South Dakota § 58-6A-3.5 - Written policy in plan of operation.
Full text of South Dakota South Dakota Codified Laws § 58-6A-3.5 — Written policy in plan of operation., with citation guidance and answers to common questions.
§ 58-6A-3.5. Written policy in plan of operation.
The risk retention group's board of directors shall adopt a written policy in the plan of operation as approved by the board that requires the board to:
(1) Assure that all owners and insureds of the risk retention group receive evidence of ownership interest;
(2) Develop a set of governance standards applicable to the risk retention group;
(3) Oversee the evaluation of the risk retention group's management including the performance of the managing general underwriter or any other party responsible for underwriting, determination of rates, collection of premiums, adjusting or settling a claim, or the preparation of a financial statement;
(4) Review and approve the amount to be paid for each material service provider; and
(5) Review and approve, at least annually:
(a) The risk retention group's goals and objectives relevant to the compensation of officers and service providers;
(b) The officers' and service providers' performance in light of those goals and objectives; and
(c) The continued engagement of the officers and material service providers.
Source: SL 2016, ch 232, § 7.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 58-6A-3.5
What does South Dakota Codified Laws § 58-6A-3.5 cover?
Section 58-6A-3.5 ("Written policy in plan of operation.") 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 § 58-6A-3.5?
A common citation format is "South Dakota Codified Laws § 58-6A-3.5" (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 § 58-6A-3.5 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.