reglab/housing_qa huggingface dataset:
SD Codified L § 58-5-83 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 05 - Organization And General Powers Of Insurers|Section 58-5-83 - Succession to office during national emergency.

58-5-83. Succession to office during national emergency.At any time the board of directors of a domestic insurer may, by resolution, provide that in the event of such a national emergency and in the event of the death or incapacity of the president, the secretary or the treasurer of the insurer, such officers, or any of them, shall be succeeded in the office by the person named or described in a succession list adopted by the board of directors. Such list may be on the basis of named persons or position titles, shall establish the order of priority, and may prescribe the conditions under which the powers of the office shall be exercised. Source: SL 1966, ch 111, ch 16, §43 (5).
SD Codified L § 58-5-84 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 05 - Organization And General Powers Of Insurers|Section 58-5-84 - Principal place of business during national emergency.

58-5-84. Principal place of business during national emergency.At any time the board of directors of a domestic insurer may, by resolution, provide that in the event of such national emergency the home office or principal place of business of the insurer shall be at such location as is named or described in the resolution. Such resolution may provide for alternate locations and establish an order of preference. Source: SL 1966, ch 111, ch 16, §43 (6).
SD Codified L § 58-5-85 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 05 - Organization And General Powers Of Insurers|Section 58-5-85 - Domestic insurers--Management and exclusive agency contracts, filing with and approval by director--Violation as misdemeanor.

58-5-85. Domestic insurers--Management and exclusive agency contracts, filing with and approval by director--Violation as misdemeanor.No domestic insurer shall make or participate in any contract whereby any person is granted or is to enjoy in fact the management of the insurer to the substantial exclusion of its board of directors, or to have the controlling or preemptive right to produce substantially all insurance business for the insurer, unless the contract is filed with and approved by the director of the Division of Insurance. Violation of this section is a Class 2 misdemeanor. Source: SL 1966, ch 111, ch 16, §23 (1); SL 1978, ch 359, §2.
SD Codified L § 58-5-86 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 05 - Organization And General Powers Of Insurers|Section 58-5-86 - Domestic insurer--Management and exclusive agency contracts, disapproval by director, grounds.

58-5-86. Domestic insurer--Management and exclusive agency contracts, disapproval by director, grounds.The director shall disapprove any such contract if he finds that it:(1)Subjects the insurer to excessive charges; or(2)Is to extend for an unreasonable length of time; or(3)Does not contain fair and adequate standards of performance; or(4)Contains any provision which the director deems detrimental to the best interests of stockholders or members of the insurer. Source: SL 1966, ch 111, ch 16, §23 (2).
SD Codified L § 58-5-87 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 05 - Organization And General Powers Of Insurers|Section 58-5-87 - Domestic insurer--Management and exclusive agency contracts, time for disapproval by director--Disapproval in writing, statement of grounds.

58-5-87. Domestic insurer--Management and exclusive agency contracts, time for disapproval by director--Disapproval in writing, statement of grounds.The contract shall be deemed approved unless disapproved by the director within twenty days after date of filing, subject to such reasonable extension of time as the director may require by notice given within such twenty days. Any disapproval shall be delivered to the insurer in writing, stating the grounds therefor. Source: SL 1966, ch 111, ch 16, §23 (1).
SD Codified L § 58-5-93 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 05 - Organization And General Powers Of Insurers|Section 58-5-93 - Location of home office and principal place of business of domestic insurers--Records maintained.

58-5-93. Location of home office and principal place of business of domestic insurers--Records maintained.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.
SD Codified L § 58-5-94 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 05 - Organization And General Powers Of Insurers|Section 58-5-94 - Assets of domestic insurer to be maintained in state--Exceptions.

58-5-94. Assets of domestic insurer to be maintained in state--Exceptions.Every domestic insurer shall have and maintain its assets in this state, except as to:(1)Real property and personal property appurtenant thereto lawfully owned by the insurer and located outside this state; and(2)Such property of the insurer as may be customary, necessary, and convenient to enable and facilitate the operation of its branch offices and "regional home offices" located outside this state as referred to in §58-5-97. Source: SL 1966, ch 111, ch 16, §24 (2).
SD Codified L § 58-5-95 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 05 - Organization And General Powers Of Insurers|Section 58-5-95 - Director's consent required for removal of records or assets from state--Unauthorized removal or concealment as felony.

