South Dakota Administrative Rules
Title 20 - PUBLIC SAFETY
Article 20:07 - BANKING
Chapter 20:07:18 - Purchase of life insurance
Section 20:07:18:06 - Financial information
Universal Citation: SD Admin Rules 20:07:18:06
Current through Register Vol. 50, page 114, March 25, 2024
Before purchasing a cash value life insurance policy, the board of directors shall evaluate the financial condition and rating, if any, of the insurance company based on current financial information. This evaluation and all subsequent evaluations shall be recorded in the minutes of the board of directors. The board shall continue to evaluate the company's financial condition and rating at least annually.
General Authority: SDCL 51A-2-13, 51A-4-42.
Law Implemented: SDCL 51A-4-42.
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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