Public-domain · open source
OpenJurist

S.D. Codified Laws § 58-6A-4

Financial information submitted to director

Source: SL 1987, ch 372, § 4.

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.

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