<html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><title></title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.sba1389e5-dc15-42f0-86e5-b341f91413d8P0 { margin-top: 0; margin-bottom: 0; margin-left: 0; margin-right: 0; text-indent: 0.00in; text-align: center; background: white; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; } span.sba1389e5-dc15-42f0-86e5-b341f91413d8C0 { color: #000000; background: white; font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sba1389e5-dc15-42f0-86e5-b341f91413d8C0-000000 { color: #0000FF; background: white; font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sba1389e5-dc15-42f0-86e5-b341f91413d8000001 { color: #000000; background: white; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sba1389e5-dc15-42f0-86e5-b341f91413d8000002 { color: #000000; background: white; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } h1.sba1389e5-dc15-42f0-86e5-b341f91413d8P1 { margin-top: 0; margin-bottom: 0; margin-left: 0; margin-right: 0; text-indent: 0.00in; text-align: justify; background: white; font-family: Times; font-size: 12pt; line-height: 108%; } span.sba1389e5-dc15-42f0-86e5-b341f91413d8C0-000003 { color: #000000; background: white; font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.sba1389e5-dc15-42f0-86e5-b341f91413d8P0-000004 { margin-top: 0; margin-bottom: 0; margin-left: 0; margin-right: 0; text-indent: 0.00in; text-align: justify; background: white; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; } span.sba1389e5-dc15-42f0-86e5-b341f91413d8C0-000005 { color: #0000FF; background: white; font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="sba1389e5-dc15-42f0-86e5-b341f91413d8P0"><span xml:space="preserve" class="sba1389e5-dc15-42f0-86e5-b341f91413d8C0">CHAPTER </span><a href="https://sdlegislature.gov/Rules?Rule=20:06:59"><span class="sba1389e5-dc15-42f0-86e5-b341f91413d8C0-000000">20</span><span class="sba1389e5-dc15-42f0-86e5-b341f91413d8C0-000000">:</span><span class="sba1389e5-dc15-42f0-86e5-b341f91413d8C0-000000">06</span><span class="sba1389e5-dc15-42f0-86e5-b341f91413d8C0-000000">:</span><span class="sba1389e5-dc15-42f0-86e5-b341f91413d8C0-000000">59</span></a></p><p dir="ltr" class="sba1389e5-dc15-42f0-86e5-b341f91413d8P0"><span xml:space="preserve" class="sba1389e5-dc15-42f0-86e5-b341f91413d8000001"> </span></p><p dir="ltr" class="sba1389e5-dc15-42f0-86e5-b341f91413d8P0"><span class="sba1389e5-dc15-42f0-86e5-b341f91413d8C0">PRINCIPLE-BASED RESERVING</span></p><p dir="ltr" class="sba1389e5-dc15-42f0-86e5-b341f91413d8P0"><span xml:space="preserve" class="sba1389e5-dc15-42f0-86e5-b341f91413d8000002"> </span></p><p dir="ltr" class="sba1389e5-dc15-42f0-86e5-b341f91413d8P0"><span xml:space="preserve" class="sba1389e5-dc15-42f0-86e5-b341f91413d8000002"> </span></p><h1 dir="ltr" class="sba1389e5-dc15-42f0-86e5-b341f91413d8P1"><span class="sba1389e5-dc15-42f0-86e5-b341f91413d8C0-000003">Section</span></h1><p dir="ltr" class="sba1389e5-dc15-42f0-86e5-b341f91413d8P0-000004"><a href="https://sdlegislature.gov/Rules?Rule=20:06:59:01"><span class="sba1389e5-dc15-42f0-86e5-b341f91413d8C0-000005">20</span><span class="sba1389e5-dc15-42f0-86e5-b341f91413d8C0-000005">:</span><span class="sba1389e5-dc15-42f0-86e5-b341f91413d8C0-000005">06</span><span class="sba1389e5-dc15-42f0-86e5-b341f91413d8C0-000005">:</span><span class="sba1389e5-dc15-42f0-86e5-b341f91413d8C0-000005">59</span><span class="sba1389e5-dc15-42f0-86e5-b341f91413d8C0-000005">:</span><span class="sba1389e5-dc15-42f0-86e5-b341f91413d8C0-000005">01</span></a><span xml:space="preserve" class="sba1389e5-dc15-42f0-86e5-b341f91413d8C0-000003">        </span><span class="sba1389e5-dc15-42f0-86e5-b341f91413d8C0-000003">Valuation manual--Operative date.</span></p><p dir="ltr" class="sba1389e5-dc15-42f0-86e5-b341f91413d8P0-000004"><span xml:space="preserve" class="sba1389e5-dc15-42f0-86e5-b341f91413d8000002"> </span></p><p dir="ltr" class="sba1389e5-dc15-42f0-86e5-b341f91413d8P0-000004"><span xml:space="preserve" class="sba1389e5-dc15-42f0-86e5-b341f91413d8000002"> </span></p></div></body></html>