§ 58-6-4 Activities excepted from certificate of authority requirements.

SD Codified L § 58-6-4 (2019) (N/A)

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58-6-4. Activities excepted from certificate of authority requirements. A certificate of authority shall not be required of an insurer with respect to the following:

(1) Investigation, settlement, or litigation of claims under its policies lawfully written in this state, or liquidation of assets and liabilities of the insurer, other than collection of new premiums, all as resulting from its former authorized operations in this state;

(2) Transactions thereunder subsequent to issuance of a policy covering only subjects of insurance not resident, located or expressly to be performed in this state at time of issuance, and lawfully solicited, written and delivered outside this state;

(3) Transactions pursuant to surplus lines coverages lawfully written under the chapter of this title relating to surplus lines;

(4) Reinsurance, when transacted by an insurer duly authorized by its state of domicile to transact the kind of insurance involved;

(5) The continuation and servicing of life insurance or health insurance policies or annuity contracts remaining in force as to residents of this state if the insurer has withdrawn from the state and is not transacting new insurance therein.Source: SL 1966, ch 111, ch 3, § 2.

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§ 58-6-3 Preemption of field of insurance regulation by state--Licensing by political subdivisions prohibited.

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§ 58-6-5 Foreign insurer--Investments in state without a certificate of authority.