§ 58-44-1 Definition of terms
§ 58-44-2 Application of chapter to licensed insurers–Application of chapter 58-5A
§ 58-44-3 Application of chapter based on gross written premium on business placed with controlledinsurer
§ 58-44-4 Chapter not applicable under certain circumstances
§ 58-44-5 Written contract required–Provisions
§ 58-44-6 Audit committee of controlled insurer–Annual meeting
§ 58-44-7 Annual report of loss ratios and loss reserves
§ 58-44-8 Notice from controlling broker to prospective insured–Subbroker
§ 58-44-9 Consequences of noncompliance with chapter–Civil action by director
§ 58-44-10 Civil action in behalf of insurer for violation while under order for liquidation orrehabilitation
§ 58-44-11 Rights of director to impose penalties
§ 58-44-12 Rights of third parties
§ 58-44-13 Time limit for compliance
§ 58-44-14 Disapproval of contract between controlling broker and controlled insurer
§ 58-44-15 Promulgation of rules

Terms Used In South Dakota Codified Laws > Title 58 > Chapter 44 - Broker Controlled Property and Casualty Insurance

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Contract: A legal written agreement that becomes binding when signed.
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. Source: OCC
  • Fiduciary: A trustee, executor, or administrator.
  • 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
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Person: includes natural persons, partnerships, associations, cooperative corporations, limited liability companies, and corporations. See South Dakota Codified Laws 2-14-2
  • Property: includes property, real and personal. 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