South Dakota Codified Laws 58-5A-9.1. Disapproval of dividends or distributions for violation–Order of supervision
Current as of: 2023 | Check for updates
|
Other versions
If the director determines that any person fails to comply with the provisions of § 58-5A-3, 58-5A-3.1, 58-5A-4, 58-5A-8, 58-5A-9, or 58-5A-45 preventing the full understanding of the enterprise risk to the insurer by the affiliates or by the insurance holding company system, the violation may serve as an independent basis for disapproving dividends or distributions. The director may place the insurer under an order of supervision pursuant to the provisions of chapter 58-29B.
Terms Used In South Dakota Codified Laws 58-5A-9.1
- Person: includes natural persons, partnerships, associations, cooperative corporations, limited liability companies, and corporations. See South Dakota Codified Laws 2-14-2
Source: SL 2015, ch 246, § 26.