reglab/housing_qa huggingface dataset:
SD Codified L § 58-26-3 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 26 - Valuation Of Assets, Liabilities And Reserves|Section 58-26-3 - Valuation of securities other than evidences of debt.

58-26-3. Valuation of securities other than evidences of debt.Securities, other than those referred to in §58-26-2, held by an insurer, shall be valued, in the discretion of the director, at their market value, or at their appraised value, or at prices determined by him as representing their fair market value. Source: SL 1966, ch 111, ch 5, §13 (1).
SD Codified L § 58-26-4 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 26 - Valuation Of Assets, Liabilities And Reserves|Section 58-26-4 - Preferred or guaranteed stocks--Method of computing value approved by director.

58-26-4. Preferred or guaranteed stocks--Method of computing value approved by director.Preferred or guaranteed stocks or shares while paying full dividends may be carried at a fixed value in lieu of market value, at the discretion of the director and in accordance with such method of computation as he may approve. Source: SL 1966, ch 111, ch 5, §13 (2).
SD Codified L § 58-26-5 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 26 - Valuation Of Assets, Liabilities And Reserves|Section 58-26-5 - Real property acquired pursuant to mortgage loan or contract for sale--Restriction as to valuation.

58-26-5. Real property acquired pursuant to mortgage loan or contract for sale--Restriction as to valuation.Real property acquired pursuant to a mortgage loan or contract for sale, in the absence of a recent appraisal deemed by the director to be reliable, shall not be valued at an amount greater than the unpaid principal of the defaulted loan or contract at the date of such acquisition, together with any taxes and expenses paid or incurred in connection with such acquisition, and the cost of improvements thereafter made by the insurer and any amounts thereafter paid by the insurer on assessments levied for improvements in connection with the property. Source: SL 1966, ch 111, ch 5, §14 (1).
SD Codified L § 58-26-6 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 26 - Valuation Of Assets, Liabilities And Reserves|Section 58-26-6 - Purchase money mortgage on real property--Restriction as to valuation.

58-26-6. Purchase money mortgage on real property--Restriction as to valuation.Purchase money mortgages on real property referred to in §58-26-5 shall be valued in an amount not exceeding the acquisition cost of the real property covered thereby or ninety per cent of the fair value of such real property, whichever is less. Source: SL 1966, ch 111, ch 5, §15.
SD Codified L § 58-26-7 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 26 - Valuation Of Assets, Liabilities And Reserves|Section 58-26-7 - Appraisal for valuation of other real property.

58-26-7. Appraisal for valuation of other real property.Real property held by an insurer, other than that described in §58-26-5, shall not be valued at an amount in excess of fair value as determined by recent appraisal. If valuation is based on an appraisal more than three years old, the director may at his discretion call for and require a new appraisal in order to determine fair value. Source: SL 1966, ch 111, ch 5, §14 (2).
SD Codified L § 58-26-8 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 26 - Valuation Of Assets, Liabilities And Reserves|Section 58-26-8 - Personal property acquired pursuant to chattel mortgage--Restriction as to valuation.

58-26-8. Personal property acquired pursuant to chattel mortgage--Restriction as to valuation.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).
SD Codified L § 58-26-9 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 26 - Valuation Of Assets, Liabilities And Reserves|Section 58-26-9 - Valuation not to be inconsistent with approved method.

58-26-9. Valuation not to be inconsistent with approved method.No valuations under §§58-26-2 to 58-26-8, inclusive, shall be inconsistent with any applicable valuation or method then currently formulated or approved by the national association of insurance commissioners or its successor organization. Source: SL 1966, ch 111, ch 5, §16.
SD Codified L § 58-26-10 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 26 - Valuation Of Assets, Liabilities And Reserves|Section 58-26-10 - Assets not allowed in determining financial condition.

