<HTML> <HEAD> <HTML> <HEAD> <meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 62-5 - INSURANCE AND SECURITY FOR PAYMENTS 62-5 INSURANCE AND SECURITY FOR PAYMENTS </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 62-5 INSURANCE AND SECURITY FOR PAYMENTS "> <META NAME="Description" Content="South Dakota Codified Laws 62-5"> </HEAD> <BODY> <!-- File converted by Wp2Html Version 4.0 --> <!-- Email Andrew@brackenbeds.co.uk for more details --> <!-- WP Style Open: System_34 --><!-- WP Style End: System_34 --> <Div align="full"> <!-- WP Paired Style On: HG4 --><Div align="center"><!-- WP Style End: HG4 --> CHAPTER 62-5 <!-- WP Paired Style Off: HG4 --><!-- WP Style End: HG4 --> </Div> <br> <!-- WP Paired Style On: HG4C --><Div align="center"><!-- WP Style End: HG4C --> INSURANCE AND SECURITY FOR PAYMENTS <!-- WP Paired Style Off: HG4C --><!-- WP Style End: HG4C --> </Div> <br> <p> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=62-5-1">62-5-1</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Methods of securing payment of compensation. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=62-5-2">62-5-2</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Obtaining workers' compensation insurance. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=62-5-3">62-5-3</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Reciprocal or interinsurance contracts providing indemnity for loss under workers' compensation law. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=62-5-4">62-5-4</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Repealed. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=62-5-5">62-5-5</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Self-insurance by employer--Annual proof of solvency and financial ability--Application fee--Deposit of fees--Certificate of exemption. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=62-5-6">62-5-6</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Exemption of political subdivisions from security provisions. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=62-5-7">62-5-7</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Failure to secure payment as election not to operate under title. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=62-5-8">62-5-8</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Commission for placing insurance limited. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=62-5-9">62-5-9</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Issuance of policy to employer--Certification to department. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=62-5-10">62-5-10</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Surety for performance required for self-insurers--Irrevocable trust. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=62-5-11">62-5-11</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Requirements for acceptance of irrevocable letter of credit--Definitions. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=62-5-12">62-5-12</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Deposit of surety bonds, letters of credit, etc. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=62-5-13">62-5-13</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Deposit of certificate of deposit or government securities. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=62-5-14">62-5-14</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Deposit and withdrawal of cash. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=62-5-15">62-5-15</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Perfected security interest in deposit--Release of security interest. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=62-5-16">62-5-16</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Claims administration contracts. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=62-5-17">62-5-17</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Repealed. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=62-5-18">62-5-18</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Reduction of premium where employer selects a policy with a deductible. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=62-5-19">62-5-19</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Deductible does not affect reporting requirements. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=62-5-20">62-5-20</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Insurer to pay entire loss--Employer to reimburse deductible amount. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=62-5-21">62-5-21</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Provision of medical services and health care. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <p> </BODY> </HTML> <br /><hr><br /><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 62-5 - INSURANCE AND SECURITY FOR PAYMENTS </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2078266Normal { 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.s2078266SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2078266CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2078266Normal-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.s2078266DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2078266000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2078266SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2078266SCL-000002 { 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="s2078266Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=62-5-1"><span class="s2078266SENU">62-5-1</span></a><span xml:space="preserve" class="s2078266SENU">. </span><span class="s2078266CL">Methods of securing payment of compensation.</span></p><p dir="ltr" class="s2078266Normal-000000"><span xml:space="preserve" class="s2078266DefaultParagraphFont">Except as otherwise provided in §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=62-5-5"><span class="s2078266DefaultParagraphFont">62-5-5</span></a><span xml:space="preserve" class="s2078266DefaultParagraphFont"> and </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=62-5-6"><span class="s2078266DefaultParagraphFont">62-5-6</span></a><span xml:space="preserve" class="s2078266DefaultParagraphFont">, any employer, coming within the compensation provisions of this title, shall secure the payment of compensation to the employer's employees in one of the ways provided by § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=62-5-2"><span class="s2078266DefaultParagraphFont">62-5-2</span></a><span xml:space="preserve" class="s2078266DefaultParagraphFont"> or </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=62-5-3"><span class="s2078266DefaultParagraphFont">62-5-3</span></a><span class="s2078266DefaultParagraphFont">. If the payment of compensation is so secured, the employer is liable to any employee for injury or death arising out of and in the course of the employment only as specified by this title.