South Dakota Administrative Rules
Title 20 - PUBLIC SAFETY
Article 20:06 - INSURANCE
Chapter 20:06:01 - Administration
Section 20:06:01:05 - Record keeping

Universal Citation: SD Admin Rules 20:06:01:05
Current through Register Vol. 50, page 114, March 25, 2024

An insurer must keep for five years all insurance applications, riders, endorsements, or other documents which require the insured's signature to alter the terms or conditions of the policy or contract.

Records may be maintained in paper, photograph, microprocess, magnetic, mechanical, or electronic media or by any process which accurately reproduces a record or forms a durable medium for its reproduction. A company is in compliance with this section if it can produce the data which was contained on the original document. In cases where there is no paper document, a company is in compliance if it can produce information or data which accurately represents a record of representations by the insured to the company or accurately reflects a transaction or event.

General Authority: SDCL 58-3-26.

Law Implemented: SDCL 58-1-26, 58-3-7, 58-33-66.

Disclaimer: These regulations may not be the most recent version. South Dakota may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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