reglab/housing_qa huggingface dataset:
SD Codified L § 58-6A-3.11 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 06A - Risk Retention Groups|Section 58-6A-3.11 - Notice to director of noncompliance with standards.

58-6A-3.11. Notice to director of noncompliance with standards.If the manager, president, or chief executive officer of the risk retention group becomes aware of any material noncompliance with any standards described in §§58-6A-3.1 to 58-6A-3.11, inclusive, the manager, president, or officer shall promptly notify the domestic regulator in writing. Source: SL 2016, ch 232, §13.
SD Codified L § 58-6A-3.12 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 06A - Risk Retention Groups|Section 58-6A-3.12 - Application of §§ 58-6A-1 to 58-6A-3.11.

58-6A-3.12. Application of §§58-6A-1 to 58-6A-3.11.Any retention group licensed before July 1, 2016, shall be in compliance with §§58-6A-1 to 58-6A-3.11, inclusive, by July 1, 2017. Any risk retention group licensed after June 30, 2016, shall be in compliance with §§58-6A-1 to 58-6A-3.11, inclusive, at licensure. Source: SL 2016, ch 232, §1.
SD Codified L § 58-6A-4 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 06A - Risk Retention Groups|Section 58-6A-4 - Financial information submitted to director.

58-6A-4. Financial information submitted to director.Any risk retention group doing business in this state shall submit to the director:(1)A copy of the group's financial statement submitted to its state of domicile, which shall be certified by an independent public accountant and contain a statement of opinion on loss and loss adjustment expense reserves made by a member of the American Academy of Actuaries or a qualified loss reserve specialist under criteria established by the National Association of Insurance Commissioners;(2)A copy of each examination of the risk retention group as certified by the director or public official conducting the examination;(3)Upon request by the director, a copy of any audit performed with respect to the risk retention group; and(4)Such information as may be required to verify its continuing qualification as a risk retention group under this chapter. Source: SL 1987, ch 372, §4.
SD Codified L § 58-6A-5 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 06A - Risk Retention Groups|Section 58-6A-5 - Taxation of premiums--Payment by insurance producers or brokers--Payment by risk retention group--Report of premiums.

58-6A-5. Taxation of premiums--Payment by insurance producers or brokers--Payment by risk retention group--Report of premiums.All premiums paid for coverages within this state to risk retention groups are subject to taxation at the same rate and subject to the same interest, fines, and penalties for nonpayment as that applicable to foreign admitted insurers. To the extent insurance producers are utilized, they shall report and pay the taxes for the premiums for risks which they have placed with or on behalf of a risk retention group not chartered in this state. To the extent insurance producers are not utilized or fail to pay the tax, each risk retention group shall pay the tax for risks insured within this state. Further, each risk retention group shall report all premiums paid to it for risks insured within this state. Source: SL 1987, ch 372, §5; SL 2001, ch 286, §88.
SD Codified L § 58-6A-5.1 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 06A - Risk Retention Groups|Section 58-6A-5.1 - Rate of taxation on premiums--Interest, fines and penalties--Payment.

58-6A-5.1. Rate of taxation on premiums--Interest, fines and penalties--Payment.The premium tax imposed by chapter 10-44 and taxes on premiums paid for coverage of risks resident or located in this state by a purchasing group or any member of a purchasing group shall be imposed at the same rate and subject to the same interest, fines, and penalties as that applicable to premium taxes and taxes on premiums paid for similar coverage from a similar insurance source by other insureds. The tax may be paid first by such insurance source or the insurance producer for the purchasing group or by the purchasing group or by each member of a purchasing group. Source: SL 1988, ch 392, §1; SL 2001, ch 286, §89.
SD Codified L § 58-6A-6 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 06A - Risk Retention Groups|Section 58-6A-6 - Compliance with Unfair Trade Practices Act.

