South Dakota § 58-43-11 Rejection of accountant or audited financial report--Grounds.

South Dakota Statutes

§ 58-43-11 — Rejection of accountant or audited financial report--Grounds.

South Dakota § 58-43-11

Title 58INSURANCE

Ch. 58-43INDEPENDENT AUDIT OF INSURERS

This text of South Dakota § 58-43-11 (Rejection of accountant or audited financial report--Grounds.) 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 § 58-43-11 (2026).

Text

The director may not recognize as an accountant, nor accept any annual audited financial report, prepared in whole or in part by, any natural person who:

(1)Has been convicted of fraud, bribery, a violation of the Racketeer Influenced and Corrupt Organizations Act, 18 U.S.C. §§ 1961-1968, or any dishonest conduct or practices under federal or state law;

(2)Has been found to have violated the insurance laws of this state with respect to any previous reports submitted under this chapter; or (3) Has demonstrated a pattern or practice of failing to detect or disclose material information in previous reports filed under the provisions of this chapter.

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The director may not recognize as an accountant, nor accept any annual audited financial report, prepared in whole or in part by, any natural person who: (1) Has been convicted of fraud, bribery, a violation of the Racketeer Influenced and Corrupt Organizations Act, 18 U.S.C. §§ 1961-1968, or any dishonest conduct or practices under federal or state law; (2) Has been found to have violated the insurance laws of this state with respect to any previous reports submitted under this chapter; or (3) Has demonstrated a pattern or practice of failing to detect or disclose material information in previous reports filed under the provisions of this chapter.