STATE STATUTES & CODES

SOUTH DAKOTA STATUTES AND CODES

Chapter 06 - Authority To Transact Insurance In State

• Section 58-6-1 - Certificate of authority required for transaction of insurance business--Exceptions--Violation as misdemeanor.
• Section 58-6-2 - Solicitation of insurance or transacting business in another state by insurer in thisstate without certificate of authority prohibited--Misdemeanor.
• Section 58-6-3 - Preemption of field of insurance regulation by state--Licensing by politicalsubdivisions prohibited.
• Section 58-6-4 - Activities excepted from certificate of authority requirements.
• Section 58-6-5 - Foreign insurer--Investments in state without a certificate of authority.
• Section 58-6-6 - Eligibility of insurer for certificate of authority.
• Section 58-6-7 - Eligibility of insurer for certificate of authority--Necessity for maintenance ofrequired reserves.
• Section 58-6-8 - Denial of authority to engage in business when contrary to public interest--Denialwhen managed by unqualified personnel--Affiliates.
• Section 58-6-9 - Continuance of authorization of prior authorized mutual and stock insurers--Participating policyholders--Quorum--Proxies--Issuance of nonvoting participatingpolicies.
• Section 58-6-10 - Governmentally owned insurers prohibited--Exceptions.
• Section 58-6-11 - Readmission to state as an authorized insurer--Requirements--Payment of backpremium taxes.
• Section 58-6-12 - Unauthorized insurers--Application of insurer violating insurance laws for authorityto transact insurance in state--Payment of back premium taxes.
• Section 58-6-13 - Foreign insurance companies--Compliance with requirements for admission to dobusiness in state--Waiver.
• Section 58-6-14 - Use of deceptively similar name prohibited.
• Section 58-6-15 - Use of deceptively similar name by life insurer prohibited for ten years.
• Section 58-6-16 - Use of name deceptively similar to name of foreign insurer prohibited.
• Section 58-6-17 - Name tending to deceive or mislead as to type of organization of insurer prohibited.
• Section 58-6-18 - Prevention of confusing similarity of names by director.
• Section 58-6-19 - Combination of insuring power of one insurer--Exception.
• Section 58-6-20 - Life insurer--Kinds of business authorized, exception.
• Section 58-6-21 - Reciprocal insurer--Transaction of life or title insurance prohibited.
• Section 58-6-22 - Title insurer--Transaction of other insurance prohibited.
• Section 58-6-23 - Paid-in capital and surplus requirements for certificate of authority.
• Section 58-6-24 - Determination of capital and surplus requirements for certificate of authority.
• Section 58-6-25 - Additional types of insurance--Request for authority to transact within three yearsafter issuance of initial certificate--Basic surplus or additional surplus required.
• Section 58-6-26 - Surplus to qualify to transact one or more kinds of insurance by domestic mutual andreciprocal insurers--Laws governing.
• Section 58-6-27 - Continuation of authority of insurer holding prior certificate--Maintenance of capitalstock or surplus requirements.
• Section 58-6-28 - Additional kinds of insurance authorized for insurer holding prior certificate--Capitaland surplus requirements.
• Section 58-6-29 - Annuities--Granting by life insurer without additional capital or surplus.
• Section 58-6-30 - Health insurer issuing insurance against congenital defects without additional capitalor surplus.
• Section 58-6-31 - Casualty insurer transacting health insurance without additional capital or surplus.
• Section 58-6-32 - Property insurer including additional kinds of insurance without additional capital orsurplus.
• Section 58-6-33 - Deposit by all insurers--Exceptions.
• Section 58-6-34 - Deposits through director--Purpose--Amounts required--Deposits in other states inlieu of deposit with director.
• Section 58-6-35 - Deposits of foreign or alien insurers in another state--Quality of cash or securities.
• Section 58-6-36 - Deposit of title insurer--Amount required.
• Section 58-6-37 - Deposit of title insurer as guaranty fund--Purpose.
