AN ACT
ENTITLED, An Act to require certain statements and audits concerning insurance pooling
arrangements to be filed with the Department of Legislative Audit.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA:
Section 1. That chapter 1-24 be amended by adding a NEW SECTION to read:
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA:
Section 1. That chapter 1-24 be amended by adding a NEW SECTION to read:
Each pool arrangement, as defined in § 1-24-11, shall have an annual audit of its financial
statements conducted in accordance with generally accepted government auditing standards. A copy
of the audited financial statements shall be filed with the Department of Legislative Audit within
twelve months of the close of the previous fiscal year for the pool arrangement. The department shall
make audited financial statements filed pursuant to this section available to the public on the
department's website. The auditor-general may examine all financial records, related to funds
provided by the state or its political subdivisions, of any pool arrangement if deemed necessary and
in the public interest by the auditor-general.
An Act to require certain statements and audits concerning insurance pooling arrangements to be filed with the Department of Legislative Audit.
An Act to require certain statements and audits concerning insurance pooling arrangements to be filed with the Department of Legislative Audit.
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I certify that the attached Act originated in the
HOUSE as Bill No. 1090
____________________________
Chief Clerk ____________________________
Speaker of the House
Attest:
____________________________
Chief Clerk
____________________________
Attest:
____________________________
Secretary of the Senate
House Bill No. 1090 File No. ____ Chapter No. ______ |
Received at this Executive Office this _____ day of _____________ ,
20____ at ____________ M.
By _________________________
for the Governor
The attached Act is hereby
approved this ________ day of
______________ , A.D., 20___
____________________________
Governor STATE OF SOUTH DAKOTA, ss.
Office of the Secretary of State
Filed ____________ , 20___
____________________________ Secretary of State
By _________________________ |
