South Dakota Codified Laws 58-26-34. Reserve for liability policies written during three years preceding
For all liability policies written during the three years immediately preceding the date as of which the statement is made, the reserve required by § 58-26-31 shall be calculated in accordance with the Annual Statement Instructions Manual prescribed by the National Association of Insurance Commissioners as adopted by rule by the director pursuant to chapter 1-26. But in any event, the reserve may not be less than the determined and estimated unpaid claims under policies written during the three–year period. For all liability policies written more than three years prior to the date as of which the statement is made, the reserves required by § 58-26-31 shall be determined and estimated unpaid claims.
Terms Used In South Dakota Codified Laws 58-26-34
- 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
Source: SL 1966, ch 111, ch 5, § 8 (2); SL 1995, ch 284, § 45.