reglab/housing_qa huggingface dataset:
SD Codified L § 58-26-65 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 26 - Valuation Of Assets, Liabilities And Reserves|Section 58-26-65 - Tables used for individual annuity and pure endowment contracts issued prior to July 1, 1978--Interest.

58-26-65. Tables used for individual annuity and pure endowment contracts issued prior to July 1, 1978--Interest.The tables that shall be used for individual annuity and pure endowment contracts issued prior to July 1, 1978, excluding any disability and accidental death benefits in the contracts are: the 1971 Individual Annuity Mortality Table or any modification of this table approved by the director, and six percent interest for single premium immediate annuity contracts, and four percent interest for all other individual annuity and pure endowment contracts. Source: SL 1995, ch 284, §21.
SD Codified L § 58-26-66 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 26 - Valuation Of Assets, Liabilities And Reserves|Section 58-26-66 - Tables used for individual single premium immediate annuity contracts issued on or after July 1, 1978--Interest.

58-26-66. Tables used for individual single premium immediate annuity contracts issued on or after July 1, 1978--Interest.The tables that shall be used for individual single premium immediate annuity contracts issued on or after July 1, 1978, excluding any disability and accidental death benefits in the contracts are: the 1971 Individual Annuity Mortality Table or any individual annuity mortality table, adopted after 1980 by the NAIC that is approved by rules promulgated pursuant to chapter 1-26 by the director for use in determining the minimum standard of valuation for the contracts, or any modification of these tables approved by the director, and seven and one-half percent interest. Source: SL 1995, ch 284, §22; SL 2015, ch 254, §12.
SD Codified L § 58-26-67 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 26 - Valuation Of Assets, Liabilities And Reserves|Section 58-26-67 - Tables used for individual annuity and pure endowment contracts issued on or after July 1, 1978--Interest.

58-26-67. Tables used for individual annuity and pure endowment contracts issued on or after July 1, 1978--Interest.The tables that shall be used for individual annuity and pure endowment contracts issued on or after July 1, 1978, other than single premium immediate annuity contracts, excluding any disability and accidental death benefits in the contracts are: the 1971 Individual Annuity Mortality Table or any individual annuity mortality table adopted after 1980 by the NAIC, that is approved by rules promulgated pursuant to chapter 1-26 by the director for use in determining the minimum standard of valuation for the contracts, or any modification of these tables approved by the director, and five and one-half percent interest for single premium deferred annuity and pure endowment contracts and four and one-half percent interest for all other individual annuity and pure endowment contracts. Source: SL 1995, ch 284, §23; SL 2015, ch 254, §13.
SD Codified L § 58-26-68 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 26 - Valuation Of Assets, Liabilities And Reserves|Section 58-26-68 - Tables used for annuities and pure endowments purchased under group contracts prior to July 1, 1978--Interest.

58-26-68. Tables used for annuities and pure endowments purchased under group contracts prior to July 1, 1978--Interest.The tables that shall be used for all annuities and pure endowments purchased prior to July 1, 1978, under group annuity and pure endowment contracts, excluding any disability and accidental death benefits purchased under the contracts are: the 1971 Group Annuity Mortality Table or any modification of this table approved by the director, and six percent interest. Source: SL 1995, ch 284, §24.
SD Codified L § 58-26-69 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 26 - Valuation Of Assets, Liabilities And Reserves|Section 58-26-69 - Tables used for annuities and pure endowments purchased under group contracts after July 1, 1978--Interest.

58-26-69. Tables used for annuities and pure endowments purchased under group contracts after July 1, 1978--Interest.The tables that shall be used for all annuities and pure endowments purchased on or after July 1, 1978, under group annuity and pure endowment contracts, excluding any disability and accidental death benefits purchased under the contracts are: the 1971 Group Annuity Mortality Table, or any group annuity mortality table adopted after 1980 by the NAIC, that is approved by rules promulgated pursuant to chapter 1-26 by the director for use in determining the minimum standard of valuation for annuities and pure endowments, or any modification of these tables approved by the director, and seven and one-half percent interest. Source: SL 1995, ch 284, §25; SL 2015, ch 254, §14.
SD Codified L § 58-26-70 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 26 - Valuation Of Assets, Liabilities And Reserves|Section 58-26-70 - Written notice of election to comply with provisions of §§ 58-26-64 to 58-26-69, inclusive--Operative date.

