reglab/statecodes huggingface dataset:
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 24 - Fire, Marine, Casualty, And Surety Insurance Rates And Rating Organizations › Section 58-24-26 - Excess rate approved for specific risk--Filing application.

58-24-26. Excess rate approved for specific risk--Filing application.
Upon written application signed by the insured, stating the reasons therefor, filed with and approved by the director, a rate in excess of that provided by a filing otherwise applicable may be used on any specific risk. The application for approval of this rate shall be filed prior to the effective date of the policy being issued. The director may waive the requirement of prior filing if a special need or circumstance can be demonstrated.
Source:
SL 1966, ch 111, ch 15, §4 (7); SL 1967, ch 133; SL 1990, ch 400, §2; SL 2009, ch 267, §1.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 24 - Fire, Marine, Casualty, And Surety Insurance Rates And Rating Organizations › Section 58-24-27 - Assigned risks--Reasonable rate modifications.

58-24-27. Assigned risks--Reasonable rate modifications.
Agreements may be made among insurers with respect to the equitable apportionment among them of insurance which may be afforded applicants who are in good faith entitled to but who are unable to procure such insurance through ordinary methods, and such insurers may agree among themselves on the use of reasonable rate modifications for such insurance, such agreements and rate modifications to be subject to the approval of the director.
Source:
SL 1966, ch 111, ch 15, §15.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 24 - Fire, Marine, Casualty, And Surety Insurance Rates And Rating Organizations › Section 58-24-28 - Information to be furnished insureds.

58-24-28. Information to be furnished insureds.
Every rating organization and every insurer which makes its own rates shall, within a reasonable time after receiving written request therefor and upon payment of such reasonable charge as it may make, furnish to any insured affected by a rate made by it, or to the authorized representative of such insured, all pertinent information as to such rate.
Source:
SL 1966, ch 111, ch 15, §9.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 24 - Fire, Marine, Casualty, And Surety Insurance Rates And Rating Organizations › Section 58-24-29 - Right of insured to hearing on application of rating system.

58-24-29. Right of insured to hearing on application of rating system.
Every rating organization and every insurer which makes its own rates shall provide within this state reasonable means whereby any person aggrieved by the application of its rating system may be heard, in person or by his authorized representative, on his written request to review the manner in which such rating system has been applied in connection with the insurance afforded him. If the rating organization or insurer fails to grant or reject such request within thirty days after it is made, the applicant may proceed in the same manner as if his application had been rejected.
Source:
SL 1966, ch 111, ch 15, §9.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 24 - Fire, Marine, Casualty, And Surety Insurance Rates And Rating Organizations › Section 58-24-30 - Appeal to director from rating organization or insurer--Affirmance or reversal of action.

58-24-30. Appeal to director from rating organization or insurer--Affirmance or reversal of action.
Any party affected by the action of such rating organization or such insurer on such request may, within thirty days after written notice of such action, appeal to the director who, after a hearing held upon not less than ten days' written notice to the appellant and to such rating organization or insurer, may affirm or reverse such action.
Source:
SL 1966, ch 111, ch 15, §9.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 24 - Fire, Marine, Casualty, And Surety Insurance Rates And Rating Organizations › Section 58-24-31 - Recording and reporting of loss and experience--Rules and statistical plans of director.

58-24-31. Recording and reporting of loss and experience--Rules and statistical plans of director.
The director shall promulgate rules and statistical plans, reasonably adapted to each of the rating systems on file with the division, which may be modified from time to time and which shall be used thereafter by each insurer in the recording and reporting of its loss and country-wide expense experience in order that the experience of all insurers may be made available at least annually in such form and detail as may be necessary in determining whether rating systems comply with the standards set forth in §§58-24-5 to 58-24-8, inclusive. Such rules and plans may also provide for the recording and reporting of expense experience items which are specially applicable to this state and are not susceptible of determination by a prorating of country-wide expense experience. In promulgating such rules and deciding what plans to use, the director shall give due consideration to the rating systems on file and, in order that the plans may be as uniform as is practicable among the several states, to the rules and to the form of the plans used for such rating systems in other states. No insurer shall be required to record or report its loss experience on a classification basis that is inconsistent with the rating system filed by it. The director may designate one or more rating organizations or other agencies for assistance in gathering such experience and making compilations thereof, and such compilations shall be made available, subject to rules promulgated by the director, to insurers and rating organizations.
Source:
SL 1966, ch 111, ch 15, §13(1); SL 1986, ch 22, §34.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 24 - Fire, Marine, Casualty, And Surety Insurance Rates And Rating Organizations › Section 58-24-33 - Exchange of information and experience data with other states--Consultation as to rate-making.

