Title 58, INSURANCE

No such policy of compensation or liability insurance or rider shall be issued or delivered in this state until a copy of the form thereof shall have been filed with the director at least thirty days, unless prior to the expiration of such thirty days, the director shall in writi…

No workers' compensation policy may be cancelled for nonpayment of premiums unless notice of the cancellation has been sent by mail to the employer at least ten days prior to the date of cancellation. Any policy cancelled for reasons other than nonpayment of premiums is subject t…

After consultation with insurers authorized to issue workers' compensation policies in this state, the director shall provide or approve a reasonable plan or plans for the equitable apportionment among such insurers of applicants for such workers' compensation policies who are in…

Any insurer engaging in the business of writing workers' compensation insurance in this state shall maintain a reinsurance reserve for outstanding losses under such insurance, for which the insured is liable as follows: (1) For all liability suits being defended under policies wr…

All unallocated compensation loss expense payments made in a given calendar year subsequent to the first three years in which an insurer has been issuing compensation policies shall be distributed as follows: forty percent shall be charged to the policies written in that year, fo…

All unallocated liability loss expense payments made in a given calendar year, subsequent to the first four years in which an insurer has been issuing liability policies, shall be distributed as follows: thirty - five percent shall be charged to the policies written in that year,…

Whenever, in the judgment of the director, the liability or compensation loss reserves of any insurer under his supervision, calculated in accordance with the provisions of §§ 58-20-16 to 58-20-18 , inclusive, are inadequate, he may require such insurer to maintain additional res…

All policies or contracts made for the insurance of the compensation provided by the title, Workers' Compensation, or against employers' liability described in § 58-20-12 , shall be deemed to be made subject to the provisions of this chapter and all provisions of such policies in…

Each insurer that writes liability or compensation policies shall include in the annual statement required by law a schedule of its experience thereunder in such form as the director may prescribe. Source: SL 1966, ch 111 , ch 29, § 4.

Any insurer writing workers' compensation insurance in this state shall offer to conduct or contract for annual workplace safety review services, including review reports with written recommendations for improved safety procedures, to each of its insureds whose policy premium is …

Any insurer writing workers' compensation in this state shall provide an appropriate reduction in premium, as determined by the insurer, to its insureds that due to size do not qualify for experience rating and who have not incurred liability for indemnity compensation or for med…

For purposes of § 58-20-22 , liability for indemnity compensation or medical losses means payment made to or on behalf of the injured worker for medical costs, loss of wages, or injuries resulting in permanent total, permanent partial, or temporary disabilities, as defined in §§ …

Effective January 1, 1995, every policy issued by any corporation, association, or organization to assure the payment of compensation under the provisions of the title, Workers' Compensation, shall contain provisions to provide medical services and health care to injured workers …

Terms used in §§ 58-20-25 to 58-20-40 , inclusive, mean: (1) "Administrator," a person, partnership, limited liability company, or corporation engaged by a workers' compensation self-insurance association to carry out the policies established by the association and to provide man…

Any two or more electric utility employers or their trade associations may form an association for the purpose of providing to members group self - insurance to protect members against losses arising from workers' compensation liability. Source: SL 1995, ch 282 , § 2.

An association proposing to self - insure its workers' compensation liability shall apply to the department for the authority to self - insure, using forms available from the department. The application shall include: (1) The association's name; (2) The location and mailing addre…

To obtain and maintain its certificate an association shall: (1) Have sufficient assets, net worth, and liquidity to promptly meet all obligations of the association's members under §§ 58-20-25 to 58-20-40 , inclusive, and their workers' compensation liability. In determining whe…

The department shall grant or deny the association's application to self - insure within sixty days after a complete application has been filed. However, the time may be extended for an additional thirty days upon fifteen days' prior notice to the applicant. The department shall …

Any insurer authorized or which may be authorized to write workers' compensation insurance in this state, shall be and is hereby authorized to issue policies covering employers who perform labor incidental to their occupations as well as employees, such policies insuring to such …

Premiums for workers' compensation insurance may not be based on wages paid to employees while they are on vacation, holidays, or sick leave or on wages received from employment not performed for the insured employer. Source: SL 1983, ch 386 ; SL 2016, ch 236 , § 7.

The department may examine the affairs, transactions, accounts, records, assets, and liabilities of any association created under §§ 58-20-25 to 58-20-40 , inclusive, as deemed reasonably necessary. Source: SL 1995, ch 282 , § 6.

