§ 58-6A-1 Definition of terms
§ 58-6A-2 Charter and license of risk retention group–Approval of plan of operation or feasibility study–Revision of plan or study–Notice to National Association of Insurance Commissioners
§ 58-6A-3 Information submitted to director
§ 58-6A-3.1 Majority of risk retention group directors to be independent–Board determinations as to material relationship
§ 58-6A-3.2 Criteria of material relationship
§ 58-6A-3.3 Material service provider contracts
§ 58-6A-3.4 Notice to director of intent to enter into service provider contract meeting criteria of material relationship
§ 58-6A-3.5 Written policy in plan of operation
§ 58-6A-3.6 Members of audit committee
§ 58-6A-3.7 Purpose of audit committee
§ 58-6A-3.8 Waiver of audit committee requirement
§ 58-6A-3.9 Governance standards
§ 58-6A-3.10 Code of business conduct and ethics
§ 58-6A-3.11 Notice to director of noncompliance with standards
§ 58-6A-4 Financial information submitted to director
§ 58-6A-5 Taxation of premiums–Payment by insurance producers or brokers–Payment by risk retention group–Report of premiums
§ 58-6A-5.1 Rate of taxation on premiums–Interest, fines and penalties–Payment
§ 58-6A-6 Compliance with Unfair Trade Practices Act
§ 58-6A-7 Compliance with laws regarding deceptive, false, or fraudulent acts or practices–Injunction
§ 58-6A-8 Examination by director
§ 58-6A-9 Notice contained on policy–Contents
§ 58-6A-10 Prohibited acts by risk retention group
§ 58-6A-11 Insurance company as member or owner
§ 58-6A-12 Compliance with voluntary dissolution or delinquency order by group not chartered if financially impaired
§ 58-6A-13 Financial contribution to or benefit from insurance insolvency guaranty fund prohibited
§ 58-6A-14 Countersignature on policy not required
§ 58-6A-15 Prohibited insurance coverage
§ 58-6A-16.1 Exemptions for purchasing group and insurer in regard to liability insurance–Subject to other laws
§ 58-6A-17 Notice to director–Contents
§ 58-6A-17.1 Notice to director of changes
§ 58-6A-17.2 Information required by director–Time for giving notice and information
§ 58-6A-18 Designation of director as agent for purchasing group–Exceptions
§ 58-6A-19.1 Purchase from risk retention group not chartered or insurer not admitted in state prohibited–Exception
§ 58-6A-19.2 Notice of unprotected risk when liability insurance obtained from insurer not admitted in this state or risk retention group
§ 58-6A-19.3 Purchase of insurance providing for deductible or self-induced retention applicable to whole group prohibited–Application to individuals allowed–Aggregate limits standards
§ 58-6A-19.4 Insurance producer or broker license required for purchasing liability insurance from risk retention group
§ 58-6A-19.5 Insurance producer or broker license required to solicit liability insurance for purchasing group from insurer or risk retention group
§ 58-6A-19.6 Insurance producer or broker license required to solicit liability insurance for member of purchasing group
§ 58-6A-19.7 Surplus lines producer or excess line producer license required to solicit liability insurance from unauthorized insurer for purchasing group
§ 58-6A-20 Director’s use of enforcement powers–Injunctive authority
§ 58-6A-21 Penalty for violation
§ 58-6A-22 Broker license–Waiver of residency requirements
§ 58-6A-23 Enforcement of injunction against risk retention group in hazardous financial condition
§ 58-6A-24 Promulgation of rules
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Terms Used In South Dakota Codified Laws > Title 58 > Chapter 6A - Risk Retention Groups

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Attorney-in-fact: A person who, acting as an agent, is given written authorization by another person to transact business for him (her) out of court.
  • 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.
  • 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.
  • Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
  • 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.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
  • Oversight: Committee review of the activities of a Federal agency or program.
  • 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
  • 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
  • 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