58-26-70. Written notice of election to comply with provisions of §§58-26-64 to 58-26-69, inclusive--Operative date.After July 1, 1973, any company may file with the director a written notice of its election to comply with the provisions of §§58-26-64 to 58-26-69, inclusive, after a specified date before January 1, 1979, which is the operative date of §§58-26-64 to 58-26-69, inclusive, for the company. However, if a company does not elect to comply, the operative date of §§58-26-64 to 58-26-69, inclusive, for the company is January 1, 1979. Source: SL 1995, ch 284, §26.
SD Codified L § 58-26-73 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 26 - Valuation Of Assets, Liabilities And Reserves|Section 58-26-73 - Reference interest rate defined.

58-26-73. Reference interest rate defined.Reference interest rate referred to in §58-26-71 is defined as follows:(1)For all life insurance, the lesser of the average over a period of thirty-six months and the average over a period of twelve months, ending on June thirtieth of the calendar year next preceding the year of issue, of the Monthly Average of the Composite Yield on Seasoned Corporate Bonds, as published by Moody's Investors Service, Inc.;(2)For single premium immediate annuities and for annuity benefits involving life contingencies arising from other annuities with cash settlement options and guaranteed interest contracts with cash settlement options, the average over a period of twelve months, ending on June thirtieth of the calendar year of issue or year of purchase, of the Monthly Average of the Composite Yield on Seasoned Corporate Bonds, as published by Moody's Investors Service, Inc.;(3)For other annuities with cash settlement options and guaranteed interest contracts with cash settlement options, valued on a year of issue basis, except as stated in subdivision (2), with guarantee duration in excess of ten years, the lesser of the average over a period of thirty-six months and the average over a period of twelve months, ending on June thirtieth of the calendar year of issue or purchase, of the Monthly Average of the Composite Yield on Seasoned Corporate Bonds, as published by Moody's Investors Service, Inc.;(4)For other annuities with cash settlement options and guaranteed interest contracts with cash settlement options, valued on a year of issue basis, except as stated in subdivision (2), with guarantee duration of ten years or less, the average over a period of twelve months, ending on June thirtieth of the calendar year of issue or purchase, of the Monthly Average of the Composite Yield on Seasoned Corporate Bonds, as published by Moody's Investors Service, Inc.;(5)For other annuities with no cash settlement options and for guaranteed interest contracts with no cash settlement options, the average over a period of twelve months, ending on June thirtieth of the calendar year of issue or purchase, of the Monthly Average of the Composite Yield on Seasoned Corporate Bonds, as published by Moody's Investors Service, Inc.;(6)For other annuities with cash settlement options and guaranteed interest contracts with cash settlement options, valued on a change in fund basis, except as stated in subdivision (2), the average over a period of twelve months, ending on June thirtieth of the calendar year of the change in the fund, of the Monthly Average of the Composite Yield on Seasoned Corporate Bonds, as published by Moody's Investors Service, Inc. Source: SL 1995, ch 284, §29.
SD Codified L § 58-26-74 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 26 - Valuation Of Assets, Liabilities And Reserves|Section 58-26-74 - Alternative method for determination of reference interest rate.

58-26-74. Alternative method for determination of reference interest rate.If the Monthly Average of the Composite Yield on Seasoned Corporate Bonds is no longer published by Moody's Investors Service, Inc., or if the NAIC determines that the Monthly Average of the Composite Yield on Seasoned Corporate Bonds as published by Moody's Investors Service, Inc., is no longer appropriate for the determination of the reference interest rate, then an alternative method for determination of the reference interest rate, which is adopted by the NAIC and approved by rules promulgated pursuant to chapter 1-26 by the director, may be substituted. Source: SL 1995, ch 284, §30; SL 2015, ch 254, §16.
SD Codified L § 58-26-76 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 26 - Valuation Of Assets, Liabilities And Reserves|Section 58-26-76 - Valuation of reserves for certain annuity or pure endowment contracts.

58-26-76. Valuation of reserves for certain annuity or pure endowment contracts.This section applies to all annuity and pure endowment contracts other than group annuity and pure endowment contracts purchased under a retirement plan or plan of deferred compensation, established or maintained by an employer, including a partnership or sole proprietorship, or by an employee organization, or by both, other than a plan providing individual retirement accounts or individual retirement annuities under section 408 of the Internal Revenue Code, as of January 1, 1995.Reserves according to the commissioners' annuity reserve method for benefits under annuity or pure endowment contracts, excluding any disability and accidental death benefits in the contracts, are the greatest of the respective excesses of the present values, at the date of valuation, of the future guaranteed benefits, including guaranteed nonforfeiture benefits, provided for by the contracts at the end of each respective contract year, over the present value, at the date of valuation, of any future valuation considerations derived from the future gross considerations, required by the terms of the contract, that become payable prior to the end of the respective contract year. The future guaranteed benefits shall be determined by using the mortality table, if any, and the interest rate or rates, specified in the contracts for determining guaranteed benefits. The valuation considerations are the portions of the respective gross considerations applied under the terms of the contract to determine nonforfeiture values. Source: SL 1995, ch 284, §32.
SD Codified L § 58-26-77 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 26 - Valuation Of Assets, Liabilities And Reserves|Section 58-26-77 - Minimum aggregate reserves for life insurance policies.

