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S.D. Codified Laws § 58-6-4

Activities excepted from certificate of authority requirements

Applied in 1 court decision — leading case State v. American Bankers Insurance Co. (1985)

Most recently applied in State v. American Bankers Insurance Co. (September 1985)

Source: SL 1966, ch 111, ch 3, § 2.

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or health insurance policies or annuity contracts remaining in force as to residents of this state if the insurer has withdrawn from the state and is not transacting new insurance therein.

Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.