58-5-95. Director's consent required for removal of records or assets from state--Unauthorized removal or concealment as felony.Removal of all or a material part of the records or assets of a domestic insurer from this state except pursuant to a plan of merger or consolidation approved by the director under this title, or for such reasonable purposes and periods of time as may be approved by the director in writing in advance of such removal, or concealment of such records or assets or material part thereof from the director, is prohibited. Any person who removes or attempts to remove such records or assets or such material part thereof from the home office or other place of business or of safekeeping of the insurer in this state with the intent to remove the same from this state, or who conceals or attempts to conceal the same from the director, in violation of this section, is guilty of a Class 5 felony. Source: SL 1966, ch 111, ch 16, §24 (3); SL 1978, ch 359, §4.
SD Codified L § 58-5-96 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 05 - Organization And General Powers Of Insurers|Section 58-5-96 - Delinquency proceedings by director for removal or attempted removal of records or assets of domestic insurer.

58-5-96. Delinquency proceedings by director for removal or attempted removal of records or assets of domestic insurer.Upon any removal or attempted removal of such records or assets or upon retention of such records or assets or material part thereof outside this state, beyond the period therefor specified in the director's consent under which the records were so removed thereat, or upon concealment of or attempt to conceal records or assets in violation of §58-5-95, the director may institute delinquency proceedings against the insurer pursuant to the provisions of chapter 58-29B. Source: SL 1966, ch 111, ch 16, §24 (3).
SD Codified L § 58-5-97 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 05 - Organization And General Powers Of Insurers|Section 58-5-97 - Branch offices established by domestic insurer--Transmission of funds outside state--Deposits under custodial arrangements.

58-5-97. Branch offices established by domestic insurer--Transmission of funds outside state--Deposits under custodial arrangements.Sections 58-5-93 to 58-5-96, inclusive, shall not be deemed to prohibit or prevent an insurer from:(1)Establishing and maintaining branch offices or "regional home offices" in other states where necessary or convenient to the transaction of its business and keeping therein the detailed records and assets customary and necessary for the servicing of its insurance in the territory served by such an office, as long as such records and assets are made available for examination by the director of the Division of Insurance at his request;(2)Having, depositing, or transmitting funds and assets of the insurer in or to jurisdictions outside of this state as reasonably and customarily required in the regular course of its business; and(3)Making deposits under custodial arrangements as provided by §§58-7-18 to 58-7-25, inclusive. Source: SL 1966, ch 111, ch 16, §24 (4).
SD Codified L § 58-5-98 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 05 - Organization And General Powers Of Insurers|Section 58-5-98 - Prior maintenance by domestic insurer of branch or regional place of business or home office outside state not invalidated.

58-5-98. Prior maintenance by domestic insurer of branch or regional place of business or home office outside state not invalidated.Nothing in §§58-5-93 to 58-5-96, inclusive, shall invalidate continued maintenance by any domestic insurer of branch or regional places of business or home offices established outside this state prior to July 1, 1959, or business practices in connection therewith established prior to July 1, 1959. Source: SL 1966, ch 111, ch 16, §24 (5); SL 1967, ch 134; SL 1982, ch 110, §5.
SD Codified L § 58-5-99 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 05 - Organization And General Powers Of Insurers|Section 58-5-99 - "Reciprocating state" defined.

58-5-99. Reciprocating state defined.A "reciprocating" state, as used in §§58-5-100 to 58-5-103, inclusive, is one under the laws of which limitations similar to those contained in said sections are imposed upon and enforced against insurers domiciled in that state. Source: SL 1966, ch 111, ch 16, §28 (4).
SD Codified L § 58-5-100 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 05 - Organization And General Powers Of Insurers|Section 58-5-100 - Solicitation by domestic insurer in reciprocating state in which it has no license prohibited.

58-5-100. Solicitation by domestic insurer in reciprocating state in which it has no license prohibited.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.
SD Codified L § 58-5-101 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 05 - Organization And General Powers Of Insurers|Section 58-5-101 - Advertising through publications and broadcasts originating outside reciprocating state not prohibited.

58-5-101. Advertising through publications and broadcasts originating outside reciprocating state not prohibited.Section 58-5-100 shall not prohibit advertising through publication and radio, television, and other broadcasts originating outside such reciprocating state, provided such advertising is not specifically directed to residents of such reciprocating state. Source: SL 1966, ch 111, ch 16, §28 (2).
SD Codified L § 58-5-102 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 05 - Organization And General Powers Of Insurers|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.

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.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).
SD Codified L § 58-5-103 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 05 - Organization And General Powers Of Insurers|Section 58-5-103 - Suspension or revocation of certificate of authority for violation by domestic insurer.