58-26-10. Assets not allowed in determining financial condition.In addition to assets impliedly excluded by other provisions of this title, the following expressly may not be allowed as assets in any determination of the financial condition of an insurer:(1)Goodwill, except goodwill permitted by §58-26-1, trade names, and other like intangible assets;(2)Advances to officers, other than policy loans, whether secured or not, and advances to employees, representatives, insurance producers, and other persons on personal security only;(3)Stock of such insurer, owned by it, or any material equity therein or loans secured thereby, or any material proportionate interest in such stock acquired or held through the ownership by such insurer of an interest in another firm, corporation, or business unit;(4)Furniture, fixtures, furnishings, safes, vehicles, libraries, stationery, literature, and supplies, except in the case of title insurers such materials and plants as the insurer is expressly authorized to invest in under this title and except, in the case of any insurer, such personal property as the insurer is permitted to hold pursuant to this title, or which is acquired through foreclosure of chattel mortgages or which is reasonably necessary for the maintenance and operation of real estate lawfully acquired and held by the insurer other than real estate used by it for home office, branch office, and similar purposes;(5)The amount, if any, by which the aggregate book value of investments as carried in the ledger assets of the insurer exceeds the aggregate value thereof as determined under this title. Source: SL 1966, ch 111, ch 5, §3; SL 2001, ch 286, §134; SL 2004, ch 308, §2.
SD Codified L § 58-26-10.1 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 26 - Valuation Of Assets, Liabilities And Reserves|Section 58-26-10.1 - Radio and television facilities allowable as assets.

58-26-10.1. Radio and television facilities allowable as assets.If an investment pursuant to §58-27-51 is in the assets of a separate business of ownership and operation of a radio station, television station, or community antenna television system, duly licensed by the federal communications commission and in which the insurer is authorized to engage under the provisions of its articles of incorporation, whether such assets or property are real, personal, or mixed, then in determining the value of such investments the actual value, but not exceeding the cost thereof, reduced by reasonable depreciation allowances, of the towers, and transmission cables equipment, used exclusively in such separate business and accounts receivable not over thirty days old, generated therein, shall be counted notwithstanding the provisions of subdivision 58-26-10(4). Source: SDCL, §58-27-51 as added by SL 1974, ch 317.
SD Codified L § 58-26-11 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 26 - Valuation Of Assets, Liabilities And Reserves|Section 58-26-11 - Capital stock and liabilities chargeable against assets.

58-26-11. Capital stock and liabilities chargeable against assets.In any determination of the financial condition of an insurer, capital stock and liabilities to be charged against its assets shall include:(1)The amount of its capital stock outstanding, if any;(2)The amount, estimated consistently with the provisions of this title, necessary to pay all of its unpaid losses and claims incurred on or prior to the date of statement, whether reported or unreported, together with the expenses of adjustment or settlement thereof;(3)With reference to life insurance, annuity contracts, and disability and accidental death benefits:(a)The amount of reserves on life insurance policies and annuity contracts in force, valued according to the tables of mortality, rates of interest, and methods adopted pursuant to this title which are applicable thereto;(b)Reserves for disability benefits, for both active and disabled lives;(c)Reserves for accidental death benefits; and(d)Any additional reserves which may be required by the director consistent with practice formulated or approved by the national association of insurance commissioners, on account of such insurance;(4)With reference to health insurance, the amount of reserves required pursuant to §58-26-30;(5)With reference to insurance other than that specified in subdivisions (3) and (4), and other than title insurance, the amount of reserves equal to the unearned portions of the gross premiums charged on policies in force, computed in accordance with this chapter;(6)Taxes, expenses, and other obligations due or accrued at the date of the statement. Source: SL 1966, ch 111, ch 5, §4.
SD Codified L § 58-26-12 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 26 - Valuation Of Assets, Liabilities And Reserves|Section 58-26-12 - Assets allowed as deductions from corresponding liabilities.

58-26-12. Assets allowed as deductions from corresponding liabilities.Assets may be allowed as deductions from corresponding liabilities, and liabilities may be charged as deductions from assets, and deductions from assets may be charged as liabilities, in accordance with the form of annual statement applicable to the insurer as prescribed by the director, or otherwise in his discretion. Source: SL 1966, ch 111, ch 5, §2.
SD Codified L § 58-26-13.1 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 26 - Valuation Of Assets, Liabilities And Reserves|Section 58-26-13.1 - Actuarial opinion of property, casualty, and health insurers.

58-26-13.1. Actuarial opinion of property, casualty, and health insurers.Every property and casualty and health insurer doing business in this state shall file with its annual statement an actuarial opinion which complies with the standards and procedures in the National Association of Insurance Commissioners Annual Statement Instructions: Property and Casualty, Title, Life/Accident/Health, Health Maintenance Organizations and Hospital Medical and Dental Service or Indemnity Corporations as adopted by rule promulgated by the director pursuant to chapter 1-26. Source: SL 1992, ch 349, §2; SL 1993, ch 357, §5; SL 1994, ch 375, §3; SL 1997, ch 293, §1.
SD Codified L § 58-26-13.2 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 26 - Valuation Of Assets, Liabilities And Reserves|Section 58-26-13.2 - Time limit for compliance with actuary opinion requirements.

