South Dakota § 58-48-2 - Grounds for innovation waiver.
Full text of South Dakota South Dakota Codified Laws § 58-48-2 — Grounds for innovation waiver., with citation guidance and answers to common questions.
§ 58-48-2. Grounds for innovation waiver.
Subject to §§ 58-48-3 to 58-48-5, inclusive, the director may grant an insurance innovation waiver with respect to requirements imposed by any insurance law, regulation, or bulletin to enable a person to obtain limited access to the insurance market in this state to test an innovative insurance product or service without obtaining a license or other authorization that might otherwise be required or without coming into full compliance with any insurance law, regulation, or bulletin. To receive a waiver, an applicant shall demonstrate to the director's satisfaction that:
(1) The application of the law, regulation, or bulletin would inhibit the introduction of an innovative or more efficient insurance product or service that the applicant intends to test during the period for which the proposed waiver is granted;
(2) The public policy goals of the law, regulation, or bulletin will be or have been achieved by other means;
(3) The waiver will not unreasonably increase risk to consumers or create unreasonable unfair competition in the insurance market; and
(4) The waiver is in the public interest.
Source: SL 2021, ch 214, § 2.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 58-48-2
What does South Dakota Codified Laws § 58-48-2 cover?
Section 58-48-2 ("Grounds for innovation waiver.") 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 § 58-48-2?
A common citation format is "South Dakota Codified Laws § 58-48-2" (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 § 58-48-2 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.