2019 South Dakota Codified Laws
Title 58 - Insurance
Chapter 26 - Valuation Of Assets, Liabilities And Reserves
§ 58-26-103 Confidential information privileged--Use and sharing.

58-26-103. Confidential information privileged--Use and sharing. (1) Except as provided in §§ 58-26-102 to 58-26-104, inclusive, a company's confidential information is confidential by law and privileged, and is not subject to open records, freedom of information, sunshine or other appropriate phrase, is not subject to subpoena and is not subject to discovery or admissible in evidence in any private civil action; provided, however, that the director is authorized to use the confidential information in the furtherance of any regulatory or legal action brought against the company as a part of the director's official duties;

(2) Neither the director nor any person who received confidential information while acting under the authority of the director is permitted to testify in any private civil action concerning any confidential information;

(3) In order to assist in the performance of the director's duties, the director may share confidential information:

(a) With other state, federal, and international regulatory agencies and with the NAIC and its affiliates and subsidiaries; and

(b) In the case of confidential information specified in subdivisions 58-26-102(1) and (4) only, with the Actuarial Board for Counseling and Discipline or its successor upon request stating that the confidential information is required for the purpose of professional disciplinary proceedings and with state, federal, and international law enforcement officials;

In the case of (a) and (b), provided that such recipient agrees, and has the legal authority to agree, to maintain the confidentiality and privileged status of such documents, materials, data, and other information in the same manner and to the same extent as required for the director;

(4) The director may receive documents, materials, data, and other information, including otherwise confidential and privileged documents, materials, data, or information, from the NAIC and its affiliates and subsidiaries, from regulatory or law enforcement officials of other foreign or domestic jurisdictions and from the Actuarial Board for Counseling and Discipline or its successor and shall maintain as confidential or privileged any document, material, data, or other information received with notice or the understanding that it is confidential or privileged under the laws of the jurisdiction that is the source of the document, material, or other information;

(5) The director may enter into agreements governing sharing and use of information consistent with this section;

(6) No waiver of any applicable privilege or claim of confidentiality in the confidential information occurs as a result of disclosure to the director pursuant to this section or as a result of sharing as authorized in subdivision (3);

(7) A privilege established under the law of any state or jurisdiction that is substantially similar to the privilege established pursuant to this section is available and enforced in any proceeding in, and in any court of, this state;

(8) For purposes of §§ 58-26-102 to 58-26-104, inclusive, regulatory agency, law enforcement agency, and the NAIC include their employees, agents, consultants, and contractors.
Source: SL 2015, ch 254, § 37.