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2019 South Dakota Codified Laws
Title 58 - Insurance
Chapter 06 - Authority To Transact Insurance In State
§ 58-6-23 Paid-in capital and surplus requirements for certificate of authority.
Universal Citation: SD Codified L § 58-6-23 (2019)
58-6-23. Paid-in capital and surplus requirements for certificate of authority. To qualify for authority to transact any one kind of insurance or combination of kinds of insurance as shown below, a foreign insurer, or a domestic stock insurer applying for its original certificate of authority in this state, or any insurer reapplying for a certificate of authority in this state after having withdrawn from this state for any cause, shall possess and thereafter maintain unimpaired basic paid-in capital stock, if a stock insurer, or unimpaired basic surplus, if a foreign mutual insurer or foreign reciprocal insurer, and shall possess when first so authorized additional funds in surplus as follows:
| Kind or Kinds of | Basic Capital or Basic Surplus | Additional Surplus |
| Life | ||
| Domestic stock insurers | $200,000 | $300,000 |
| Foreign insurers | 300,000 | 350,000 |
| Health | ||
| Domestic stock insurers | 200,000 | 300,000 |
| Foreign insurers | 300,000 | 350,000 |
| Life and Health | ||
| Domestic stock insurers | 400,000 | 400,000 |
| Foreign insurers | 400,000 | 525,000 |
| Property | 200,000 | 300,000 |
| Casualty | ||
| Without Workers' Compensation | 200,000 | 300,000 |
| With Workers' Compensation | 300,000 | 350,000 |
| Marine and Transportation | 200,000 | 300,000 |
| Surety | 200,000 | 300,000 |
| Title | 200,000 | 300,000 |
| Multiple lines | 400,000 | 400,000 |
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