South Dakota § 58-43-3 - Foreign or alien insurers--Exemption.
Full text of South Dakota South Dakota Codified Laws § 58-43-3 — Foreign or alien insurers--Exemption., with citation guidance and answers to common questions.
§ 58-43-3. Foreign or alien insurers--Exemption.
Foreign or alien insurers, filing audited financial reports in another state which report has been found by the director to be substantially similar to the requirements of § 58-43-4, are exempt if:
(1) A copy of the audited financial report, communication of internal control related matters noted in an audit, and the accountant's letter of qualifications which are filed with the other state are filed with the director in accordance with the filing dates specified in §§ 58-43-2, 58-43-14, and 58-43-15. Canadian insurers may submit accountants' reports as filed with the Office of the Superintendent of Financial Institutions, Canada;
(2) A copy of any notification of adverse financial condition report filed with that other state is filed with the director within the time specified in § 58-43-14.
This section does not prohibit, preclude or in any way limit the director of insurance from ordering or conducting or performing examinations of insurers under this title.
Source: SL 1992, ch 357, § 3; SL 2009, ch 271, § 4.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 58-43-3
What does South Dakota Codified Laws § 58-43-3 cover?
Section 58-43-3 ("Foreign or alien insurers--Exemption.") 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 § 58-43-3?
A common citation format is "South Dakota Codified Laws § 58-43-3" (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 § 58-43-3 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.