If the director determines that any person fails to comply with the provisions of § 58-5A-3 , 58-5A-3.1 , 58-5A-4 , 58-5A-8 , 58-5A-9 , or 58-5A-45 preventing the full understanding of the enterprise risk to the insurer by the affiliates or by the insurance holding company system, the violation may serve as an independent basis for disapproving dividends or distributions. The director may place the insurer under an order of supervision pursuant to the provisions of chapter 58-29B .
‹ Prev All South Dakota sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.