</span></p><p dir="ltr" class="s2078266Normal"><span xml:space="preserve" class="s2078266000001"> </span></p><p dir="ltr" class="s2078266Normal"><span class="s2078266SCL">Source:</span><span xml:space="preserve" class="s2078266SCL-000002"> SDC 1939, § 64.0106; SL 1996, ch 306, § 1.</span></p></div></body></html><br /><hr><br /><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 62-5 - INSURANCE AND SECURITY FOR PAYMENTS </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2078267Normal { 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.s2078267SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2078267CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2078267Normal-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.s2078267DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2078267000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2078267SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2078267SCL-000002 { 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="s2078267Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=62-5-2"><span class="s2078267SENU">62-5-2</span></a><span xml:space="preserve" class="s2078267SENU">. </span><span class="s2078267CL">Obtaining workers' compensation insurance.</span></p><p dir="ltr" class="s2078267Normal-000000"><span class="s2078267DefaultParagraphFont">An employer may secure the payment of compensation to any employee by insuring and keeping insured the payment of the compensation with any stock corporation writing workers' compensation insurance or any mutual employer's liability association authorized to transact the business of workers' compensation insurance in this state or in an association authorized to exchange reciprocal or interinsurance contracts by individuals, partnerships, or corporations.</span></p><p dir="ltr" class="s2078267Normal"><span xml:space="preserve" class="s2078267000001"> </span></p><p dir="ltr" class="s2078267Normal"><span class="s2078267SCL">Source:</span><span xml:space="preserve" class="s2078267SCL-000002"> SL 1931, ch 271, § 1; SDC 1939, § 64.0106 (1); SL 2008, ch 278, § 35.</span></p></div></body></html><br /><hr><br /><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 62-5 - INSURANCE AND SECURITY FOR PAYMENTS </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2078268Normal { 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.s2078268SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2078268CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2078268Normal-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.s2078268DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2078268000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2078268SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2078268SCL-000002 { 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="s2078268Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=62-5-3"><span class="s2078268SENU">62-5-3</span></a><span xml:space="preserve" class="s2078268SENU">. </span><span class="s2078268CL">Reciprocal or interinsurance contracts providing indemnity for loss under workers' compensation law.</span></p><p dir="ltr" class="s2078268Normal-000000"><span xml:space="preserve" class="s2078268DefaultParagraphFont">An employer may secure the payment of compensation to any employee by insuring and keeping insured the payment of the compensation in some association organized for the exchange of reciprocal or interinsurance contracts with each other by individuals, partnerships, or corporations of this state for the purpose of providing indemnity among themselves from any loss under the workers' compensation law, if the association is authorized to do the business of entering into reciprocal or interinsurance contracts by the director of the Division of Insurance. Nothing in this section applies to reciprocal or interinsurance exchanges authorized to do business under the provisions of chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=58-34"><span class="s2078268DefaultParagraphFont">58-34</span></a><span class="s2078268DefaultParagraphFont">.</span></p><p dir="ltr" class="s2078268Normal"><span xml:space="preserve" class="s2078268000001"> </span></p><p dir="ltr" class="s2078268Normal"><span class="s2078268SCL">Source:</span><span xml:space="preserve" class="s2078268SCL-000002"> SL 1931, ch 271, § 1; SDC 1939, § 64.0106 (2); SL 2008, ch 278, § 36.</span></p></div></body></html><br /><hr><br /><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 62-5 - INSURANCE AND SECURITY FOR PAYMENTS </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2078269Normal { 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.s2078269SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2078269CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2078269Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=62-5-4"><span class="s2078269SENU">62-5-4</span></a><span xml:space="preserve" class="s2078269SENU">. </span><span class="s2078269CL">Repealed by SL 1996, ch 306, § 2.</span></p></div></body></html><br /><hr><br /><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 62-5 - INSURANCE AND SECURITY FOR PAYMENTS </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2078270Normal { 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.s2078270SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2078270CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2078270Normal-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.s2078270DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2078270Normal-000001 { margin-top: 0; margin-bottom: 0; text-indent: 0.25in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2078270000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2078270SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2078270SCL-000003 { 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="s2078270Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=62-5-5"><span class="s2078270SENU">62-5-5</span></a><span xml:space="preserve" class="s2078270SENU">. </span><span class="s2078270CL">Self-insurance by employer--Annual proof of solvency and financial ability--Application fee--Deposit of fees--Certificate of exemption.