S.D. Codified Laws § 58-46-5

Current through the 2024 Legislative Session

Section 58-46-5 - Additional filing requirements

In addition to the information required by § 58-46-4, each applicant captive insurance company shall file with the director evidence of the following:

(1) The amount and liquidity of its assets relative to the risks to be assumed;

(2) The adequacy of the expertise, experience, and character of the management;

(3) The overall soundness of its plan of operation;

(4) The adequacy of the loss prevention programs of its parent and affiliated entities; and

(5) Such other factors deemed relevant by the director in ascertaining whether the proposed captive insurance company will be able to meet its policy obligations.

SDCL 58-46-5

SL 1996, ch 287, § 5; SL 2013, ch 257, §4.