58-24-33. Exchange of information and experience data with other states--Consultation as to rate-making.
In order to further uniform administration of rate regulatory laws, the director and every insurer and rating organization may exchange information and experience data with insurance supervisory officials, insurers, and rating organizations in other states and may consult with them with respect to rate-making and the application of rating systems.
Source:
SL 1966, ch 111, ch 15, §13 (3).
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 24 - Fire, Marine, Casualty, And Surety Insurance Rates And Rating Organizations › Section 58-24-34 - Withholding of or giving false or misleading information--Penalties.

58-24-34. Withholding of or giving false or misleading information--Penalties.
No person or organization shall willfully withhold information from, or knowingly give false or misleading information to, the director, any statistical agency designated by the director, any rating organization, or any insurer, which will affect the rates or premiums chargeable under this chapter. A violation of this section is a Class 2 misdemeanor and shall subject the one guilty of such violation to the penalties provided in §§58-24-61 and 58-24-62.
Source:
SL 1966, ch 111, ch 15, §14; SL 1978, ch 359, §2.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 24 - Fire, Marine, Casualty, And Surety Insurance Rates And Rating Organizations › Section 58-24-35 - Application for license as rating organization--Contents.

58-24-35. Application for license as rating organization--Contents.
A corporation, unincorporated association, partnership, individual, or any other legal business entity, whether located within or outside this state, may apply for a license as a rating organization by providing the following information in its application:
(1)A copy of its governing documents, to include its constitution, articles of agreement or association, certificate of incorporation, bylaws, rules, and regulations, as applicable;
(2)A list of its members and subscribers;
(3)The name and address of a resident of this state upon whom notices or orders of the director or process affecting such rating organization may be served;
(4)A statement of its qualifications as a rating organization; and
(5)A statement specifying the kind of insurance, or subdivision, class, or part of risk or combination thereof for which the rating organization intends to be licensed.
Source:
SL 1966, ch 111, ch 15, §6 (1); SL 2014, ch 239, §2.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 24 - Fire, Marine, Casualty, And Surety Insurance Rates And Rating Organizations › Section 58-24-36 - Issuance of license--Finding by director--Time for granting or denying application.

58-24-36. Issuance of license--Finding by director--Time for granting or denying application.
If the director finds that the applicant is competent, trustworthy, and otherwise qualified to act as a rating organization and that the contents of its application conform to the requirements of law, the director shall issue a license specifying the kinds of insurance, or subdivisions or classes of risks or parts or combinations thereof for which the applicant is authorized to act as a rating organization. Each application shall be granted or denied in whole or in part by the director within sixty days of the date of its filing with the director.
Source:
SL 1966, ch 111, ch 15, §6 (1); SL 2014, ch 239, §3.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 24 - Fire, Marine, Casualty, And Surety Insurance Rates And Rating Organizations › Section 58-24-37 - Duration of rating organization license--Fee.

58-24-37. Duration of rating organization license--Fee.
Each license issued pursuant to §58-24-36 remains in effect for three years unless suspended or revoked by the director. The license fee for any applicant pursuant to this chapter is twenty-five dollars.
Source:
SL 1966, ch 111, ch 15, §6 (1); SL 2014, ch 239, §4.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 24 - Fire, Marine, Casualty, And Surety Insurance Rates And Rating Organizations › Section 58-24-38 - Suspension or revocation of license.

58-24-38. Suspension or revocation of license.
Any license issued pursuant to §58-24-36 may be suspended or revoked by the director, after hearing upon notice, if the rating organization ceases to meet any requirement of this chapter, including the requirements of initial licensure.
Source:
SL 1966, ch 111, ch 15, §6 (1); SL 2014, ch 239, §5.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 24 - Fire, Marine, Casualty, And Surety Insurance Rates And Rating Organizations › Section 58-24-39 - Notice to director of change in license application information.

