South Dakota Codified Laws 58-5A-80.1. Internationally active insurance group–Supervision
The director may act as the group-wide supervisor for any internationally active insurance group in accordance with the provisions of this section. The director may also acknowledge another regulatory official as the group-wide supervisor if the internationally active insurance group:
(1) Does not have substantial insurance operations in the United States;
Terms Used In South Dakota Codified Laws 58-5A-80.1
- 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
(2) Has substantial insurance operations in the United States, but not in this state; or
(3) Has substantial insurance operations in the United States and this state, but the director has determined pursuant to the factors set forth in § 58-5A-80.2 that another regulatory official is the appropriate group-wide supervisor.
An insurance holding company system that does not qualify as an internationally active insurance group may request that the director make a determination or acknowledgment as to a group-wide supervisor pursuant to §§ 58-5A-80.2 and 58-5A-80.6.
Source: SL 2020, ch 213, § 2.