South Dakota Codified Laws 58-46-3.1. Group, sponsored, or special purpose captive insurance company limit of exposureto loss
Current as of: 2023 | Check for updates
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A group, sponsored, or special purpose captive insurance company shall limit its exposure to loss on any one risk or hazard to an amount deemed acceptable by the director. The amount shall be determined based on whether the risk or hazard is reinsured through an insurance company that is licensed or accredited in this state, or other safeguards to the group, sponsored, or special purpose captive insurance company’s financial solvency and stability are adequate.
Terms Used In South Dakota Codified Laws 58-46-3.1
- State: when used in context signifying a jurisdiction other than the State of South Dakota, a state, the District of Columbia, a territory, commonwealth, or possession of the United States of America, or a province of the Dominion of Canada. See South Dakota Codified Laws 58-1-2
Source: SL 2013, ch 257, § 3.