reglab/statecodes huggingface dataset:
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 29B - Insurers Supervision, Rehabilitation And Liquidation › Section 58-29B-140 - Order to liquidate in whatever terms court deems appropriate--Filing--Notice imparted.

58-29B-140. Order to liquidate in whatever terms court deems appropriate--Filing--Notice imparted.
If it appears to the court that the best interests of creditors, policyholders, and the public require, the court may issue an order to liquidate in whatever terms it deems appropriate. The filing or recording of the order with the clerk of the circuit court of Hughes County or the register of deeds of the county in which the principal business of the company is located or the county in which its principal office or place of business is located, shall impart the same notice as a deed, bill of sale, or other evidence of title duly filed or recorded with that register of deeds would have imparted.
Source:
SL 1989, ch 436, §140.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 29B - Insurers Supervision, Rehabilitation And Liquidation › Section 58-29B-141 - Domiciliary receiver, conservator, or liquidator appointed while liquidation proceeding--Duty to act as ancillary receiver.

58-29B-141. Domiciliary receiver, conservator, or liquidator appointed while liquidation proceeding--Duty to act as ancillary receiver.
If a domiciliary receiver, conservator, or liquidator is appointed in a reciprocal state while a liquidation is proceeding under this section the liquidator under this section shall thereafter act as ancillary receiver under §§58-29B-145 to 58-29B-148, inclusive. If a domiciliary liquidator is appointed in a nonreciprocal state while a liquidation is proceeding under this section the liquidator may petition the court for permission to act as ancillary receiver under §§58-29B-145 to 58-29B-150, inclusive.
Source:
SL 1989, ch 436, §141; SL 2008, ch 271, §1.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 29B - Insurers Supervision, Rehabilitation And Liquidation › Section 58-29B-142 - Director's application to act as receiver--Grounds.

58-29B-142. Director's application to act as receiver--Grounds.
On the same grounds as are specified in §58-29B-138, the director may petition any appropriate federal district court to be appointed receiver to liquidate that portion of the insurer's assets and business over which that court will exercise jurisdiction, or any lesser part thereof that the director deems desirable for the protection of the policyholders and creditors in this state.
Source:
SL 1989, ch 436, §142.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 29B - Insurers Supervision, Rehabilitation And Liquidation › Section 58-29B-143 - Payment of resident's claims against foreign or alien insurer.

58-29B-143. Payment of resident's claims against foreign or alien insurer.
The court may order the director, if he has liquidated the assets of a foreign or alien insurer under this chapter, to pay claims of residents of this state against the insurer under such rules as to the liquidation of insurers under this chapter as are otherwise compatible with the provisions of this chapter.
Source:
SL 1989, ch 436, §143.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 29B - Insurers Supervision, Rehabilitation And Liquidation › Section 58-29B-144 - Domiciliary receiver, conservator, or liquidator of insurer domiciled in reciprocal state--Title vested--Date of vesting.

58-29B-144. Domiciliary receiver, conservator, or liquidator of insurer domiciled in reciprocal state--Title vested--Date of vesting.
The domiciliary receiver, conservator, or liquidator of an insurer domiciled in a reciprocal state shall, except as to special deposits and security on secured claims under §58-29B-149, be vested by operation of law with the title to all of the assets, property, contracts, and rights of action, insurance producers' balances, and all of the books, accounts, and other records of the insurer located in this state. The date of vesting shall be the date of the filing of the petition for receivership, conservatorship, or liquidation, as the case may be, if that date is specified by the domiciliary law for the vesting of property in the domiciliary state. Otherwise, the date of vesting shall be the date of entry of the order directing possession to be taken. The domiciliary receiver, conservator, or liquidator may immediately recover balances due from insurance producers and obtain possession of the books, accounts, and other records of the insurer located in this state. The domiciliary receiver, conservator, or liquidator also may recover all other assets of the insurer located in this state, subject to §§58-29B-145 to 58-29B-150, inclusive.
Source:
SL 1989, ch 436, §144; SL 2001, ch 286, §148; SL 2008, ch 271, §2.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 29B - Insurers Supervision, Rehabilitation And Liquidation › Section 58-29B-145 - Domiciliary liquidator for insurer not domiciled in reciprocal state--Title vested--Timing--Petition for conservation or liquidation.

