South Dakota § 58-26-92 Prerequisites for adoption of NAIC valuation manual of instruction.

South Dakota Statutes

§ 58-26-92 — Prerequisites for adoption of NAIC valuation manual of instruction.

South Dakota § 58-26-92

Title 58INSURANCE

Ch. 58-26VALUATION OF ASSETS, LIABILITIES AND RESERVES

This text of South Dakota § 58-26-92 (Prerequisites for adoption of NAIC valuation manual of instruction.) 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 § 58-26-92 (2026).

Text

The director may not adopt the NAIC valuation manual of instruction until all of the following have occurred:

(1)The valuation manual is adopted by the NAIC by an affirmative vote of at least forty-two members, or three-fourths of the members voting, whichever is greater;

(2)The Standard Valuation Law, as amended by the NAIC in 2009, or legislation including substantially similar terms and provisions, is enacted by states representing greater than seventy-five percent of the direct premiums written as reported in the following annual statements submitted for 2008: life, accident, and health annual statements; health annual statements; or fraternal annual statements;

(3)The Standard Valuation Law, as amended by the NAIC in 2009, or legislation including substantially similar ter

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The director may not adopt the NAIC valuation manual of instruction until all of the following have occurred: (1) The valuation manual is adopted by the NAIC by an affirmative vote of at least forty-two members, or three-fourths of the members voting, whichever is greater; (2) The Standard Valuation Law, as amended by the NAIC in 2009, or legislation including substantially similar terms and provisions, is enacted by states representing greater than seventy-five percent of the direct premiums written as reported in the following annual statements submitted for 2008: life, accident, and health annual statements; health annual statements; or fraternal annual statements; (3) The Standard Valuation Law, as amended by the NAIC in 2009, or legislation including substantially similar terms and provisions, is enacted by at least forty-two of the following fifty-five jurisdictions: The fifty states of the United States, American Samoa, the American Virgin Islands, the District of Columbia, Guam, and Puerto Rico.