reglab/housing_qa huggingface dataset:
SD Codified L § 58-6-15 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 06 - Authority To Transact Insurance In State|Section 58-6-15 - Use of deceptively similar name by life insurer prohibited for ten years.

58-6-15. Use of deceptively similar name by life insurer prohibited for ten years.No life insurer shall be authorized to transact insurance in this state which has or uses a name deceptively similar to that of another insurer authorized to transact insurance in this state within the preceding ten years if life insurance policies originally issued by such other insurer are still outstanding in this state. Source: SL 1966, ch 111, ch 3, §8 (2).
SD Codified L § 58-6-16 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 06 - Authority To Transact Insurance In State|Section 58-6-16 - Use of name deceptively similar to name of foreign insurer prohibited.

58-6-16. Use of name deceptively similar to name of foreign insurer prohibited.No insurer shall hereafter be formed or newly authorized to transact insurance in this state which has or uses a name the same as or deceptively similar to the name of any foreign insurer doing business elsewhere than in this state if such foreign insurer has within the last preceding twelve months signified its intention to secure incorporation in this state under such name, or do business as a foreign insurer in this state under such name by filing notice of such intention with the director unless the written consent to the use of such name or deceptively similar name has been given by such foreign insurer. Source: SL 1966, ch 111, ch 3, §8 (3).
SD Codified L § 58-6-17 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 06 - Authority To Transact Insurance In State|Section 58-6-17 - Name tending to deceive or mislead as to type of organization of insurer prohibited.

58-6-17. Name tending to deceive or mislead as to type of organization of insurer prohibited.No insurer shall be authorized to transact insurance in this state which has or uses a name which tends to deceive or mislead as to the type of organization of the insurer. Source: SL 1966, ch 111, ch 3, §8 (4).
SD Codified L § 58-6-18 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 06 - Authority To Transact Insurance In State|Section 58-6-18 - Prevention of confusing similarity of names by director.

58-6-18. Prevention of confusing similarity of names by director.In case of conflict of names hereafter between two insurers, or a conflict otherwise prohibited under §§58-6-14 to 58-6-17, inclusive, the director may require, as a condition to the issuance of an original certificate of authority to an applicant insurer, the insurer to use in this state such supplementation or modification of its name or such business name as may reasonably be necessary to avoid the conflict. No such name, supplementation, or modification shall contain the principal identifying factor of the name of any other insurer already authorized to transact insurance in this state. Source: SL 1966, ch 111, ch 3, §8 (5).
SD Codified L § 58-6-19 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 06 - Authority To Transact Insurance In State|Section 58-6-19 - Combination of insuring power of one insurer--Exception.

58-6-19. Combination of insuring power of one insurer--Exception.An insurer which otherwise qualifies therefor may be authorized to transact any one kind or combination of kinds of insurance as defined in this title except as provided by §§58-6-20 to 58-6-22, inclusive. Source: SL 1966, ch 111, ch 3, §9.
SD Codified L § 58-6-20 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 06 - Authority To Transact Insurance In State|Section 58-6-20 - Life insurer--Kinds of business authorized, exception.

58-6-20. Life insurer--Kinds of business authorized, exception.An insurer authorized to engage in the business of life insurance may also grant annuities, but shall not be authorized to engage in any other kind of insurance business except health; except, that the director shall, if the insurer otherwise qualifies therefor, continue so to authorize any life insurer which immediately prior to July 1, 1966, was lawfully authorized to transact in this state a kind or kinds of insurance in addition to life and health insurance and annuity business. Source: SL 1966, ch 111, ch 3, §9 (1).
SD Codified L § 58-6-21 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 06 - Authority To Transact Insurance In State|Section 58-6-21 - Reciprocal insurer--Transaction of life or title insurance prohibited.

