South Dakota Statutes
§ 58-25-24 — Calculation of adjusted statutory or unearned premium reserve.
The insurer shall calculate an adjusted statutory or unearned premium reserve as of the year of first application of § 58-25-22 . The adjusted reserve must be calculated as if § 58-25-22 had been in effect for each year beginning twenty years before the year of first application of § 58-25-22 . For purposes of this calculation, the balance of the reserve as of that date is considered to be zero. If the adjusted reserve so calculated exceeds the aggregate amount set aside for statutory or unearned premiums in the insurer's most recent annual statement filed with the director, the insurer shall, out of total charges for policies of title insurance, increase its statutory or unearned premium reserve by an amount equal to one - sixth of that excess in each of the succeeding six years, beginnin
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South Dakota § 58-25-24 (Calculation of adjusted statutory or unearned premium reserve.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
SL 2002, ch 239, § 3.
Nearby Sections
15
§ 58-1-1
Citation of title.§ 58-1-11
General saving clause.§ 58-1-13
Severability of provisions.§ 58-1-14
Notice of nonrenewal of policy must be mailed sixty days prior to renewal date--Exceptions.§ 58-1-14.1
Notice of refusal to renew--Thirty§ 58-1-16.1
Applicability of §§ 58-1-18
Repealed by SL 2012, ch 252, § 30.§ 58-1-2
Definition of terms.