South Dakota § 58-14-16.20 Suspension or revocation of reinsurer' s accreditation or certification.

South Dakota Statutes

§ 58-14-16.20 — Suspension or revocation of reinsurer' s accreditation or certification.

South Dakota § 58-14-16.20

Title 58INSURANCE

Ch. 58-13REINSURANCE

This text of South Dakota § 58-14-16.20 (Suspension or revocation of reinsurer' s accreditation or certification.) is published on Counsel Stack Legal Research, covering South Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.D. Codified Laws § 58-14-16.20 (2026).

Text

If an accredited or certified reinsurer ceases to meet the requirements for accreditation or certification, the director may suspend or revoke the reinsurer' s accreditation or certification. The director shall give the reinsurer notice and opportunity for hearing. The suspension or revocation may not take effect until after the director's order on hearing, unless:

(1)The reinsurer waives the reinsurer's right to hearing;

(2)The director's order is based on regulatory action by the reinsurer's domiciliary jurisdiction or the volunteer surrender or termination of the reinsurer' s eligibility to transact insurance or reinsurance business in the reinsurer's domiciliary jurisdiction or in the primary certifying state of the reinsurer under § 58-14-16.14 ; or (3) The director finds t

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If an accredited or certified reinsurer ceases to meet the requirements for accreditation or certification, the director may suspend or revoke the reinsurer' s accreditation or certification. The director shall give the reinsurer notice and opportunity for hearing. The suspension or revocation may not take effect until after the director's order on hearing, unless: (1) The reinsurer waives the reinsurer's right to hearing; (2) The director's order is based on regulatory action by the reinsurer's domiciliary jurisdiction or the volunteer surrender or termination of the reinsurer' s eligibility to transact insurance or reinsurance business in the reinsurer's domiciliary jurisdiction or in the primary certifying state of the reinsurer under § 58-14-16.14 ; or (3) The director finds that an emergency requires immediate action and a court of competent jurisdiction has not stayed the director's action.