reglab/housing_qa huggingface dataset:
SD Codified L § 58-24-75 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 24 - Fire, Marine, Casualty, And Surety Insurance Rates And Rating Organizations|Section 58-24-75 - Premium increase prohibited for certain accidents involving law enforcement, emergency, or snow removal personnel--Exception.

58-24-75. Premium increase prohibited for certain accidents involving law enforcement, emergency, or snow removal personnel--Exception.No insurer may increase the premium or rate of an insured at policy issuance, during the term of a policy, or at renewal because of an accident if the insured was lawfully engaged in the performance of official duties as a law enforcement officer, firefighter, emergency medical technician, or operator of emergency snow removal equipment, if the operation of the emergency snow removal equipment is in response to a request from and in support of a law enforcement officer, firefighter, or emergency medical technician for any accident:(1)That occurred while the law enforcement officer, firefighter, emergency medical technician, or operator of emergency snow removal equipment was lawfully engaged in the performance of official duties; and(2)That occurred while the law enforcement officer, firefighter, emergency medical technician, or operator of emergency snow removal equipment was driving an emergency vehicle; and(3)For which the law enforcement officer, firefighter, emergency medical technician, or operator of emergency snow removal equipment furnishes notice to the insurer that the accident occurred under circumstances identified in subdivisions (1) and (2) of this section.This section is not applicable to commercial lines policies. Any premium or rate increase in violation of this section, which is made erroneously and does not constitute a continuing business practice of the insurer, may not be the basis of any disciplinary action by the division against the insurer if the insurer refunds any excess premium promptly upon discovery of the error or upon request by the insured. Source: SL 2007, ch 181, §3; SL 2008, ch 162, §2; SL 2014, ch 240, §1.
SD Codified L § 58-25-1 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 25 - Title Insurance Rates And Policies|Section 58-25-1 - Application of chapter.

58-25-1. Application of chapter.This chapter applies to all kinds and classes of insurance which insure or guarantee titles to real or leasehold property or any estate therein, or against loss by reason of defects, encumbrances, liens, or charges on real or leasehold property or any estate therein; or which insure or guarantee the validity, priority and status of real and leasehold property liens and estates; or which insure or guarantee the correctness and sufficiency of searches for instruments, liens, charges or other matters affecting the title to real or leasehold property or any estate therein. Any person making such guarantees or issuing such insurance shall be deemed to be engaged in the business of title insurance and is hereinafter referred to as "insurer." Source: SL 1966, ch 111, ch 14, §1.
SD Codified L § 58-25-2 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 25 - Title Insurance Rates And Policies|Section 58-25-2 - Making of rates--Provisions governing.

58-25-2. Making of rates--Provisions governing.All rates shall be made in accordance with the provisions of §§58-25-3 to 58-25-6, inclusive. Source: SL 1966, ch 111, ch 14, §2.
SD Codified L § 58-25-3 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 25 - Title Insurance Rates And Policies|Section 58-25-3 - Reasonableness and adequacy of rates.

58-25-3. Reasonableness and adequacy of rates.Rates shall be reasonable and adequate for the class of risks to which they apply. Source: SL 1966, ch 111, ch 14, §2 (1).
SD Codified L § 58-25-4 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 25 - Title Insurance Rates And Policies|Section 58-25-4 - Unfair discrimination in rates prohibited.

58-25-4. Unfair discrimination in rates prohibited.Rates shall not discriminate unfairly between risks involving essentially the same hazards and expense elements. Source: SL 1966, ch 111, ch 14, §2 (2).
SD Codified L § 58-25-5 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 25 - Title Insurance Rates And Policies|Section 58-25-5 - Grouping of guarantees by classification for rate-making.

