South Dakota § 58-46-5 Additional filing requirements.

South Dakota Statutes

§ 58-46-5 — Additional filing requirements.

South Dakota·Title 58 INSURANCE·Ch. 58-46 CAPTIVE INSURANCE COMPANIES

In addition to the information required by § 58-46-4 , each applicant captive insurance company shall file with the director evidence of the following:

(1)The amount and liquidity of its assets relative to the risks to be assumed;

(2)The adequacy of the expertise, experience, and character of the management;

(3)The overall soundness of its plan of operation;

(4)The adequacy of the loss prevention programs of its parent and affiliated entities; and (5) Such other factors deemed relevant by the director in ascertaining whether the proposed captive insurance company will be able to meet its policy obligations.

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In addition to the information required by § 58-46-4 , each applicant captive insurance company shall file with the director evidence of the following: (1) The amount and liquidity of its assets relative to the risks to be assumed; (2) The adequacy of the expertise, experience, and character of the management; (3) The overall soundness of its plan of operation; (4) The adequacy of the loss prevention programs of its parent and affiliated entities; and (5) Such other factors deemed relevant by the director in ascertaining whether the proposed captive insurance company will be able to meet its policy obligations.

South Dakota § 58-46-5 (Additional filing requirements.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.