58-29B-145. Domiciliary liquidator for insurer not domiciled in reciprocal state--Title vested--Timing--Petition for conservation or liquidation.
If a domiciliary liquidator is appointed for an insurer not domiciled in a reciprocal state, the director of this state shall be vested by operation of law with the title to all of the property, contracts, and rights of action, and all of the books, accounts, and other records of the insurer located in this state, at the same time that the domiciliary liquidator is vested with title in the domicile. The director of this state may petition for a conservation or liquidation order under §§58-29B-134 to 58-29B-144, inclusive, or for an ancillary receivership under §§58-29B-145 to 58-29B-148, inclusive, or after approval by the circuit court of Hughes County may transfer title to the domiciliary liquidator, as the interests of justice and the equitable distribution of the assets require.
Source:
SL 1989, ch 436, §145.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 29B - Insurers Supervision, Rehabilitation And Liquidation › Section 58-29B-146 - Resident claimants--With whom and when to file.

58-29B-146. Resident claimants--With whom and when to file.
Claimants residing in this state may file claims with the liquidator or ancillary receiver, if any, in this state or with the domiciliary receiver, conservator, or liquidator, if the domiciliary law permits. The claims shall be filed on or before the last date fixed for the filing of claims in the domiciliary receivership, conservator, or liquidation proceedings.
Source:
SL 1989, ch 436, §146; SL 2008, ch 271, §3.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 29B - Insurers Supervision, Rehabilitation And Liquidation › Section 58-29B-147 - Domiciliary receiver, conservator, or liquidator appointed for alien insurer--Appointment as ancillary receiver.

58-29B-147. Domiciliary receiver, conservator, or liquidator appointed for alien insurer--Appointment as ancillary receiver.
If a domiciliary receiver, conservator, or liquidator has been appointed for an insurer not domiciled in this state, the director may file a petition with the circuit court of Hughes County requesting appointment as ancillary receiver in this state:
(1)If the director finds that there are sufficient assets of the insurer located in this state to justify the appointment of an ancillary receiver; or
(2)If the protection of creditors or policyholders in this state so requires.
Source:
SL 1989, ch 436, §147; SL 2008, ch 271, §4.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 29B - Insurers Supervision, Rehabilitation And Liquidation › Section 58-29B-148 - Court may appoint ancillary receiver on terms deemed appropriate--Filing--Notice imparted.

58-29B-148. Court may appoint ancillary receiver on terms deemed appropriate--Filing--Notice imparted.
The court may issue an order appointing an ancillary receiver in whatever terms it deems appropriate. The filing or recording of the order with the register of deeds in this state imparts the same notice as a deed, bill of sale, or other evidence of title duly filed or recorded with that register of deeds.
Source:
SL 1989, ch 436, §148.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 29B - Insurers Supervision, Rehabilitation And Liquidation › Section 58-29B-149 - Duties and powers of ancillary receiver when domiciliary receiver, conservator, or liquidator appointed in reciprocal state.

58-29B-149. Duties and powers of ancillary receiver when domiciliary receiver, conservator, or liquidator appointed in reciprocal state.
If a domiciliary receiver, conservator, or liquidator has been appointed in a reciprocal state, then the ancillary receiver appointed in this state may, whenever necessary, aid and assist the domiciliary receiver, conservator, or liquidator in recovering assets of the insurer located in this state. The ancillary receiver shall, as soon as practicable, liquidate from their respective securities those special deposit claims and secured claims which are proved and allowed in the ancillary proceedings in this state, and shall pay the necessary expenses of the proceedings. The ancillary receiver shall promptly transfer all remaining assets, books, accounts, and records to the domiciliary receiver, conservator, or liquidator. The ancillary receiver and the receiver's deputies have the same powers and duties with respect to the administration of assets as a liquidator of an insurer domiciled in this state.
Source:
SL 1989, ch 436, §149; SL 2008, ch 271, §5.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 29B - Insurers Supervision, Rehabilitation And Liquidation › Section 58-29B-150 - Duties and powers of ancillary receivers, conservators, or liquidators when domiciliary liquidator appointed in this state.

58-29B-150. Duties and powers of ancillary receivers, conservators, or liquidators when domiciliary liquidator appointed in this state.
When a domiciliary liquidator has been appointed in this state, ancillary receivers, conservators, or liquidators appointed in reciprocal states shall have, as to assets and books, accounts, and other records in their respective states, corresponding rights, duties, and powers to those provided in this chapter for ancillary receivers appointed in this state.
Source:
SL 1989, ch 436, §150; SL 2008, ch 271, §6.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 29B - Insurers Supervision, Rehabilitation And Liquidation › Section 58-29B-151 - Director may institute proceedings under §§ 58-29B-13 to 58-29B-30.

