reglab/housing_qa huggingface dataset:
SD Codified L § 58-5-150 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 05 - Organization And General Powers Of Insurers|Section 58-5-150 - Materiality of nonrenewals, cancellations or revisions.

58-5-150. Materiality of nonrenewals, cancellations or revisions.No nonrenewals, cancellations, or revisions of ceded reinsurance programs need to be reported pursuant to §58-5-143 if the nonrenewals, cancellations, or revisions are not material. For purposes of the chapter, a material nonrenewal, cancellation, or revision is one that affects the property and casualty business, including accident and health business, by more than fifty percent of an insurer's ceded written premium, or for life, annuity, and accident and health business, more than fifty percent of the total reserve credit taken for business ceded, on an annualized basis as indicated in the insurer's most recently filed statutory statement. However, no filing is required if the insurer's ceded written premium or the total reserve credit taken for business ceded represents, on an annualized basis, less than ten percent of direct plus assumed written premium or ten percent of the statutory reserve requirement prior to any cession, respectively. Source: SL 1995, ch 275, §7.
SD Codified L § 58-5-151 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 05 - Organization And General Powers Of Insurers|Section 58-5-151 - Reporting material nonrenewal, cancellation or revision.

58-5-151. Reporting material nonrenewal, cancellation or revision.Subject to the criteria provided in §58-5-150, a report shall be filed without regard to which party has initiated the nonrenewal, cancellation or revision of ceded reinsurance whenever one or more of the following conditions exist:(1)The entire cession has been cancelled, nonrenewed, or revised and ceded indemnity and loss adjustment expense reserves after any nonrenewal, cancellation, or revision represent less than fifty percent of the comparable reserves that would have been ceded had the nonrenewal, cancellation, or revision not occurred;(2)An authorized or accredited reinsurer has been replaced on an existing cession by an unauthorized reinsurer; or(3)Collateral requirements previously established for unauthorized reinsurers have been reduced.Subject to the materiality criteria, for purposes of subdivisions (2) and (3), a report shall be filed if the result of the revision affects more than ten percent of the cession. Source: SL 1995, ch 275, §8.
SD Codified L § 58-5-152 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 05 - Organization And General Powers Of Insurers|Section 58-5-152 - Required information in reporting material nonrenewal, cancellation, or revision.

58-5-152. Required information in reporting material nonrenewal, cancellation, or revision.The following information shall be disclosed in any report of a material nonrenewal, cancellation, or revision of ceded reinsurance agreements:(1)Effective date of the nonrenewal, cancellation, or revision;(2)The description of the transaction with an identification of the initiator thereof;(3)Purpose of, or reason for, the transaction; and(4)If applicable, the identity of the replacement reinsurers. Source: SL 1995, ch 275, §9.
SD Codified L § 58-5-153 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 05 - Organization And General Powers Of Insurers|Section 58-5-153 - Determining whether to report material nonrenewals, cancellations, or revisions on a nonconsolidated or consolidated basis.

58-5-153. Determining whether to report material nonrenewals, cancellations, or revisions on a nonconsolidated or consolidated basis.Insurers shall report all material nonrenewals, cancellations, or revisions of ceded reinsurance agreements on a nonconsolidated basis unless the insurer is part of a consolidated group of insurers which utilizes a pooling arrangement or one hundred percent reinsurance agreement that affects the solvency and integrity of the insurer's reserves and the insurer ceded substantially all of its direct and assumed business to the pool. An insurer is deemed to have ceded substantially all of its direct and assumed business to a pool if the insurer has less than one million dollars of total direct plus assumed written premiums during a calendar year that are not subject to a pooling arrangement and the net income of the business not subject to the pooling arrangement represents less than five percent of the insurer's capital and surplus. Source: SL 1995, ch 275, §10.
SD Codified L § 58-5-154 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 05 - Organization And General Powers Of Insurers|Section 58-5-154 - "Qualified education loan insurer" defined.

58-5-154. Qualified education loan insurer defined.The term, qualified education loan insurer, means a domestic stock insurer formed under chapter 58-5 for the principal purposes of transacting surety insurance, in this state only, in the education loan market and principally or beneficially owning or through a wholly-owned subsidiary investing in education loans, including loans originated in accordance with the terms of the Higher Education Act of 1965, as amended. Source: SL 1998, ch 287, §1.
SD Codified L § 58-5-155 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 05 - Organization And General Powers Of Insurers|Section 58-5-155 - Qualified education loan insurer subject to Title 58--Exceptions.