58-6A-6. Compliance with Unfair Trade Practices Act.Any risk retention group, its insurance producers, and representatives shall comply with the Unfair Trade Practices Act of this state, §§58-33-66 to 58-33-69, inclusive. Source: SL 1987, ch 372, §6; SL 2001, ch 286, §90.
SD Codified L § 58-6A-7 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 06A - Risk Retention Groups|Section 58-6A-7 - Compliance with laws regarding deceptive, false, or fraudulent acts or practices--Injunction.

58-6A-7. Compliance with laws regarding deceptive, false, or fraudulent acts or practices--Injunction.Any risk retention group shall comply with the laws of this state, chapter 58-33, regarding deceptive, false, or fraudulent acts or practices. However, if the director seeks an injunction regarding such conduct, the injunction shall be obtained from a court of competent jurisdiction. Source: SL 1987, ch 372, §7.
SD Codified L § 58-6A-8 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 06A - Risk Retention Groups|Section 58-6A-8 - Examination by director.

58-6A-8. Examination by director.Any risk retention group shall submit to an examination by the director to determine its financial condition if the director of the jurisdiction in which the group is chartered has not initiated an examination or does not initiate an examination within sixty days after a request by the director of this state. Any such examination shall be coordinated to avoid unjustified repetition and conducted in an expeditious manner in accordance with the National Association of Insurance Commissioners' Examiners Handbook. Source: SL 1987, ch 372, §8.
SD Codified L § 58-6A-9 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 06A - Risk Retention Groups|Section 58-6A-9 - Notice contained on policy--Contents.

58-6A-9. Notice contained on policy--Contents.Any policy issued by any person, firm, association, or corporation licensed pursuant to the provisions of chapter 58-6A, on business placed with risk retention groups or written through a purchasing group, shall inform each prospective insured of the provisions of the notice and shall contain in ten-point type on the front page and the declaration page, the following notice:NOTICEThis policy is issued by your risk retention group. Your risk retention group may not be subject to all of the insurance laws and regulations of your state. State insurance insolvency guaranty funds are not available for your risk retention group. Source: SL 1987, ch 372, §9; SL 1988, ch 392, §2.
SD Codified L § 58-6A-10 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 06A - Risk Retention Groups|Section 58-6A-10 - Prohibited acts by risk retention group.

58-6A-10. Prohibited acts by risk retention group.The following acts by a risk retention group are hereby prohibited:(1)The solicitation or sale of insurance by a risk retention group to any person who is not eligible for membership in such group; and(2)The solicitation or sale of insurance by, or operation of, a risk retention group that is in a hazardous financial condition or is financially impaired. Source: SL 1987, ch 372, §10.
SD Codified L § 58-6A-11 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 06A - Risk Retention Groups|Section 58-6A-11 - Insurance company as member or owner.

58-6A-11. Insurance company as member or owner.No risk retention group shall be allowed to do business in this state if an insurance company is directly or indirectly a member or owner of such risk retention group, other than in the case of a risk retention group all of whose members are insurance companies. Source: SL 1987, ch 372, §11.
SD Codified L § 58-6A-12 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 06A - Risk Retention Groups|Section 58-6A-12 - Compliance with voluntary dissolution or delinquency order by group not chartered if financially impaired.

58-6A-12. Compliance with voluntary dissolution or delinquency order by group not chartered if financially impaired.A risk retention group not chartered in this state and doing business in this state shall comply with a lawful order issued in a voluntary dissolution proceeding or in a delinquency proceeding commenced by a state insurance director if there has been a finding of financial impairment after an examination under this chapter. Source: SL 1987, ch 372, §12.
SD Codified L § 58-6A-13 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 06A - Risk Retention Groups|Section 58-6A-13 - Financial contribution to or benefit from insurance insolvency guaranty fund prohibited.

