§ 58-43-1 Definition of terms
§ 58-43-2 Annual audit required–Filing audited financial report–Extension of filing date–Audit committee
§ 58-43-3 Foreign or alien insurers–Exemption
§ 58-43-4 Annual audited financial report–Contents
§ 58-43-5 Financial statements
§ 58-43-5.1 Examination of financial statements by accountant
§ 58-43-6 Registration of retained accountant–Letter of acknowledgment from accountant
§ 58-43-7 Notification of dismissal or resignation of insurer’s accountant–Reportingdisagreements
§ 58-43-8 Explanation of disagreements between insurer and accountant–Letters from bothinsurer and accountant to director
§ 58-43-9 Qualifications of accountant
§ 58-43-9.1 Disqualification of accountant
§ 58-43-9.2 Disqualification of accountant for services provided contemporaneously with audit
§ 58-43-9.3 Exemption from disqualification provisions of § 58-43-9.2
§ 58-43-9.4 Services which do not disqualify accountant–Audit committee preapproval
§ 58-43-9.5 Preapproval of auditing and nonaudit services by audit committee–SOX compliantentities
§ 58-43-9.6 Delegation of preapproval duties
§ 58-43-9.7 Disqualification of accountant due to previous employment of partner or seniormanager of insurer–Relief from requirement
§ 58-43-10 Rotation of accountant–Application for relief from rotation requirement
§ 58-43-11 Rejection of accountant or audited financial report–Grounds
§ 58-43-12 Disqualification hearing
§ 58-43-13 Application to file consolidated or combined financial statements–Worksheet–Contents
§ 58-43-14 Report of material misstatement of financial condition or that capital and surplusrequirements not met–Time limit–Liability of accountant
§ 58-43-15 Accountant’s action upon awareness of new facts subsequent to filing audited report
§ 58-43-16 Written communication as to unremediated material weaknesses in internal controlsover financial reporting
§ 58-43-16.1 Applicability of §§ 58-43-16.2 to 58-43-16.9
§ 58-43-16.2 Responsibilities of audit committee
§ 58-43-16.3 Membership of audit committee
§ 58-43-16.4 Independence of audit committee members
§ 58-43-16.5 Nonindependence of audit committee member for reasons outside the member’scontrol
§ 58-43-16.6 Election of controlling person to designate audit committee
§ 58-43-16.7 Report of accountant to audit committee
§ 58-43-16.8 Report of accountant where insurer is member of holding company system
§ 58-43-16.9 Criteria for proportion of audit committee members
§ 58-43-16.10 Hardship waiver of requirements of §§ 58-43-16.2 to 58-43-16.9, inclusive
§ 58-43-16.11 Materially false or misleading statements or omissions to accountant prohibited
§ 58-43-16.12 Coercion, manipulation, or fraudulent influence of accountant prohibited
§ 58-43-16.13 Management’s Report of Internal Control over Financial Reporting required of certaininsurers
§ 58-43-16.14 Circumstances under which director may require Management’s Report of InternalControl over Financial Reporting
§ 58-43-16.15 Certain insurers required to file Section 404 report and addendum
§ 58-43-16.16 Contents of Management’s Report of Internal Control over Financial Reporting
§ 58-43-16.17 Documentation of assertions made in Management’s Report of Internal Control overFinancial Reporting
§ 58-43-16.18 Discretion of management as to internal control framework and documentation
§ 58-43-16.19 Confidentiality of Management’s Report of Internal Control over Financial Reportingand documentation
§ 58-43-16.20 Compliance of insurers retaining independent accountant on July 1, 2009
§ 58-43-16.21 Compliance schedule for insurers not retaining independent accountant on July 1,2009
§ 58-43-16.22 Compliance of foreign insurers
§ 58-43-16.23 Applicability of §§ 58-43-10 and 58-43-16.2 to 58-43-16.10
§ 58-43-17 Letter from accountant stating accountant’s independent status, background,compliance with chapter and licensing
§ 58-43-18 Workpapers
§ 58-43-19 Availability of workpapers and communications related to audit between insurer andaccountant–Confidentiality of documents
§ 58-43-20 Hardship exemption–Hearing
§ 58-43-21 Compliance with chapter for year ending December 31, 1993–Foreign insurer for1994
§ 58-43-22 Application to Canadian and British insurers
§ 58-43-23 Fine, suspension, or revocation of license for violation
§ 58-43-24 Promulgation of rules by director
§ 58-43-25 Application of chapter
§ 58-43-26 Dispute resolution by mediation or arbitration

Terms Used In South Dakota Codified Laws > Title 58 > Chapter 43 - Independent Audit of Insurers

  • Appraisal: A determination of property value.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Dismissal: The dropping of a case by the judge without further consideration or hearing. Source:
  • 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.
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Fraud: Intentional deception resulting in injury to another.
  • Insurance business: includes the transaction of all matters pertaining to a contract of insurance, both before and after the effectuation of that contract, and all matters arising out of that contract or any claim thereunder. See South Dakota Codified Laws 58-1-2
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Oversight: Committee review of the activities of a Federal agency or program.
  • Person: includes natural persons, partnerships, associations, cooperative corporations, limited liability companies, and corporations. See South Dakota Codified Laws 2-14-2
  • 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
  • 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