South Dakota § 58-5A-41 Confidentiality of information in possession or control of Division--Use in regulatory or legal action--Grounds for publication by director.

South Dakota Statutes

§ 58-5A-41 — Confidentiality of information in possession or control of Division--Use in regulatory or legal action--Grounds for publication by director.

South Dakota·Title 58 INSURANCE·Ch. 58-4A INSURANCE HOLDING COMPANIES

Documents, materials, or other information including filings in the possession or control of the Division of Insurance that are obtained by or disclosed to the director or any other person in the course of an examination or investigation made pursuant to this chapter and all information reported pursuant to this chapter are recognized as being proprietary and to contain trade secrets, and are confidential by law and privileged, are not subject to open records, freedom of information, sunshine, or other related laws, are not subject to subpoena, and are not subject to discovery or admissible in evidence in any private civil action. However, the director is authorized to use the documents, materials, or other information in the furtherance of any regulatory or legal action brought as a part 

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Documents, materials, or other information including filings in the possession or control of the Division of Insurance that are obtained by or disclosed to the director or any other person in the course of an examination or investigation made pursuant to this chapter and all information reported pursuant to this chapter are recognized as being proprietary and to contain trade secrets, and are confidential by law and privileged, are not subject to open records, freedom of information, sunshine, or other related laws, are not subject to subpoena, and are not subject to discovery or admissible in evidence in any private civil action. However, the director is authorized to use the documents, materials, or other information in the furtherance of any regulatory or legal action brought as a part of the director's official duties. The director may not otherwise make the documents, materials, or other information public without the prior written consent of the insurer to which it pertains unless the director, after giving the insurer and its affiliates who would be affected thereby notice and opportunity to be heard, determines that the interest of policyholders, shareholders, or the public will be served by the publication thereof, in which event the director may publish all or any part. For purposes of the information reported and provided to the director pursuant to § 58-5A-94 , the director shall maintain the confidentiality of the group capital calculation and group capital ratio produced within the calculation and any group capital information received from an insurance holding company supervised by the Federal Reserve Board or any U.S. group-wide supervisor. For purposes of the information reported and provided to the director pursuant to § 58-5A-97 , the director shall maintain the confidentiality of the liquidity stress test results and supporting disclosures and any liquidity stress test information received from an insurance holding company supervised by the Federal Reserve Board and non-U.S. group-wide supervisors.

South Dakota § 58-5A-41 (Confidentiality of information in possession or control of Division--Use in regulatory or legal action--Grounds for publication by director.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.