58-5-103. Suspension or revocation of certificate of authority for violation by domestic insurer.The director of the Division of Insurance shall, after a hearing, suspend or revoke the certificate of authority of a domestic insurer found by him to have violated §58-5-100. Source: SL 1966, ch 111, ch 16, §28 (5).
SD Codified L § 58-5-104 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 05 - Organization And General Powers Of Insurers|Section 58-5-104 - Participating policies--Issuance authorized by articles of domestic insurer--Nondiscrimination between policyholders.

58-5-104. Participating policies--Issuance authorized by articles of domestic insurer--Nondiscrimination between policyholders.If provided in its articles of incorporation, a domestic insurer may issue and classify policies with or without participation in profits, savings, or unabsorbed portions of premiums and determine the right to participate and the extent of participation of any class or classes of policies. Any such classification or determination shall be reasonable, and shall not discriminate between policyholders within the same classification. A life insurer may issue both participating and nonparticipating policies only if the right or absence of right to participate is reasonably related to the premium charged. Source: SL 1966, ch 111, ch 16, §32 (1).
SD Codified L § 58-5-105 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 05 - Organization And General Powers Of Insurers|Section 58-5-105 - Continued issuance of participating policies without authorization in articles.

58-5-105. Continued issuance of participating policies without authorization in articles.Any domestic insurer which, prior to July 1, 1966, had been issuing all or part of its policies on a participating basis without authorization in its articles of incorporation, may continue to issue such policies. Source: SL 1966, ch 111, ch 16, §32 (1).
SD Codified L § 58-5-106 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 05 - Organization And General Powers Of Insurers|Section 58-5-106 - Dividends on participating policies not contingent on renewal premiums.

58-5-106. Dividends on participating policies not contingent on renewal premiums.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).
SD Codified L § 58-5-107 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 05 - Organization And General Powers Of Insurers|Section 58-5-107 - Participating policyholder as member.

58-5-107. Participating policyholder as member.Wherever, in any statutory provision, there is use of the word "member" as applying to a mutual and stock insurance company, the same shall be construed as meaning a participating policyholder of such company and shall have no connotation of membership in such company as when used with reference to mutual insurers. Source: SL 1966, ch 111, ch 16, §19.
SD Codified L § 58-5-108 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 05 - Organization And General Powers Of Insurers|Section 58-5-108 - Borrowed surplus of domestic stock or mutual insurer--Agreement to repay, interest.

58-5-108. Borrowed surplus of domestic stock or mutual insurer--Agreement to repay, interest.A domestic stock or mutual insurer may borrow money to defray the expenses of its organization, provide it with surplus funds, or for any purpose of its business, upon a written agreement that such money shall be repaid only out of the insurer's surplus in excess of that stipulated in such agreement. The agreement may provide for the interest rate to be negotiated between the borrower and the lender, which interest shall or shall not constitute a liability of the insurer as to its funds other than such excess of surplus, as stipulated in the agreement. No commission or promotion expense shall be paid in connection with any such loan. Source: SL 1966, ch 111, ch 16, §34 (1); SL 1980, ch 351.
SD Codified L § 58-5-109 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 05 - Organization And General Powers Of Insurers|Section 58-5-109 - Approval of loan and agreement by director--Disapproval of proposed loan or agreement, grounds.

58-5-109. Approval of loan and agreement by director--Disapproval of proposed loan or agreement, grounds.Any loan pursuant to §58-5-108 shall be subject to the approval of the director of the Division of Insurance. The insurer shall, in advance of the loan, file with the director a statement of the purpose of the loan and a copy of the proposed loan agreement. The loan and agreement shall be deemed approved unless within fifteen days after date of such filing the insurer is notified of the director's disapproval and the reasons therefor. The director shall disapprove any proposed loan or agreement if he finds the loan is unnecessary or excessive for the purpose intended, or that the terms of the loan agreement are not fair and equitable or that the information so filed by the insurer is inadequate. Source: SL 1966, ch 111, ch 16, §34 (3).
SD Codified L § 58-5-110 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 05 - Organization And General Powers Of Insurers|Section 58-5-110 - Legal liabilities of insurer on borrowed funds--Disclosure in financial statement.