58-6A-13. Financial contribution to or benefit from insurance insolvency guaranty fund prohibited.No risk retention group may be permitted to join or contribute financially to any insurance insolvency guaranty fund, or similar mechanism, in this state, nor shall any risk retention group, or its insureds, receive any benefit from any such fund for claims arising out of the operations of such risk retention group. Source: SL 1987, ch 372, §13.
SD Codified L § 58-6A-14 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 06A - Risk Retention Groups|Section 58-6A-14 - Countersignature on policy not required.

58-6A-14. Countersignature on policy not required. A policy of insurance issued to a risk retention group or any member of that group is not required to be countersigned. Source: SL 1987, ch 372, §14; SL 2021, ch 210, § 3.
SD Codified L § 58-6A-15 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 06A - Risk Retention Groups|Section 58-6A-15 - Prohibited insurance coverage.

58-6A-15. Prohibited insurance coverage.A risk retention group may not offer insurance coverage prohibited under the insurance laws of this state or declared unlawful by the Supreme Court of this state. Source: SL 1987, ch 372, §15.
SD Codified L § 58-6A-16.1 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 06A - Risk Retention Groups|Section 58-6A-16.1 - Exemptions for purchasing group and insurer in regard to liability insurance--Subject to other laws.

58-6A-16.1. Exemptions for purchasing group and insurer in regard to liability insurance--Subject to other laws.A purchasing group and its insurer or insurers are subject to all applicable laws of this state, except that a purchasing group and its insurer or insurers are exempt, in regard to liability insurance for the purchasing group, from any law that would:(1)Prohibit the establishment of a purchasing group;(2)Make it unlawful for an insurer to provide or offer to provide insurance on a basis providing advantages to a purchasing group or its members based on their loss and expense experience, which coverage is not afforded to other persons with respect to rates, policy forms, coverages, or other matters;(3)Prohibit a purchasing group or its members from purchasing insurance on a group basis as described in subdivision (2) of this section;(4)Prohibit a purchasing group from obtaining insurance on a group basis because the group has not been in existence for a minimum period of time or because any member has not belonged to the group for a minimum period of time;(5)Require that a purchasing group shall have a minimum number of members, common ownership or affiliation, or certain legal form;(6)Require that a certain percentage of a purchasing group shall obtain insurance on a group basis;(7)Otherwise discriminate against a purchasing group or any of its members; or(8)Require that any insurance policy issued to a purchasing group or any of its members be countersigned by an insurance producer residing in this state. Source: SL 1988, ch 392, §4; SL 2001, ch 286, §91.
SD Codified L § 58-6A-17 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 06A - Risk Retention Groups|Section 58-6A-17 - Notice to director--Contents.

58-6A-17. Notice to director--Contents.Any purchasing group which intends to do business in this state shall furnish notice to the director which shall:(1)Identify the state in which the group is domiciled;(2)Specify the lines and classifications of liability insurance which the purchasing group intends to purchase;(3)Identify the insurance company from which the group intends to purchase its insurance and the domicile, together with the complete business address, of such company;(4)Identify the principal place of business of the group, together with the complete business address;(5)Provide such other information as may be required by the director to verify that the purchasing group is qualified under §58-6A-1;(6)Identify all other states in which the group intends to do business; and(7)Specify the method by which, and the person through whom insurance shall be offered to its members whose risks are resident or located in this state. Source: SL 1987, ch 372, §17; SL 1988, ch 392, §5.
SD Codified L § 58-6A-17.1 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 06A - Risk Retention Groups|Section 58-6A-17.1 - Notice to director of changes.

58-6A-17.1. Notice to director of changes.A purchasing group shall, within ten days, notify the director of any changes in any of the items set forth in §58-6A-17. Source: SL 1988, ch 392, §6.
SD Codified L § 58-6A-17.2 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 06A - Risk Retention Groups|Section 58-6A-17.2 - Information required by director--Time for giving notice and information.