58-25-5. Grouping of guarantees by classification for rate-making.Guarantees may be grouped by classification for the establishment of rates and minimum premiums. A special or unusual guarantee, more hazardous to the insurer than ordinary title guarantees because of an alleged irregularity or a difference in interpretation or application of law which might affect marketability of title, may be classified individually and separately according to the circumstances peculiar to each case. Source: SL 1966, ch 111, ch 14, §2 (4).
SD Codified L § 58-25-6 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 25 - Title Insurance Rates And Policies|Section 58-25-6 - Matters considered in making rates.

58-25-6. Matters considered in making rates.Due consideration will be given to past and prospective loss experiences within and outside the state, reasonable margin for profit and contingencies, cost of participating insurance, percentage to be allocated to reserve, operating expenses and all other relevant factors fairly attributable to the business of title insurance. Source: SL 1966, ch 111, ch 14, §2 (3).
SD Codified L § 58-25-7 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 25 - Title Insurance Rates And Policies|Section 58-25-7 - Schedule of rates or premiums--Filing with director--Contents.

58-25-7. Schedule of rates or premiums--Filing with director--Contents.Every insurer must file with the director, any manual or schedule of rates or premiums which it proposes to use, together with any rules or regulations governing the setting or making of such rates or premiums, and indicate the character or extent of coverage contemplated under such rates and premiums, except that insurers need not include rates or premiums for a special or unusual guarantee as defined in §58-25-5, and such rates or premiums may be classified individually and separately according to the circumstances peculiar to each case. Source: SL 1966, ch 111, ch 14, §3 (1).
SD Codified L § 58-25-8 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 25 - Title Insurance Rates And Policies|Section 58-25-8 - Contracts, policies, or guarantees required to be filed with director, exceptions.

58-25-8. Contracts, policies, or guarantees required to be filed with director, exceptions.Every insurer must file with the director, all forms of contracts, policies, or guarantees of insurance with any and all types of modifications thereof, except as to special or unusual risks, which it proposes to use. Source: SL 1966, ch 111, ch 14, §3 (2).
SD Codified L § 58-25-9 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 25 - Title Insurance Rates And Policies|Section 58-25-9 - Change in rates or premiums or in contract forms--Filing with and approval by director required.

58-25-9. Change in rates or premiums or in contract forms--Filing with and approval by director required.No change in rates or premiums or in the forms of contracts, policies, or guarantees of insurance shall be permitted to any insurer, unless and until a report indicating such change is filed and approved by the director. Source: SL 1966, ch 111, ch 14, §3 (3).
SD Codified L § 58-25-10 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 25 - Title Insurance Rates And Policies|Section 58-25-10 - Filing of rates and policies--Approval or disapproval by director.

58-25-10. Filing of rates and policies--Approval or disapproval by director.Any filing made pursuant to §§58-25-7 to 58-25-9, inclusive, shall be approved by the director, unless he finds that such filing does not meet the requirements of this chapter or shall otherwise be contrary to law. As soon as reasonably possible after the filing has been made, the director shall, in writing, approve or disapprove the same; provided, however, that, if such filing has not been disapproved by the director within fifteen days from the date of filing, or within thirty days if such period be extended in writing by the director during the first fifteen days, it shall be deemed approved, and the rates, contracts, or other subject matter of such filing may be put into effect by the insurer at the expiration of such waiting period. In the event the director disapproves any filing, he shall specify in what respect he finds that such filing does not meet the requirements of this chapter or is otherwise contrary to law. Source: SL 1966, ch 111, ch 14, §3 (4).
SD Codified L § 58-25-11 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 25 - Title Insurance Rates And Policies|Section 58-25-11 - Finding of director that prior approved filing does not comply with law--Hearing on request--Affirmance or modification of prior action.

