Title 58 — INSURANCE

Orders and notices of the director shall not be effective unless in writing signed by him or by his authority. Source: SL 1966, ch 111 , ch 2, § 15 (1).

Every such order shall state its effective date and shall concisely state: (1) Its intent or purpose; (2) The grounds on which based; and (3) The provisions of this title pursuant to which action is so taken or proposed to be taken, but failure to so designate a particular provis…

The director shall prosecute an action in any court of proper venue to enforce any order made by him pursuant to the provisions of this title. Source: SL 1966, ch 111 , ch 2, § 12 (2). 58-4-19 to 58-4-24. Repealed by SL 1978, ch 359 , § 13

Formal rules of pleading or evidence need not be observed at any hearing. Source: SL 1966, ch 111 , ch 2, § 24 (3). 58-4-26 to 58-4-28. Repealed by SL 1978, ch 359 , § 13

The director shall promulgate rules, pursuant to chapter 1-26 , setting forth standards for determining the hazardous financial condition of an insurer under this title. Source: SL 1992, ch 339 , § 1.

In making a determination of an insurer's financial condition, the director may: (1) Disregard any credit or amount receivable resulting from transactions with a reinsurer which is insolvent, impaired, or subject to a delinquency proceeding; (2) Make appropriate adjustments to as…

If the director determines that the continued operation of an insurer licensed to transact business in this state may be hazardous to the policyholders, the creditors, or the general public, then the director may issue an order stating the reasons for the determination and requir…

Any insurer subject to an order under § 58-4-41 may request a hearing to review that order. The request shall be in writing and shall be made within ten days of the date of receipt of the order. The notice of hearing shall be served upon the insurer. Unless mutually agreed betwee…

Sections 58-4-39 to 58-4-42 , inclusive, apply to all insurers or persons doing insurance business notwithstanding any provision which exempts them from the insurance laws of this title. Source: SL 1992, ch 339 , § 5.

The director may investigate any person doing insurance business. The director may withhold from public inspection any examination or investigation report for so long as the director deems such withholding to be necessary for the protection of the person examined or investigated …

Internal memoranda and telephone notes or logs of division personnel are confidential. Medical records are confidential. Source: SL 1992, ch 340 , § 2.

Any person or corporation governed by this title providing information to the Division of Insurance is not liable for the release or subsequent use of such information. Source: SL 1992, ch 340 , § 3.

The division shall allow for the sharing of otherwise confidential information, administrative or judicial orders, or other action with other state, federal, and international regulatory officials if those officials are statutorily required to maintain its confidentiality. The di…

Any life and health and property and casualty insurer, and any insurer subject to chapters 58-37A , 58-38 , 58-39 , 58-40 , and 58-41 , domiciled in this state shall maintain minimum levels of risk - based capital to transact the business of insurance in this state. Each life and…

The status, existence, or outcome of any ongoing or completed investigation or examination performed pursuant to this title may be disclosed by the director to any person who has filed a complaint or report to the director pertaining to the specific investigation or examination. …

The director shall institute such suits or other legal proceedings as may be required for the enforcement of any provisions of this title. Source: SL 1966, ch 111 , ch 2, § 12 (1).

Terms used in §§ 58-4-50 to 58-4-54 , inclusive, mean: (1) "Return information," any information collected, prepared or received by the division which relates to a return, including the nature or amount of a taxpayer's income, receipts, deductions, net worth, tax liability, or de…

Each list of premium taxpayers compiled by the division is confidential. It is a Class 2 misdemeanor to disclose any list except to the extent necessary to carry out the official duties of the division. Source: SL 2012, ch 242 , § 3.

A premium tax return and premium tax return information is confidential. It is a Class 1 misdemeanor to disclose this information except pursuant to §§ 58-4-50 to 58-4-54 , inclusive. Source: SL 2012, ch 242 , § 4.

A premium tax return and premium tax return information may be disclosed to the following: (1) The taxpayer who is required to submit the information to the division, or his designee appointed in writing; or (2) As otherwise authorized by Title 58. Source: SL 2012, ch 242 , § 5.

A premium tax return and premium tax return information may be disclosed in a judicial or administrative proceeding: (1) If the information is directly related to the resolution of an issue in the proceeding; or (2) To the extent required by a judicial or administrative order. So…

The director shall be represented by the attorney general, his assistants, or by such other attorney at law as may be designated by the attorney general. Source: SL 1966, ch 111 , ch 2, § 12 (3).

The director may hold hearings for any purpose within the scope of this title deemed by him to be necessary. Source: SL 1966, ch 111 , ch 2, § 21 (1). 58-4-10 to 58-4-14. Repealed by SL 1978, ch 359 , § 13