58-14-16.9. Security required for domestic ceding insurer to qualify for full financial statement credit for reinsurance ceded to certified reinsurer.In order for a domestic ceding insurer to qualify for full financial statement credit for reinsurance ceded to a certified reinsurer, the certified reinsurer shall maintain security in a form acceptable to the director and consistent with §58-14-16, or in a multibeneficiary trust in accordance with §58-14-11, except as otherwise provided in §§58-14-16.8 to 58-14-16.13, inclusive. Source: SL 2017, ch 211, §20.
South Dakota Legal Code