§ 58-5A-1 Definitions
§ 58-5A-2 “Domestic insurer” defined
§ 58-5A-3 Acquisition of control of or merger with domestic insurer–Information statement required–Approval by director required–Violation as misdemeanor
§ 58-5A-3.1 Divestiture of controlling interest in domestic insurer–Notice to director and insurer
§ 58-5A-4 Contents of information statement–Violation as misdemeanor
§ 58-5A-5 Information statement required of partners or members of syndicate or group–Violation as misdemeanor
§ 58-5A-6 Information required of corporations, officers, directors and certain owners of voting securities–Violation as misdemeanor
§ 58-5A-7 Amendment of information statement–Violation as misdemeanor
§ 58-5A-8 Federal or state registration statements utilized in furnishing information
§ 58-5A-9 Approval by director of acquisition or merger–Grounds for disapproval
§ 58-5A-9.1 Disapproval of dividends or distributions for violation–Order of supervision
§ 58-5A-10 Time of hearing–Notice
§ 58-5A-10.1 Request for public hearing on consolidated basis
§ 58-5A-11 Procedure at hearing–Evidence admissible
§ 58-5A-11.1 Cost of hearing officer–Retention of various experts at acquiring person’s expense
§ 58-5A-12 Time for director’s determination after hearing
§ 58-5A-13 Statements and notices mailed to shareholders–Expenses of mailing–Security required
§ 58-5A-15 Mergers and consolidations exempt from information and approval requirements
§ 58-5A-16 Acquisitions exempt from information and approval requirements by order of director
§ 58-5A-18 Acquisition, divestiture, or merger without approval as misdemeanor
§ 58-5A-19 Jurisdiction of court in Hughes County–Director as attorney for service of process
§ 58-5A-20 Registration of subsidiary insurer–Time for registration–Statement required of foreign insurer
§ 58-5A-21 Form and contents of registration statement
§ 58-5A-22 Initial and annual registration fees
§ 58-5A-23 Disclosure of immaterial information not required
§ 58-5A-24 Report of changes required of registered insurer
§ 58-5A-25 Termination of registration
§ 58-5A-26 Consolidated registration statement or report by affiliated insurers
§ 58-5A-27 Registration by insurer on behalf of affiliated insurer
§ 58-5A-28 Insurer exempt from registration requirements on order of director
§ 58-5A-29 Disclaimer of affiliation–Contents–Procedure on disallowance
§ 58-5A-29.1 Annual enterprise risk report
§ 58-5A-30 Failure to file registration statement or enterprise risk report–Penalty–Waiver
§ 58-5A-31 Registration requirements satisfied by duplicate copies of federal filings
§ 58-5A-32 Standards for material transactions by registered insurers with affiliates–Nonconformity
§ 58-5A-34 Adequacy of insurer’s surplus–Factors considered
§ 58-5A-35 Notice to director of extraordinary distribution–Approval by director
§ 58-5A-36 Application for approval of extraordinary distribution–Contents
§ 58-5A-37 Examination of insurers and affiliates
§ 58-5A-38 Grounds for director’s examination
§ 58-5A-38.1 Production of records, books, and other information
§ 58-5A-38.2 Examination of registered insurer’s affiliates to obtain information
§ 58-5A-39 Personnel employed by department for conduct of examination
§ 58-5A-40 Insurer to pay expense of examination
§ 58-5A-41 Confidentiality of information in possession or control of Division–Use in regulatory or legal action–Grounds for publication by director
§ 58-5A-41.1 Testimony in private civil action concerning confidential information prohibited
§ 58-5A-41.2 Certain sharing of confidential information permitted
§ 58-5A-41.3 Agreements regarding sharing of confidential information
§ 58-5A-41.4 Information in possession or control of NAIC confidential
§ 58-5A-41.5 Confidentiality not waived by disclosure of information
§ 58-5A-43 Acquisition of subsidiaries–Limitations
§ 58-5A-44 Disposition of investment in subsidiary upon cessation of control–Waiver
§ 58-5A-45 Pre-acquisition notification–“Person” defined
§ 58-5A-46 “Acquisition” and “Involved insurer” defined–Limited application
§ 58-5A-48 Pre-acquisition notification–Contents–Waiting period
§ 58-5A-49 Action by director when acquisition lessens competition–Promulgation of rules establishing competitive standards
§ 58-5A-51 Plan for limiting anticompetitive impact of acquisition–Time limit
§ 58-5A-52 Fine, suspension, or revocation for violation of cease and desist order
§ 58-5A-53 Failure to comply with filing requirements–Fine
§ 58-5A-54 Report of dividends and distributions to shareholders–Time limit
§ 58-5A-55 Persons subject to registration to provide complete and accurate information to insurer
§ 58-5A-56 Notification to director of certain transactions required
§ 58-5A-57 Transactions entered into to avoid director’s review prohibited
