S.D. Admin. R. 20:07:18:06
Current through Register Vol. 50, page 162, June 24, 2024
Before purchasing a cash value life insurance policy, the board of directors shall evaluate the financial condition and rating, if any, of the insurance company based on current financial information. This evaluation and all subsequent evaluations shall be recorded in the minutes of the board of directors. The board shall continue to evaluate the company's financial condition and rating at least annually.
S.D. Admin. R. 20:07:18:06
General Authority: SDCL 51A-2-13, 51A-4-42.
Law Implemented: SDCL 51A-4-42.