58-24-39. Notice to director of change in license application information.
Each rating organization shall notify the director promptly of any change in information from what was provided in its application pursuant to §58-24-35.
Source:
SL 1966, ch 111, ch 15, §6 (1); SL 2014, ch 239, §6.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 24 - Fire, Marine, Casualty, And Surety Insurance Rates And Rating Organizations › Section 58-24-40 - Subscribers to rating services--Rules of rating organization.

58-24-40. Subscribers to rating services--Rules of rating organization.
Subject to rules and regulations of the rating organization that have been approved by the director as reasonable, each rating organization shall permit any insurer that is not a member to be a subscriber to its rating services for any kind of insurance for which it is licensed. Notice of any proposed change to a rule shall be given to each subscriber. Each rating organization shall furnish its rating services without discrimination to each member and subscriber.
Source:
SL 1966, ch 111, ch 15, §6 (2); SL 2014, ch 239, §7.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 24 - Fire, Marine, Casualty, And Surety Insurance Rates And Rating Organizations › Section 58-24-41 - Review by director of reasonableness of rule or refusal to admit insurer as subscriber.

58-24-41. Review by director of reasonableness of rule or refusal to admit insurer as subscriber.
Any subscriber, member, or insurer may request a hearing held by the director to determine the reasonableness of any rule or regulation of a rating organization in its application to each subscriber or the refusal of any rating organization to admit an insurer as a subscriber. The hearing shall be held upon at least ten days' written notice to such rating organization and to each subscriber or insurer pursuant to chapter 1-26. If the director finds that the rule is unreasonable in its application to subscribers, or that an insurer is denied subscription without justification, the director shall order that the rule is not applicable to subscribers or that the insurer is to be admitted as a subscriber, as applicable.
Source:
SL 1966, ch 111, ch 15, §6 (2); SL 2014, ch 239, §8.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 24 - Fire, Marine, Casualty, And Surety Insurance Rates And Rating Organizations › Section 58-24-42 - Order affirming action of rating organization.

58-24-42. Order affirming action of rating organization.
If, after the hearing held pursuant to §58-24-41, the director finds that the action of the rating organization was justified, the director shall issue an order affirming its action.
Source:
SL 1966, ch 111, ch 15, §6 (2); SL 2014, ch 239, §9.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 24 - Fire, Marine, Casualty, And Surety Insurance Rates And Rating Organizations › Section 58-24-43 - Actuarial, technical, or other services provided to subscribers.

58-24-43. Actuarial, technical, or other services provided to subscribers.
Any rating organization may subscribe for or purchase actuarial, technical, or other services, and such services shall be available to all members and subscribers without discrimination.
Source:
SL 1966, ch 111, ch 15, §6 (6).
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 24 - Fire, Marine, Casualty, And Surety Insurance Rates And Rating Organizations › Section 58-24-44 - Examination of evidences of insurance or cancellation--Rules as to submission--Information confidential.

58-24-44. Examination of evidences of insurance or cancellation--Rules as to submission--Information confidential.
Any rating organization may provide for the examination of policies, daily reports, binders, renewal certificates, endorsements, or other evidences of insurance, or the cancellation thereof, and may make reasonable rules governing their submission. Rules shall contain a provision that if any insurer does not furnish satisfactory evidence to the rating organization of the correction of any error or omission previously called to its attention by the rating organization within sixty days, the rating organization shall notify the director thereof. All information submitted for examination under this section is confidential.
Source:
SL 1966, ch 111, ch 15, §6 (5); SL 2014, ch 239, §10.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 24 - Fire, Marine, Casualty, And Surety Insurance Rates And Rating Organizations › Section 58-24-45 - Regulation of payment of dividends, savings, or unabsorbed premium deposits prohibited.

58-24-45. Regulation of payment of dividends, savings, or unabsorbed premium deposits prohibited.
No rating organization may adopt any rule the effect of which would prohibit or regulate the payment of dividends, savings, or unabsorbed premium deposits allowed or returned by insurers to their policyholders, members, or subscribers.
Source:
SL 1966, ch 111, ch 15, §6 (3); SL 2014, ch 239, §11.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 24 - Fire, Marine, Casualty, And Surety Insurance Rates And Rating Organizations › Section 58-24-45.1 - Group insurance marketing permitted--Conditions.

