Section 58-17-119 - Administrative functions of board--Annual report to Legislature--Contents. - South Dakota Statutes

58-17-119. Administrative functions of board--Annual report to Legislature--Contents. The board shall perform its functions in such a manner as to assure the fair and reasonable administration of the risk pool and to provide for the sharing of risk pool losses, if any, on an equitable and proportionate basis among the carriers. In addition to other requirements, the board is responsible for all of the following:
(1) The handling and accounting of assets and moneys of the risk pool;
(2) Procedures for assessing the carriers in proportion to the number of persons they cover through primary, excess, and stop loss insurance in this state;
(3) Methods for ensuring that all risk pool enrollees are and continue to be eligible for the risk pool; and
(4) Additional provisions necessary or proper for the execution of the powers and duties of the risk pool.
The board shall file a report with the Legislature each year on or before January first, which shall include information regarding the operation of the risk pool, such as assessments, numbers of enrollees, claims, expenses, and premiums.

Source: SL 2003 (SS), ch 1, § 7.