In order for a domestic ceding insurer to qualify for full financial statement credit for reinsurance ceded to a certified reinsurer, the certified reinsurer shall maintain security in a form acceptable to the director and consistent with § 58-14-16, or in a multibeneficiary trust in accordance with § 58-14-11, except as otherwise provided in §§ 58-14-16.8">58-14-16.8 to 58-14-16.13, inclusive.
S.D. Codified Laws § 58-14-16.9
Security required for domestic ceding insurer to qualify for full financial statement credit for reinsurance ceded to certified reinsurer
Source: SL 2017, ch 211, § 20.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.