South Dakota Administrative Rules
Title 20 - PUBLIC SAFETY
Article 20:06 - INSURANCE
Chapter 20:06:31 - Credit for reinsurance
Section 20:06:31:05.01 - Security for risks located in foreign or alien jurisdictions
Universal Citation: SD Admin Rules 20:06:31:05.01
Current through Register Vol. 50, page 114, March 25, 2024
A specific security provided to a ceding insurer by an assuming insurer pursuant to SDCL 58-14-14 shall be applied, until exhausted, to the payment of liabilities of the assuming insurer to the ceding insurer holding the specific security prior to, and as a condition precedent for, presentation of a claim by the ceding insurer for payment by a trustee of a trust established by the assuming insurer pursuant to §§ 20:06:31:04.01 to 20:06:31:04.13, inclusive.
General Authority: SDCL 58-14-17.
Law Implemented: SDCL 58-14-17, 58-14-20.
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