South Dakota § 58-44-1 Definition of terms.

South Dakota Statutes

§ 58-44-1 — Definition of terms.

South Dakota § 58-44-1

Title 58INSURANCE

Ch. 58-44BROKER CONTROLLED PROPERTY AND CASUALTY INSURANCE

This text of South Dakota § 58-44-1 (Definition of terms.) 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 § 58-44-1 (2026).

Text

Terms used in this chapter mean:

(1)"Accredited state," any state in which the insurance department or regulatory agency has qualified as meeting the minimum financial regulatory standards promulgated and established by the National Association of Insurance Commissioners (NAIC);

(2)"Control" or "controlled," as defined in chapter 58-5A ;

(3)"Controlled insurer," any licensed insurer which is controlled, directly or indirectly, by a broker;

(4)"Controlling broker," any person who, directly or indirectly, controls an insurer and for any compensation, commission, or other thing of value, acts or aids in any manner in soliciting, negotiating, or procuring the making of any insurance contract on behalf of an insured other than the controlling broker;

(5)"Licensed insurer" or

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Terms used in this chapter mean: (1) "Accredited state," any state in which the insurance department or regulatory agency has qualified as meeting the minimum financial regulatory standards promulgated and established by the National Association of Insurance Commissioners (NAIC); (2) "Control" or "controlled," as defined in chapter 58-5A ; (3) "Controlled insurer," any licensed insurer which is controlled, directly or indirectly, by a broker; (4) "Controlling broker," any person who, directly or indirectly, controls an insurer and for any compensation, commission, or other thing of value, acts or aids in any manner in soliciting, negotiating, or procuring the making of any insurance contract on behalf of an insured other than the controlling broker; (5) "Licensed insurer" or "insurer," any person duly licensed to transact a property and casualty insurance business in this state. The term does not include any residual market pool or any joint underwriting authority or association.