58-5-155. Qualified education loan insurer subject to Title 58--Exceptions. Any qualified education loan insurer is subject to the provisions of Title 58 except as otherwise specifically provided in §§58-5-154 to 58-5-160, inclusive. Notwithstanding any other provision of Title 58, a qualified education loan insurer is not subject to the following provisions of Title 58 and any rules promulgated to implement any such provisions:(1)Sections 58-4-48 and 58-5-85;(2)Subdivision 58-5-7(5) to the extent that this subdivision permits only one class of authorized voting common stock or otherwise restricts the authorization of preferred stock, with or without voting rights; and(3)Chapter 58-5A. Source: SL 1998, ch 287, §2; SL 2021, ch 210, § 2.
SD Codified L § 58-5-157 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 05 - Organization And General Powers Of Insurers|Section 58-5-157 - Investment of funds in securities.

58-5-157. Investment of funds in securities.In addition to any investment permitted pursuant to §58-5-156, a qualified education loan insurer may also invest any amount in common stock, preferred stock, debt obligations, and other securities, including without limitation, membership in a limited liability company, of any subsidiary engaged or organized to engage in any of the following:(1)The principal or beneficial ownership and management of assets authorized as investments for the qualified education loan insurer under §58-5-156; or(2)The origination, administration, and servicing of education loans, the provision of services to any school, lender, student, and borrower and otherwise providing services for any educational purposes. Source: SL 1998, ch 287, §4.
SD Codified L § 58-5-158 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 05 - Organization And General Powers Of Insurers|Section 58-5-158 - Subsidiary investment to be counted as admitted asset.

58-5-158. Subsidiary investment to be counted as admitted asset.Notwithstanding §58-4-43 or any other provision of Title 58, a qualified education loan insurer's subsidiary investment permitted under §58-5-157 shall be counted fully as an admitted asset on the qualified education loan insurer's balance sheet and may not be disregarded as an admitted asset by the director of the Division of Insurance in enforcing the provisions of §§58-4-39 to 58-4-43, inclusive, and chapter 58-29B, and any rule promulgated to implement such provisions. Source: SL 1998, ch 287, §5.
SD Codified L § 58-5-159 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 05 - Organization And General Powers Of Insurers|Section 58-5-159 - Applicability of federal Bankruptcy Code.

58-5-159. Applicability of federal Bankruptcy Code.Notwithstanding the other provisions of chapter 58-29B, for the purposes of determining:(1)If a qualified education loan insurer has, in any transaction involving the transfer of any education loans or other assets, sold such education loans or other assets or pledged such education loans or other assets to secure indebtedness of the qualified education loan insurer; and(2)If a wholly owned subsidiary of a qualified education loan insurer shall be treated as a separate entity, distinct from the qualified education loan insurer, or the subsidiary's assets and liabilities shall be consolidated with the assets and liabilities of the qualified education loan insurer;chapter 58-29B shall be construed as referring to available and analogous case law under the federal Bankruptcy Code for making determinations in any receivership, rehabilitation, or liquidation of the qualified education loan insurer. Source: SL 1998, ch 287, §6.
SD Codified L § 58-5-160 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 05 - Organization And General Powers Of Insurers|Section 58-5-160 - Additional exemptions or exemption authority.

58-5-160. Additional exemptions or exemption authority.The director of the Division of Insurance may promulgate rules, pursuant to chapter 1-26, to provide any qualified education loan insurer with additional exemptions from the provisions of Title 58 or to provide additional investment authority. Source: SL 1998, ch 287, §7.
SD Codified L § 58-5-161 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 05 - Organization And General Powers Of Insurers|Section 58-5-161 - Definitions for §§ 58-5-161 through 58-5-171.

  58-5-161  .  Definitions for §§  58-5-161   through   58-5-171  .   Terms used in §§58-5-161 through 58-5-171 mean:   (1) "Corporate Governance Annual Disclosure," a confidential report filed by an insurer or insurance group in accordance with §  58-5-163  ;   (2) "Insurance group," those insurers and affiliates included within an insurance holding company system as defined in chapter   58-5A  .     Source:  SL 2020, ch 212, § 1.
SD Codified L § 58-5-162 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 05 - Organization And General Powers Of Insurers|Section 58-5-162 - Corporate governance disclosure--Requirements and limitations.