58-5-110. Legal liabilities of insurer on borrowed funds--Disclosure in financial statement.Money borrowed pursuant to §58-5-108, together with the interest thereon if so stipulated in the agreement, shall not form a part of the insurer's legal liabilities except as to its surplus in excess of the amount thereof stipulated in the agreement, or be the basis of any setoff; but until repaid, financial statements filed or published by the insurer shall show as a footnote thereto the amount thereof then unpaid together with any interest thereon accrued but unpaid. Source: SL 1966, ch 111, ch 16, §34 (2).
SD Codified L § 58-5-111 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 05 - Organization And General Powers Of Insurers|Section 58-5-111 - Repayment of loan by domestic insurer.

58-5-111. Repayment of loan by domestic insurer.Any loan pursuant to §58-5-108 or substantial portion thereof shall be repaid by the insurer, upon the director's prior approval, when no longer reasonably necessary for the purpose originally intended. Source: SL 1966, ch 111, ch 16, §34 (4).
SD Codified L § 58-5-112 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 05 - Organization And General Powers Of Insurers|Section 58-5-112 - Provisions as to borrowed surplus inapplicable to loans in ordinary course of business or secured by pledge or mortgage.

58-5-112. Provisions as to borrowed surplus inapplicable to loans in ordinary course of business or secured by pledge or mortgage.Sections 58-5-108 to 58-5-111, inclusive, shall not apply to loans obtained by an insurer in the ordinary course of business from banks and other financial institutions, nor to loans secured by pledge or mortgage of assets. Source: SL 1966, ch 111, ch 16, §34 (5).
SD Codified L § 58-5-113 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 05 - Organization And General Powers Of Insurers|Section 58-5-113 - Illegal dividends--Revocation or suspension of certificate of authority.

58-5-113. Illegal dividends--Revocation or suspension of certificate of authority.The director may revoke or suspend the certificate of authority of an insurer which has declared or paid a dividend contrary to the general corporation laws of this state. Source: SL 1966, ch 111, ch 16, §33.
SD Codified L § 58-5-114 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 05 - Organization And General Powers Of Insurers|Section 58-5-114 - Impairment of capital or surplus of domestic stock or mutual insurer--Determination of amount of deficiency by director--Notice to insurer.

58-5-114. Impairment of capital or surplus of domestic stock or mutual insurer--Determination of amount of deficiency by director--Notice to insurer.If a domestic stock insurer's basic paid-in capital as required by §§58-6-23 to 58-6-26, inclusive, or the minimum basic surplus of a domestic mutual insurer as required by §§58-5-21 and 58-5-22 becomes impaired, the director of the Division of Insurance shall at once determine the amount of deficiency and serve notice upon the insurer to cure the deficiency and file proof thereof with him within the period specified in the notice, which period shall be not less than thirty nor more than ninety days from the date of the notice. Source: SL 1966, ch 111, ch 16, §35 (1).
SD Codified L § 58-5-115 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 05 - Organization And General Powers Of Insurers|Section 58-5-115 - Curing impairment of capital or surplus.

58-5-115. Curing impairment of capital or surplus.The deficiency may be cured by cash or assets eligible under chapter 58-27; or by amendment of the insurer's certificate of authority to cover only such kind or kinds of insurance thereafter for which such insurer has sufficient basic paid-in capital or minimum basic surplus under this title. Source: SL 1966, ch 111, ch 16, §35 (2).
SD Codified L § 58-5-116 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 05 - Organization And General Powers Of Insurers|Section 58-5-116 - Assessment of stockholders to cure impairment of capital or surplus--Enforcement.

58-5-116. Assessment of stockholders to cure impairment of capital or surplus--Enforcement.A stock insurer, upon receiving the director's notice of deficiency as set forth in §58-5-114, by resolution of its board of directors and subject to any limitations upon assessment contained in its articles of incorporation, may assess its stockholders for amounts necessary to cure the deficiency and provide for a reasonable amount of surplus. If a stockholder fails to pay such assessment after notice, the insurer may require the return of the original certificate of stock, deduct such assessment, and issue a new certificate for such stockholder's remaining interest. The insurer may pay for or reissue fractional shares under this section. Source: SL 1966, ch 111, ch 16, §36 (1).
SD Codified L § 58-5-117 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 05 - Organization And General Powers Of Insurers|Section 58-5-117 - Levy of assessment by mutual insurer to cure deficiency.

58-5-117. Levy of assessment by mutual insurer to cure deficiency.A mutual insurer, upon receiving the director's notice of deficiency as set forth in §58-5-114, shall levy such an assessment upon members as is provided for in §§58-5-32 to 58-5-36, inclusive. Source: SL 1966, ch 111, ch 16, §36 (2).