<html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 58-14-7 - Credit for reinsurance allowed for domestic ceding insurer as asset or reduction. </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2074668Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2074668SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2074668CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2074668Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2074668DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2074668000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2074668SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2074668SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } body { text-decoration-skip-ink: none; } </style></head><body><div><p dir="ltr" class="s2074668Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=58-14-7"><span class="s2074668SENU">58-14-7</span></a><span xml:space="preserve" class="s2074668SENU">. </span><span class="s2074668CL">Credit for reinsurance allowed for domestic ceding insurer as asset or reduction.</span></p><p dir="ltr" class="s2074668Normal-000000"><span xml:space="preserve" class="s2074668DefaultParagraphFont">Credit for reinsurance shall be allowed a domestic ceding insurer as either an asset or a reduction from liability on account of reinsurance ceded only when the reinsurer meets any one of the requirements of § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=58-14-8"><span class="s2074668DefaultParagraphFont">58-14-8</span></a><span xml:space="preserve" class="s2074668DefaultParagraphFont">, </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=58-14-9"><span class="s2074668DefaultParagraphFont">58-14-9</span></a><span xml:space="preserve" class="s2074668DefaultParagraphFont">, </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=58-14-10"><span class="s2074668DefaultParagraphFont">58-14-10</span></a><span xml:space="preserve" class="s2074668DefaultParagraphFont">, </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=58-14-11"><span class="s2074668DefaultParagraphFont">58-14-11</span></a><span xml:space="preserve" class="s2074668DefaultParagraphFont">, </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=58-14-14"><span class="s2074668DefaultParagraphFont">58-14-14</span></a><span xml:space="preserve" class="s2074668DefaultParagraphFont">, or </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=58-14-16.1"><span class="s2074668DefaultParagraphFont">58-14-16.1</span></a><span xml:space="preserve" class="s2074668DefaultParagraphFont">. If meeting the requirements of § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=58-14-10"><span class="s2074668DefaultParagraphFont">58-14-10</span></a><span xml:space="preserve" class="s2074668DefaultParagraphFont"> or </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=58-14-11"><span class="s2074668DefaultParagraphFont">58-14-11</span></a><span xml:space="preserve" class="s2074668DefaultParagraphFont">, the requirements of § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=58-14-15"><span class="s2074668DefaultParagraphFont">58-14-15</span></a><span xml:space="preserve" class="s2074668DefaultParagraphFont"> shall also be met. Credit shall be allowed under § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=58-14-8"><span class="s2074668DefaultParagraphFont">58-14-8</span></a><span xml:space="preserve" class="s2074668DefaultParagraphFont">, </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=58-14-9"><span class="s2074668DefaultParagraphFont">58-14-9</span></a><span xml:space="preserve" class="s2074668DefaultParagraphFont">, or </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=58-14-10"><span class="s2074668DefaultParagraphFont">58-14-10</span></a><span xml:space="preserve" class="s2074668DefaultParagraphFont"> only as respects cessions of those kinds or classes of business which the assuming insurer is licensed or permitted to write or assume in its state of domicile or, in the case of a United States branch of an alien assuming insurer, in the state through which it is entered and licensed to transact insurance or reinsurance.</span></p><p dir="ltr" class="s2074668Normal"><span xml:space="preserve" class="s2074668000001"> </span></p><p dir="ltr" class="s2074668Normal"><span class="s2074668SCL">Source:</span><span xml:space="preserve" class="s2074668SCL-000002"> SL 1992, ch 344, § 1; SL 2017, ch 211, § 1.</span></p></div></body></html>