</span></p><p dir="ltr" class="s2078270Normal-000000"><span xml:space="preserve" class="s2078270DefaultParagraphFont">If an employer coming under the provisions of this title annually furnishes satisfactory proof to the Department of Labor and Regulation of the employer's solvency and financial ability to pay the compensation required by this title, the employer is relieved from the provisions of § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=62-5-1"><span class="s2078270DefaultParagraphFont">62-5-1</span></a><span xml:space="preserve" class="s2078270DefaultParagraphFont">. Each employer shall submit an application fee not to exceed two thousand five hundred dollars to the Department of Labor and Regulation at the time proof of solvency is submitted. The Department of Labor and Regulation shall set, by rules promulgated pursuant to chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=1-26"><span class="s2078270DefaultParagraphFont">1-26</span></a><span class="s2078270DefaultParagraphFont">, the amount of the application fee.</span></p><p dir="ltr" class="s2078270Normal-000001"><span class="s2078270DefaultParagraphFont">All fees paid to the department pursuant to this section shall be deposited with the state treasurer and shall be credited to the Department of Labor and Regulation special revenue fund which is hereby created. The money deposited shall be dedicated and continuously appropriated to the department for purposes of conducting an actuarial review of the applicant's financial condition and automating the administration of the workers' compensation law.</span></p><p dir="ltr" class="s2078270Normal-000001"><span xml:space="preserve" class="s2078270DefaultParagraphFont">Upon receiving satisfactory proof of financial solvency and surety for performance required by § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=62-5-10"><span class="s2078270DefaultParagraphFont">62-5-10</span></a><span xml:space="preserve" class="s2078270DefaultParagraphFont">, the department shall issue a certificate of exemption relieving the employer of the obligation to purchase worker's compensation insurance provided in §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=62-5-2"><span class="s2078270DefaultParagraphFont">62-5-2</span></a><span xml:space="preserve" class="s2078270DefaultParagraphFont"> and </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=62-5-3"><span class="s2078270DefaultParagraphFont">62-5-3</span></a><span class="s2078270DefaultParagraphFont">. The department may revoke this certificate if the employer fails to comply with the provisions of titles 58 and 62, or with any rules promulgated by the Department of Labor and Regulation.</span></p><p dir="ltr" class="s2078270Normal"><span xml:space="preserve" class="s2078270000002"> </span></p><p dir="ltr" class="s2078270Normal"><span class="s2078270SCL">Source:</span><span xml:space="preserve" class="s2078270SCL-000003"> SDC 1939, § 64.0106(4); SL 1941, ch 371; SL 1986, ch 428; SL 1990, ch 417; SL 1994, ch 93, § 2; SL 1996, ch 306, § 3; SL 2011, ch 1 (Ex. Ord. </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=11-1"><span class="s2078270SCL-000003">11-1</span></a><span class="s2078270SCL-000003">), § 33, eff. Apr. 12, 2011; SL 2018, ch 285, § 1.</span></p></div></body></html><br /><hr><br /><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 62-5 - INSURANCE AND SECURITY FOR PAYMENTS </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2078271Normal { 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.s2078271SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2078271CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2078271Normal-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.s2078271DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2078271000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2078271SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2078271SCL-000002 { 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="s2078271Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=62-5-6"><span class="s2078271SENU">62-5-6</span></a><span xml:space="preserve" class="s2078271SENU">. </span><span class="s2078271CL">Exemption of political subdivisions from security provisions.</span></p><p dir="ltr" class="s2078271Normal-000000"><span xml:space="preserve" class="s2078271DefaultParagraphFont">This state or any municipality or other political subdivision of the state need not furnish any insurance or security as provided by §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=62-5-1"><span class="s2078271DefaultParagraphFont">62-5-1</span></a><span xml:space="preserve" class="s2078271DefaultParagraphFont"> to </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=62-5-5"><span class="s2078271DefaultParagraphFont">62-5-5</span></a><span xml:space="preserve" class="s2078271DefaultParagraphFont">, inclusive, or §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=62-5-10"><span class="s2078271DefaultParagraphFont">62-5-10</span></a><span xml:space="preserve" class="s2078271DefaultParagraphFont"> to </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=62-5-12"><span class="s2078271DefaultParagraphFont">62-5-12</span></a><span class="s2078271DefaultParagraphFont">, inclusive, but may do so if it desires.</span></p><p dir="ltr" class="s2078271Normal"><span xml:space="preserve" class="s2078271000001"> </span></p><p dir="ltr" class="s2078271Normal"><span class="s2078271SCL">Source:</span><span xml:space="preserve" class="s2078271SCL-000002"> SL 1923, ch 311; SDC 1939, § 64.0106 (5); SL 1989, ch 453, § 8.