• Section 58-6-38 - Application for initial certificate of authority--Documents accompanying.
• Section 58-6-39 - Service of process through director.
• Section 58-6-40 - Time for approval or disapproval of original certificate--Extension--Failure todisapprove deemed approval.
• Section 58-6-41 - Kinds of insurance specified in certificate--Limitations within class.
• Section 58-6-42 - Annual reissuance of certificate not required--Annual renewal fee--Expiration ofcertificate.
• Section 58-6-43 - Foreign insurer exempt from foreign corporation laws.
• Section 58-6-44 - Refusal to renew or suspension or revocation of certificate, grounds.
• Section 58-6-45 - Hearing required on refusal to issue, suspension or revocation of certificate.
• Section 58-6-46 - Violation of law by insurer or failure to comply with lawful order of director--Refusal to renew, suspension, or revocation of certificate of authority.
• Section 58-6-47 - Suspension or revocation of certificate after hearing, grounds.
• Section 58-6-48 - Suspension of certificate on commencement of delinquency proceedings.
• Section 58-6-49 - Order of suspension, revocation, or refusal to renew certificate of authority.
• Section 58-6-50 - Notice to insurance producers of suspension, revocation, or refusal to renewcertificate--Insurance Producers' authority.
• Section 58-6-51 - Publication of notice of suspension, revocation, or refusal to renew certificate ofauthority.
• Section 58-6-52 - Duration of suspension of certificate of authority--Rescission or shortening.
• Section 58-6-53 - Rights and obligations of insurer during suspension.
• Section 58-6-54 - Reinstatement of certificate of authority which has not terminated where cause forsuspension no longer exists.
• Section 58-6-55 - Reinstatement of authority of insurance producers--Notice to insurer and insuranceproducers.
• Section 58-6-56 - Suspension, revocation, or refusal to renew certificate because of deficiency of assetsor impairment of capital or surplus--Cessation of business in state.
• Section 58-6-57 - Failure to notify or continuation of business after notice as felony.
• Section 58-6-58 - Impairment of assets, capital, or surplus--Suspension, revocation, or refusal to renewcertificate of authority--Rehabilitator or receiver of insurer not required to notifyagents.
• Section 58-6-59 - Liability of officers and directors of impaired insurers.
• Section 58-6-60 - Notice to insurer and insurance producers of refusal, suspension, or revocation ofcertificate.
• Section 58-6-61 - Suspension or revocation of authority of insurance producers--Notice by director.
• Sections 58-6-62 to 58-6-64 - Repealed
• Sections 58-6-65, 58-6-66 - Repealed
• Section 58-6-67 - Contract not invalidated by violation of countersignature requirements.
• Section 58-6-68 - Insurers subject to taxation--Filing of returns and reports--Exemption of qualifiedpension, annuity, or profit-sharing plans.
• Section 58-6-69 - Report and payment of tax by surplus line brokers.
• Section 58-6-70 - Retaliatory tax provisions--Exception.
• Sections 58-6-71, 58-6-72 - Exemption from retaliatory tax provisions. Domicile of alien insurer for retaliatory tax purposes
• Section 58-6-73 - Domicile of Canadian insurer for retaliatory tax purposes.
• Section 58-6-74 - Dissolution or retirement of insurer during year--Filing of reports and collection oftaxes not defeated.
• Section 58-6-75 - Annual and quarterly statement of financial condition of insurer--Filing with director--Form and contents--Timeliness of filing.
• Section 58-6-76 - Summary of statement of financial condition of insurer--Publication by director.
• Section 58-6-77 - Time for publication of summary statement by director--Publication in judicialcircuits.
• Section 58-6-78 - Director to supply summary statement to each legal newspaper published in eachjudicial circuit--Recognition of legal newspaper.
• Section 58-6-79 - Publication requirements do not apply to fraternal or benevolent life associationtransactions nor to mutual insurance companies or associations.