South Dakota § 58-26-99 - Procedures, controls and report regarding principle-based valuation.
Full text of South Dakota South Dakota Codified Laws § 58-26-99 — Procedures, controls and report regarding principle-based valuation., with citation guidance and answers to common questions.
§ 58-26-99. Procedures, controls and report regarding principle-based valuation.
A company using a principle-based valuation for one or more policies or contracts subject to §§ 58-26-98 to 58-26-100, inclusive, as specified in the valuation manual shall:
(1) Establish procedures for corporate governance and oversight of the actuarial valuation function consistent with those described in the valuation manual;
(2) Provide to the director and the board of directors an annual certification of the effectiveness of the internal controls with respect to the principle-based valuation. The controls shall be designed to assure that all material risks inherent in the liabilities and associated assets subject to such valuation are included in the valuation, and that valuations are made in accordance with the valuation manual. The certification shall be based on the controls in place as of the end of the preceding calendar year;
(3) Develop, and file with the director upon request, a principle-based valuation report that complies with standards prescribed in the valuation manual.
Source: SL 2015, ch 254, § 33.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 58-26-99
What does South Dakota Codified Laws § 58-26-99 cover?
Section 58-26-99 ("Procedures, controls and report regarding principle-based valuation.") 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 § 58-26-99?
A common citation format is "South Dakota Codified Laws § 58-26-99" (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 § 58-26-99 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.