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§ 58-6A-4 Financial information submitted to director.

SD Codified L § 58-6A-4 (2019) (N/A)
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58-6A-4. Financial information submitted to director. Any risk retention group doing business in this state shall submit to the director:

(1) A copy of the group's financial statement submitted to its state of domicile, which shall be certified by an independent public accountant and contain a statement of opinion on loss and loss adjustment expense reserves made by a member of the American Academy of Actuaries or a qualified loss reserve specialist under criteria established by the National Association of Insurance Commissioners;

(2) A copy of each examination of the risk retention group as certified by the director or public official conducting the examination;

(3) Upon request by the director, a copy of any audit performed with respect to the risk retention group; and

(4) Such information as may be required to verify its continuing qualification as a risk retention group under this chapter.Source: SL 1987, ch 372, § 4.

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§ 58-6A-3.12 Application of §§ 58-6A-1 to 58-6A-3.11.
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§ 58-6A-5 Taxation of premiums--Payment by insurance producers or brokers--Payment by risk retention group--Report of premiums.