58-26-77. Minimum aggregate reserves for life insurance policies.No company's aggregate reserves for all life insurance policies, excluding disability and accidental death benefits, issued on or after July 1, 1995, may be less than the aggregate reserves calculated in accordance with the methods set forth in §§58-26-75, 58-26-76, 58-26-81, 58-26-82, and 58-26-83 and the mortality table or tables and rate or rates of interest used in calculating nonforfeiture benefits for the policies. The aggregate reserves for all policies, contracts, and benefits may not be less than the aggregate reserves determined by the appointed actuary to be necessary to give the opinion required by §§58-26-46 to 58-26-55, inclusive. Source: SL 1995, ch 284, §33; SL 2015, ch 254, §18.
SD Codified L § 58-26-78 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 26 - Valuation Of Assets, Liabilities And Reserves|Section 58-26-78 - Standards for calculating reserves for policies and contracts issued prior to July 1, 1995.

58-26-78. Standards for calculating reserves for policies and contracts issued prior to July 1, 1995.Reserves for policies and contracts issued prior to July 1, 1995, may be calculated, at the option of the company, according to any standards which produce greater aggregate reserves for all the policies and contracts than the minimum reserves required by the laws in effect immediately prior to July 1, 1995. Source: SL 1995, ch 284, §34; SL 2015, ch 254, §19.
SD Codified L § 58-26-79 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 26 - Valuation Of Assets, Liabilities And Reserves|Section 58-26-79 - Standards for calculating reserves for policies, contracts or benefits issued on or after July 1, 1995.

58-26-79. Standards for calculating reserves for policies, contracts or benefits issued on or after July 1, 1995.Reserves for any category of policies, contracts, or benefits as established by the director, issued on or after July 1, 1995, may be calculated, at the option of the company, according to any standards which produce greater aggregate reserves for any category than those calculated according to the minimum standard provided in this chapter, but the rate or rates of interest used for policies and contracts, other than annuity and pure endowment contracts, may not be greater than the corresponding rate or rates of interest used in calculating any nonforfeiture benefits provided in the policies or contracts. Source: SL 1995, ch 284, §35; SL 2015, ch 254, §20.
SD Codified L § 58-26-80 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 26 - Valuation Of Assets, Liabilities And Reserves|Section 58-26-80 - Company's greater standard of valuation may be lowered with director approval.

58-26-80. Company's greater standard of valuation may be lowered with director approval.Any company which adopts any standard of valuation producing greater aggregate reserves than those calculated according to the minimum standard provided in this chapter may, with the approval of the director, adopt any lower standard of valuation, but not lower than the minimum provided by this chapter. However, for the purposes of this section and §§58-26-78 and 58-26-79, the holding of additional reserves previously determined by the appointed actuary to be necessary to render the opinion required by §§58-26-46 to 58-26-55, inclusive, is not considered to be the adoption of a higher standard of valuation. Source: SL 1995, ch 284, §36; SL 2015, ch 254, §21.
SD Codified L § 58-26-81 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 26 - Valuation Of Assets, Liabilities And Reserves|Section 58-26-81 - Determining minimum reserve when gross premium charged is less than the valuation net premium.

58-26-81. Determining minimum reserve when gross premium charged is less than the valuation net premium.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.
SD Codified L § 58-26-82 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 26 - Valuation Of Assets, Liabilities And Reserves|Section 58-26-82 - Application of §§ 58-26-75 and 58-26-81 to certain life insurance policies issued on or after January 1, 1986.