58-29B-151. Director may institute proceedings under §§58-29B-13 to 58-29B-30.
The director in his sole discretion may institute proceedings under §§58-29B-13 to 58-29B-30, inclusive, at the request of the director or other appropriate insurance official of the domiciliary state of any foreign or alien insurer having property located in this state.
Source:
SL 1989, ch 436, §151.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 29B - Insurers Supervision, Rehabilitation And Liquidation › Section 58-29B-152 - Liquidation proceeding against insurer domiciled in state--Claimants residing in foreign countries or states not reciprocal--Filing.

58-29B-152. Liquidation proceeding against insurer domiciled in state--Claimants residing in foreign countries or states not reciprocal--Filing.
In a liquidation proceeding begun in this state against an insurer domiciled in this state, claimants residing in foreign countries or in states not reciprocal states shall file claims in this state, and claimants residing in reciprocal states may file claims either with the ancillary receivers, if any, in their respective states, or with the domiciliary liquidator. Claims shall be filed on or before the last date fixed for the filing of claims in the domiciliary liquidation proceeding.
Source:
SL 1989, ch 436, §152.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 29B - Insurers Supervision, Rehabilitation And Liquidation › Section 58-29B-153 - Proof of claims of residents in reciprocal states.

58-29B-153. Proof of claims of residents in reciprocal states.
Claims belonging to claimants residing in reciprocal states may be proved either in the liquidation proceeding in this state as provided in this chapter, or in ancillary proceedings, if any, in the reciprocal states. If notice of the claims and opportunity to appear and be heard is afforded the domiciliary liquidator of this state as provided in §58-29B-155, with respect to ancillary proceedings, the final allowance of claims by the court in ancillary proceedings in reciprocal states shall be conclusive as to amount and as to priority against special deposits or other security located in such ancillary state, but are not conclusive with respect to priorities against general assets under §58-29B-124.
Source:
SL 1989, ch 436, §153.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 29B - Insurers Supervision, Rehabilitation And Liquidation › Section 58-29B-154 - Proceeding in reciprocal state against domiciled insurer--Filing.

58-29B-154. Proceeding in reciprocal state against domiciled insurer--Filing.
In a liquidation proceeding in a reciprocal state against an insurer domiciled in that state, claimants against the insurer who reside within this state may file claims either with the ancillary receiver, if any, in this state, or with the domiciliary receiver, conservator, or liquidator. Claims shall be filed on or before the last dates fixed for the filing of claims in the domiciliary receivership, conservatorship, or liquidation proceeding.
Source:
SL 1989, ch 436, §154; SL 2008, ch 271, §7.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 29B - Insurers Supervision, Rehabilitation And Liquidation › Section 58-29B-155 - Proof of claims of South Dakota residents--Elections--Procedure.

58-29B-155. Proof of claims of South Dakota residents--Elections--Procedure.
Claims belonging to claimants residing in this state may be proved either in the domiciliary state under the law of that state, or in ancillary proceedings, if any, in this state. If a claimant elects to prove a claim in this state, the claimant shall file the claim with the liquidator in the manner provided in §§58-29B-103 to 58-29B-111, inclusive. The ancillary receiver shall make a recommendation to the court as under §§58-29B-125 and 58-29B-126. The ancillary receiver shall also arrange a date for hearing if necessary under §§58-29B-124 and 58-29B-125 and shall give notice to the receiver, conservator, or liquidator in the domiciliary state, either by registered or certified mail or by personal service at least forty days prior to the date set for hearing. If the domiciliary receiver, conservator, or liquidator, within thirty days after the giving of such notice, gives notice in writing to the ancillary receiver and to the claimant, either by registered or certified mail or by personal service, of the receiver's intention to contest the claim, the receiver is entitled to appear or to be represented in any proceeding in this state involving the adjudication of the claim.
Source:
SL 1982, ch 28, §18; SL 1989, ch 436, §155; SL 2008, ch 271, §8.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 29B - Insurers Supervision, Rehabilitation And Liquidation › Section 58-29B-156 - Final allowance by state courts conclusive as to amount and priority.

58-29B-156. Final allowance by state courts conclusive as to amount and priority.
The final allowance of the claim by the courts of this state shall be accepted as conclusive as to amount and as to priority against special deposits or other security located in this state.
Source:
SL 1989, ch 436, §156.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 29B - Insurers Supervision, Rehabilitation And Liquidation › Section 58-29B-157 - Attachment, garnishment, levy of execution prohibited during receivership, conservatorship, or liquidation proceedings.