58-24-45.1. Group insurance marketing permitted--Conditions.
An insurer may market insurance through a group insurance or mass marketing plan, franchise, or blanket policy for any line of insurance regulated under this chapter if:
(1)The insured group was not formed solely for the purpose of purchasing insurance; and
(2)The premium is paid or collected by:
(a)An employer, labor union, or the trustee of a fund established by the employer or labor union;
(b)The trustee of a fund established by two or more employers in the same industry, or related industries;
(c)Two or more labor unions or an association which have been in existence for one or more years and which have a constitution and bylaws; or
(d)A wireless telecommunications provider from its customers and the premium is for insurance covering wireless telecommunications equipment.
Source:
SL 1979, ch 341, §12; SL 2008, ch 270, §1; SL 2014, ch 239, §12.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 24 - Fire, Marine, Casualty, And Surety Insurance Rates And Rating Organizations › Section 58-24-46 - Cooperation between organizations and insurers authorized--Review of cooperative activities by director.

58-24-46. Cooperation between organizations and insurers authorized--Review of cooperative activities by director.
Cooperation among rating organizations or among rating organizations and insurers in rate-making or in other matters within the scope of this chapter is hereby authorized, provided the filings resulting from such cooperation are subject to all the provisions of this chapter which are applicable to filings generally. The director may review such cooperative activities and practices and if, after a hearing, he finds that any such activity or practice is unfair or unreasonable or otherwise inconsistent with the provisions of this chapter, he may issue a written order specifying in what respects such activity or practice is unfair or unreasonable or otherwise inconsistent with the provisions of this chapter and requiring the discontinuance of such activity or practice.
Source:
SL 1966, ch 111, ch 15, §6 (4).
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 24 - Fire, Marine, Casualty, And Surety Insurance Rates And Rating Organizations › Section 58-24-47 - Appeal to director from action of rating organization--Hearing--Order.

58-24-47. Appeal to director from action of rating organization--Hearing--Order.
Any member or subscriber to a rating organization may appeal to the director from the action or decision of the rating organization in approving or rejecting any proposed change in or addition to the filings of the rating organization. The director shall, after a hearing held upon not less than ten days' written notice to the appellant and to the rating organization, issue an order approving the action or decision of the rating organization or, if the director finds that the action or decision was unreasonable, issue an order directing the rating organization to make an addition to its filings on behalf of its members and subscribers, in a manner consistent with the director's findings within a reasonable time after the issuance of the order.
Source:
SL 1966, ch 111, ch 15, §8; SL 2014, ch 239, §13.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 24 - Fire, Marine, Casualty, And Surety Insurance Rates And Rating Organizations › Section 58-24-48 - Appeal based on failure to file for different expense system--Application of rate-making standards.

58-24-48. Appeal based on failure to file for different expense system--Application of rate-making standards.
If an appeal under §58-24-47 is based upon the failure of the rating organization to make a filing on behalf of the member or subscriber, which is based on a system of expense provisions which differs, in accordance with the right granted in §58-24-8, from the system of expense provisions included in a filing made by the rating organization, the director shall, if the director grants the appeal, order the rating organization to make the requested filing for use by the appellant. In deciding the appeal the director shall apply the standards set forth in §§58-24-5 to 58-24-9, inclusive.
Source:
SL 1966, ch 111, ch 15, §8; SL 2014, ch 239, §14.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 24 - Fire, Marine, Casualty, And Surety Insurance Rates And Rating Organizations › Section 58-24-49 - Application of insurer to file deviation--Basis for modification--Copy to rating organization.

58-24-49. Application of insurer to file deviation--Basis for modification--Copy to rating organization.
Every member of or subscriber to a rating organization shall adhere to the filings made on its behalf by such organization except that any such insurer may make written application to the director to file a deviation from the class rates, schedules, rating plans, or rules respecting any kind of insurance, or class of risk within a kind of insurance, or combination thereof. Such application shall specify the basis for the modification and a copy shall also be sent simultaneously to such rating organization.
Source:
SL 1966, ch 111, ch 15, §7.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 24 - Fire, Marine, Casualty, And Surety Insurance Rates And Rating Organizations › Section 58-24-50 - Deviations to be uniform within class.