58-25-11. Finding of director that prior approved filing does not comply with law--Hearing on request--Affirmance or modification of prior action.If at any time after the approval of a filing, the director should find that the filing does not meet the requirements of §§58-25-7 to 58-25-10, inclusive, or is otherwise contrary to law, or if any party having an interest in such filing should make complaint in writing, setting forth specific and reasonable causes for complaint to the director, or if any insurer, upon notice of disapproval by the director of a filing pursuant to this section, should so request, the director shall hold a hearing within thirty days and shall give notice of the hearing in writing to all parties in interest. The director may confirm, modify, change or rescind any previous action, if warranted by the facts shown at the hearing. Source: SL 1966, ch 111, ch 14, §3 (5).
SD Codified L § 58-25-12 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 25 - Title Insurance Rates And Policies|Section 58-25-12 - Issuance of contract, policy, or guarantee of insurance contrary to filings prohibited--Special risks excepted--Misdemeanor.

58-25-12. Issuance of contract, policy, or guarantee of insurance contrary to filings prohibited--Special risks excepted--Misdemeanor.No insurer shall make or issue any contract, policy, or guarantee of insurance except in accordance with filings approved as provided in §58-25-10, except as to special or unusual risks for which no filing has been provided in §§58-25-7 and 58-25-8. Violation of this section is a Class 2 misdemeanor. Source: SL 1966, ch 111, ch 14, §3 (6); SL 1978, ch 359, §2.
SD Codified L § 58-25-13 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 25 - Title Insurance Rates And Policies|Section 58-25-13 - Deviations, rebates, and discounts prohibited.

58-25-13. Deviations, rebates, and discounts prohibited.Every insurer shall hold to the rates or premiums as approved by the director and may not deviate therefrom nor allow to or for the account of any insured a rebate or discount on the rates or premiums payable. As compensation for procuring business, an insurer may pay or allow a commission to any licensed insurance producer of the insurer. Source: SL 1966, ch 111, ch 14, §3 (7); SL 2001, ch 286, §133.
SD Codified L § 58-25-14 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 25 - Title Insurance Rates And Policies|Section 58-25-14 - Exchange of information and experience data--Consultation as to rate-making.

58-25-14. Exchange of information and experience data--Consultation as to rate-making.In order to further more equitable establishment and adjustment of rates and premiums and forms of contracts, policies, or guarantees of insurance, the director and every insurer may exchange information and experience data with each other, and with the insurance supervisory officials and insurers in other states and with national organizations and associations and may consult and cooperate with them in respect to rate- and premium-making and forms of contracts, policies, and guarantees of insurance. Source: SL 1966, ch 111, ch 14, §3 (8).
SD Codified L § 58-25-15 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 25 - Title Insurance Rates And Policies|Section 58-25-15 - False or misleading information as misdemeanor.

58-25-15. False or misleading information as misdemeanor.No person or organization shall knowingly give false or misleading information to the director, to any insurer or to any other person which will in any manner affect the proper determination of rates or premiums, or the proper issuance of a contract, policy, or guarantee of insurance. Violation of this section is a Class 2 misdemeanor. Source: SL 1966, ch 111, ch 14, §5; SL 1978, ch 359, §2.
SD Codified L § 58-25-16 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 25 - Title Insurance Rates And Policies|Section 58-25-16 - Countersignature by agent or abstracter of county required--Violation as misdemeanor.

58-25-16. Countersignature by agent or abstracter of county required--Violation as misdemeanor.No insurance company shall issue any policy of title insurance or certificate of title or other guarantee of title, covering any property located within the State of South Dakota, unless the same is countersigned by a person, partnership, or corporation, who has met the requirements of §§36-13-8 and 36-13-10 in the county in which the real property is located, or maintains an abstract plant in the county where the real property is located and meets the requirements of chapter 36-13. A violation of this section is a Class 2 misdemeanor. Source: SL 1966, ch 111, ch 14, §4; SL 1978, ch 359, §2; SL 1979, ch 345.
SD Codified L § 58-25-17 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 25 - Title Insurance Rates And Policies|Section 58-25-17 - Violation of chapter--Imposition of penalties by director.

