South Dakota Codified Laws 58-5A-41.3. Agreements regarding sharing of confidential information
The director shall enter into written agreements with the NAIC governing the sharing and use of information provided pursuant to this chapter that:
(1) Specify procedures and protocols regarding the confidentiality and security of information shared with the NAIC and its affiliates and subsidiaries pursuant to this chapter, including procedures and protocols for sharing by the NAIC with any other state, federal, or international regulator;
Terms Used In South Dakota Codified Laws 58-5A-41.3
- 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
- Subpoena: A command to a witness to appear and give testimony.
- written: include typewriting and typewritten, printing and printed, except in the case of signatures, and where the words are used by way of contrast to typewriting and printing. See South Dakota Codified Laws 2-14-2
(2) Specify that ownership of information shared with the NAIC and its affiliates and subsidiaries pursuant to this chapter remains with the director and that the NAIC use of the information is subject to the direction of the director;
(3) Require prompt notice to be given to an insurer whose confidential information is in the possession of the NAIC pursuant to this chapter and is subject to a request or subpoena issued to the NAIC for disclosure or production; and
(4) Require the NAIC and its affiliates and subsidiaries to consent to intervention by an insurer in any judicial or administrative action in which the NAIC and its affiliates and subsidiaries may be required to disclose confidential information about the insurer shared with the NAIC and its affiliates and subsidiaries pursuant to this chapter.
Source: SL 2015, ch 246, § 17.