§ 58-26-1 Assets allowed in determination of financial condition
§ 58-26-2 Valuation of bonds or other evidences of debt–Method of calculation
§ 58-26-3 Valuation of securities other than evidences of debt
§ 58-26-4 Preferred or guaranteed stocks–Method of computing value approved bydirector
§ 58-26-5 Real property acquired pursuant to mortgage loan or contract for sale–Restriction as to valuation
§ 58-26-6 Purchase money mortgage on real property–Restriction as to valuation
§ 58-26-7 Appraisal for valuation of other real property
§ 58-26-8 Personal property acquired pursuant to chattel mortgage–Restriction as tovaluation
§ 58-26-9 Valuation not to be inconsistent with approved method
§ 58-26-10 Assets not allowed in determining financial condition
§ 58-26-10.1 Radio and television facilities allowable as assets
§ 58-26-11 Capital stock and liabilities chargeable against assets
§ 58-26-12 Assets allowed as deductions from corresponding liabilities
§ 58-26-13.1 Actuarial opinion of property, casualty, and health insurers
§ 58-26-13.2 Time limit for compliance with actuary opinion requirements
§ 58-26-30 Reserve requirements for health insurance
§ 58-26-31 Reserve for outstanding losses under liability insurance and workers’compensation
§ 58-26-32 Reserve for workers’ compensation claims under policies written in threeyears preceding
§ 58-26-33 Reserve for workers’ compensation claims under policies written more thanthree years preceding
§ 58-26-34 Reserve for liability policies written during three years preceding
§ 58-26-35 Maintaining a reserve for outstanding losses under credit insurance policies
§ 58-26-36 Unearned premium reserve–Insurers required to maintain
§ 58-26-37 Unearned premium reserve–Computation–Use of table
§ 58-26-38 Unearned premium reserve–Computation on a prorata basis
§ 58-26-39 Change in method of computation of unearned premium reserve–Approvalof director required
§ 58-26-40 Unearned premium reserve provisions inapplicable to title insurance
§ 58-26-41 Unearned premium reserve on marine and transportation insurance
§ 58-26-43 Increase of inadequate reserves
§ 58-26-44 Application of chapter
§ 58-26-44.1 Definition of terms in §§ 58-26-45 to 58-26-105
§ 58-26-45 Valuation of reserve liabilities for policies and contracts issued beforeoperative date of valuation manual–Calculating reserves
§ 58-26-45.1 Adoption of NAIC valuation manual of instruction–Valuation of reserveliabilities for contracts issued after operative date of valuation manual
§ 58-26-46 Annual opinion of qualified actuary required–Promulgation of rules
§ 58-26-47 Opinion required as to adequacy of reserves to provide for company’sobligations
§ 58-26-48 Promulgation of rules for establishing higher reserves
§ 58-26-49 Form and substance of actuary’s opinion
§ 58-26-50 Provisions governing submission of actuary’s opinion
§ 58-26-51 Opinion submitted by foreign or alien company
§ 58-26-52 Qualified actuary defined
§ 58-26-53 Liability of qualified actuary
§ 58-26-54 Promulgation of rules defining disciplinary action against company orqualified actuary
§ 58-26-55 Confidentiality of material supporting opinion of qualified actuary
§ 58-26-55.1 Opinion of actuary on reserves and related actuarial items to be inaccordance with valuation manual
§ 58-26-56 Minimum standard for valuation of policies and contracts
§ 58-26-57 Mortality tables used for ordinary life insurance policies
§ 58-26-58 Mortality tables used for industrial life insurance policies
§ 58-26-59 Mortality tables used for individual annuity and pure endowment contracts
§ 58-26-60 Mortality tables used for group annuity and pure endowment contracts
§ 58-26-61 Disability tables used for total and permanent disability
§ 58-26-62 Tables used for accidental death benefits
§ 58-26-63 Tables to be approved by director
§ 58-26-64 Minimum standard of valuation for individual annuity and pure endowmentcontracts and group annuity and pure endowment contracts on or after July1, 1995
§ 58-26-65 Tables used for individual annuity and pure endowment contracts issuedprior to July 1, 1978–Interest
§ 58-26-66 Tables used for individual single premium immediate annuity contractsissued on or after July 1, 1978–Interest
§ 58-26-67 Tables used for individual annuity and pure endowment contracts issued onor after July 1, 1978–Interest
§ 58-26-68 Tables used for annuities and pure endowments purchased under groupcontracts prior to July 1, 1978–Interest