</span></p></div></body></html><br /><hr><br /><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 62-5 - INSURANCE AND SECURITY FOR PAYMENTS </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2078272Normal { 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.s2078272SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2078272CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2078272Normal-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.s2078272DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2078272000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2078272SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2078272SCL-000002 { 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="s2078272Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=62-5-7"><span class="s2078272SENU">62-5-7</span></a><span xml:space="preserve" class="s2078272SENU">. </span><span class="s2078272CL">Failure to secure payment as election not to operate under title.</span></p><p dir="ltr" class="s2078272Normal-000000"><span xml:space="preserve" class="s2078272DefaultParagraphFont">Any employer other than the state, a municipality, or other political subdivision of this state, who has failed to comply with the provisions of §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=62-5-1"><span class="s2078272DefaultParagraphFont">62-5-1</span></a><span xml:space="preserve" class="s2078272DefaultParagraphFont"> to </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=62-5-5"><span class="s2078272DefaultParagraphFont">62-5-5</span></a><span class="s2078272DefaultParagraphFont">, inclusive, shall be deemed to have elected not to operate under the provisions of this title.</span></p><p dir="ltr" class="s2078272Normal"><span xml:space="preserve" class="s2078272000001"> </span></p><p dir="ltr" class="s2078272Normal"><span class="s2078272SCL">Source:</span><span xml:space="preserve" class="s2078272SCL-000002"> SDC 1939, § 64.0106.</span></p></div></body></html><br /><hr><br /><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 62-5 - INSURANCE AND SECURITY FOR PAYMENTS </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2078273Normal { 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.s2078273SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2078273CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2078273Normal-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.s2078273DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2078273000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2078273SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2078273SCL-000002 { 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="s2078273Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=62-5-8"><span class="s2078273SENU">62-5-8</span></a><span xml:space="preserve" class="s2078273SENU">. </span><span class="s2078273CL">Commission for placing insurance limited.</span></p><p dir="ltr" class="s2078273Normal-000000"><span class="s2078273DefaultParagraphFont">No insurer of any obligation under this title may by himself, herself, or through another, either directly or indirectly, charge, accept, or pay as a commission or compensation for placing or renewing any insurance under this title more than fifteen percent of the premium charged.</span></p><p dir="ltr" class="s2078273Normal"><span xml:space="preserve" class="s2078273000001"> </span></p><p dir="ltr" class="s2078273Normal"><span class="s2078273SCL">Source:</span><span xml:space="preserve" class="s2078273SCL-000002"> SL 1917, ch 376, § 51; RC 1919, § 9487; SDC 1939, § 64.0305; SL 2008, ch 278, § 37.</span></p></div></body></html><br /><hr><br /><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 62-5 - INSURANCE AND SECURITY FOR PAYMENTS </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2078274Normal { 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.s2078274SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2078274CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2078274Normal-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.s2078274DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2078274000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2078274SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2078274SCL-000002 { 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="s2078274Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=62-5-9"><span class="s2078274SENU">62-5-9</span></a><span xml:space="preserve" class="s2078274SENU">. </span><span class="s2078274CL">Issuance of policy to employer--Certification to department.</span></p><p dir="ltr" class="s2078274Normal-000000"><span class="s2078274DefaultParagraphFont">If any insurance company operating under this chapter issues a policy of workers' compensation insurance to any employer, the company writing the insurance shall file a certificate thereof with the department.</span></p><p dir="ltr" class="s2078274Normal"><span xml:space="preserve" class="s2078274000001"> </span></p><p dir="ltr" class="s2078274Normal"><span class="s2078274SCL">Source:</span><span xml:space="preserve" class="s2078274SCL-000002"> SDC 1939, § 64.0506; SL 2008, ch 278, § 38.</span></p></div></body></html><br /><hr><br /><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 62-5 - INSURANCE AND SECURITY FOR PAYMENTS </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2078275Normal { text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2078275SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2078275CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2078275CL-000000 { font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2078275Normal-000001 { text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2078275DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2078275DefaultParagraphFont-000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2078275Normal-000003 { margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } p.s2078275Normal-000004 { text-indent: 0.25in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2078275000005 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2078275SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2078275SCL-000006 { 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="s2078275Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=62-5-10"><span class="s2078275SENU">62-5-10</span></a><span xml:space="preserve" class="s2078275SENU">. </span><span class="s2078275CL">Surety for performance required for self</span><span class="s2078275CL-000000">-</span><span class="s2078275CL">insurers--Irrevocable trust.