South Dakota § 58-6A-4 Financial information submitted to director.

South Dakota Statutes

§ 58-6A-4 — Financial information submitted to director.

South Dakota·Title 58 INSURANCE·Ch. 58-5C RISK RETENTION GROUPS

Any risk retention group doing business in this state shall submit to the director:

(1)A copy of the group's financial statement submitted to its state of domicile, which shall be certified by an independent public accountant and contain a statement of opinion on loss and loss adjustment expense reserves made by a member of the American Academy of Actuaries or a qualified loss reserve specialist under criteria established by the National Association of Insurance Commissioners;

(2)A copy of each examination of the risk retention group as certified by the director or public official conducting the examination;

(3)Upon request by the director, a copy of any audit performed with respect to the risk retention group; and (4) Such information as may be required to verify its contin

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Any risk retention group doing business in this state shall submit to the director: (1) A copy of the group's financial statement submitted to its state of domicile, which shall be certified by an independent public accountant and contain a statement of opinion on loss and loss adjustment expense reserves made by a member of the American Academy of Actuaries or a qualified loss reserve specialist under criteria established by the National Association of Insurance Commissioners; (2) A copy of each examination of the risk retention group as certified by the director or public official conducting the examination; (3) Upon request by the director, a copy of any audit performed with respect to the risk retention group; and (4) Such information as may be required to verify its continuing qualification as a risk retention group under this chapter.

South Dakota § 58-6A-4 (Financial information submitted to director.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.