58-25-17. Violation of chapter--Imposition of penalties by director.The director may, if he finds that any person or organization has violated any provision of this chapter, impose a penalty of not more than two hundred fifty dollars for each such violation, but, if he finds such violation to be willful he may impose a penalty of not more than one thousand dollars for each such violation. Such penalties may be in addition to any other penalty provided by law. Source: SL 1966, ch 111, ch 14, §6 (1).
SD Codified L § 58-25-18 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 25 - Title Insurance Rates And Policies|Section 58-25-18 - Suspension of license of insurer--Failure to comply with order of director--Time of taking effect--Duration.

58-25-18. Suspension of license of insurer--Failure to comply with order of director--Time of taking effect--Duration.The director may suspend the license of any insurer who fails to comply with any lawful order of the director within the time limited by such order, or any extension thereof which the director may grant. The director shall not suspend the license of any insurer for failure to comply with an order until the time prescribed for an appeal therefrom has expired or, if any appeal has been taken, until such order has been affirmed. The director may determine when a suspension of license shall become effective, and it shall remain in effect for a period fixed by him, unless he modifies or rescinds such suspension, or until the order upon which such suspension is based is modified, rescinded, or reversed. Source: SL 1966, ch 111, ch 14, §6 (2).
SD Codified L § 58-25-19 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 25 - Title Insurance Rates And Policies|Section 58-25-19 - Written order of director for imposition of penalty and suspension of license--Hearing, notice, findings.

58-25-19. Written order of director for imposition of penalty and suspension of license--Hearing, notice, findings.No penalty shall be imposed and no license shall be suspended except upon written order of the director, stating his findings, made after a hearing held upon not less than ten days' written notice to such person or insurer and specifying the alleged violation. Source: SL 1966, ch 111, ch 14, §6 (3).
SD Codified L § 58-25-20 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 25 - Title Insurance Rates And Policies|Section 58-25-20 - Conduct of hearings before director.

58-25-20. Conduct of hearings before director.Hearings before the director as to matters under this chapter shall be conducted in accordance with chapter 1-26. Source: SL 1966, ch 111, ch 14, §7 (1); SL 1978, ch 359, §16.
SD Codified L § 58-25-22 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 25 - Title Insurance Rates And Policies|Section 58-25-22 - Title insurance company to maintain reserve--Amount.

58-25-22. Title insurance company to maintain reserve--Amount.A title insurance company shall establish and maintain a statutory premium reserve of not less than an amount computed in accordance with this section. The statutory premium reserve shall consist of the aggregate of the statutory premium reserve on January 1, 2002, and:(1)A sum equal to twenty-four cents for each one thousand dollars of net retained liability under each title insurance policy written for less than five hundred thousand dollars after January 1, 2002; and(2)A sum equal to twelve cents for each one thousand dollars of net retained liability under each title insurance policy written for five hundred thousand dollars or greater after January 1, 2002. Source: SL 2002, ch 239, §1.
SD Codified L § 58-25-23 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 25 - Title Insurance Rates And Policies|Section 58-25-23 - Reserves restored to net profits over twenty-year period--Amortization rate.

58-25-23. Reserves restored to net profits over twenty-year period--Amortization rate.The aggregate of the amounts set aside in this reserve in any calendar year pursuant to §58-25-22 shall be released from the reserve and restored to net profits over a period of twenty years at an amortization rate not to exceed the following formula: thirty-five percent of the aggregate sum on July first of the year next succeeding the year of addition; fifteen percent of the aggregate sum on July first of each of the succeeding two years; ten percent of the aggregate sum on July first of the next succeeding year; three percent of the aggregate sum on July first of each of the next three succeeding years; two percent of the aggregate sum on July first of each of the next three succeeding years; and one percent of the aggregate sum on July first of each of the next succeeding ten years. Source: SL 2002, ch 239, §2.
SD Codified L § 58-25-24 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 25 - Title Insurance Rates And Policies|Section 58-25-24 - Calculation of adjusted statutory or unearned premium reserve.