58-24-50. Deviations to be uniform within class.
As to all forms of casualty insurance, including workers' compensation or any combination thereof, no application shall be granted under §58-24-51 unless the requested deviation is based upon a uniform percentage decrease or increase to be applied to the premiums produced by such rating system, as filed, for a kind of insurance or for a class of insurance which is found by the director to be a proper rating unit for the application of such uniform percentage decrease or increase, or for a subdivision of a kind of insurance comprised of a group of manual classifications which are treated as a separate unit for rate-making purposes or for which separate expense provisions are included in the filings of the rating organization.
Source:
SL 1966, ch 111, ch 15, §3 (2).
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 24 - Fire, Marine, Casualty, And Surety Insurance Rates And Rating Organizations › Section 58-24-51 - Criteria considered on application for deviation--Order permitting or denying deviation.

58-24-51. Criteria considered on application for deviation--Order permitting or denying deviation.
In considering the application to file such deviation, the director shall give consideration to the available statistics and the principles for rate-making as provided in §§58-24-5 to 58-24-9, inclusive. The director shall issue an order permitting the deviation for such insurer to be filed if he finds it to be justified and it shall thereupon become effective. He shall issue an order denying such application if he finds that the deviation applied for does not meet the requirements of this chapter.
Source:
SL 1966, ch 111, ch 15, §7.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 24 - Fire, Marine, Casualty, And Surety Insurance Rates And Rating Organizations › Section 58-24-52 - Duration of permitted deviation.

58-24-52. Duration of permitted deviation.
Each deviation permitted to be filed shall remain in effect for a period of not less than one year from the effective date unless sooner withdrawn by the insurer with the approval of the director or until terminated in accordance with the provisions of §§58-24-21 to 58-24-24, inclusive.
Source:
SL 1966, ch 111, ch 15, §7.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 24 - Fire, Marine, Casualty, And Surety Insurance Rates And Rating Organizations › Section 58-24-53 - Advisory organization license required.

58-24-53. Advisory organization license required.
Each group, association, or other organization of insurers, whether located within or outside this state, which assists insurers which make their own filings or rating organizations in rate-making, by the collection and furnishing of loss or expense statistics, or by the submission of recommendations, but which does not make filings under this chapter shall be subject to licensure pursuant to this chapter as an advisory organization.
Source:
SL 1966, ch 111, ch 15, §10 (1); SL 2014, ch 239, §15.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 24 - Fire, Marine, Casualty, And Surety Insurance Rates And Rating Organizations › Section 58-24-54 - Advisory organization filing requirements.

58-24-54. Advisory organization filing requirements.
Each advisory organization shall file with the director the requirements of §58-24-35 and an agreement that the director may examine the advisory organization in accordance with the provisions of §58-24-59.
Source:
SL 1966, ch 111, ch 15, §10 (2); SL 2014, ch 239, §16.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 24 - Fire, Marine, Casualty, And Surety Insurance Rates And Rating Organizations › Section 58-24-55 - Unfair or unreasonable advisory organization practices--Order requiring discontinuance.

58-24-55. Unfair or unreasonable advisory organization practices--Order requiring discontinuance.
If the director finds that an advisory organization has furnished information or assistance that involves any act or practice which is unfair or unreasonable or otherwise inconsistent with the provisions of this chapter, the director may issue an order specifying in what respect such act or practice is unfair or unreasonable or otherwise inconsistent with the provisions of this chapter, and requiring the discontinuance of such act or practice.
Source:
SL 1966, ch 111, ch 15, §10 (3); SL 2014, ch 239, §17.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 24 - Fire, Marine, Casualty, And Surety Insurance Rates And Rating Organizations › Section 58-24-56 - Filings based on information furnished by noncompliant advisory organization prohibited--Order requiring discontinuance.

58-24-56. Filings based on information furnished by noncompliant advisory organization prohibited--Order requiring discontinuance.
No insurer that makes its own filings or any rating organization that submits filings with the division may support its filings by statistics or adopt rate-making recommendations furnished to it by an advisory organization which has not complied with §58-24-54 or with an order of the director involving statistics or recommendations issued under §58-24-55. If the director finds an insurer or rating organization to be in violation of this section the director may issue an order requiring the discontinuance of the violation.
Source:
SL 1966, ch 111, ch 15, §10 (4); SL 2014, ch 239, §18.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 24 - Fire, Marine, Casualty, And Surety Insurance Rates And Rating Organizations › Section 58-24-57 - Insurers engaging in joint underwriting or joint reinsurance subject to regulation.

