South Dakota § 58-43-16 - Written communication as to unremediated material weaknesses in internal controls over financial reporting.
Full text of South Dakota South Dakota Codified Laws § 58-43-16 — Written communication as to unremediated material weaknesses in internal controls over financial reporting., with citation guidance and answers to common questions.
§ 58-43-16. Written communication as to unremediated material weaknesses in internal controls over financial reporting.
In addition to the annual audited financial report, each insurer shall furnish the director with a written communication as to any unremediated material weaknesses in the insurer's internal controls over financial reporting noted during the audit. The communication shall be prepared by the accountant within sixty days after the filing of the annual audited financial report. The communication shall contain a description of any unremediated material weakness as of December thirty-first for the immediately preceding year in the insurer's internal control over financial reporting noted by the accountant during the course of the accountant's audit of the financial statements. If no unremediated material weaknesses were noted, the communication shall so state.
The insurer shall provide a description of remedial actions taken or proposed to correct unremediated material weaknesses, if the actions are not described in the accountant's communication.
The insurer shall maintain information about significant deficiencies communicated by the independent certified public accountant. The information shall be made available to the examiner conducting a financial condition examination for review and kept confidential pursuant to § 58-3-22.
Source: SL 1992, ch 357, § 16; SL 2009, ch 271, § 15.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 58-43-16
What does South Dakota Codified Laws § 58-43-16 cover?
Section 58-43-16 ("Written communication as to unremediated material weaknesses in internal controls over financial reporting.") 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 § 58-43-16?
A common citation format is "South Dakota Codified Laws § 58-43-16" (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 § 58-43-16 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.