South Dakota § 58-5-151 - Reporting material nonrenewal, cancellation or revision.
Full text of South Dakota South Dakota Codified Laws § 58-5-151 — Reporting material nonrenewal, cancellation or revision., with citation guidance and answers to common questions.
§ 58-5-151. Reporting material nonrenewal, cancellation or revision.
Subject to the criteria provided in § 58-5-150, a report shall be filed without regard to which party has initiated the nonrenewal, cancellation or revision of ceded reinsurance whenever one or more of the following conditions exist:
(1) The entire cession has been cancelled, nonrenewed, or revised and ceded indemnity and loss adjustment expense reserves after any nonrenewal, cancellation, or revision represent less than fifty percent of the comparable reserves that would have been ceded had the nonrenewal, cancellation, or revision not occurred;
(2) An authorized or accredited reinsurer has been replaced on an existing cession by an unauthorized reinsurer; or
(3) Collateral requirements previously established for unauthorized reinsurers have been reduced.
Subject to the materiality criteria, for purposes of subdivisions (2) and (3), a report shall be filed if the result of the revision affects more than ten percent of the cession.
Source: SL 1995, ch 275, § 8.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 58-5-151
What does South Dakota Codified Laws § 58-5-151 cover?
Section 58-5-151 ("Reporting material nonrenewal, cancellation or revision.") 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 § 58-5-151?
A common citation format is "South Dakota Codified Laws § 58-5-151" (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 § 58-5-151 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.