58-6-21. Reciprocal insurer--Transaction of life or title insurance prohibited.A reciprocal insurer may not transact life or title insurance. Source: SL 1966, ch 111, ch 3, §9 (2); SL 1996, ch 290.
SD Codified L § 58-6-22 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 06 - Authority To Transact Insurance In State|Section 58-6-22 - Title insurer--Transaction of other insurance prohibited.

58-6-22. Title insurer--Transaction of other insurance prohibited.A title insurer shall not transact any other kind of insurance. Source: SL 1966, ch 111, ch 3, §9 (3).
SD Codified L § 58-6-23 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 06 - Authority To Transact Insurance In State|Section 58-6-23 - Paid-in capital and surplus requirements for certificate of authority.

58-6-23. Paid-in capital and surplus requirements for certificate of authority.To qualify for authority to transact any one kind of insurance or combination of kinds of insurance as shown below, a foreign insurer, or a domestic stock insurer applying for its original certificate of authority in this state, or any insurer reapplying for a certificate of authority in this state after having withdrawn from this state for any cause, shall possess and thereafter maintain unimpaired basic paid-in capital stock, if a stock insurer, or unimpaired basic surplus, if a foreign mutual insurer or foreign reciprocal insurer, and shall possess when first so authorized additional funds in surplus as follows:  Kind or Kinds ofInsuranceBasic Capitalor Basic SurplusAdditionalSurplusLife   Domestic stock insurers $200,000$300,000 Foreign insurers 300,000350,000Health   Domestic stock insurers 200,000300,000 Foreign insurers 300,000350,000Life and Health   Domestic stock insurers 400,000400,000 Foreign insurers 400,000525,000Property 200,000300,000Casualty   Without Workers' Compensation 200,000300,000 With Workers' Compensation 300,000350,000Marine and Transportation 200,000300,000Surety 200,000300,000Title 200,000300,000Multiple lines 400,000400,000 Source: SL 1966, ch 111, ch 3, §10 (1); SL 1967, ch 129, §1.
SD Codified L § 58-6-24 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 06 - Authority To Transact Insurance In State|Section 58-6-24 - Determination of capital and surplus requirements for certificate of authority.

58-6-24. Determination of capital and surplus requirements for certificate of authority.Capital and surplus requirements of §58-6-23 are based upon all kinds of insurance transacted by the insurer in any and all areas in which it operates or proposes to operate, whether or not only a portion of such kinds are to be transacted in this state. Source: SL 1966, ch 111, ch 3, §10 (2).
SD Codified L § 58-6-25 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 06 - Authority To Transact Insurance In State|Section 58-6-25 - Additional types of insurance--Request for authority to transact within three years after issuance of initial certificate--Basic surplus or additional surplus required.

58-6-25. Additional types of insurance--Request for authority to transact within three years after issuance of initial certificate--Basic surplus or additional surplus required.If within three years after date of its initial certificate of authority in this state such an insurer requests authority to transact an additional kind or kinds of insurance, it shall not be so authorized unless it then possesses basic surplus or additional surplus in such an amount as would be required under §58-6-23 for an original certificate of authority covering all the kinds of insurance the insurer then proposes to transact. Source: SL 1966, ch 111, ch 3, §10 (3).
SD Codified L § 58-6-26 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 06 - Authority To Transact Insurance In State|Section 58-6-26 - Surplus to qualify to transact one or more kinds of insurance by domestic mutual and reciprocal insurers--Laws governing.

58-6-26. Surplus to qualify to transact one or more kinds of insurance by domestic mutual and reciprocal insurers--Laws governing.As to surplus required for qualification to transact one or more kinds of insurance and thereafter to be maintained, domestic mutual insurers formed after June 30, 1966, are governed by chapters 58-5 and 58-35 and domestic reciprocal insurers formed after June 30, 1966, are governed by chapter 58-34. Source: SL 1966, ch 111, ch 3, §10 (4).
SD Codified L § 58-6-27 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 06 - Authority To Transact Insurance In State|Section 58-6-27 - Continuation of authority of insurer holding prior certificate--Maintenance of capital stock or surplus requirements.

