South Dakota § 58-43-16.5 Nonindependence of audit committee member for reasons outside the member's control.

South Dakota Statutes

§ 58-43-16.5 — Nonindependence of audit committee member for reasons outside the member's control.

South Dakota § 58-43-16.5

Title 58INSURANCE

Ch. 58-43INDEPENDENT AUDIT OF INSURERS

This text of South Dakota § 58-43-16.5 (Nonindependence of audit committee member for reasons outside the member's control.) 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 § 58-43-16.5 (2026).

Text

If a member of the audit committee ceases to be independent for reasons outside the member's reasonable control, that person, with notice by the responsible entity to the director, may remain an audit committee member of the responsible entity until the earlier of the next annual meeting of the responsible entity or one year from the occurrence of the event that caused the member to be no longer independent.

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If a member of the audit committee ceases to be independent for reasons outside the member's reasonable control, that person, with notice by the responsible entity to the director, may remain an audit committee member of the responsible entity until the earlier of the next annual meeting of the responsible entity or one year from the occurrence of the event that caused the member to be no longer independent.