  58-5-162  .  Corporate governance disclosure--Requirements and limitations.   Nothing in §§  58-5-161   to   58-5-171  , inclusive, may be construed to prescribe or impose corporate governance standards and internal procedures beyond that which is required under applicable state corporate law.   Nothing in §§  58-5-161   to   58-5-171  , inclusive, may be construed to limit the director’s authority, or the rights or obligations of third parties, under chapter   58-3  . The requirements in §§  58-5-161   to   58-5-171  , inclusive, apply to all insurers domiciled in this state.     Source:  SL 2020, ch 212, § 2.
SD Codified L § 58-5-163 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 05 - Organization And General Powers Of Insurers|Section 58-5-163 - Submission of disclosure--Requirement.

  58-5-163  .  Submission of disclosure--Requirement.   An insurer, or the insurance group of which the insurer is a member, shall submit a corporate governance annual disclosure containing the information described in §§  58-5-161   to 58-5-171, inclusive, to the director no later than June first of each calendar year. If the insurer is a member of an insurance group, the insurer shall submit the report   required by this section to the director, commissioner, superintendent, or other official who is the lead state for the insurance group in accordance with the laws of the lead state. The disclosure must be signed by the insurer or insurance group's chief executive officer or corporate secretary attesting to the best of that individual's belief and knowledge that the insurer has implemented the corporate governance practices and that a copy of the disclosure has been provided to the insurer's board of directors or the appropriate committee thereof.   Notwithstanding the foregoing, the director may request any insurer to submit the disclosure.     Source:  SL 2020, ch 212, § 3.
SD Codified L § 58-5-164 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 05 - Organization And General Powers Of Insurers|Section 58-5-164 - Information provided with disclosure--Appropriate corporate level.

  58-5-164  .  Information provided with disclosure--Appropriate corporate level.   For purposes of completing the corporate governance annual disclosure, the insurer or insurance group may provide information regarding corporate governance at the ultimate controlling parent level, an intermediate holding company level, the individual legal entity level, or any combination of the levels depending upon how the insurer or insurance group has structured its system of corporate governance.   An insurer or insurance group shall make the disclosures at the level where the insurer's or insurance group's:   (1) Risk appetite is determined;   (2) Earnings, capital, liquidity, operations, and reputation of the insurer are collectively overseen and the supervision of those factors is coordinated and exercised; or   (3) Legal liability for failure of general corporate governance duties is placed.   When an insurer or insurance group determines the level of reporting based on the criteria under this section, the insurer or insurance group shall indicate which of the criteria under this section was used to determine the level of reporting and explain any subsequent change in the level of reporting. Any additional request for information by the director shall be made through the lead state.     Source:  SL 2020, ch 212, § 4.
SD Codified L § 58-5-165 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 05 - Organization And General Powers Of Insurers|Section 58-5-165 - Duplicate information not required--Documentation.

  58-5-165  .  Duplicate information not required--Documentation.   An insurer who provides information substantially similar to the information required in §§  58-5-161   to 58-5-171, inclusive, in other documents provided to the   director is not required to duplicate information in the corporate governance annual disclosure if the insurer reports where the information is included.     Source:  SL 2020, ch 212, § 5.
SD Codified L § 58-5-166 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 05 - Organization And General Powers Of Insurers|Section 58-5-166 - Content and maintenance--Promulgation of Rules.

  58-5-166  .  Content and maintenance--Promulgation of Rules.   The insurer or insurance group has discretion over the responses to the corporate governance annual disclosure inquiries if the disclosure contains the material information necessary to permit the director to gain an understanding of the insurer's or group's corporate governance structure, policies, and practices. The director may request additional information the director determines is material and necessary to provide a clear understanding of the corporate governance policies and the reporting or information system or controls implementing those policies. Documentation and supporting information must be maintained and made available upon examination by the division or upon a request of the director.   The corporate governance annual disclosure must be prepared consistent with applicable administrative rules which may be promulgated by the division pursuant to chapter   1-26   regarding the contents and filing of the disclosure.     Source:  SL 2020, ch 212, § 6.
SD Codified L § 58-5-167 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 05 - Organization And General Powers Of Insurers|Section 58-5-167 - Disclosure documents and other information--Confidential and privileged--Exempt from public record--Permitted uses.

