South Dakota § 58-29D-22.1 Annual financial statement--Contents of application--Required audit.

South Dakota Statutes

§ 58-29D-22.1 — Annual financial statement--Contents of application--Required audit.

South Dakota § 58-29D-22.1

Title 58INSURANCE

Ch. 58-29AREGULATION OF LIFE AND HEALTH ADMINISTRATORS

This text of South Dakota § 58-29D-22.1 (Annual financial statement--Contents of application--Required audit.) 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 § 58-29D-22.1 (2026).

Text

Any annual financial statement or report required under § 58-29D-22 must be audited. The applicant is presumed to be solvent if the applicant has a positive net worth. If the applicant has been in existence for less than two fiscal years, the applicant shall include in the application all financial statements or reports, certified by an officer of the applicant and prepared in accordance with generally accepted accounting principles, for any completed fiscal year and for any month during the current fiscal year for which the financial statements or reports have been completed. If information provided pursuant to this section is prepared on a consolidated or combined basis, the applicant shall include a columnar consolidating or combining worksheet with the report or renewal and shall inclu

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

Any annual financial statement or report required under § 58-29D-22 must be audited. The applicant is presumed to be solvent if the applicant has a positive net worth. If the applicant has been in existence for less than two fiscal years, the applicant shall include in the application all financial statements or reports, certified by an officer of the applicant and prepared in accordance with generally accepted accounting principles, for any completed fiscal year and for any month during the current fiscal year for which the financial statements or reports have been completed. If information provided pursuant to this section is prepared on a consolidated or combined basis, the applicant shall include a columnar consolidating or combining worksheet with the report or renewal and shall include in the worksheet the following: (1) Amounts shown on the consolidated audited financial report or renewal; (2) Amounts for each entity stated separately; and (3) Explanations of consolidating and eliminating entries.