South Dakota § 58-5-150 - Materiality of nonrenewals, cancellations or revisions.
Full text of South Dakota South Dakota Codified Laws § 58-5-150 — Materiality of nonrenewals, cancellations or revisions., with citation guidance and answers to common questions.
§ 58-5-150. Materiality of nonrenewals, cancellations or revisions.
No nonrenewals, cancellations, or revisions of ceded reinsurance programs need to be reported pursuant to § 58-5-143 if the nonrenewals, cancellations, or revisions are not material. For purposes of the chapter, a material nonrenewal, cancellation, or revision is one that affects the property and casualty business, including accident and health business, by more than fifty percent of an insurer's ceded written premium, or for life, annuity, and accident and health business, more than fifty percent of the total reserve credit taken for business ceded, on an annualized basis as indicated in the insurer's most recently filed statutory statement. However, no filing is required if the insurer's ceded written premium or the total reserve credit taken for business ceded represents, on an annualized basis, less than ten percent of direct plus assumed written premium or ten percent of the statutory reserve requirement prior to any cession, respectively.
Source: SL 1995, ch 275, § 7.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 58-5-150
What does South Dakota Codified Laws § 58-5-150 cover?
Section 58-5-150 ("Materiality of nonrenewals, cancellations or revisions.") 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 § 58-5-150?
A common citation format is "South Dakota Codified Laws § 58-5-150" (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 § 58-5-150 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.