South Dakota Codified Laws 58-26-50. Provisions governing submission of actuary’s opinion
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Any opinion required by §§ 58-26-46 to 58-26-49, inclusive, shall be governed by the following provisions:
(1) The opinion shall be submitted with the annual statement reflecting the valuation of the reserve liabilities for each year ending on or after December 31, 1995;
Terms Used In South Dakota Codified Laws 58-26-50
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
(2) The opinion shall apply to any business in force including individual and group health insurance plans, in form and substance acceptable to the director specified by rules promulgated pursuant to chapter 1-26;
(3) The opinion shall be based on standards adopted from time to time by the Actuarial Standards Board and on additional standards as the director may by rules prescribe.
Source: SL 1995, ch 284, § 6.