  58-5-167  .  Disclosure documents and other information--Confidential and privileged--Exempt from public record--Permitted uses.   Any document, materials, or other information, including the corporate governance annual disclosure, in the possession or control of the division that is obtained by, created by, or disclosed to the director or any other person under the provisions of §§  58-5-161   to 58-5-171, inclusive, is recognized by this state as being proprietary and to contain trade secrets. The document, materials, or other information is confidential and privileged, is not a record open to public inspection under chapter   1-27  , is not subject to subpoena, and is not discoverable or admissible in evidence in any private civil action.    The director may use corporate governance annual disclosure documents, materials, or other information in the furtherance of any regulatory or legal action brought as a part of the director's official duties. The director may not otherwise make the document, materials, or other information public without the prior written consent of the insurer.   Nothing in this section may be construed to require written consent of the insurer before the director may share or receive any confidential document, materials, or other   related information pursuant to §58-5-169 to assist in the performance of the director's regular duties.     Source:  SL 2020, ch 212, § 7.
SD Codified L § 58-5-168 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 05 - Organization And General Powers Of Insurers|Section 58-5-168 - Disclosure documents and other materials--Testimony prohibited.

  58-5-168  .  Disclosure documents and other materials--Testimony prohibited.   No person, including the director, who received a document, materials, or other information related to the corporate governance annual disclosure, through examination or otherwise, while acting under the authority of the director, or with whom the document, materials, or other information is shared pursuant to the provisions of §§  58-5-161   to 58-5-171, inclusive, may be permitted or required to testify in any private civil action concerning any confidential document, materials, or information subject to the provisions of §§  58-5-161   to 58-5-171, inclusive.     Source:  SL 2020, ch 212, § 8.
SD Codified L § 58-5-169 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 05 - Organization And General Powers Of Insurers|Section 58-5-169 - Disclosure documents and other materials--Information sharing and receiving.

  58-5-169  .  Disclosure documents and other materials--Information sharing and receiving.   In order to assist in the performance of the director's regulatory duties, the director may:   (1) Share any document, materials, or other information related to the corporate governance annual disclosure, including any confidential and privileged document, materials, or information, including any proprietary and trade secret document and materials, with other state, federal, and international financial regulatory agencies, including members of any supervisory college as defined in chapter   58-5A  , with the National Association of Insurance Commissioners, and with third party consultants pursuant to §§  58-5-161   to 58-5-171, inclusive, provided that the recipient agrees in writing to maintain the confidentiality and privileged status of the document, materials, or other information related to the disclosure and verifies in writing the legal authority to maintain confidentiality; and   (2) Receive any document, materials, or other information related to the corporate governance annual disclosure, including any otherwise confidential and privileged document, materials, or information, including proprietary and trade-secret information or documents from regulatory officials of other state, federal, and international financial regulatory agencies, including members of any supervisory college as defined in chapter   58-5A  , and from the National Association of Insurance Commissioners. The director shall maintain as confidential or privileged any   document, materials, or information received with notice or the understanding that it is confidential or privileged under the laws of the jurisdiction that is the source of the document, materials, or information.   No waiver of any applicable privilege or claim of confidentiality in any document, proprietary and trade-secret materials, or other information related to the corporate governance annual disclosure may occur as a result of disclosure of any information or documents related to the disclosure to the director under this section or as a result of sharing under this section by the director.     Source:  SL 2020, ch 212, § 9.
SD Codified L § 58-5-170 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 05 - Organization And General Powers Of Insurers|Section 58-5-170 - Disclosure review--Expert assistance.

  58-5-170  .  Disclosure review--Expert assistance.   The director may retain, at the insurer's expense, any third-party consultant, including attorneys, actuaries, accountants, and other experts not otherwise a part of the director's staff as may be reasonably necessary to assist the director in reviewing the corporate governance annual disclosure and related information or the insurer's compliance with the provisions of §§  58-5-161   to 58-5-171, inclusive. Any person retained shall be under the direction and control of the director and shall act in an advisory capacity. The National Association of Insurance Commissioners and third-party consultants is subject to the same confidentiality standards and requirements as the director. As part of the retention process, a third-party consultant shall verify to the director, with notice to the insurer, that the third-party consultant is free of a conflict of interest and that the consultant has internal procedures in place to monitor compliance with a conflict and to comply with the confidentiality standards and requirements of §§  58-5-161   to 58-5-171, inclusive.     Source:  SL 2020, ch 212, § 10.