South Dakota § 58-43-16.2 - Responsibilities of audit committee.
Full text of South Dakota South Dakota Codified Laws § 58-43-16.2 — Responsibilities of audit committee., with citation guidance and answers to common questions.
§ 58-43-16.2. Responsibilities of audit committee.
The audit committee shall be directly responsible for the appointment, compensation, and oversight of the work of any accountant, including resolution of disagreements between management and the accountant regarding financial reporting, for the purpose of preparing or issuing the audited financial report or related work pursuant to this chapter. Each accountant shall report directly to the audit committee.
The audit committee of an insurer or a group of insurers shall be responsible for overseeing the insurer's internal audit function and granting each person performing the function suitable authority and resources to complete the audit committee's responsibilities required by §§ 58-43-16.25 to 58-43-16.28, inclusive.
Source: SL 2009, ch 271, § 17, eff. Jan. 1, 2010; SL 2018, ch 283, § 2.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 58-43-16.2
What does South Dakota Codified Laws § 58-43-16.2 cover?
Section 58-43-16.2 ("Responsibilities of audit committee.") 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 § 58-43-16.2?
A common citation format is "South Dakota Codified Laws § 58-43-16.2" (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 § 58-43-16.2 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.