There is a newer version of the South Dakota Codified Laws
2011 South Dakota Code
Title 58 INSURANCE
Chapter 26. Valuation Of Assets, Liabilities And Reserves
§58-26-80 Adoption of higher standard of reserves--Lower standard to be approved.
SD Codified L § 58-26-80 (through 2011) What's This?
58-26-80. Adoption of higher standard of reserves--Lower standard to be approved. Any company which adopts any standard of valuation producing greater aggregate reserves than those calculated according to the minimum standard provided in this chapter may, with the approval of the director, adopt any lower standard of valuation, but not lower than the minimum provided by this chapter. However, for the purposes of this section and §§ 58-26-78 and 58-26-79, the holding of additional reserves previously determined by a qualified actuary to be necessary to render the opinion required by §§ 58-26-46 to 58-26-55, inclusive, is not considered to be the adoption of a higher standard of valuation.
Source: SL 1995, ch 284, § 36.
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