</span></p><p dir="ltr" class="s2078275Normal-000001"><span class="s2078275DefaultParagraphFont">An employer seeking permission to be a self</span><span class="s2078275DefaultParagraphFont-000002">-</span><span class="s2078275DefaultParagraphFont">insurer, or seeking renewal of its permission to be a self</span><span class="s2078275DefaultParagraphFont-000002">-</span><span class="s2078275DefaultParagraphFont">insurer, shall furnish to the department, on a form required by the department, a bond, written by a surety company authorized by the division of insurance to write surety bonds, or cash, or a certificate of deposit, or approved government securities, or an irrevocable letter of credit, or an irrevocable trust, alone or in any combination, in a total amount equal to the greater of:</span></p><p dir="ltr" class="s2078275Normal-000003"><span class="s2078275DefaultParagraphFont">(1)    Two hundred fifty thousand dollars; or</span></p><p dir="ltr" class="s2078275Normal-000003"><span class="s2078275DefaultParagraphFont">(2)    Twice the amount of compensation and medical claims paid by the employer during the preceding calendar year; or</span></p><p dir="ltr" class="s2078275Normal-000003"><span class="s2078275DefaultParagraphFont">(3)    The amount designated by the employer as a reserve for workers' compensation and medical claims.</span></p><p dir="ltr" class="s2078275Normal-000004"><span class="s2078275DefaultParagraphFont">The irrevocable trust as used in this section must be with a bank or trust company authorized to exercise trust powers under the laws of this state or the United States. The trust shall authorize distribution solely to the department if the employer defaults on its obligations under Title 62, or to the employer if the employer is no longer self</span><span class="s2078275DefaultParagraphFont-000002">-</span><span class="s2078275DefaultParagraphFont">insured under the provisions of Title 62 to the extent the department determines that the security is not necessary, or to the employer if the employer complies with another method authorized by this section.</span></p><p dir="ltr" class="s2078275Normal"><span xml:space="preserve" class="s2078275000005"> </span></p><p dir="ltr" class="s2078275Normal"><span class="s2078275SCL">Source:</span><span xml:space="preserve" class="s2078275SCL-000006"> SL 1989, ch 453, § 1; SL 1994, ch 400.</span></p></div></body></html><br /><hr><br /><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 62-5 - INSURANCE AND SECURITY FOR PAYMENTS </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2078276Normal { text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2078276SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2078276CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2078276Normal-000000 { text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2078276DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2078276Normal-000001 { text-indent: 0.25in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } p.s2078276Normal-000002 { margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.s2078276000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2078276SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2078276SCL-000004 { 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="s2078276Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=62-5-11"><span class="s2078276SENU">62-5-11</span></a><span xml:space="preserve" class="s2078276SENU">. </span><span class="s2078276CL">Requirements for acceptance of irrevocable letter of credit--Definitions.</span></p><p dir="ltr" class="s2078276Normal-000000"><span xml:space="preserve" class="s2078276DefaultParagraphFont">As used in §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=62-5-10"><span class="s2078276DefaultParagraphFont">62-5-10</span></a><span xml:space="preserve" class="s2078276DefaultParagraphFont"> to </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=62-5-16"><span class="s2078276DefaultParagraphFont">62-5-16</span></a><span class="s2078276DefaultParagraphFont">, inclusive, an irrevocable letter of credit shall be accepted only if it is clean, irrevocable, and contains an evergreen clause.</span></p><p dir="ltr" class="s2078276Normal-000001"><span xml:space="preserve" class="s2078276DefaultParagraphFont">Terms used in §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=62-5-10"><span class="s2078276DefaultParagraphFont">62-5-10</span></a><span xml:space="preserve" class="s2078276DefaultParagraphFont"> to </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=62-5-16"><span class="s2078276DefaultParagraphFont">62-5-16</span></a><span class="s2078276DefaultParagraphFont">, inclusive, mean:</span></p><p dir="ltr" class="s2078276Normal-000002"><span class="s2078276DefaultParagraphFont">(1)    "Clean," a letter of credit that is not conditioned on the delivery of any other documents or materials;</span></p><p dir="ltr" class="s2078276Normal-000002"><span class="s2078276DefaultParagraphFont">(2)    "Irrevocable," a letter of credit that cannot be modified or revoked without the consent of the beneficiary, once the beneficiary is established;</span></p><p dir="ltr" class="s2078276Normal-000002"><span class="s2078276DefaultParagraphFont">(3)    "Evergreen clause," a clause specifically stating that the expiration of a letter of credit will not take place without a sixty-day notice by the issuer. If prior notice of expiration is not given by the issuer, the letter of credit is automatically extended for one year.</span></p><p dir="ltr" class="s2078276Normal-000001"><span xml:space="preserve" class="s2078276DefaultParagraphFont">A clean irrevocable letter of credit shall be accepted only if it is in the form prescribed by §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=62-5-10"><span class="s2078276DefaultParagraphFont">62-5-10</span></a><span xml:space="preserve" class="s2078276DefaultParagraphFont"> to </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=62-5-16"><span class="s2078276DefaultParagraphFont">62-5-16</span></a><span class="s2078276DefaultParagraphFont">, inclusive, and is issued by a financial institution that is authorized to engage in banking in any of the fifty states or under the laws of the United States and whose business is substantially confined to banking, and that has a long-term debt rating by a recognized national rating agency of investment grade or better. If no long-term debt rating is available, the financial institution shall have the equivalent investment grade financial characteristics.