58-6-27. Continuation of authority of insurer holding prior certificate--Maintenance of capital stock or surplus requirements.A domestic or foreign insurer holding a valid certificate of authority to transact insurance in this state immediately prior to July 1, 1966, may continue to transact the same kinds of insurance as permitted by such certificate of authority by maintaining thereafter unimpaired not less than the same amount of paid-in capital stock, if a stock insurer, or not less than the same amount of surplus, if a mutual or reciprocal insurer, as required under the laws of this state for such authority in force immediately prior to July 1, 1966, and as if such laws had continued in force. Once a stock company has accumulated the capital and surplus to exceed the minimum capital and surplus for the line authorized pursuant to §58-6-23, then §58-6-23 shall apply. Once a mutual company has accumulated the capital and surplus to exceed the minimum capital and surplus for the line authorized pursuant to §58-5-21, then §58-5-21 shall apply. Source: SL 1966, ch 111, ch 3, §11(1); SL 1988, ch 390.
SD Codified L § 58-6-28 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 06 - Authority To Transact Insurance In State|Section 58-6-28 - Additional kinds of insurance authorized for insurer holding prior certificate--Capital and surplus requirements.

58-6-28. Additional kinds of insurance authorized for insurer holding prior certificate--Capital and surplus requirements.An insurer described by §58-6-27 shall not hereafter be granted authority to transact any other or additional kind of insurance unless it then fully complies with the requirements as to capital and surplus, as applied to all the kinds of insurance it then proposes to transact, as provided under §§58-6-23 to 58-6-26, inclusive, as to new domestic insurers. Source: SL 1966, ch 111, ch 3, §11 (2).
SD Codified L § 58-6-29 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 06 - Authority To Transact Insurance In State|Section 58-6-29 - Annuities--Granting by life insurer without additional capital or surplus.

58-6-29. Annuities--Granting by life insurer without additional capital or surplus.A life insurer may also grant annuities without additional capital or additional surplus. Source: SL 1966, ch 111, ch 3, §12 (1).
SD Codified L § 58-6-30 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 06 - Authority To Transact Insurance In State|Section 58-6-30 - Health insurer issuing insurance against congenital defects without additional capital or surplus.

58-6-30. Health insurer issuing insurance against congenital defects without additional capital or surplus.A health insurer may also issue insurance against congenital defects without additional capital or additional surplus. Source: SL 1966, ch 111, ch 3, §12 (2).
SD Codified L § 58-6-31 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 06 - Authority To Transact Insurance In State|Section 58-6-31 - Casualty insurer transacting health insurance without additional capital or surplus.

58-6-31. Casualty insurer transacting health insurance without additional capital or surplus.A casualty insurer may also be authorized to transact health insurance without additional capital or additional surplus. Source: SL 1966, ch 111, ch 3, §12 (3).
SD Codified L § 58-6-32 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 06 - Authority To Transact Insurance In State|Section 58-6-32 - Property insurer including additional kinds of insurance without additional capital or surplus.

58-6-32. Property insurer including additional kinds of insurance without additional capital or surplus.A property insurer may without additional capital or additional surplus include such amount and kind of insurance against legal liability for injury, damage, or loss to the person or property of others, and for medical, hospital, and surgical expense related to such injury, as the director deems to be reasonably incidental to insurance of real property against fire and other perils under policies covering farm properties, or residential properties designed for occupancy by not more than four families, with or without incidental office, professional, private school, or studio occupancy by an insured, whether or not the premium or rate charged for certain perils so covered is specified in the policy. No insurer authorized as to property insurance only may pursuant to this section retain risk as to any one subject of insurance as to hazards, other than property insurance hazards, in an amount exceeding ten percent of its surplus to policyholders. Source: SL 1966, ch 111, ch 3, §12 (4); SL 2018, ch 278, §2.
SD Codified L § 58-6-33 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 06 - Authority To Transact Insurance In State|Section 58-6-33 - Deposit by all insurers--Exceptions.

