South Dakota Administrative Rules
Title 20 - PUBLIC SAFETY
Article 20:06 - INSURANCE
Chapter 20:06:31 - Credit for reinsurance
Section 20:06:31:22 - Interest payments and amounts drawn in excess
Universal Citation: SD Admin Rules 20:06:31:22
Current through Register Vol. 50, page 114, March 25, 2024
Nothing contained in § 20:06:31:21 shall preclude the ceding insurer and assuming insurer from providing for:
(1) An interest payment, at a rate not in excess of the prime rate of interest, on the amounts held pursuant to subdivision 20:06:31:21(2); or
(2) The return of any amounts drawn down on the letters of credit in excess of the actual amounts required that are subsequently determined not to be due.
General Authority: SDCL 58-14-17.
Law Implemented: SDCL 58-14-16, 58-14-17.
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