58-24-57. Insurers engaging in joint underwriting or joint reinsurance subject to regulation.
Every group, association, or other organization of insurers which engages in joint underwriting or joint reinsurance shall be subject to regulation with respect thereto as provided in this title.
Source:
SL 1966, ch 111, ch 15, §11 (1).
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 24 - Fire, Marine, Casualty, And Surety Insurance Rates And Rating Organizations › Section 58-24-58 - Unfair or unreasonable practices of joint underwriters or joint reinsurers--Order requiring discontinuance.

58-24-58. Unfair or unreasonable practices of joint underwriters or joint reinsurers--Order requiring discontinuance.
If, after a hearing, the director finds that any activity or practice of any group identified in §58-24-57 is unfair or unreasonable or otherwise inconsistent with the provisions of this chapter, the director may issue an order specifying in what respect the activity or practice is unfair or unreasonable or otherwise inconsistent with the provisions of this chapter and requiring the discontinuance of the activity or practice.
Source:
SL 1966, ch 111, ch 15, §11 (2); SL 2014, ch 239, §19.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 24 - Fire, Marine, Casualty, And Surety Insurance Rates And Rating Organizations › Section 58-24-59 - Examination of rating organizations, advisory organizations, joint underwriters, and joint reinsurers--Acceptance of report of official of another state.

58-24-59. Examination of rating organizations, advisory organizations, joint underwriters, and joint reinsurers--Acceptance of report of official of another state.
As often as the director deems necessary, the director shall examine each rating organization licensed in this state as provided in §§58-24-35 to 58-24-39, inclusive, each advisory organization referred to in §58-24-53, and each group, association, or other organization referred to in §58-24-57. The cost of any examination shall be paid by the rating organization, advisory organization, or group, association or other organization examined. The officers, manager, agents, and employees of the rating organization, advisory organization, or group, association, or other organization may be examined at any time under oath and shall exhibit all books, records, accounts, documents, or agreements governing its method of operation. In lieu of the above, the director may accept the report of an examination made by the insurance supervisory official of another state. No rating organization examined may be reimbursed from the examination fund.
Source:
SL 1966, ch 111, ch 15, §12; SL 2014, ch 239, §20.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 24 - Fire, Marine, Casualty, And Surety Insurance Rates And Rating Organizations › Section 58-24-61 - Violation of chapter--Penalties.

58-24-61. Violation of chapter--Penalties.
The director may, if the director finds that any person or organization has violated any provision of this chapter, issue an order which imposes a penalty of not more than five hundred dollars for each violation, but if the director finds a violation to be willful the director may impose a penalty of not more than five thousand dollars for each violation. The penalties may be in addition to any other penalty provided by law or order of the director issued pursuant to this chapter.
Source:
SL 1966, ch 111, ch 15, §16; SL 2014, ch 239, §21.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 24 - Fire, Marine, Casualty, And Surety Insurance Rates And Rating Organizations › Section 58-24-62 - Suspension of license of rating organization or insurer.

58-24-62. Suspension of license of rating organization or insurer.
The director may suspend the license of any rating organization or insurer that fails to comply with an order of the director after the time prescribed for an appeal therefrom has expired or the order has been affirmed on appeal. The director may determine when a suspension of license becomes effective. Any suspension remains in effect for the period fixed by the director, or until the order upon which the suspension is based is modified, rescinded, or reversed.
Source:
SL 1966, ch 111, ch 15, §16; SL 2014, ch 239, §22.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 24 - Fire, Marine, Casualty, And Surety Insurance Rates And Rating Organizations › Section 58-24-63 - Written order of director for imposition of penalty and suspension of license--Hearing, notice, findings.

58-24-63. 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 or revoked except upon a 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 organization specifying the alleged violation.
Source:
SL 1966, ch 111, ch 15, §16.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 24 - Fire, Marine, Casualty, And Surety Insurance Rates And Rating Organizations › Section 58-24-64 - Request for hearing on order or decision--Notice--Affirmance, reversal, or modification.