58-6-33. Deposit by all insurers--Exceptions.Sections 58-6-34 and 58-6-35 shall apply as to all insurers other than title insurers, existing mutual casualty insurers writing a single line of insurance, and mutual assessment life insurance. Source: SL 1966, ch 111, ch 3, §13 (1).
SD Codified L § 58-6-34 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 06 - Authority To Transact Insurance In State|Section 58-6-34 - Deposits through director--Purpose--Amounts required--Deposits in other states in lieu of deposit with director.

58-6-34. Deposits through director--Purpose--Amounts required--Deposits in other states in lieu of deposit with director.The director may not authorize any insurer to transact insurance in this state unless it makes and thereafter maintains in trust through the director for the protection of all its policyholders in the United States, a deposit of cash or securities eligible for deposit under the provisions of this title relating to deposits and administration of deposits in an amount of two hundred thousand dollars or more, except that:(1)As to foreign insurers, in lieu of the deposit, the director shall accept the certificate in proper form of the public official having supervision over insurers in any other state to the effect that a like deposit or part thereof by the insurer is being maintained in public custody or control pursuant to law in the state in trust for the protection of the insurer's policyholders in the United States.(2)As to alien insurers, in lieu of the deposit, the director may accept evidence that the insurer maintains within the United States by way of trust deposits with public depositories, or in trust institutions approved by the director, assets available for discharge of its United States insurance obligations. The assets shall be an amount not less than the outstanding liabilities of the insurer arising out of its insurance transactions in the United States together with a surplus equal to the greater of the following sums, the deposit required by this title to be made by a foreign insurer transacting like kinds of insurance, or three hundred thousand dollars. Source: SL 1966, ch 111, ch 3, §13 (2); SL 1994, ch 374.
SD Codified L § 58-6-35 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 06 - Authority To Transact Insurance In State|Section 58-6-35 - Deposits of foreign or alien insurers in another state--Quality of cash or securities.

58-6-35. Deposits of foreign or alien insurers in another state--Quality of cash or securities.Deposits of foreign insurers or deposits of alien insurers under subdivision 58-6-34(2) in another state shall be in cash or securities of a quality comparable to those eligible for deposit in this state by domestic insurers. Source: SL 1966, ch 111, ch 3, §13 (3).
SD Codified L § 58-6-36 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 06 - Authority To Transact Insurance In State|Section 58-6-36 - Deposit of title insurer--Amount required.

58-6-36. Deposit of title insurer--Amount required.No title insurer shall be authorized to transact business in this state unless it deposits and maintains on deposit in this state through the director, cash or securities eligible for deposit as set forth in the chapter hereof relating to deposits and administration of deposits, in the amount of one hundred thousand dollars; except, that the deposit of a domestic title insurer which was lawfully transacting such business in this state under laws in force immediately prior to July 1, 1966, shall be in an amount determined as follows:(1)Twenty-five thousand dollars, plus(2)Twenty-five hundred dollars for each five thousand or terminal fraction thereof of population in excess of one hundred thousand of aggregate population of those counties of South Dakota in which the insurer transacts business, if the insurer transacts business in more than one county of South Dakota;but in no event shall a deposit in excess of one hundred thousand dollars be so required. For the purpose of this provision, population shall be based upon the most recent official federal census. Source: SL 1966, ch 111, ch 3, §14 (1).
SD Codified L § 58-6-37 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 06 - Authority To Transact Insurance In State|Section 58-6-37 - Deposit of title insurer as guaranty fund--Purpose.

58-6-37. Deposit of title insurer as guaranty fund--Purpose.The deposit shall be known as a "guaranty fund," and shall be held as security for the faithful performance by the insurer of all its undertakings and liabilities under its title policies or other guarantees of title to property, but shall not be subject to any other liabilities of the insurer. Source: SL 1966, ch 111, ch 3, §14 (2).
SD Codified L § 58-6-38 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 06 - Authority To Transact Insurance In State|Section 58-6-38 - Application for initial certificate of authority--Documents accompanying.

