South Dakota Codified Laws 58-46-5. Additional filing requirements
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In addition to the information required by § 58-46-4, each applicant captive insurance company shall file with the director evidence of the following:
(1) The amount and liquidity of its assets relative to the risks to be assumed;
Terms Used In South Dakota Codified Laws 58-46-5
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
(2) The adequacy of the expertise, experience, and character of the management;
(3) The overall soundness of its plan of operation;
(4) The adequacy of the loss prevention programs of its parent and affiliated entities; and
(5) Such other factors deemed relevant by the director in ascertaining whether the proposed captive insurance company will be able to meet its policy obligations.
Source: SL 1996, ch 287, § 5; SL 2013, ch 257, § 4.