South Dakota § 58-46-3.1 Group, sponsored, or special purpose captive insurance company limit of exposure to loss.

South Dakota Statutes

§ 58-46-3.1 — Group, sponsored, or special purpose captive insurance company limit of exposure to loss.

South Dakota § 58-46-3.1

Title 58INSURANCE

Ch. 58-46CAPTIVE INSURANCE COMPANIES

This text of South Dakota § 58-46-3.1 (Group, sponsored, or special purpose captive insurance company limit of exposure to loss.) 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 § 58-46-3.1 (2026).

Text

A group, sponsored, or special purpose captive insurance company shall limit its exposure to loss on any one risk or hazard to an amount deemed acceptable by the director. The amount shall be determined based on whether the risk or hazard is reinsured through an insurance company that is licensed or accredited in this state, or other safeguards to the group, sponsored, or special purpose captive insurance company's financial solvency and stability are adequate.

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A group, sponsored, or special purpose captive insurance company shall limit its exposure to loss on any one risk or hazard to an amount deemed acceptable by the director. The amount shall be determined based on whether the risk or hazard is reinsured through an insurance company that is licensed or accredited in this state, or other safeguards to the group, sponsored, or special purpose captive insurance company's financial solvency and stability are adequate.