58-26-13.2. Time limit for compliance with actuary opinion requirements.Each domestic insurer shall comply with §§58-26-13.1 and 58-26-44 for the year ending December 31, 1993, and each year thereafter, unless the director permits otherwise.Each foreign insurer shall comply with §§58-26-13.1 and 58-26-44 for the year ending December 31, 1994, and each year thereafter, unless the director permits otherwise. Source: SL 1992, ch 349, §4.
SD Codified L § 58-26-30 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 26 - Valuation Of Assets, Liabilities And Reserves|Section 58-26-30 - Reserve requirements for health insurance.

58-26-30. Reserve requirements for health insurance.For all health insurance policies the insurer shall maintain an active life reserve which shall place a sound value on its liabilities under such policies and be not less than the reserve according to appropriate standards set forth in regulations issued by the director and, in no event, less in the aggregate than the prorata gross unearned premiums for such policies. Source: SL 1966, ch 111, ch 5, §7.
SD Codified L § 58-26-31 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 26 - Valuation Of Assets, Liabilities And Reserves|Section 58-26-31 - Reserve for outstanding losses under liability insurance and workers' compensation.

58-26-31. Reserve for outstanding losses under liability insurance and workers' compensation.An insurer shall maintain a reserve for outstanding losses under insurance against loss or damage from accident to or injuries suffered by an employee or other person and for which the insured is liable and which shall be computed as provided by §§58-26-32 to 58-26-35, inclusive. Source: SL 1966, ch 111, ch 5, §8.
SD Codified L § 58-26-32 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 26 - Valuation Of Assets, Liabilities And Reserves|Section 58-26-32 - Reserve for workers' compensation claims under policies written in three years preceding.

58-26-32. Reserve for workers' compensation claims under policies written in three years preceding.For all workers' compensation claims under policies written in the three years immediately preceding the date as of which the statement is made, the reserve required by §58-26-31 shall be calculated in accordance with the Annual Statement Instructions Manual prescribed by the National Association of Insurance Commissioners as adopted by rule by the director pursuant to chapter 1-26. But in any event, the reserve may not be less than the present value at four percent interest of the determined and the estimated unpaid compensation claims under policies written during the three-year period. Source: SL 1966, ch 111, ch 5, §8 (4); SL 1995, ch 284, §44.
SD Codified L § 58-26-33 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 26 - Valuation Of Assets, Liabilities And Reserves|Section 58-26-33 - Reserve for workers' compensation claims under policies written more than three years preceding.

58-26-33. Reserve for workers' compensation claims under policies written more than three years preceding.For all workers' compensation claims under policies written more than three years prior to the date as of which the statement is made, the reserve required by §58-26-31 shall be the present value at four per cent interest of the determined and the estimated future payments. Source: SL 1966, ch 111, ch 5, §8 (3).
SD Codified L § 58-26-34 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 26 - Valuation Of Assets, Liabilities And Reserves|Section 58-26-34 - Reserve for liability policies written during three years preceding.

58-26-34. Reserve for liability policies written during three years preceding.For all liability policies written during the three years immediately preceding the date as of which the statement is made, the reserve required by §58-26-31 shall be calculated in accordance with the Annual Statement Instructions Manual prescribed by the National Association of Insurance Commissioners as adopted by rule by the director pursuant to chapter 1-26. But in any event, the reserve may not be less than the determined and estimated unpaid claims under policies written during the three-year period. For all liability policies written more than three years prior to the date as of which the statement is made, the reserves required by §58-26-31 shall be determined and estimated unpaid claims. Source: SL 1966, ch 111, ch 5, §8 (2); SL 1995, ch 284, §45.
SD Codified L § 58-26-35 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 26 - Valuation Of Assets, Liabilities And Reserves|Section 58-26-35 - Maintaining a reserve for outstanding losses under credit insurance policies.

