise exhibits qualities of a troubled insurer as determined by the director. Source: SL 2017, ch 210, §10.
SD Codified L § 58-5A-90 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 05A - Insurance Holding Companies|Section 58-5A-90 - Confidentiality of information submitted to division.

58-5A-90. Confidentiality of information submitted to division.Documents, materials, or other information, including the ORSA summary report, in the possession of or control of the division that are obtained by, created by, or disclosed to the director or any other person under §§58-5A-81 to 58-5A-93, inclusive, are recognized by this state as being proprietary and containing trade secrets. All such documents, materials, or other information are confidential by law and privileged, are not subject to chapter 1-27, are not subject to subpoena, and are not subject to discovery or admissible in evidence in any private civil action. However, the director is authorized to use the documents, materials, or other information in the furtherance of any regulatory or legal action brought as a part of the director's official duties. The director may not make the documents, materials, or other information public without the prior written consent of the insurer.Neither the director nor any person who received documents, materials, or other ORSA-related information, through examination or otherwise, while acting under the authority of the director or with whom such documents, materials, or other information are shared pursuant to §§58-5A-81 to 58-5A-93, inclusive, may be permitted or required to testify in any private civil action concerning any confidential documents, materials, or information except in regulatory or legal actions brought as a part of the director's official duties. Source: SL 2017, ch 210, §11.
SD Codified L § 58-5A-92 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 05A - Insurance Holding Companies|Section 58-5A-92 - Sharing of information and documents by director--Confidentiality.

58-5A-92. Sharing of information and documents by director--Confidentiality.The sharing of information and documents by the director pursuant to §§58-5A-81 to 58-5A-93, inclusive, does not constitute a delegation of regulatory authority or rule making. The director is solely responsible for the administration, execution, and enforcement of the provisions of §§58-5A-81 to 58-5A-93, inclusive. No waiver of any applicable privilege or claim of confidentiality in the documents, proprietary and trade-secret materials, or other ORSA-related information may occur as a result of disclosure of such ORSA-related information or documents to the director under this section or as a result of sharing as authorized in §§58-5A-81 to 58-5A-93, inclusive. Documents, materials, or other information in the possession or control of the NAIC or a third-party consultant pursuant to §§58-5A-81 to 58-5A-93, inclusive, are confidential by law and privileged, are not subject to chapter 1-27, are not subject to subpoena, and are not subject to discovery or admissible in evidence in any private civil action. Source: SL 2017, ch 210, §13.
SD Codified L § 58-5A-93 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 05A - Insurance Holding Companies|Section 58-5A-93 - Promulgation of rules regarding ORSA.

58-5A-93. Promulgation of rules regarding ORSA.The director shall promulgate rules, pursuant to chapter 1-26, to carry out ORSA including:(1)Adoption of the NAIC ORSA guidance manual;(2)Definition of terms;(3)Fees; and(4)Timing, form, and content of reports. Source: SL 2017, ch 210, §14.
SD Codified L § 58-5B-1 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 05B - Mutual Medical Malpractice Insurers|Section 58-5B-1 - Definition of terms.

58-5B-1. Definition of terms.Terms as used in this chapter, unless the context otherwise requires, mean:(1)"Director," the director of insurance or a designee;(2)"Licensed health care provider," includes a physician and surgeon, osteopath, osteopathic physician and surgeon, or nurse licensed pursuant to the laws of a state, and a hospital licensed pursuant to the laws of a state;(3)"Medical malpractice insurance," insurance coverage against the legal liability of the insured and against loss, damage, or expense incident to a claim arising out of the death or injury of any person as the result of negligence or malpractice in rendering professional service by any licensed health care provider;(4)"State" or "states," any or all of the states of Montana, Nebraska, North Dakota, South Dakota, and Wyoming. Source: SL 1976, ch 315, §1.