South Dakota Codified Laws 58-5A-89. Conditions under which director may require maintenance of risk management framework, conduct of ORSA, and filing of ORSA summary report
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Notwithstanding the exemptions from the requirements of §§ 58-5A-81 to 58-5A-93, inclusive, the director may require that an insurer maintain a risk management framework, conduct an ORSA, and file an ORSA summary report:
(1) Based on unique circumstances including the type and volume of business written, ownership and organizational structure, federal agency requests, and international supervisor requests; or
Terms Used In South Dakota Codified Laws 58-5A-89
- 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) If the insurer has risk-based capital levels requiring company action, meets one or more of the standards of an insurer deemed to be in hazardous financial condition, or otherwise exhibits qualities of a troubled insurer as determined by the director.
Source: SL 2017, ch 210, § 10.