58-26-35. Maintaining a reserve for outstanding losses under credit insurance policies.An insurer shall maintain a reserve for outstanding losses under credit insurance policies in accordance with the Annual Statement Instructions Manual prescribed by the National Association of Insurance Commissioners as adopted by rule by the director pursuant to chapter 1-26. But in any event, the reserve may not be less than the determined and estimated unpaid claims on all policies. Source: SL 1966, ch 111, ch 5, §8 (1); SL 1995, ch 284, §46.
SD Codified L § 58-26-36 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 26 - Valuation Of Assets, Liabilities And Reserves|Section 58-26-36 - Unearned premium reserve--Insurers required to maintain.

58-26-36. Unearned premium reserve--Insurers required to maintain.As to insurance against loss or damage to property, except as provided in §58-26-41, and as to all general casualty insurance and surety insurance, every insurer shall maintain an unearned premium reserve on all policies in force. Source: SL 1966, ch 111, ch 5, §5 (1).
SD Codified L § 58-26-37 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 26 - Valuation Of Assets, Liabilities And Reserves|Section 58-26-37 - Unearned premium reserve--Computation--Use of table.

58-26-37. Unearned premium reserve--Computation--Use of table.The director may require that reserves required by §58-26-36 shall be equal to the unearned portions of the gross premiums in force after deducting applicable reinsurance in solvent insurers as computed on each respective risk from the policy's date of issue. If the director does not so require, the portions of the gross premium in force, less applicable reinsurance in solvent insurers, to be held as an unearned premium reserve, shall be computed according to the following table:Term for which policy was writtenReserve for unearned premium 1 Year or less  1/22 Years 1st Year3/4 2nd Year1/43 Years 1st Year5/6 2nd Year1/2 3rd Year1/64 Years 1st Year7/8 2nd Year5/8 3rd Year3/8 4th Year1/85 Years 1st Year9/10 2nd Year7/10 3rd Year1/2 4th Year3/10 5th Year1/10Over 5 Years Pro Rata  Source: SL 1966, ch 111, ch 5, §5 (2).
SD Codified L § 58-26-38 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 26 - Valuation Of Assets, Liabilities And Reserves|Section 58-26-38 - Unearned premium reserve--Computation on a prorata basis.

58-26-38. Unearned premium reserve--Computation on a prorata basis.In lieu of computation according to the table in §58-26-37, the insurer at its option may compute all of the reserves required by §58-26-36 on a monthly or more frequent prorata basis. Source: SL 1966, ch 111, ch 5, §5 (3).
SD Codified L § 58-26-39 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 26 - Valuation Of Assets, Liabilities And Reserves|Section 58-26-39 - Change in method of computation of unearned premium reserve--Approval of director required.

58-26-39. Change in method of computation of unearned premium reserve--Approval of director required.After adopting a method for computing the reserve required by §58-26-36, an insurer shall not change methods without approval of the director. Source: SL 1966, ch 111, ch 5, §5 (4).
SD Codified L § 58-26-40 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 26 - Valuation Of Assets, Liabilities And Reserves|Section 58-26-40 - Unearned premium reserve provisions inapplicable to title insurance.

58-26-40. Unearned premium reserve provisions inapplicable to title insurance.Sections 58-26-36 to 58-26-39, inclusive, do not apply to title insurance. Source: SL 1966, ch 111, ch 5, §5 (5).
SD Codified L § 58-26-41 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 26 - Valuation Of Assets, Liabilities And Reserves|Section 58-26-41 - Unearned premium reserve on marine and transportation insurance.

58-26-41. Unearned premium reserve on marine and transportation insurance.As to marine and transportation insurance, the entire amount of premiums on trip risks not terminated shall be deemed unearned; and the director may require the insurer to carry a reserve equal to one hundred percent of premiums on trip risks written during the month ended as of the date of statement. Source: SL 1966, ch 111, ch 5, §6.
SD Codified L § 58-26-43 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 26 - Valuation Of Assets, Liabilities And Reserves|Section 58-26-43 - Increase of inadequate reserves.

58-26-43. Increase of inadequate reserves.If loss experience shows that an insurer's loss reserves, however computed or estimated, are inadequate, the director shall require the insurer to maintain loss reserves in such increased amount as is needed to make them adequate. Source: SL 1966, ch 111, ch 5, §9.
SD Codified L § 58-26-44 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 26 - Valuation Of Assets, Liabilities And Reserves|Section 58-26-44 - Application of chapter.

58-26-44. Application of chapter.This chapter applies to all persons doing an insurance business notwithstanding any provision in this title exempting them from the insurance laws of this state. Source: SL 1992, ch 349, §3.