58-29B-157. Attachment, garnishment, levy of execution prohibited during receivership, conservatorship, or liquidation proceedings.
During the pendency in this or any other state of a receivership, conservatorship, or liquidation proceeding, whether called by those names or not, no action or proceeding in the nature of an attachment, garnishment, or levy of execution may be commenced or maintained in this state against the delinquent insurer or its assets.
Source:
SL 1989, ch 436, §157; SL 2008, ch 271, §9.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 29B - Insurers Supervision, Rehabilitation And Liquidation › Section 58-29B-158 - Domiciliary state's order of distribution controls claims of residents of this and reciprocal states.

58-29B-158. Domiciliary state's order of distribution controls claims of residents of this and reciprocal states.
In a liquidation proceeding in this state involving one or more reciprocal states, the order of distribution of the domiciliary state shall control as to all claims of residents of this and reciprocal states. All claims of residents of reciprocal states shall be given equal priority of payment from general assets regardless of where such assets are located.
Source:
SL 1989, ch 436, §158.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 29B - Insurers Supervision, Rehabilitation And Liquidation › Section 58-29B-159 - Owners of special deposit claims--Priority--Deficiencies in deposit.

58-29B-159. Owners of special deposit claims--Priority--Deficiencies in deposit.
The owners of special deposit claims against an insurer for which a liquidator is appointed in this or any other state has priority against the special deposits in accordance with the statutes governing the creation and maintenance of the deposits. If there is a deficiency in any deposit, so that the claims secured by it are not fully discharged from it, the claimants may share in the general assets, but the sharing shall be deferred until general creditors, and also claimants against other special deposits who have received smaller percentages from their respective special deposits, have been paid percentages of their claims equal to the percentage paid from the special deposit.
Source:
SL 1989, ch 436, §159.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 29B - Insurers Supervision, Rehabilitation And Liquidation › Section 58-29B-160 - Owner of secured claim--Elections.

58-29B-160. Owner of secured claim--Elections.
The owner of a secured claim against an insurer for which a liquidator has been appointed in this or any other state may surrender his security and file his claim as a general creditor, or the claim may be discharged by resort to the security in accordance with §§58-29B-122 and 58-29B-123, in which case the deficiency, if any, shall be treated as a claim against the general assets of the insurer on the same basis as claims of unsecured creditors.
Source:
SL 1989, ch 436, §160.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 29B - Insurers Supervision, Rehabilitation And Liquidation › Section 58-29B-161 - Ancillary receiver's failure to transfer certain assets.

58-29B-161. Ancillary receiver's failure to transfer certain assets.
If an ancillary receiver in another state or foreign country, whether called by that name or not, fails to transfer to the domiciliary liquidator in this state any assets within his control other than special deposits, diminished only by the expenses of the ancillary receivership, if any, the claims filed in the ancillary receivership, other than special deposit claims or secured claims, shall be placed in the class of claims under subdivision 58-29B-124(7).
Source:
SL 1989, ch 436, §161.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 29C - Life And Health Insurance Guaranty Association › Section 58-29C-45 - Purpose of chapter--Creation of association.

58-29C-45. Purpose of chapter--Creation of association.
A. The purpose of this chapter is to protect, subject to certain limitations, the persons specified in subpart A of §58-29C-46 against failure in the performance of contractual obligations, under life, health, and annuity policies, plans, or contracts specified in subpart B of §58-29C-46, because of the impairment or insolvency of the member insurer that issued the policies, plans, or contracts.
B. To provide this protection, an association of member insurers is organized to pay benefits and to continue coverages as limited by this chapter, and members of the association are subject to assessment to provide funds to carry out the purpose of this chapter.
Source:
SL 2003, ch 252, §2; SL 2020, ch 210, § 1.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 29C - Life And Health Insurance Guaranty Association › Section 58-29C-49 - Continuation of association--Membership--Function and organization--Accounts--Supervision--Meetings.

58-29C-49. Continuation of association--Membership--Function and organization--Accounts--Supervision--Meetings.
A. There is hereby continued the nonprofit legal entity known as the South Dakota Life and Health Insurance Guaranty Association as created by former §58-29C-1. All member insurers shall be and remain members of the association as a condition of their authority to transact insurance in this state. The association shall perform its functions under the plan of operation established and approved under §58-29C-53 and shall exercise its powers through a board of directors established under §58-29C-50. For purposes of administration and assessment, the association shall maintain two accounts:
(1)The life insurance and annuity account which includes the following subaccounts:
(a)Life insurance account; and
(b)Annuity account; and
(2)The health insurance account.
B. The association shall come under the immediate supervision of the director and shall be subject to the applicable provisions of the insurance laws of this state. Meetings or records of the association may be opened to the public upon majority vote of the board of directors of the association.
Source:
SL 2003, ch 252, §6; SL 2013, ch 252, §3.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 29C - Life And Health Insurance Guaranty Association › Section 58-29C-50 - Board of directors--Appointment and term--Vacancies--Compensation.