58-25-24. Calculation of adjusted statutory or unearned premium reserve.The insurer shall calculate an adjusted statutory or unearned premium reserve as of the year of first application of §58-25-22. The adjusted reserve must be calculated as if §58-25-22 had been in effect for each year beginning twenty years before the year of first application of §58-25-22. For purposes of this calculation, the balance of the reserve as of that date is considered to be zero. If the adjusted reserve so calculated exceeds the aggregate amount set aside for statutory or unearned premiums in the insurer's most recent annual statement filed with the director, the insurer shall, out of total charges for policies of title insurance, increase its statutory or unearned premium reserve by an amount equal to one-sixth of that excess in each of the succeeding six years, beginning with the calendar year that includes the year of first application of §58-25-22 until the entire excess has been added. Source: SL 2002, ch 239, §3.
SD Codified L § 58-25-25 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 25 - Title Insurance Rates And Policies|Section 58-25-25 - Adjusted reserves restored to net profits or equity.

58-25-25. Adjusted reserves restored to net profits or equity.The aggregate of the amounts set aside in this reserve in any calendar year as adjustments to the insurer's statutory or unearned premium reserve pursuant to §58-25-24 shall be released from the reserve and restored to net profits, or equity if the additions required by §58-25-24 reduced equity directly, over a period not exceeding ten years pursuant to the following table: Year of AdditionReleaseYear 1Equally over ten yearsYear 2Equally over nine yearsYear 3Equally over eight yearsYear 4Equally over seven yearsYear 5Equally over six yearsYear 6Equally over five years For purposes of this section, year is the calendar year following the year of first application of §55-25-22. Source: SL 2002, ch 239, §4.
SD Codified L § 58-25-26 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 25 - Title Insurance Rates And Policies|Section 58-25-26 - Title insurer to maintain known claim reserve--Amount.

58-25-26. Title insurer to maintain known claim reserve--Amount.A title insurer shall establish and maintain a known claim reserve in an amount estimated to be sufficient to cover all unpaid losses, claims, and allocated loss adjustment expenses arising under title insurance policies, guaranteed certificates of title, guaranteed searches, and guaranteed abstracts of title and all unpaid losses, claims, and allocated loss adjustment expenses for which the title insurer may be liable and for which the title insurer has received notice by or on behalf of the insured, holder of a guarantee or escrow, or security depositor. Source: SL 2002, ch 239, §5.
SD Codified L § 58-25-27 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 25 - Title Insurance Rates And Policies|Section 58-25-27 - Supplemental reserve to cover liabilities.

58-25-27. Supplemental reserve to cover liabilities.A supplemental reserve shall be established consisting of any other reserves necessary, when taken in combination with the reserves required by §§58-25-22 to 58-25-27, inclusive, to cover the company's liabilities with respect to all losses, claims, and loss adjustment expenses. Source: SL 2002, ch 239, §6.
SD Codified L § 58-26-2 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 26 - Valuation Of Assets, Liabilities And Reserves|Section 58-26-2 - Valuation of bonds or other evidences of debt--Method of calculation.

58-26-2. Valuation of bonds or other evidences of debt--Method of calculation.All bonds or other evidences of debt having a fixed term and rate of interest held by an insurer may, if amply secured and not in default as to principal or interest, be valued as follows:(1)If purchased at par, at the par value;(2)If purchased above or below par, on the basis of the purchase price adjusted so as to bring the value to par at maturity and so as to yield in the meantime the effective rate of interest at which the purchase was made, or in lieu of such method, according to such accepted method of valuation as is approved by the director;(3)Purchase price shall in no case be taken at a higher figure than the actual market value at the time of purchase, plus actual brokerage, transfer, postage, or express charges paid in the acquisition of such securities;(4)Unless otherwise provided by valuation established or approved by the director, no such security shall be carried at above the call price for the entire issue during any period within which the security may be so called.The director shall have full discretion in determining the method of calculating values according to the rules set forth in this section. Source: SL 1966, ch 111, ch 5, §12.