South Dakota § 58-26-93 Adoption of change to valuation manual.

South Dakota Statutes

§ 58-26-93 — Adoption of change to valuation manual.

South Dakota § 58-26-93

Title 58INSURANCE

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

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Bluebook

S.D. Codified Laws § 58-26-93 (2026).

Text

The director may approve a change to the valuation manual pursuant to rules promulgated pursuant to chapter 1-26 when the change to the valuation manual is adopted by the NAIC by an affirmative vote representing:

(1)At least three-fourths of the members of the NAIC voting, but not less than a majority of the total membership; and (2) Members of the NAIC representing jurisdictions totaling greater than seventy-five percent of the direct premiums written as reported in the following annual statements most recently available prior to the vote in subdivision (1) above: life, accident, and health annual statements, health annual statements, or fraternal annual statements.

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The director may approve a change to the valuation manual pursuant to rules promulgated pursuant to chapter 1-26 when the change to the valuation manual is adopted by the NAIC by an affirmative vote representing: (1) At least three-fourths of the members of the NAIC voting, but not less than a majority of the total membership; and (2) Members of the NAIC representing jurisdictions totaling greater than seventy-five percent of the direct premiums written as reported in the following annual statements most recently available prior to the vote in subdivision (1) above: life, accident, and health annual statements, health annual statements, or fraternal annual statements.