South Dakota § 58-5A-29 Disclaimer of affiliation--Contents--Procedure on disallowance.

South Dakota Statutes

§ 58-5A-29 — Disclaimer of affiliation--Contents--Procedure on disallowance.

South Dakota § 58-5A-29

Title 58INSURANCE

Ch. 58-4AINSURANCE HOLDING COMPANIES

This text of South Dakota § 58-5A-29 (Disclaimer of affiliation--Contents--Procedure on disallowance.) 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-29 (2026).

Text

Any person may file with the director a disclaimer of affiliation with any authorized insurer or the disclaimer may be filed by the insurer or any member of an insurance holding company system. The disclaimer shall fully disclose all material relationships and basis for affiliation between the person and insurer as well as the basis for disclaiming the affiliation. A disclaimer of affiliation is deemed to have been granted unless the director, within thirty days following receipt of a complete disclaimer, notifies the filing party the disclaimer is disallowed. If disallowed, the disclaiming party may request an administrative hearing pursuant to chapter 1-26 within thirty days of the director's disallowance. A notice of hearing shall be issued within thirty days of a written request by the

Free access — add to your briefcase to read the full text and ask questions with AI

Any person may file with the director a disclaimer of affiliation with any authorized insurer or the disclaimer may be filed by the insurer or any member of an insurance holding company system. The disclaimer shall fully disclose all material relationships and basis for affiliation between the person and insurer as well as the basis for disclaiming the affiliation. A disclaimer of affiliation is deemed to have been granted unless the director, within thirty days following receipt of a complete disclaimer, notifies the filing party the disclaimer is disallowed. If disallowed, the disclaiming party may request an administrative hearing pursuant to chapter 1-26 within thirty days of the director's disallowance. A notice of hearing shall be issued within thirty days of a written request by the disclaiming party. The disclaiming party is relieved of the duty to register pursuant to this section if the director approves the disclaimer, or if the disclaimer is deemed to have been approved.