</span></p><p dir="ltr" class="s2078276Normal"><span xml:space="preserve" class="s2078276000003"> </span></p><p dir="ltr" class="s2078276Normal"><span class="s2078276SCL">Source:</span><span xml:space="preserve" class="s2078276SCL-000004"> SL 1989, ch 453, § 3; SL 2017, ch 219, § 1.</span></p></div></body></html><br /><hr><br /><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 62-5 - INSURANCE AND SECURITY FOR PAYMENTS </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2078277Normal { 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.s2078277SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2078277CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2078277Normal-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.s2078277DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2078277000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2078277SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2078277SCL-000002 { 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="s2078277Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=62-5-12"><span class="s2078277SENU">62-5-12</span></a><span xml:space="preserve" class="s2078277SENU">. </span><span class="s2078277CL">Deposit of surety bonds, letters of credit, etc..</span></p><p dir="ltr" class="s2078277Normal-000000"><span class="s2078277DefaultParagraphFont">Surety bonds, irrevocable letters of credit, and documents showing issuance of any irrevocable letter of credit shall be deposited with, and, unless specified by statute, in a form approved by the department.</span></p><p dir="ltr" class="s2078277Normal"><span xml:space="preserve" class="s2078277000001"> </span></p><p dir="ltr" class="s2078277Normal"><span class="s2078277SCL">Source:</span><span xml:space="preserve" class="s2078277SCL-000002"> SL 1989, ch 453, § 4.</span></p></div></body></html><br /><hr><br /><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 62-5 - INSURANCE AND SECURITY FOR PAYMENTS </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2078278Normal { 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.s2078278SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2078278CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2078278Normal-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.s2078278DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2078278000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2078278SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2078278SCL-000002 { 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="s2078278Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=62-5-13"><span class="s2078278SENU">62-5-13</span></a><span xml:space="preserve" class="s2078278SENU">. </span><span class="s2078278CL">Deposit of certificate of deposit or government securities.</span></p><p dir="ltr" class="s2078278Normal-000000"><span class="s2078278DefaultParagraphFont">Certificates of deposit or approved government securities shall be deposited on behalf of the department by the self-insured employer with the state treasurer or a financial institution approved by the department. Certificates of deposit or approved government securities shall be accepted by the state treasurer for deposit and shall be withdrawn only upon written order of the secretary of the Department of Labor and Regulation. Interest or gains earned on any certificate security, or deposit shall be paid to the self-insurer at least annually.</span></p><p dir="ltr" class="s2078278Normal"><span xml:space="preserve" class="s2078278000001"> </span></p><p dir="ltr" class="s2078278Normal"><span class="s2078278SCL">Source:</span><span xml:space="preserve" class="s2078278SCL-000002"> SL 1989, ch 453, § 5; SL 2011, ch 1 (Ex. Ord. </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=11-1"><span class="s2078278SCL-000002">11-1</span></a><span class="s2078278SCL-000002">), § 33, eff. Apr. 12, 2011.</span></p></div></body></html><br /><hr><br /><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 62-5 - INSURANCE AND SECURITY FOR PAYMENTS </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2078279Normal { 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.s2078279SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2078279CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2078279Normal-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.s2078279DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2078279000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2078279SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2078279SCL-000002 { 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="s2078279Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=62-5-14"><span class="s2078279SENU">62-5-14</span></a><span xml:space="preserve" class="s2078279SENU">. </span><span class="s2078279CL">Deposit and withdrawal of cash.</span></p><p dir="ltr" class="s2078279Normal-000000"><span class="s2078279DefaultParagraphFont">Cash shall be deposited in a financial institution approved by the department, and in the account assigned to the state treasurer. Cash shall be withdrawn only upon written order of the secretary of the Department of Labor and Regulation.</span></p><p dir="ltr" class="s2078279Normal"><span xml:space="preserve" class="s2078279000001"> </span></p><p dir="ltr" class="s2078279Normal"><span class="s2078279SCL">Source:</span><span xml:space="preserve" class="s2078279SCL-000002"> SL 1989, ch 453, § 6; SL 2011, ch 1 (Ex. Ord. </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=11-1"><span class="s2078279SCL-000002">11-1</span></a><span class="s2078279SCL-000002">), § 33, eff. Apr. 12, 2011.</span></p></div></body></html><br /><hr><br /><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 62-5 - INSURANCE AND SECURITY FOR PAYMENTS </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2078280Normal { text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2078280SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2078280CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2078280Normal-000000 { text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2078280DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2078280Normal-000001 { margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } p.s2078280Normal-000002 { text-indent: 0.25in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2078280000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2078280SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2078280SCL-000004 { 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="s2078280Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=62-5-15"><span class="s2078280SENU">62-5-15</span></a><span xml:space="preserve" class="s2078280SENU">. </span><span class="s2078280CL">Perfected security interest in deposit--Release of security interest.