58-24-64. Request for hearing on order or decision--Notice--Affirmance, reversal, or modification.
Any insurer or rating organization aggrieved by any order or decision of the director made without a hearing, may, within thirty days after notice of the order to the insurer or organization, make written request to the director for a hearing thereon. The director shall issue a notice of hearing pursuant to chapter 1-26 within twenty days after receipt of a request and shall give not less than ten days' written notice of the time and place of the hearing. Within a reasonable time after the hearing the director shall affirm, reverse, or modify the director's previous action, specifying the reasons therefor. Pending the hearing and decision thereon the director may suspend or postpone the effective date of the director's previous action.
Source:
SL 1966, ch 111, ch 15, §17 (1); SL 2014, ch 239, §23.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 24 - Fire, Marine, Casualty, And Surety Insurance Rates And Rating Organizations › Section 58-24-65 - Rehearing and appeal from order of director.

58-24-65. Rehearing and appeal from order of director.
Any order or decision of the director in proceedings arising under this chapter shall be subject to rehearing and review on appeal in the same manner and by the same procedure as provided by chapter 1-26, and such procedure shall be exclusive of all other remedies.
Source:
SL 1966, ch 111, ch 15, §17 (2).
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 24 - Fire, Marine, Casualty, And Surety Insurance Rates And Rating Organizations › Section 58-24-66 - Notice required for filing for workers' compensation insurance.

58-24-66. Notice required for filing for workers' compensation insurance.
At least fifteen days before any rating organization makes a loss cost filing required by §58-24-10 for workers' compensation insurance, the rating organization shall give the director of the Division of Insurance notice of its intent to make a loss cost filing.
Source:
SL 1990, ch 401, §1; SL 1993, ch 362, §4.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 24 - Fire, Marine, Casualty, And Surety Insurance Rates And Rating Organizations › Section 58-24-67 - Notice to workers' compensation purchaser organizations.

58-24-67. Notice to workers' compensation purchaser organizations.
Within thirty days of receipt of a notice pursuant to §58-24-66, the director of the Division of Insurance shall schedule an informal hearing and send notice of the intent to conduct the informal hearing to organizations of purchasers of workers' compensation insurance and insurers who have registered with the director to receive such notices.
Source:
SL 1990, ch 401, §2; SL 1993, ch 362, §5.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 24 - Fire, Marine, Casualty, And Surety Insurance Rates And Rating Organizations › Section 58-24-68 - Exempt commercial policyholder--Definition.

58-24-68. Exempt commercial policyholder--Definition.
For the purposes of §§58-24-68 to 58-24-74, inclusive, the term, exempt commercial policyholder, means any person who applies for or procures any kind of property casualty insurance, except title or workers' compensation insurance, through the use of a risk manager employed or retained by such person, and meets at least two of the following qualifications:
(1)Has purchased the insurance with aggregate premiums in the sum of at least fifty thousand dollars, during the most recently completed calendar year;
(2)Has a net worth of at least ten million dollars, as reported in the policyholder's most recently issued financial statement, reviewed or audited by an independent certified public accountant;
(3)Has annual net revenues or net sales of at least ten million dollars, as reported in the policyholder's most recently issued financial statement, reviewed or audited by an independent certified public accountant;
(4)Employs at least one hundred full-time employees, either individually or, if the policyholder is a member of an affiliated group, collectively with all members of the affiliated group;
(5)Has, if the policyholder is a nonprofit organization, an annual operating budget of at least two million five hundred thousand dollars, for the most recently completed calendar or fiscal year, whichever applies;
(6)Has, if the policyholder is a public entity, an operating budget of at least ten million dollars, for the most recently completed calendar or fiscal year, whichever applies; or
(7)Has, if the policyholder is a municipality, a population of at least twenty thousand.
Source: SL 2004, ch 307, §1; SL 2022, ch 183, §1.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 24 - Fire, Marine, Casualty, And Surety Insurance Rates And Rating Organizations › Section 58-24-69 - "Risk manager" defined.