58-6A-17.2. Information required by director--Time for giving notice and information.Each group that is required to give notice pursuant to §58-6A-17 shall also furnish such information as may be required by the director to:(1)Verify that the entity qualifies as a purchasing group;(2)Determine where the purchasing group is located; and(3)Determine appropriate tax treatment.Any purchasing group which was doing business in this state prior to July 1, 1988, shall, within thirty days thereafter, furnish notice to the director pursuant to the provisions of §58-6A-17 and furnish such information as may be required pursuant to §§58-6A-17.1 and 58-6A-18. Source: SL 1988, ch 392, §7.
SD Codified L § 58-6A-18 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 06A - Risk Retention Groups|Section 58-6A-18 - Designation of director as agent for purchasing group--Exceptions.

58-6A-18. Designation of director as agent for purchasing group--Exceptions.The purchasing group shall register with and designate the director as its agent solely for the purpose of receiving service of legal documents or process, except that such requirements do not apply in the case of a purchasing group:(1)Which was domiciled before April 1, 1986, and is domiciled on and after October 27, 1986, in any state of the United States;(2)Which before October 27, 1986, purchased insurance from an insurance carrier licensed in any state, and since October 27, 1986, purchased its insurance from an insurance carrier licensed in any state;(3)Which was a purchasing group under the requirements of the Product Liability Risk Retention Act of 1981 before October 27, 1986; and(4)Which does not purchase insurance that was not authorized for purposes of an exemption under that act, as in effect before October 27, 1986. Source: SL 1987, ch 372, §18.
SD Codified L § 58-6A-19.1 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 06A - Risk Retention Groups|Section 58-6A-19.1 - Purchase from risk retention group not chartered or insurer not admitted in state prohibited--Exception.

58-6A-19.1. Purchase from risk retention group not chartered or insurer not admitted in state prohibited--Exception.A purchasing group may not purchase insurance from a risk retention group that is not chartered in a state or from an insurer not admitted in the state in which the purchasing group is located, unless the purchase is effected through a licensed insurance producer acting pursuant to the surplus lines laws and regulations of such state. Source: SL 1988, ch 392, §9; SL 2001, ch 286, §92.
SD Codified L § 58-6A-19.2 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 06A - Risk Retention Groups|Section 58-6A-19.2 - Notice of unprotected risk when liability insurance obtained from insurer not admitted in this state or risk retention group.

58-6A-19.2. Notice of unprotected risk when liability insurance obtained from insurer not admitted in this state or risk retention group.Any purchasing group which obtains liability insurance from an insurer not admitted in this state or a risk retention group shall inform each of the members of such group which have a risk resident or located in this state that such risk is not protected by an insurance insolvency guaranty fund in this state and that such risk retention group or such insurer may not be subject to all insurance laws and regulations of this state. Source: SL 1988, ch 392, §10.
SD Codified L § 58-6A-19.3 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 06A - Risk Retention Groups|Section 58-6A-19.3 - Purchase of insurance providing for deductible or self-induced retention applicable to whole group prohibited--Application to individuals allowed--Aggregate limits standards.

58-6A-19.3. Purchase of insurance providing for deductible or self-induced retention applicable to whole group prohibited--Application to individuals allowed--Aggregate limits standards.No purchasing group may purchase insurance providing for a deductible or self-insured retention applicable to the group as a whole. However, coverage may provide for a deductible or self-insured retention applicable to individual members. Any purchase of insurance by purchasing groups is subject to the same standards regarding aggregate limits which are applicable to all purchases of group insurance. Source: SL 1988, ch 392, §11.
SD Codified L § 58-6A-19.4 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 06A - Risk Retention Groups|Section 58-6A-19.4 - Insurance producer or broker license required for purchasing liability insurance from risk retention group.

