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2019 South Dakota Codified Laws
Title 58 - Insurance
Chapter 26 - Valuation Of Assets, Liabilities And Reserves
§ 58-26-35 Maintaining a reserve for outstanding losses under credit insurance policies.
Universal Citation: SD Codified L § 58-26-35 (2019)
58-26-35. Maintaining a reserve for outstanding losses under credit insurance policies. An insurer shall maintain a reserve for outstanding losses under credit insurance policies in accordance with the Annual Statement Instructions Manual prescribed by the National Association of Insurance Commissioners as adopted by rule by the director pursuant to chapter 1-26. But in any event, the reserve may not be less than the determined and estimated unpaid claims on all policies.
Source: SL 1966, ch 111, ch 5, § 8 (1); SL 1995, ch 284, § 46.
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