<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 58-46-21 - Ceding or taking credit for reserves. </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2077355Normal { 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.s2077355SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2077355CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2077355Normal-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.s2077355DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2077355000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2077355SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2077355SCL-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="s2077355Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=58-46-21"><span class="s2077355SENU">58-46-21</span></a><span xml:space="preserve" class="s2077355SENU">. </span><span class="s2077355CL">Ceding or taking credit for reserves.</span></p><p dir="ltr" class="s2077355Normal-000000"><span xml:space="preserve" class="s2077355DefaultParagraphFont">Any captive insurance company may take credit for reserves on risks or portions of risks ceded to reinsurers complying with provisions of chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=58-14"><span class="s2077355DefaultParagraphFont">58-14</span></a><span xml:space="preserve" class="s2077355DefaultParagraphFont"> or </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=58-46"><span class="s2077355DefaultParagraphFont">58-46</span></a><span xml:space="preserve" class="s2077355DefaultParagraphFont">. Prior approval of the director shall be required for ceding or taking credit for reserves on risks or portions of risks ceded to reinsurers not complying with chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=58-14"><span class="s2077355DefaultParagraphFont">58-14</span></a><span xml:space="preserve" class="s2077355DefaultParagraphFont"> or </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=58-46"><span class="s2077355DefaultParagraphFont">58-46</span></a><span class="s2077355DefaultParagraphFont">.</span></p><p dir="ltr" class="s2077355Normal"><span xml:space="preserve" class="s2077355000001"> </span></p><p dir="ltr" class="s2077355Normal"><span class="s2077355SCL">Source:</span><span xml:space="preserve" class="s2077355SCL-000002"> SL 1996, ch 287, § 21; SL 2013, ch 257, § 18.</span></p></div></body></html>