South Dakota § 58-14-24 - Definition of terms.
Full text of South Dakota South Dakota Codified Laws § 58-14-24 — Definition of terms., with citation guidance and answers to common questions.
§ 58-14-24. Definition of terms.
Terms used in §§ 58-14-24 to 58-14-42, inclusive, mean:
(1) "Actuary," any person who is a member in good standing of the American Academy of Actuaries;
(2) "Controlling person," any person who, directly or indirectly, has the power to direct or cause to be directed the management, control, or activities of the agent or broker who sells, solicits, negotiates, or places reinsurance;
(3) "Reinsurance agent or agent," any person that has authority to bind or manage all or part of the assumed reinsurance business of a reinsurer, including the management of a separate division, department, or underwriting office, and acts as an agent for the reinsurer whether known as a manager or other similar term;
(4) "Reinsurance broker or broker," any person, other than an officer or employee of the ceding insurer, who solicits, negotiates, or places reinsurance cessions or retrocessions on behalf of a ceding insurer without the authority or power to bind reinsurance on behalf of the insurer.
Source: SL 1992, ch 345, § 1.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 58-14-24
What does South Dakota Codified Laws § 58-14-24 cover?
Section 58-14-24 ("Definition of terms.") is part of the South Dakota Codified Laws, the codified statutory law of South Dakota. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite South Dakota § 58-14-24?
A common citation format is "South Dakota Codified Laws § 58-14-24" (South Dakota). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of South Dakota law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the South Dakota official source linked on this page or consult a licensed South Dakota attorney.
How does South Dakota § 58-14-24 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in South Dakota can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in South Dakota.