58-29C-50. Board of directors--Appointment and term--Vacancies--Compensation.
A. The board of directors of the association shall consist of not less than seven nor more than eleven member insurers serving terms as established in the plan of operation. The insurer members of the board shall be elected by member insurers subject to the approval of the director. Vacancies on the board shall be filled for the remaining period of the term by a majority vote of the remaining board members, subject to the approval of the director.
B. In approving selections or in appointing members to the board, the director may consider whether all member insurers are fairly represented.
C. Members of the board may be reimbursed from the assets of the association for expenses incurred as members of the board of directors, but members of the board may not otherwise be compensated by the association for services rendered.
Source:
SL 2003, ch 252, §7; SL 2020, ch 210, § 4.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 29C - Life And Health Insurance Guaranty Association › Section 58-29C-54 - Duties and powers of director.

58-29C-54. Duties and powers of director.
In addition to the duties and powers enumerated elsewhere in this chapter,
A. The director shall:
(1)Upon request of the board of directors, provide the association with a statement of the premiums in this and any other appropriate states for each member insurer;
(2)When an impairment is declared and the amount of the impairment is determined, serve a demand upon the impaired insurer to make good the impairment within a reasonable time; notice to the impaired insurer shall constitute notice to its shareholders, if any; the failure of the insurer to promptly comply with such demand shall not excuse the association from the performance of its powers and duties under this chapter.
B. The director may suspend or revoke, after notice and hearing, the certificate of authority to transact insurance in this state of any member insurer which fails to pay an assessment when due or fails to comply with the plan of operation. As an alternative the director may levy a forfeiture on any member insurer that fails to pay an assessment when due. The forfeiture may not exceed five percent of the unpaid assessment per month, but no forfeiture shall be less than one hundred dollars per month.
C. A final action of the board of directors or the association may be appealed to the director by a member insurer if the appeal is taken within sixty days of its receipt of notice of the final action being appealed. A final action or order of the director shall be subject to judicial review in a court of competent jurisdiction in accordance with the laws of this state that apply to the actions or orders of the director.
D. The liquidator, rehabilitator, or conservator of an impaired or insolvent insurer may notify all interested persons of the effect of this chapter.
Source:
SL 2003, ch 252, §11; SL 2013, ch 252, §7.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 29C - Life And Health Insurance Guaranty Association › Section 58-29C-56 - Member assessment as offset against premium tax liability.

58-29C-56. Member assessment as offset against premium tax liability.
A. A member insurer may offset against its premium tax liability to this state an assessment described in subpart 58-29C-52H to the extent of twenty percent of the amount of the assessment for each of the five calendar years following the year in which the assessment was paid. If the assessment is five hundred dollars or less, the member insurer shall take the total offset in the first year following the year in which the assessment was paid. However, total assessments offset against premium taxes may not exceed two million dollars in any year. If offsets exceed the annual limitation in this section, the excess may be carried forward to a subsequent year in which the annual limitation has not been exceeded. Any excess shall be apportioned among the contributing insurers in relation to their assessment that caused the limit to be exceeded. In the event a member insurer should cease doing business, all uncredited assessments may be credited against its premium tax liability for the year it ceases doing business.
B. Any sums that are acquired by refund, pursuant to subpart 58-29C-52F, from the association by member insurers, and that have been offset against premium taxes as provided in subpart A of this section, shall be paid by the insurers to this state in such manner as the tax authorities may require. The association shall notify the director that refunds have been made.
Source:
SL 2003, ch 252, §13.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 29C - Life And Health Insurance Guaranty Association › Section 58-29C-58 - Association subject to regulation by director--Financial report.

58-29C-58. Association subject to regulation by director--Financial report.
The association is subject to examination and regulation by the director. The board of directors shall submit to the director each year, not later than one hundred twenty days after the association's fiscal year, a financial report in a form approved by the director and a report of its activities during the preceding fiscal year. Upon the request of a member insurer, the association shall provide the member insurer with a copy of the report.
Source:
SL 2003, ch 252, §15.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 29C - Life And Health Insurance Guaranty Association › Section 58-29C-59 - Association's tax exemption status.

