Title 58 — INSURANCE

Source: SL 1966, ch 111 , ch 2, § 28; SL 1989, ch 48 , § 4.

58-2-1.1 Division within Department of Labor and Regulation--Direction and supervision by department--Independent functions retained by division. 58-2-2

The Division of Insurance shall be administered under the direction and supervision of the Department of Labor and Regulation (hereinafter referred to as "department") and the secretary of labor and regulation (hereinafter referred to as "secretary"), but shall retain the quasi-j…

The Department of Labor and Regulation may employ competent insurance actuaries to perform actuarial duties of the division, to take charge of or assist in the examination of insurers, and to perform other duties assigned to them. Source: SL 1966, ch 111 , ch 2, § 4 (3); SL 2003,…

The Department of Labor and Regulation may appoint or employ examiners to conduct or assist in examinations of insurers and others provided for under this title. Source: SL 1966, ch 111 , ch 2, § 4 (4); SL 2003, ch 272 (Ex. Ord. 03-1), § 20; SL 2011, ch 1 (Ex. Ord. 11-1 ), § 162,…

The director shall, before entering upon the duties of his office, take and subscribe the constitutional oath of office and shall give the state a bond in the sum of one hundred thousand dollars, and each insurance examiner, the actuary and the attorney shall each give bond to th…

The Department of Labor and Regulation may appoint a chief clerk and such other employees as may be necessary, subject to the approval of the Bureau of Human Resources and Administration. Source: SL 1966, ch 111 , ch 2, § 4 (6); SL 2003, ch 272 (Ex. Ord.), § 20; SL 2011, ch 1 (Ex…

The Department of Labor and Regulation may at any time terminate the employment of any person in the division. Source: SL 1966, ch 111 , ch 2, § 4 (7); SL 2003, ch 272 (Ex. Ord. 03-1), § 20; SL 2011, ch 1 (Ex. Ord. 11-1 ), § 162, eff. Apr. 12, 2011.

The Department of Labor and Regulation may contract, on a fee or a part-time basis, for such actuarial, technical, or other professional services as the division may require for the discharge of its duties. Source: SL 1966, ch 111 , ch 2, § 4 (8); SL 2003, ch 272 (Ex. Ord. 03-1),…

Any technical or professional personnel hired by the Department of Labor and Regulation upon a part-time or fee basis may be required to furnish a bond in such amount as the department may determine, such bond to be approved and filed and the premium therefor paid in the same man…

The compensation of all such personnel employed or contracted for by the Department of Labor and Regulation shall be fixed by the department subject to the approval of the Bureau of Human Resources and Administration. Source: SL 1966, ch 111 , ch 2, § 4 (9); revised pursuant to S…

The director or any examiner or employee of the division shall not be given nor receive any fee, compensation, loan, gift, or other thing of value except the compensation and expense allowance provided by law, for any service rendered or to be rendered as such examiner or employe…

The director or any examiner, assistant, or employee of the division shall not be financially interested, directly or indirectly, in any insurer, insurance agency, or insurance transaction except as a policyholder or claimant under a policy; except, that as to such matters wherei…

58-2-2.1 Appointment of director--Removal. 58-2-3 Qualifications of director. 58-2-4 58-2-4 to 58-2-8. Obsolete. 58-2-9 Legal adviser to division--Employment--Duties. 58-2-10 Actuaries--Employment by department--Duties. 58-2-11 Examiners for examination of insurers and others--Em…

The director of the Division of Insurance shall be appointed by the secretary and may be removed at the pleasure of the secretary. Source: SL 1973, ch 2 , § 49; SL 1980, ch 370 , § 21; SL 1995, ch 2 , § 6; SL 2003, ch 272 , § 120.

Sections 58-2-18 and 58-2-19 shall not be construed to prohibit the director or any employee from procuring a loan secured by a mortgage on real estate which mortgage and loan would be a proper investment under the provisions of this title. Source: SL 1966, ch 111 , ch 2, § 8.

The director shall enforce the provisions of this title, under the direction and supervision of the Department of Labor and Regulation, and shall execute the duties imposed upon him by this title. Source: SL 1966, ch 111 , ch 2, § 7; SL 2003, ch 272 (Ex. Ord. 03-1), § 20; SL 2011…

The director shall have the powers and the authority expressly conferred upon him by or reasonably implied from the provisions of this title. The director may conduct such examinations and investigations of insurance matters, in addition to examinations and investigations express…

The director shall have such additional powers and duties as may be provided by other laws of this state. Source: SL 1966, ch 111 , ch 2, § 7.

The director may delegate to the actuary, attorney, examiners, or employees of the division, the exercise or discharge in the director's name of any power, duty, or function, whether ministerial, discretionary, or of whatever character, vested in or imposed upon the director unde…

58-2-26 Records--Keeping by director--Public inspection. 58-2-27 Director's certificate of authority--Evidence. 58-2-28 Certified copies of records in office of director as evidence. 58-2-29 Fees, licenses, and charges--Collection by director in advance. 58-2-30 Disposition of mo…

The director shall keep permanent records of his official transactions, examinations, investigations, and proceedings. Such records and insurance filings in his office shall be open to public inspection, except as otherwise provided in this title with respect to particular record…

The director shall furnish, when requested, his sworn certificate as to the authority of any person to transact insurance business, and such certificate shall be evidence of the facts set forth therein. Source: SL 1966, ch 111 , ch 2, § 11 (2); SL 1978, ch 359 , § 11.

Copies of records or documents in his office certified to by the director shall be received in evidence in all courts as if they were the originals. Source: SL 1966, ch 111 , ch 2, § 11 (1).

The director must have had at least five years of practical experience in one or more of the types of insurance business subject to regulation by the director, or have had other professional and business experience reasonably adequate in character and scope to equip him to discha…

All fees received by the director from any source whatever, except as provided in § 58-3-15 not later than the fifth day of the succeeding month, shall be paid into the state treasury and by the state treasurer deposited in the insurance operating fund according to §

58-2-32 to 58-2-38. Repealed by SL 1996, ch 288 , §§ 1 to 7

The Division of Insurance may promulgate rules pursuant to chapter 1-26 in the following areas: (1) Definition of terms used in §§ 58-17-30.2 , 58-17-30.4 , 58-18-32 , 58-18-34 , and 58-33-85 to 58-33-88 , inclusive; (2) Insurer enrollment procedures; (3) Disclosure and notice re…

The director of insurance shall promulgate rules pursuant to chapter 1-26 , to protect the privacy of personally identifiable health care and medical information, data, and records. The rules shall cover health care and medical information, data, and records collected, used, or d…

The director shall promulgate rules pursuant to chapter 1-26 relating to the privacy of personal nonpublic financial information. The rules must be designed to provide privacy to the public of the personal nonpublic financial information that is shared or obtained in connection w…

The Department of Labor and Regulation shall appoint and employ an attorney to act as legal adviser to the division and to make investigations of violations or claimed violations of this title and to perform such other duties as directed by the department. Source: SL 1966, ch 111…