</span></p><p dir="ltr" class="s2078280Normal-000000"><span xml:space="preserve" class="s2078280DefaultParagraphFont">Upon the secretary sending a request to renew, request to post, or request to increase a security deposit to the maximum amount permitted by §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=62-5-10"><span class="s2078280DefaultParagraphFont">62-5-10</span></a><span xml:space="preserve" class="s2078280DefaultParagraphFont"> to </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=62-5-16"><span class="s2078280DefaultParagraphFont">62-5-16</span></a><span class="s2078280DefaultParagraphFont">, inclusive, a perfected security interest is created in the private self-insured's assets in favor of the secretary to the extent of any then unsecured portion of the self-insured's incurred liabilities for workers' compensation claims. That perfected security interest is transferred to any cash or securities thereafter posted by the private self-insured with the state treasurer or other financial institution and is released only upon:</span></p><p dir="ltr" class="s2078280Normal-000001"><span class="s2078280DefaultParagraphFont">(1)    The acceptance by the secretary of a surety bond, certificate of deposit, or irrevocable letter of credit for the full amount of the incurred liabilities for the payment of compensation; or</span></p><p dir="ltr" class="s2078280Normal-000001"><span class="s2078280DefaultParagraphFont">(2)    The return of cash or securities by the secretary.</span></p><p dir="ltr" class="s2078280Normal-000002"><span class="s2078280DefaultParagraphFont">The private self-insured employer loses all right and title in and any right to control all assets or obligations posted or placed on deposit as security. In the event of a declaration of bankruptcy or insolvency by a court of competent jurisdiction the secretary may liquidate the deposit for application to the self-insured employer's incurred liability.</span></p><p dir="ltr" class="s2078280Normal"><span xml:space="preserve" class="s2078280000003"> </span></p><p dir="ltr" class="s2078280Normal"><span class="s2078280SCL">Source:</span><span xml:space="preserve" class="s2078280SCL-000004"> SL 1989, ch 453, § 7; SL 2017, ch 219, § 2.</span></p></div></body></html><br /><hr><br /><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 62-5 - INSURANCE AND SECURITY FOR PAYMENTS </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2078281Normal { 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.s2078281SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2078281CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2078281Normal-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.s2078281DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2078281000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2078281SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2078281SCL-000002 { 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="s2078281Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=62-5-16"><span class="s2078281SENU">62-5-16</span></a><span xml:space="preserve" class="s2078281SENU">. </span><span class="s2078281CL">Claims administration contracts.</span></p><p dir="ltr" class="s2078281Normal-000000"><span class="s2078281DefaultParagraphFont">The secretary of the Department of Labor and Regulation may contract with any person, firm, or corporation qualified to administer claims of self-insured employers with respect to adjustment, administration, and management of workers' compensation claims for any self-insured employer. Costs of such claims administration shall be paid from the security deposit.</span></p><p dir="ltr" class="s2078281Normal"><span xml:space="preserve" class="s2078281000001"> </span></p><p dir="ltr" class="s2078281Normal"><span class="s2078281SCL">Source:</span><span xml:space="preserve" class="s2078281SCL-000002"> SL 1989, ch 453, § 9; SL 2011, ch 1 (Ex. Ord. </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=11-1"><span class="s2078281SCL-000002">11-1</span></a><span class="s2078281SCL-000002">), § 33, eff. Apr. 12, 2011.</span></p></div></body></html><br /><hr><br /> <HTML> <HEAD> <HTML> <HEAD> <meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 62-5 - INSURANCE AND SECURITY FOR PAYMENTS 62-5-17 </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 62-5-17 "> <META NAME="Description" Content="South Dakota Codified Laws 62-5-17"> </HEAD> <BODY> <!-- File converted by Wp2Html Version 4.0 --> <!-- Email Andrew@brackenbeds.co.uk for more details --> <!-- WP Style Open: System_34 --><!-- WP Style End: System_34 --> <Div align="full"> <!-- WP Paired Style On: SENU -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: SENU --> 62-5-17. <!-- WP Paired Style Off: SENU -->&nbsp;<!-- WP Style End: SENU --> Repealed by SL 2017, ch 219, &#167;&nbsp;3.<p> </BODY> </HTML> <br /><hr><br /><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 62-5 - INSURANCE AND SECURITY FOR PAYMENTS </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2078283Normal { 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.s2078283SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2078283CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2078283Normal-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.s2078283DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2078283000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2078283SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2078283SCL-000002 { 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="s2078283Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=62-5-18"><span class="s2078283SENU">62-5-18</span></a><span xml:space="preserve" class="s2078283SENU">. </span><span class="s2078283CL">Reduction of premium where employer selects a policy with a deductible.