58-29C-59. Association's tax exemption status.
The association shall be exempt from payment of all fees and all taxes levied by this state or any of its subdivisions, except taxes levied on real property.
Source:
SL 2003, ch 252, §16.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 29C - Life And Health Insurance Guaranty Association › Section 58-29C-60 - No liability for performance of powers and duties of association or its members.

58-29C-60. No liability for performance of powers and duties of association or its members.
There is no liability on the part of and no cause of action of any nature may arise against any member insurer or its agents or employees, the association or its agents or employees, members of the board of directors, or the director or the director's representatives, for any action or omission by them in the performance of their powers and duties under this chapter. This immunity shall extend to the participation in any organization of one or more other state associations of similar purposes and to any such organization and its agents or employees.
Source:
SL 2003, ch 252, §17; SL 2013, ch 252, §9.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 29C - Life And Health Insurance Guaranty Association › Section 58-29C-61 - Stay of proceedings against insolvent insurer--Default judgment set aside.

58-29C-61. Stay of proceedings against insolvent insurer--Default judgment set aside.
All proceedings in which the insolvent insurer is a party in any court in this state shall be stayed one hundred eighty days from the date an order of liquidation, rehabilitation, or conservation is final to permit proper legal action by the association on any matters germane to its powers or duties. As to judgment under any decision, order, verdict, or finding based on default the association may apply to have such judgment set aside by the same court that made such judgment and shall be permitted to defend against such suit on the merits.
Source:
SL 2003, ch 252, §18; SL 2013, ch 252, §10.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 29D - Regulation Of Life And Health Administrators › Section 58-29D-1 - Definition of terms.

58-29D-1. Definition of terms.
Terms used in this chapter mean:
(1)"Affiliate" or "affiliated," any entity or person who directly or indirectly through one or more intermediaries, controls or is controlled by, or is under common control with, a specified entity or person;
(2)"Underwrites" or "underwriting," the acceptance of employer or individual applications for coverage of individuals in accordance with the written rules of the insurer; the overall planning and coordinating of an insurance program; and the ability to procure bonds and excess insurance.
Source:
SL 1992, ch 352, §1.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 29D - Regulation Of Life And Health Administrators › Section 58-29D-3 - Insurer defined.

58-29D-3. Insurer defined.
For the purposes of this chapter, an insurer is any person undertaking to provide workers' compensation, life or health insurance coverage in this state. An insurer includes a licensed insurance company, a prepaid hospital or medical care plan, a health maintenance organization, a multiple employer welfare arrangement, or any other person providing a plan of insurance subject to state insurance regulation. The term, insurer, does not include a bona fide employee benefit plan established by an employer or an employee organization, or both, for which the insurance laws of this state are preempted pursuant to the Employee Retirement Income Security Act of 1974.
Source:
SL 1992, ch 352, §3; SL 2001, ch 285, §2.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 29D - Regulation Of Life And Health Administrators › Section 58-29D-4 - Written agreement between administrator and insurer.

58-29D-4. Written agreement between administrator and insurer.
No administrator may act as such without a written agreement between the administrator and the insurer, and such written agreement shall be retained as part of the official records of both the insurer and the administrator for the duration of the agreement and for five years thereafter. The agreement shall contain all provisions required by this chapter, except insofar as those requirements do not apply to the functions performed by the administrator.
Source:
SL 1992, ch 352, §4.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 29D - Regulation Of Life And Health Administrators › Section 58-29D-5 - Provisions of written agreement.

58-29D-5. Provisions of written agreement.
The written agreement shall include a statement of duties which the administrator is expected to perform on behalf of the insurer and the lines, classes, or types of insurance for which the administrator is to be authorized to administer. The agreement shall make provision with respect to underwriting or other standards pertaining to the business underwritten by such insurer.
Source:
SL 1992, ch 352, §5.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 29D - Regulation Of Life And Health Administrators › Section 58-29D-6 - Termination of written agreement--Suspension of underwriting authority--Dispute.

58-29D-6. Termination of written agreement--Suspension of underwriting authority--Dispute.
The insurer or administrator may, with written notice, terminate the written agreement for cause as provided in the agreement. The insurer may suspend the underwriting authority of the administrator during the pendency of any dispute regarding the cause for termination of the written agreement. The insurer must fulfill any lawful obligations with respect to policies affected by the written agreement, regardless of any dispute between the insurer and the administrator. The insurer must file the notice and the reason for termination with the director within thirty days of such termination.
Source:
SL 1992, ch 352, §6.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 29D - Regulation Of Life And Health Administrators › Section 58-29D-7 - Status of payment of premiums and return premiums or claim payments to administrator.

