South Dakota § 58-5A-80.6 Group-wide supervisor--Director cooperation.

South Dakota Statutes

§ 58-5A-80.6 — Group-wide supervisor--Director cooperation.

South Dakota § 58-5A-80.6

Title 58INSURANCE

Ch. 58-4AINSURANCE HOLDING COMPANIES

This text of South Dakota § 58-5A-80.6 (Group-wide supervisor--Director cooperation.) 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-80.6 (2026).

Text

If the director acknowledges that another regulatory official from a jurisdiction that is not accredited by the NAIC is the group-wide supervisor, the director may reasonably cooperate, through supervisory colleges, with group-wide supervision undertaken by the group-wide supervisor, if:

(1)The director's cooperation is in compliance with the laws of this state; and (2) The regulatory official acknowledged as the group-wide supervisor also recognizes and cooperates with the director's activities as a group-wide supervisor for other internationally active insurance groups, where applicable. If the recognition and cooperation is not reasonably reciprocal, the director may refuse recognition and cooperation.

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If the director acknowledges that another regulatory official from a jurisdiction that is not accredited by the NAIC is the group-wide supervisor, the director may reasonably cooperate, through supervisory colleges, with group-wide supervision undertaken by the group-wide supervisor, if: (1) The director's cooperation is in compliance with the laws of this state; and (2) The regulatory official acknowledged as the group-wide supervisor also recognizes and cooperates with the director's activities as a group-wide supervisor for other internationally active insurance groups, where applicable. If the recognition and cooperation is not reasonably reciprocal, the director may refuse recognition and cooperation.