South Dakota § 58-14-24 Definition of terms.

South Dakota Statutes

§ 58-14-24 — Definition of terms.

South Dakota § 58-14-24

Title 58INSURANCE

Ch. 58-13REINSURANCE

This text of South Dakota § 58-14-24 (Definition of terms.) 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 § 58-14-24 (2026).

Text

Terms used in §§ to 58-14-42 , inclusive, mean:

(1)"Actuary," any person who is a member in good standing of the American Academy of Actuaries;

(2)"Controlling person," any person who, directly or indirectly, has the power to direct or cause to be directed the management, control, or activities of the agent or broker who sells, solicits, negotiates, or places reinsurance;

(3)"Reinsurance agent or agent," any person that has authority to bind or manage all or part of the assumed reinsurance business of a reinsurer, including the management of a separate division, department, or underwriting office, and acts as an agent for the reinsurer whether known as a manager or other similar term;

(4)"Reinsurance broker or broker," any person, other than an officer or employee of the ce

Free access — add to your briefcase to read the full text and ask questions with AI

Terms used in §§ to 58-14-42 , inclusive, mean: (1) "Actuary," any person who is a member in good standing of the American Academy of Actuaries; (2) "Controlling person," any person who, directly or indirectly, has the power to direct or cause to be directed the management, control, or activities of the agent or broker who sells, solicits, negotiates, or places reinsurance; (3) "Reinsurance agent or agent," any person that has authority to bind or manage all or part of the assumed reinsurance business of a reinsurer, including the management of a separate division, department, or underwriting office, and acts as an agent for the reinsurer whether known as a manager or other similar term; (4) "Reinsurance broker or broker," any person, other than an officer or employee of the ceding insurer, who solicits, negotiates, or places reinsurance cessions or retrocessions on behalf of a ceding insurer without the authority or power to bind reinsurance on behalf of the insurer.