§ 58-3-15 — Expenses of examination paid by person examined.

South Dakota § 58-3-15

• Jurisdiction: South Dakota
• Title 58: INSURANCE
• Ch. 58-3: EXAMINATION OF INSURERS AND INSURANCE PRODUCERS

Text

Each person so examined, other than as to examinations pursuant to § 58-3-5 , shall pay the travel expenses, a reasonable living expense allowance, and a per diem as compensation of examiners, as necessarily incurred on account of the examination, all at reasonable rates customary therefor and as established or adopted by the director, upon presentation of a detailed account of charges and expenses. The account may be so presented periodically during the course of the examination or at the termination of the examination. The division may retain at the insurer's expense, consultants, attorneys, actuaries, accountants, and other experts not otherwise a part of the director's staff as shall be reasonably necessary to assist in the conduct of the examination. Any person so retained shall be under the direction and control of the director and shall act in a purely advisory capacity. Each insurer producing records, books, and papers for examination pursuant to this chapter is liable for and shall pay the expense of the examination.

Legislative History

SL 1966, ch 111, ch 2, § 19; SL 1977, ch 404, § 2; SL 1995, ch 273, § 1.