58-29D-7. Status of payment of premiums and return premiums or claim payments to administrator.
If an insurer utilizes the services of an administrator, the payment to the administrator of any premiums or charges for insurance by or on behalf of the insured party shall be deemed to have been received by the insurer, and the payment of return premiums or claim payments forwarded by the insurer to the administrator may not be deemed to have been paid to the insured party or claimant until such payments are received by the insured party or claimant. Nothing in this section limits any right of the insurer against the administrator resulting from the failure of the administrator to make payments to the insurer, insured parties or claimants.
Source:
SL 1992, ch 352, §7.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 29D - Regulation Of Life And Health Administrators › Section 58-29D-8 - Recordkeeping by administrator.

58-29D-8. Recordkeeping by administrator.
Every administrator shall maintain and make available to the insurer complete books and records of all transactions performed on behalf of the insurer. The books and records shall be maintained in accordance with prudent standards of insurance record keeping and must be maintained for a period of not less than five years from the date of their creation.
Source:
SL 1992, ch 352, §8.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 29D - Regulation Of Life And Health Administrators › Section 58-29D-9 - Director's access to administrator's records--Confidentiality.

58-29D-9. Director's access to administrator's records--Confidentiality.
The director shall have access to books and records maintained by an administrator for the purposes of examination, audit, and inspection. Any trade secrets contained in such books and records, including the identity and addresses of policyholders and certificate holders, shall be kept confidential, except that the director may use such information in any proceeding instituted against the administrator.
Source:
SL 1992, ch 352, §9.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 29D - Regulation Of Life And Health Administrators › Section 58-29D-10 - Insurer's ownership of administrator's records.

58-29D-10. Insurer's ownership of administrator's records.
The insurer shall own the records generated by the administrator pertaining to the insurer. However, the administrator shall retain the right to continuing access to books and records to permit the administrator to fulfill all of its contractual obligations to insured parties, claimants, and the insurer.
Source:
SL 1992, ch 352, §10.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 29D - Regulation Of Life And Health Administrators › Section 58-29D-11 - Transfer of records to new administrator.

58-29D-11. Transfer of records to new administrator.
In the event the insurer and the administrator cancel their agreement, notwithstanding the provisions of §58-29D-8, the administrator may, by written agreement with the insurer, transfer all records to a new administrator rather than retain them for five years. In such cases, the new administrator shall acknowledge, in writing, that it is responsible for retaining the records for the prior administrator as required in §58-29D-8.
Source:
SL 1992, ch 352, §11.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 29D - Regulation Of Life And Health Administrators › Section 58-29D-12 - Advertising--Approval of insurer.

58-29D-12. Advertising--Approval of insurer.
An administrator may use only such advertising pertaining to the business underwritten by an insurer as has been approved in writing by the insurer in advance of its use.
Source:
SL 1992, ch 352, §12.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 29D - Regulation Of Life And Health Administrators › Section 58-29D-13 - Insurer responsibility for procedures and administration of its programs--Review and audit of administrator.

58-29D-13. Insurer responsibility for procedures and administration of its programs--Review and audit of administrator.
If an insurer utilizes the services of an administrator, the insurer shall be responsible for determining the benefits, premium rates, underwriting criteria and claims payment procedures applicable to such coverage and for securing reinsurance, if any. The rules pertaining to these matters shall be provided, in writing, by the insurer to the administrator. The responsibilities of the administrator as to any of these matters shall be set forth in the written agreement between the administrator and the insurer. It is the sole responsibility of the insurer to provide for competent administration of its programs.
In cases where an administrator administers benefits for more than one hundred certificate holders on behalf of an insurer, the insurer shall, at least semiannually, conduct a review of the operations of the administrator. At least one such review shall be an on-site audit of the operations of the administrator.
Source:
SL 1992, ch 352, §13.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 29D - Regulation Of Life And Health Administrators › Section 58-29D-14 - Fiduciary capacity of administrator--Accounting of underwriting transactions.

58-29D-14. Fiduciary capacity of administrator--Accounting of underwriting transactions.
All insurance charges or premiums collected by an administrator on behalf of or for an insurer or insurers, and the return of premiums received from that insurer or insurers, shall be held by the administrator in a fiduciary capacity. Such funds shall be immediately remitted to the person or persons entitled to them or shall be deposited promptly in a fiduciary account established and maintained by the administrator in a federally or state insured financial institution. The written agreement between the administrator and the insurer shall provide for the administrator to periodically render an accounting to the insurer detailing all transactions performed by the administrator pertaining to the business underwritten by the insurer.
Source:
SL 1992, ch 352, §14.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 29D - Regulation Of Life And Health Administrators › Section 58-29D-15 - Records of deposits and withdrawals from fiduciary account.