58-26-82. Application of §§58-26-75 and 58-26-81 to certain life insurance policies issued on or after January 1, 1986.If for any life insurance policy issued on or after January 1, 1986, for which the gross premium in the first policy year exceeds that of the second year and for which no comparable additional benefit is provided in the first year for the excess and which provides an endowment benefit or a cash surrender value or a combination thereof in an amount greater than the excess premium, the foregoing provisions of §58-26-81 and this section shall be applied as if the method actually used in calculating the reserve for the policy were the method described in §58-26-75, ignoring the second paragraph of §58-26-75. The minimum reserve at each policy anniversary of a policy shall be the greater of the minimum reserve calculated in accordance with §58-26-75, including the second paragraph of that section, and the minimum reserve calculated in accordance with §58-26-81 and this section. Source: SL 1995, ch 284, §38.
SD Codified L § 58-26-83 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 26 - Valuation Of Assets, Liabilities And Reserves|Section 58-26-83 - Requirements for reserves for life insurance providing for future premium determination or for reserves undeterminable under methods in § 58-26-75, 58-26-76, 58-26-81, or 58-26-82.

58-26-83. Requirements for reserves for life insurance providing for future premium determination or for reserves undeterminable under methods in §58-26-75, 58-26-76, 58-26-81, or 58-26-82.Any plan of life insurance which provides for future premium determination, the amounts of which are to be determined by the insurance company based on then estimates of future experience, or in the case of any plan of life insurance or annuity which is of a nature that the minimum reserves cannot be determined by the methods described in §§58-26-75, 58-26-76, 58-26-81, and 58-26-82, the reserves which are held under any plan must:(1)Be appropriate in relation to the benefits and the pattern of premiums for that plan; and(2)Be computed by a method which is consistent with the principles of this Standard Valuation Law, as determined by rules promulgated by the director pursuant to chapter 1-26. Source: SL 1995, ch 284, §39.
SD Codified L § 58-26-84 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 26 - Valuation Of Assets, Liabilities And Reserves|Section 58-26-84 - Promulgation of rules for minimum standards applicable to health plans issued on or after July 1, 1995 and before operative date of valuation manual.

58-26-84. Promulgation of rules for minimum standards applicable to health plans issued on or after July 1, 1995 and before operative date of valuation manual.The director shall promulgate rules pursuant to chapter 1-26 for containing the minimum standards applicable to the valuation of health plans, including disability, sickness, and accident, issued on or after July 1, 1995, and prior to the operative date of the valuation manual. For accident and health insurance contracts issued on or after the operative date of the valuation manual, the standard prescribed in the valuation manual is the minimum standard of valuation required pursuant to §58-26-45.1. Source: SL 1995, ch 284, §40; SL 2015, ch 254, §23.
SD Codified L § 58-26-86 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 26 - Valuation Of Assets, Liabilities And Reserves|Section 58-26-86 - Actuarial opinion summary to be filed with property, casualty, and health insurers' annual statement.

58-26-86. Actuarial opinion summary to be filed with property, casualty, and health insurers' annual statement.Each property and casualty and health insurer domiciled in this state shall file with the insurer's annual statement an actuarial opinion summary written by the company's appointed actuary which complies with 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 rules promulgated by the director pursuant to chapter 1-26.A company licensed, but not domiciled in this state, shall provide the actuarial opinion summary upon request. Source: SL 2009, ch 271, §41.
SD Codified L § 58-26-87 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 26 - Valuation Of Assets, Liabilities And Reserves|Section 58-26-87 - Actuarial report and workpapers to support actuarial opinion.

58-26-87. Actuarial report and workpapers to support actuarial opinion.The actuarial report and underlying workpapers as required by the National Association of Insurance Commissioners annual statement instructions, as adopted by rules promulgated by the director pursuant to chapter 1-26, shall be prepared to support each actuarial opinion. Source: SL 2009, ch 271, §42.
SD Codified L § 58-26-88 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 26 - Valuation Of Assets, Liabilities And Reserves|Section 58-26-88 - Preparation of supporting actuarial report or workpapers upon insurer's failure to provide acceptable supporting documents.

58-26-88. Preparation of supporting actuarial report or workpapers upon insurer's failure to provide acceptable supporting documents.If the insurance company fails to provide a supporting actuarial report or workpapers at the request of the director or the director determines that the supporting actuarial report or workpapers provided by the insurance company is otherwise unacceptable, the director may engage a qualified actuary at the expense of the company to review the opinion and the basis for the opinion and prepare the supporting actuarial report or workpapers. Source: SL 2009, ch 271, §43.
SD Codified L § 58-26-89 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 26 - Valuation Of Assets, Liabilities And Reserves|Section 58-26-89 - Statement of actuarial opinion to be filed with annual statement--Public document.

58-26-89. Statement of actuarial opinion to be filed with annual statement--Public document.The statement of actuarial opinion shall be provided with the annual statement in accordance with the appropriate National Association of Insurance Commissioners Property and Casualty 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 rules promulgated by the director pursuant to chapter 1-26, and shall be treated as a public document. Source: SL 2009, ch 271, §44.