§ 58-26-69 Tables used for annuities and pure endowments purchased under groupcontracts after July 1, 1978–Interest
§ 58-26-70 Written notice of election to comply with provisions of §§ 58-26-64 to 58-26-69, inclusive–Operative date
§ 58-26-71 Calendar year statutory valuation interest rates defined
§ 58-26-72 Weighting factors
§ 58-26-73 Reference interest rate defined
§ 58-26-74 Alternative method for determination of reference interest rate
§ 58-26-75 Valuation of reserves–Policies providing for uniform amount of insuranceand requiring payment of uniform premiums–Policies providing varyingamounts of insurance or varying premiu
§ 58-26-76 Valuation of reserves for certain annuity or pure endowment contracts
§ 58-26-77 Minimum aggregate reserves for life insurance policies
§ 58-26-78 Standards for calculating reserves for policies and contracts issued prior toJuly 1, 1995
§ 58-26-79 Standards for calculating reserves for policies, contracts or benefits issuedon or after July 1, 1995
§ 58-26-80 Company’s greater standard of valuation may be lowered with directorapproval
§ 58-26-81 Determining minimum reserve when gross premium charged is less than thevaluation net premium
§ 58-26-82 Application of §§ 58-26-75 and 58-26-81 to certain life insurance policiesissued on or after January 1, 1986
§ 58-26-83 Requirements for reserves for life insurance providing for future premiumdetermination or for reserves undeterminable under methods in § 58-26-75,
§ 58-26-84 Promulgation of rules for minimum standards applicable to health plansissued on or after July 1, 1995 and before operative date of valuationmanual
§ 58-26-86 Actuarial opinion summary to be filed with property, casualty, and healthinsurers’ annual statement
§ 58-26-87 Actuarial report and workpapers to support actuarial opinion
§ 58-26-88 Preparation of supporting actuarial report or workpapers upon insurer’sfailure to provide acceptable supporting documents
§ 58-26-89 Statement of actuarial opinion to be filed with annual statement–Publicdocument
§ 58-26-90 Confidentiality of actuarial report, workpapers, or actuarial opinionsummary provided in support of opinion
§ 58-26-91 Minimum standard of valuation for policies issued on or after operative dateof valuation manual
§ 58-26-92 Prerequisites for adoption of NAIC valuation manual of instruction
§ 58-26-93 Adoption of change to valuation manual
§ 58-26-94 Specifications required for adoption of valuation manual
§ 58-26-95 Exceptions to valuation manual requirements
§ 58-26-96 Qualified actuary engaged by director or by official of another state
§ 58-26-97 Required change in assumption or method and adjustment of reserves
§ 58-26-98 Reserves to be established using principle-based valuation–Conditions
§ 58-26-99 Procedures, controls and report regarding principle-based valuation
§ 58-26-100 Prescribed formulaic reserve component
§ 58-26-101 Data to be submitted as prescribed in valuation manual
§ 58-26-102 Confidential information defined
§ 58-26-103 Confidential information privileged–Use and sharing
§ 58-26-104 Exceptions to confidentiality of information
§ 58-26-105 Exemption of certain forms or product lines of domestic insurer
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Terms Used In South Dakota Codified Laws > Title 58 > Chapter 26 - Valuation of Assets, Liabilities and Reserves

  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
  • Appraisal: A determination of property value.
  • 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.
  • 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.
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • 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.
  • Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
  • Fraud: Intentional deception resulting in injury to another.
  • Insurance business: includes the transaction of all matters pertaining to a contract of insurance, both before and after the effectuation of that contract, and all matters arising out of that contract or any claim thereunder. See South Dakota Codified Laws 58-1-2
  • Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
  • 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.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • 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
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • 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
  • 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