South Dakota § 58-33-112 Documented supervision procedures and controls.

South Dakota Statutes

§ 58-33-112 — Documented supervision procedures and controls.

South Dakota § 58-33-112

Title 58INSURANCE

Ch. 58-32UNFAIR TRADE PRACTICES

This text of South Dakota § 58-33-112 (Documented supervision procedures and controls.) 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 § 58-33-112 (2026).

Text

An insurance producer, third party administrator, insurer, preferred provider organization, or an agent of the same shall establish and maintain documented supervision procedures and controls that are reasonably designed to achieve compliance with §§ 58-33-93 to 58-33-116 , inclusive. The supervisory procedures shall include:

(1)Training;

(2)Internal controls;

(3)Periodic audits;

(4)Supervisory review; and (5) Monitoring and enforcement of contractual provisions established under §§ 58-33-104 and 58-33-108 . The extent of the supervisory procedures and controls a producer is required to maintain under this section may appropriately reflect the size and complexity of the producer's operations and the scope and nature of the producer's insurance activities.

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An insurance producer, third party administrator, insurer, preferred provider organization, or an agent of the same shall establish and maintain documented supervision procedures and controls that are reasonably designed to achieve compliance with §§ 58-33-93 to 58-33-116 , inclusive. The supervisory procedures shall include: (1) Training; (2) Internal controls; (3) Periodic audits; (4) Supervisory review; and (5) Monitoring and enforcement of contractual provisions established under §§ 58-33-104 and 58-33-108 . The extent of the supervisory procedures and controls a producer is required to maintain under this section may appropriately reflect the size and complexity of the producer's operations and the scope and nature of the producer's insurance activities.