Title 58 — INSURANCE

An insurer may comply with the policy delivery requirements of §§ 58-15-8.2 , 58-15-59.2 , 58-17-11.1 , 58-17A-8.1 , and 58-28-24.2 by one of the following alternative delivery methods: (1) Via first-class mail using an intelligent mail barcode or another similar tracking method …

No person shall engage in or transact an insurance business in South Dakota, or act relative to a subject of insurance resident, located or to be performed in South Dakota, without complying with the applicable provisions of this title. Source: SL 1966, ch 111 , ch 1, § 1. 58-1-6…

58-1-8

No county or first or second class municipality of this state may require that any insurer, or any insurance producer obtain a certificate of authority or license to transact an insurance business in such county or municipality; and no county or municipality may levy any occupati…

58-1-10 Existing licenses--Renewal, suspension, revocation or termination. 58-1-11 General saving clause. 58-1-12 Applicability of title under unrepealed laws. 58-1-13 Severability of provisions. 58-1-14 Notice of nonrenewal of policy must be mailed sixty days prior to renewal da…

Every certificate of authority of an insurer in force immediately prior to July 1, 1966, and existing under any law repealed by chapter 111 of the Session Laws of 1966, shall be subject to renewal, suspension, revocation, or termination as though originally issued under this titl…

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…

The director of the Division of Insurance shall examine the affairs, transactions, accounts, records, and assets of each company, authorized insurer, management company, an owned or controlled subsidiary of the insurer, and each rating organization, as often as he deems advisable…

As used in this chapter, the term, company, means any person engaging in or proposing or attempting to engage in any insurance business and any person or group of persons who may otherwise be subject to the administrative, regulatory, or taxing authority of the director. Source: …

The director or his examiner shall make a full and true report of each examination. Source: SL 1966, ch 111 , ch 2, § 20 (1).

The report shall be comprised only of facts appearing from the books, papers, records, or documents of the person being examined, or ascertained from the statements of individuals concerning its affairs and the examiner's conclusions and recommendations based on procedures and gu…

No later than sixty days following completion of the examination, the examiner in charge shall file with the division a written report of examination under oath. Upon receipt of the report, the division shall transmit the report to the company examined. The company may make a wri…

Notwithstanding §§ 58-3-10 and 58-3-12 , for examinations, other than financial examinations, subject to the provisions of this chapter, the director or the examiner may issue an examination report. If an examination report is issued pursuant to this section, the applicable provi…

Prior to the completion of a market conduct examination, the director may request that the examiner in charge provide a draft examination report that is not to be filed under oath. The draft examination report does not constitute the conclusion of the examination and does not tri…

Draft examination report not governed by §§ 58-3-10 to

Each draft examination report described in § 58-3-12.2 is confidential. No draft examination report may be released except pursuant to a court order. Source: SL 2014, ch 232 , § 3.

The report when so filed shall be admissible in evidence, in any action or proceeding brought by the director against the person examined, or against its officers, representatives, or insurance producers, of the facts stated therein. The director and the director's examiners may …

Upon the adoption of the examination report under subdivision 58-3-12(1), the director shall continue to hold the content of the examination report as confidential information for a period of thirty days except to the extent provided in §§ 58-3-20 , 58-3-21 , and

58-3-18 Confidential investigative hearing--Inconsistencies in examination report. 58-3-19 Conducting hearing--Discovery. 58-3-20 Use of information discovered during examination for legal or regulatory action. 58-3-21 Disclosure of contents of examination report to insurance dep…

Each order entered pursuant to subdivision 58-3-12(1) shall be in accordance with chapter 1-26 . The order shall be accompanied by findings of fact and conclusions of law and constitutes a final decision. The order shall be served upon the company by certified mail, together with…