South Dakota § 58-37A-13 - Reinsurance agreement--Ceding risks.
Full text of South Dakota South Dakota Codified Laws § 58-37A-13 — Reinsurance agreement--Ceding risks., with citation guidance and answers to common questions.
§ 58-37A-13. Reinsurance agreement--Ceding risks.
A domestic society may, by a reinsurance agreement, cede any individual risk to an insurer, other than another fraternal benefit society, having the power to make such reinsurance and authorized to do business in this state, or if not authorized, one which is approved by the director, but no society may reinsure substantially all of its insurance in force without the written permission of the director. It may take credit for the reserves on the ceded risks to the extent reinsured, but no credit may be allowed as an admitted asset or as a deduction from liability, to a ceding society for reinsurance made, ceded, renewed, or otherwise becoming effective after January 1, 1991, unless the reinsurance is payable by the assuming insurer on the basis of the liability of the ceding society under the contract or contracts reinsured without diminution because of the insolvency of the ceding society.
Notwithstanding this limitation, a society may reinsure the risks of another society in a consolidation or merger approved by the director under § 58-37A-14.
Source: SL 1990, ch 410, § 13.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 58-37A-13
What does South Dakota Codified Laws § 58-37A-13 cover?
Section 58-37A-13 ("Reinsurance agreement--Ceding risks.") 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 § 58-37A-13?
A common citation format is "South Dakota Codified Laws § 58-37A-13" (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 § 58-37A-13 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.