South Dakota Statutes
§ 58-30-124 — Definition of terms.
Terms as used in §§ to 58-30-139 , inclusive, mean:
(1)"Actuary," any person who is a member in good standing of the American Academy of Actuaries;
(2)"Managing general agent," any person:
(a)Who manages all or part of the insurance business of an insurer, including the management of a separate division, department, or underwriting office; and (b) Acts as an agent for the insurer or who, with or without the authority, either separately or together with affiliates, produces, directly or indirectly, and underwrites an amount of gross written premium of five percent or more of the policyholder surplus as reported in the last annual statement of the insurer in any one quarter or year and either:
(i)Adjusts or pays claims; or (ii) Negotiates reinsurance on behalf of the in
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South Dakota § 58-30-124 (Definition of terms.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
SL 1992, ch 353, § 1.
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Repealed by SL 2012, ch 252, § 30.§ 58-1-2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.