§ 58-5A-58 Considerations in decision to approve or disapprove transactions
§ 58-5A-59 Notification to director of certain investments into one corporation
§ 58-5A-60 Certain securities not to be voted at shareholder’s meeting–Application for injunction
§ 58-5A-61 Petition to seize or sequester voting securities acquired in violation of chapter
§ 58-5A-62 Violations by officers subject to fine–Determining amount of fine
§ 58-5A-63 Transactions or contracts entered into without approval–Cease and desist order by director
§ 58-5A-64 Criminal proceedings for violation committed knowingly–Fine
§ 58-5A-65 False statements, reports, or filings as felony
§ 58-5A-66 Order for conservation, liquidation, or rehabilitation–Distribution and recovery–Liability
§ 58-5A-67 Suspension, revocation, or refusal to renew license for violation
§ 58-5A-68 Stay of director’s action upon appeal to circuit court
§ 58-5A-69 Order by director upon violation of standards–Cease and desist–Denial of license
§ 58-5A-70 Promulgation of rules by director
§ 58-5A-72 Ownership situs of voting securities
§ 58-5A-73 Additional investments by domestic insurer
§ 58-5A-74 Determining whether investments meet applicable requirements
§ 58-5A-76 Application to insurer not a member of same holding company
§ 58-5A-77 Dividends paid from earned surplus–Exclusions–Promulgation of rules for ordinary dividends
§ 58-5A-78 Director’s participation in supervisory college to determine insurer compliance
§ 58-5A-79 Expenses of director’s participation in supervisory college
§ 58-5A-80 Director’s participation in supervisory college with other regulators
§ 58-5A-80.1 Internationally active insurance group–Supervision
§ 58-5A-80.2 International active insurance group–Group-wide supervisor determination
§ 58-5A-80.3 Internationally active insurance group–Group-wide supervisor acknowledgment
§ 58-5A-80.4 Group-wide supervisor–Information for determination
§ 58-5A-80.5 Group-wide supervisor–Director supervision–Permitted activities
§ 58-5A-80.6 Group-wide supervisor–Director cooperation
§ 58-5A-80.7 Information sharing
§ 58-5A-80.8 Promulgation of rules
§ 58-5A-80.9 Reasonable expenses
§ 58-5A-81 Maintenance of risk management framework
§ 58-5A-82 Regular conduct of ORSA
§ 58-5A-83 Submission of ORSA summary report or comparable reports to division
§ 58-5A-84 ORSA summary report requirements
§ 58-5A-85 Exemption from requirements
§ 58-5A-86 Requirements where insurer or insurer’s group does not qualify for exemption
§ 58-5A-87 Insurer’s application for waiver
§ 58-5A-88 One year period to comply with requirements following loss of qualification for exemption
§ 58-5A-89 Conditions under which director may require maintenance of risk management framework, conduct of ORSA, and filing of ORSA summary report
§ 58-5A-90 Confidentiality of information submitted to division
§ 58-5A-91 Powers and duties of director regarding ORSA
§ 58-5A-92 Sharing of information and documents by director–Confidentiality
§ 58-5A-93 Promulgation of rules regarding ORSA
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Terms Used In South Dakota Codified Laws > Title 58 > Chapter 5A - Insurance Holding Companies

  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Contract: A legal written agreement that becomes binding when signed.
  • Conviction: A judgement of guilt against a criminal defendant.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Oversight: Committee review of the activities of a Federal agency or program.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Person: includes natural persons, partnerships, associations, cooperative corporations, limited liability companies, and corporations. See South Dakota Codified Laws 2-14-2
  • Property: includes property, real and personal. See South Dakota Codified Laws 2-14-2
  • Quorum: The number of legislators that must be present to do business.
  • Sequester: To separate. Sometimes juries are sequestered from outside influences during their deliberations.
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • State: when used in context signifying a jurisdiction other than the State of South Dakota, a state, the District of Columbia, a territory, commonwealth, or possession of the United States of America, or a province of the Dominion of Canada. See South Dakota Codified Laws 58-1-2
  • Statute: A law passed by a legislature.
  • Subpoena: A command to a witness to appear and give testimony.
  • Testify: Answer questions in court.
  • written: include typewriting and typewritten, printing and printed, except in the case of signatures, and where the words are used by way of contrast to typewriting and printing. See South Dakota Codified Laws 2-14-2