58-6-38. Application for initial certificate of authority--Documents accompanying.Every insurer applying for an initial certificate of authority shall file the following documents with the director:(1)A certified copy of its articles of incorporation with all amendments;(2)A certified copy of its bylaws with all amendments;(3)A copy of its annual statement as of December thirty-first last preceding;(4)A copy of report of last examination, if any, made of the insurer, certified by the insurance supervisory official of the state of domicile of a foreign insurer or the state of entry into the United States of an alien insurer;(5)If a foreign or alien insurer, a certificate of the public official having supervision of insurance in the state or country of domicile, or state of entry into the United States, of such insurer, showing that it is authorized to transact the kinds of insurance proposed to be transacted in South Dakota;(6)If an alien insurer, a copy of the appointment and authority of its United States manager;(7)A certificate of deposit pursuant to §§58-6-34 and 58-6-35; and(8)Such other information and documents as the director deems necessary for the protection of policyholders or to assure compliance with this title. Source: SL 1966, ch 111, ch 3, §15.
SD Codified L § 58-6-39 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 06 - Authority To Transact Insurance In State|Section 58-6-39 - Service of process through director.

58-6-39. Service of process through director.Each insurer applying for authority to engage in the insurance business in this state shall appoint the director, and his successors in office, as its attorney to receive service of legal process issued against it in South Dakota. The appointment shall be made on a form designated and furnished by the director. The appointment shall be irrevocable, shall bind the insurer and any successor in interest to the assets or liabilities of the insurer, and shall remain in effect as long as there is in force in South Dakota any contract made by the insurer or obligations arising therefrom. Source: SL 1966, ch 111, ch 3, §26.
SD Codified L § 58-6-40 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 06 - Authority To Transact Insurance In State|Section 58-6-40 - Time for approval or disapproval of original certificate--Extension--Failure to disapprove deemed approval.

58-6-40. Time for approval or disapproval of original certificate--Extension--Failure to disapprove deemed approval.Upon the filing and completion of an application for an original certificate of authority, the director shall have sixty days in which to approve the application by issuing an appropriate certificate of authority or to disapprove the application by issuing an order setting forth the grounds for such disapproval. The director may extend such sixty-day period for an additional sixty days by notifying the applicant in writing of such extension. If the application is not approved or disapproved within the time period as set forth above, but in no event to exceed one hundred twenty days, the application shall be deemed to be approved and the director shall thereupon issue the appropriate certificate of authority. The waiting period shall commence as of the date all information and documents required by the director are received. Source: SL 1966, ch 111, ch 3, §16 (1).
SD Codified L § 58-6-41 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 06 - Authority To Transact Insurance In State|Section 58-6-41 - Kinds of insurance specified in certificate--Limitations within class.

58-6-41. Kinds of insurance specified in certificate--Limitations within class.The certificate, if issued, shall specify the kinds of insurance the insurer is authorized to transact in South Dakota. At the insurer's request, the director may issue a certificate of authority limited to particular types of insurance or insurance coverages within the scope of a kind of insurance as defined in this title. Source: SL 1966, ch 111, ch 3, §16 (2).
SD Codified L § 58-6-42 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 06 - Authority To Transact Insurance In State|Section 58-6-42 - Annual reissuance of certificate not required--Annual renewal fee--Expiration of certificate.

58-6-42. Annual reissuance of certificate not required--Annual renewal fee--Expiration of certificate.The certificate of authority issued by the director to an insurer shall not require annual reissuance but shall remain in force as long as the insurer pays the annual renewal fee provided in §58-2-29 on or before the thirtieth day of April of each year and as long as the insurer continues to meet the other requirements of this title, unless the license is otherwise revoked, suspended, or withdrawn. Source: SL 1966, ch 111, ch 3, §17; SL 1967, ch 129, §2.