58-29D-15. Records of deposits and withdrawals from fiduciary account.
If charges or premiums deposited in a fiduciary account have been collected on behalf of or for one or more insurers, the administrator shall keep records clearly recording the deposits in and withdrawals from the account on behalf of each insurer. The administrator shall keep copies of all the records and, upon request of an insurer, shall furnish the insurer with copies of the records pertaining to such deposits and withdrawals.
Source:
SL 1992, ch 352, §15.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 29D - Regulation Of Life And Health Administrators › Section 58-29D-16 - Provisions in written agreement as to withdrawals from fiduciary account.

58-29D-16. Provisions in written agreement as to withdrawals from fiduciary account.
The administrator may not pay any claim by withdrawals from a fiduciary account in which premiums or charges are deposited. Withdrawals from such account shall be made as provided in the written agreement between the administrator and the insurer. The written agreement shall address the following:
(1)Remittance to an insurer entitled to remittance;
(2)Deposit in an account maintained in the name of the insurer;
(3)Transfer to and deposit in a claims-paying account;
(4)Payment to a group policyholder for remittance to the insurer entitled to such remittance;
(5)Payment to the administrator of its commissions, fees or charges; or
(6)Remittance of return premium to the person or persons entitled to such return premium.
Source:
SL 1992, ch 352, §16; SL 2021, ch 210, § 19.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 29D - Regulation Of Life And Health Administrators › Section 58-29D-18 - Compensation of administrator.

58-29D-18. Compensation of administrator.
An administrator may not enter into any agreement or understanding with an insurer in which the effect is to make the amount of the administrator's commissions, fees, or charges contingent upon savings effected in the adjustment, settlement, and payment of losses covered by the insurer's obligations. This section may not prevent the compensation of an administrator from being based on premiums or charges collected or the number of claims paid or processed. This section does not prohibit an administrator from receiving performance-based compensation for providing hospital and other auditing services.
Source:
SL 1992, ch 352, §18; SL 2013, ch 253, §1.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 29D - Regulation Of Life And Health Administrators › Section 58-29D-19 - Notice of use of administrator to policyholder--Itemized charges--Disclosure of fees or commissions.

58-29D-19. Notice of use of administrator to policyholder--Itemized charges--Disclosure of fees or commissions.
When the services of an administrator are utilized, the administrator shall provide a written notice approved by the insurer to covered individuals advising them of the identity of, and relationship among, the administrator, the policyholder, and the insurer.
When an administrator collects funds, the reason for collection of each item must be identified to the insured party and each item must be shown separately from any premium. Additional charges may not be made for services to the extent the services have been paid for by the insurer.
The administrator shall disclose to the insurer all charges, fees, and commissions received from all services in connection with the provision of administrative services for such insurer, including any fees or commissions paid by insurers providing reinsurance.
Source:
SL 1992, ch 352, §19.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 29D - Regulation Of Life And Health Administrators › Section 58-29D-20 - Delivery of written communications from insurer.

58-29D-20. Delivery of written communications from insurer.
Any policies, certificates, booklets, termination notices, or other written communications delivered by the insurer to the administrator for delivery to insured parties or covered individuals shall be delivered by the administrator promptly after receipt of instructions from the insurer to deliver them.
Source:
SL 1992, ch 352, §20.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 29D - Regulation Of Life And Health Administrators › Section 58-29D-20.1 - Annual report to employer of self-funded health benefit plan claims experience.

58-29D-20.1. Annual report to employer of self-funded health benefit plan claims experience.
Any administrator for an employer self-funded health benefit plan shall provide, at the written request of the employer, annual reports of the claims experience of that employer for the immediate past policy period and for any time frame that is not more than three years prior to the policy period in which the request was made. No administrator is required to provide any claims information that pertains to a prior administrator's experience with that employer. The claims report shall be of sufficient detail so as to provide the employer with the data necessary to assess the employer's future health benefit coverage needs and shall be provided to the employer within thirty days of receipt of the written request of the employer.
Source:
SL 2006, ch 261, §1.
2023 South Dakota Codified Laws › Title 58 - Insurance › Chapter 29D - Regulation Of Life And Health Administrators › Section 58-29D-21 - Administrator's license or registration required.

58-29D-21. Administrator's license or registration required.
No person may act as, or offer to act as, or hold himself out to be an administrator in this state without a valid license or registration as an administrator issued by the director.
Source:
SL 1992, ch 352, §21; SL 2001, ch 285, §3.