58-6A-19.4. Insurance producer or broker license required for purchasing liability insurance from risk retention group.No person, firm, association, or corporation may act or aid in any manner in soliciting, negotiating, or procuring liability insurance in this state from a risk retention group unless the person, firm, association, or corporation is licensed as an insurance producer in accordance with Title 58. Source: SL 1988, ch 392, §12; SL 2001, ch 286, §93.
SD Codified L § 58-6A-19.5 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 06A - Risk Retention Groups|Section 58-6A-19.5 - Insurance producer or broker license required to solicit liability insurance for purchasing group from insurer or risk retention group.

58-6A-19.5. Insurance producer or broker license required to solicit liability insurance for purchasing group from insurer or risk retention group.No person, firm, association, or corporation may act or aid in any manner in soliciting, negotiating, or procuring liability insurance in this state for a purchasing group from an authorized insurer or a risk retention group chartered in a state unless the person, firm, association, or corporation is licensed as an insurance producer in accordance with Title 58. Source: SL 1988, ch 392, §13; SL 2001, ch 286, §94.
SD Codified L § 58-6A-19.6 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 06A - Risk Retention Groups|Section 58-6A-19.6 - Insurance producer or broker license required to solicit liability insurance for member of purchasing group.

58-6A-19.6. Insurance producer or broker license required to solicit liability insurance for member of purchasing group.No person, firm, association, or corporation may act or aid in any manner in soliciting, negotiating, or procuring liability insurance coverage in this state for any member of a purchasing group under a purchasing group's policy unless the person, firm, association, or corporation is licensed as an insurance producer in accordance with Title 58. Source: SL 1988, ch 392, §14; SL 2001, ch 286, §95.
SD Codified L § 58-6A-19.7 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 06A - Risk Retention Groups|Section 58-6A-19.7 - Surplus lines producer or excess line producer license required to solicit liability insurance from unauthorized insurer for purchasing group.

58-6A-19.7. Surplus lines producer or excess line producer license required to solicit liability insurance from unauthorized insurer for purchasing group.No person, firm, association, or corporation may act or aid in any manner in soliciting, negotiating, or procuring liability insurance from an insurer not authorized to do business in this state on behalf of a purchasing group located in this state unless the person, firm, association, or corporation is licensed as a surplus lines producer or excess line producer in accordance with Title 58. Source: SL 1988, ch 392, §15; SL 2001, ch 286, §96.
SD Codified L § 58-6A-20 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 06A - Risk Retention Groups|Section 58-6A-20 - Director's use of enforcement powers--Injunctive authority.

58-6A-20. Director's use of enforcement powers--Injunctive authority.The director may use any of the enforcement powers available under the laws of this state so long as those powers are not specifically preempted by the Product Liability Risk Retention Act of 1981, as amended by the risk retention amendments of 1986. This includes, but is not limited to, the director's administrative authority to investigate, issue subpoenas, conduct depositions and hearings, issue orders, and impose penalties. With regard to any investigation, administrative proceedings or litigation, the director may rely on the procedural law and regulations of this state. The injunctive authority of the director in regard to risk retention groups is restricted by the requirement that any injunction be issued by a court of competent jurisdiction. Source: SL 1987, ch 372, §20.
SD Codified L § 58-6A-21 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 06A - Risk Retention Groups|Section 58-6A-21 - Penalty for violation.

58-6A-21. Penalty for violation.Any risk retention group which violates any provision of this chapter is subject to fines and penalties applicable to licensed insurers generally, including revocation of its license or the right to do business in this state. Source: SL 1987, ch 372, §21.
SD Codified L § 58-6A-22 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 06A - Risk Retention Groups|Section 58-6A-22 - Broker license--Waiver of residency requirements.

58-6A-22. Broker license--Waiver of residency requirements.Any person acting, or offering to act, as an insurance producer for a risk retention group or purchasing group, which solicits members, sells insurance coverage, purchases coverage for its members located within this state, or otherwise does business in this state shall, before commencing any such activity, obtain a license from the Division of Insurance. The residency requirements shall be waived for any insurance producer license issued under this chapter. Source: SL 1987, ch 372, §22; SL 2001, ch 286, §97.