58-24-69. Risk manager defined.
For the purposes of §§58-24-68 to 58-24-74, inclusive, the term, risk manager, means an employee of the exempt commercial policyholder, or a third-party consultant retained by the policyholder who provides skilled services in loss prevention, loss reduction, or risk and insurance coverage analysis, and the purchase of insurance, and who possesses at least one of the following credentials:
(1)A bachelor's or higher degree in risk management issued by an accredited college or university;
(2)A designation as a chartered property and casualty underwriter issued by the American Institute for Chartered Property and Casualty Underwriters and Insurance Institute of America;
(3)A designation as an associate in risk management issued by the American Institute for Chartered Property and Casualty Underwriters and Insurance Institute of America;
(4)A designation as a certified risk manager issued by the National Alliance for Insurance Education and Research;
(5)A designation as a fellow in risk management or RIMS fellow issued by the Global Risk Management Institute; or
(6)At least seven years of experience in one or more of the following areas of commercial property and casualty insurance:
(a)Risk financing;
(b)Claims administration;
(c)Loss prevention; or
(d)Risk and insurance coverage analysis.
Source:
SL 2004, ch 307, §2.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 24 - Fire, Marine, Casualty, And Surety Insurance Rates And Rating Organizations › Section 58-24-70 - Exemption from rate and form filing requirements for policy issued to exempt commercial policyholder--Disclosure requirements.

58-24-70. Exemption from rate and form filing requirements for policy issued to exempt commercial policyholder--Disclosure requirements.
An insurer issuing a policy to an exempt commercial policyholder is exempt, except as provided for in §§58-24-68 to 58-24-74, inclusive, from the rate filing requirements of chapter 58-24 and the form filing requirements of §58-11-12. At the time of soliciting an exempt commercial policyholder to purchase insurance, the insurance producer, or the insurer in the case of a direct procurement from the insurer, shall disclose to the policyholder and the policyholder's risk manager, on a form created by the insurer, that a premium or rate may be quoted or a policy form may be used that is not subject to the rate and form filing requirements of the Division of Insurance.
Source:
SL 2004, ch 307, §3.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 24 - Fire, Marine, Casualty, And Surety Insurance Rates And Rating Organizations › Section 58-24-71 - Third-party consultant disclosure requirements.

58-24-71. Third-party consultant disclosure requirements.
If a third-party consultant is retained by the exempt commercial policyholder to act as the policyholder's risk manager when a quote for insurance is delivered to the policyholder, the consultant shall disclose, in writing, the existence of any commission, fee, or contingency arrangement the third-party consultant has with the insurer.
Source:
SL 2004, ch 307, §4.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 24 - Fire, Marine, Casualty, And Surety Insurance Rates And Rating Organizations › Section 58-24-72 - Promulgation of rules.

58-24-72. Promulgation of rules.
The director may promulgate rules, pursuant to chapter 1-26, to carry out the provisions of §§58-24-68 to 58-24-74, inclusive, to ensure that insurers make policyholders aware of their exempt status and that insurers keep separate records of exempt policies. The rules may include certification, record keeping, and notices.
Source:
SL 2004, ch 307, §5.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 24 - Fire, Marine, Casualty, And Surety Insurance Rates And Rating Organizations › Section 58-24-73 - Insurer to maintain and provide copies of disclosures--Examination.

58-24-73. Insurer to maintain and provide copies of disclosures--Examination.
The insurer shall maintain copies of the disclosures required by §§58-24-68 to 58-24-73, inclusive. The copies are subject to examination. The insurer shall provide the copies to the division upon request as provided by this title.
Source:
SL 2004, ch 307, §6.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 24 - Fire, Marine, Casualty, And Surety Insurance Rates And Rating Organizations › Section 58-24-74 - Insurer to maintain records relating to insurance sales to exempt commercial policyholder--Examination by director.

58-24-74. Insurer to maintain records relating to insurance sales to exempt commercial policyholder--Examination by director.
Any insurer who sells any kind of insurance to an exempt commercial policyholder shall maintain records relating to the insurance sales as required by §§58-24-68 to 58-24-74, inclusive. At a minimum, the records shall include: any data, statistics, rates, rating plans, rating systems, and underwriting rules used in underwriting and issuing such policies; claims-made policy forms; annual experience data on each risk insured, including written premiums, written premiums at a manual rate, paid losses, outstanding losses, loss adjustment expenses, underwriting expenses, underwriting profits, and profits from contingencies; and complaint information required under South Dakota law.
The insurer shall maintain the records for five years. The insurer shall make such records available for examination by the director at any reasonable hour.
Source:
SL 2004, ch 307, §7.
2023 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.
2023 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.
2023 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.
2023 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).
2023 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).
2023 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).
2023 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).