The department may promulgate rules governing associations pursuant to chapter 1-26 concerning: (1) Application, financial, annual reports, or other forms to be created by the department under §§ 58-20-25 to 58-20-40 , inclusive; (2) Financial requirements of the department for a…

A member may voluntarily terminate its participation in an association by giving written notice to the other members of the association and the department at least ninety days before the desired termination date. The voluntary termination shall be approved by the department if it…

A member may be involuntarily terminated as a member of the association if the department finds, after due notice and hearing, that the member: (1) Has failed to pay any contribution or assessment due to the association; (2) Has failed to comply with §§ 58-20-25 to 58-20-40 , inc…

Any member who voluntarily terminates its membership in the association, or who is involuntarily terminated as a member of the association, shall nevertheless remain liable subsequent to the date of termination for all contractual obligations it entered into with the association …

Each year after an association has been granted a certificate, the association shall file with the department an annual report of its affairs and operations during the last preceding calendar year. The report shall be made in such form and shall contain such information as the de…

No association may be voluntarily dissolved or otherwise cease to function without written approval by the department after the department has determined that all claims and other legal obligations of the association have been paid or that adequate provisions for such payment hav…

If the assets of an association are at any time insufficient to enable the association to discharge its liabilities and obligations, the association's members shall make up the deficiency or the department may order the association to levy an assessment upon its members in an amo…

Source: SL 1995, ch 282 , § 5.

Notwithstanding any other provision of law to the contrary, any association organized pursuant to §§ 58-20-25 to 58-20-40 , inclusive, is not an insurance company or insurer under the laws of this state; any agreement forming an association does not constitute insurance or the co…

Every policy of workers' compensation insurance, issued or delivered in this state by an authorized domestic or foreign insurer, shall cover separately and for a separate consideration, all the liabilities which are imposed upon an insurer by the provisions of the title, Workers'…

The provisions of chapter 1-26 govern all proceedings or investigations of the department pursuant to §§ 58-20-25 to 58-20-40 , inclusive. Source: SL 1995, ch 282 , § 16.

Every policy of insurance issued by a stock insurer, or by a mutual association authorized to transact workers' compensation or employers' liability insurance in this state, shall cover the entire liability of the employer to his employees covered by the policy or contract. Howev…

No such policy of insurance shall be issued unless it contains the agreement of the insurer that it will promptly pay to the person entitled to compensation all installments of the compensation that may be awarded or agreed upon, and that the obligation shall not be affected by a…

Every policy of insurance issued by a stock insurer or by a mutual insurer shall contain a provision setting forth the right of the employees to enforce in their own names, either by at any time filing a separate claim or by at any time making the insurance carrier a party to the…

Payment of such compensation, in whole or in part, by either the employer or the insurance carrier shall, to the extent thereof, be a bar to the recovery against the other of the amount so paid. Source: SL 1966, ch 111 , ch 29, § 7.

Every policy shall provide that the worker shall have a first lien upon any amount becoming due on account of such policy to the insured from the insurer, and that in case of the legal incapacity, inability, or disability of the insured to receive the amount due and pay it over t…

Whenever any bond, undertaking, recognizance, or other obligation is by law, or the charter, ordinances, rules, or regulations of any municipality, board, body, organization, court, judge, or public officer, required or permitted to be made, given, tendered, or filed, with surety…

A valid subsisting certificate of authority or duly certified copy thereof issued by the director to a surety insurer shall be accepted as evidence of qualification to become sole surety on all bonds, undertakings, recognizances, and obligations required or permitted by law, or i…

Execution by such insurer of such bond, undertaking, obligation, recognizance, or guaranty shall be in all respects a full and complete compliance with every requirement of every law, charter, ordinance, rule, or regulation, that such bond, undertaking, obligation, recognizance, …

Any such insurer doing business in this state without a valid certificate of authority shall forfeit one hundred dollars for every day it neglects to procure such certificate. Any insurance producer making assurance or soliciting applications for any insurer having no such certif…

A surety insurer may be released from its liability on a bond referred to in § 58-21-1 upon the same terms and conditions as are by law prescribed for the release of individual sureties. Source: SL 1966, ch 111 , ch 28, § 2.

Terms used in this chapter mean: (1) "Bail bond," cash, property or surety given to obtain a defendant's release; (1A) "Bail bondsman," a surety bondsman, professional bondsman, or a property bondsman; (1B) "Cash," the coins and bills issued by the government of the United States…

In addition to the requirements prescribed in § 58-22-6 , an applicant for a professional bondsman license shall furnish annually a detailed financial statement under oath, and such statement shall be subject to the same examination as is prescribed by law for domestic insurers. …

A license may be refused, suspended, or canceled by the director at any time he determines that the financial statement filed by the applicant or professional bondsman is inadequate to meet the requirements of the director. Source: SL 1966, ch 111 , ch 31, § 24.

In addition to the other requirements prescribed in this chapter, an applicant for a license to serve as a runner shall affirmatively show: (1) That the applicant is a natural person who has reached the age of twenty - one years; (2) That the applicant is a citizen of the United …