</span></p><p dir="ltr" class="s2078283Normal-000000"><span class="s2078283DefaultParagraphFont">Any employer may agree, as a condition of the employer's contract for the insurance of compensation and benefits as provided in Title 62, to pay an amount specified in the contract per claim toward the total amount of any claim payable under workers' compensation. The amount of premium to be paid by an employer who selects a policy with a deductible shall be reduced based upon a rating schedule or rating plan filed with and approved by the director of insurance. Administration of claims shall remain with the insurer as provided in the terms and conditions of its policy.</span></p><p dir="ltr" class="s2078283Normal"><span xml:space="preserve" class="s2078283000001"> </span></p><p dir="ltr" class="s2078283Normal"><span class="s2078283SCL">Source:</span><span xml:space="preserve" class="s2078283SCL-000002"> SL 1990, ch 418, § 1; SL 1991, ch 421, § 1; SL 2008, ch 278, § 39.</span></p></div></body></html><br /><hr><br /><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 62-5 - INSURANCE AND SECURITY FOR PAYMENTS </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2078284Normal { 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.s2078284SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2078284CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2078284Normal-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.s2078284DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2078284000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2078284SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2078284SCL-000002 { 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="s2078284Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=62-5-19"><span class="s2078284SENU">62-5-19</span></a><span xml:space="preserve" class="s2078284SENU">. </span><span class="s2078284CL">Deductible does not affect reporting requirements.</span></p><p dir="ltr" class="s2078284Normal-000000"><span xml:space="preserve" class="s2078284DefaultParagraphFont">The existence of an insurance contract with a deductible or the fact of payment as a result of a deductible does not affect the requirement of an employer to report an injury or death as required in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=62-6-2"><span class="s2078284DefaultParagraphFont">62-6-2</span></a><span class="s2078284DefaultParagraphFont">.</span></p><p dir="ltr" class="s2078284Normal"><span xml:space="preserve" class="s2078284000001"> </span></p><p dir="ltr" class="s2078284Normal"><span class="s2078284SCL">Source:</span><span xml:space="preserve" class="s2078284SCL-000002"> SL 1990, ch 418, § 2.</span></p></div></body></html><br /><hr><br /><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 62-5 - INSURANCE AND SECURITY FOR PAYMENTS </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2078285Normal { 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.s2078285SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2078285CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2078285Normal-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.s2078285DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2078285000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2078285SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2078285SCL-000002 { 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="s2078285Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=62-5-20"><span class="s2078285SENU">62-5-20</span></a><span xml:space="preserve" class="s2078285SENU">. </span><span class="s2078285CL">Insurer to pay entire loss--Employer to reimburse deductible amount.</span></p><p dir="ltr" class="s2078285Normal-000000"><span class="s2078285DefaultParagraphFont">If an insured employer chooses a deductible, the insured employer is liable for the amount of the deductible paid for each claim of injury suffered by an employee. The insurer shall pay the entire cost of the employee's loss and then seek reimbursement from the insured employer for the amount of the deductible.</span></p><p dir="ltr" class="s2078285Normal"><span xml:space="preserve" class="s2078285000001"> </span></p><p dir="ltr" class="s2078285Normal"><span class="s2078285SCL">Source:</span><span xml:space="preserve" class="s2078285SCL-000002"> SL 1990, ch 418, § 3; SL 1991, ch 421, § 2.</span></p></div></body></html><br /><hr><br /><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 62-5 - INSURANCE AND SECURITY FOR PAYMENTS </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2078286Normal { 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.s2078286SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2078286CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2078286Normal-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.s2078286DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2078286000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2078286SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2078286SCL-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="s2078286Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=62-5-21"><span class="s2078286SENU">62-5-21</span></a><span xml:space="preserve" class="s2078286SENU">. </span><span class="s2078286CL">Provision of medical services and health care.</span></p><p dir="ltr" class="s2078286Normal-000000"><span xml:space="preserve" class="s2078286DefaultParagraphFont">Any self-insured employer shall provide medical services and health care to injured workers for compensable injuries and diseases under a case management plan that meets the requirements established by rules promulgated by the Department of Labor and Regulation pursuant to chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=1-26"><span class="s2078286DefaultParagraphFont">1-26</span></a><span class="s2078286DefaultParagraphFont">.</span></p><p dir="ltr" class="s2078286Normal"><span xml:space="preserve" class="s2078286000001"> </span></p><p dir="ltr" class="s2078286Normal"><span class="s2078286SCL">Source:</span><span xml:space="preserve" class="s2078286SCL-000002"> SL 1993, ch 381, § 6; SL 1995, ch 298; SL 2000, ch 254, § 1; SL 2011, ch 1 (Ex. Ord. </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=11-1"><span class="s2078286SCL-000002">11-1</span></a><span class="s2078286SCL-000002">), § 33, eff. Apr. 12, 2011.</span></p></div></body></html>