South Dakota § 58-5A-80.3 Internationally active insurance group--Group-wide supervisor acknowledgment.

South Dakota Statutes

§ 58-5A-80.3 — Internationally active insurance group--Group-wide supervisor acknowledgment.

South Dakota § 58-5A-80.3

Title 58INSURANCE

Ch. 58-4AINSURANCE HOLDING COMPANIES

This text of South Dakota § 58-5A-80.3 (Internationally active insurance group--Group-wide supervisor acknowledgment.) 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-80.3 (2026).

Text

Notwithstanding any other provision in §§ 58-5A-80.1 to 58-5A-80.9, inclusive, if another regulatory official is acting as the group-wide supervisor of an internationally active insurance group, the director shall acknowledge that regulatory official as the group-wide supervisor. The director shall make a determination or acknowledgment as to the appropriate group-wide supervisor pursuant to § 58-5A-80.2 if a material change in the internationally active insurance group results in any of the following:

(1)The internationally active insurance group's insurers domiciled in this state hold the largest share of the group's premiums, assets or liabilities; or (2) This state becomes the place of domicile of the top-tiered insurer or insurers in the insurance holding company system of the intern

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

Notwithstanding any other provision in §§ 58-5A-80.1 to 58-5A-80.9, inclusive, if another regulatory official is acting as the group-wide supervisor of an internationally active insurance group, the director shall acknowledge that regulatory official as the group-wide supervisor. The director shall make a determination or acknowledgment as to the appropriate group-wide supervisor pursuant to § 58-5A-80.2 if a material change in the internationally active insurance group results in any of the following: (1) The internationally active insurance group's insurers domiciled in this state hold the largest share of the group's premiums, assets or liabilities; or (2) This state becomes the place of domicile of the top-tiered insurer or insurers in the insurance holding company system of the internationally active insurance group.