South Dakota § 58-5A-103 Affiliate of certain domestic insurers--Jurisdiction of insurer's appointees.

South Dakota Statutes

§ 58-5A-103 — Affiliate of certain domestic insurers--Jurisdiction of insurer's appointees.

South Dakota § 58-5A-103

Title 58INSURANCE

Ch. 58-4AINSURANCE HOLDING COMPANIES

This text of South Dakota § 58-5A-103 (Affiliate of certain domestic insurers--Jurisdiction of insurer's appointees.) 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 § 58-5A-103 (2026).

Text

Any affiliate that is party to an agreement or contract with a domestic insurer that is referenced in subdivision 58-5A-56 (4) is subject to the jurisdiction of any supervision, seizure, conservatorship or receivership proceedings against the insurer and to the authority of any supervisor, conservator, rehabilitator, or liquidator for the insurer appointed pursuant to chapter 58-29B for the purpose of interpreting, enforcing, and overseeing the affiliate’s obligations under the agreement or contract to perform services for the insurer that:

(1)Are an integral part of the insurer’s operations, including management, administrative, accounting, data processing, marketing, underwriting, claims handling, investment, or any other similar functions; or (2) Are essential to the insurer’s ab

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Any affiliate that is party to an agreement or contract with a domestic insurer that is referenced in subdivision 58-5A-56 (4) is subject to the jurisdiction of any supervision, seizure, conservatorship or receivership proceedings against the insurer and to the authority of any supervisor, conservator, rehabilitator, or liquidator for the insurer appointed pursuant to chapter 58-29B for the purpose of interpreting, enforcing, and overseeing the affiliate’s obligations under the agreement or contract to perform services for the insurer that: (1) Are an integral part of the insurer’s operations, including management, administrative, accounting, data processing, marketing, underwriting, claims handling, investment, or any other similar functions; or (2) Are essential to the insurer’s ability to fulfill its obligations under insurance policies. The director may require that an agreement or contract referenced in subsection 58-5A-21 (2)(e), for the provision of services described in subdivisions (1) and (2) of this section, specify that the affiliate consents to the jurisdiction as set forth in this section.