S.D. Admin. R. 20:06:09:32

Current through Register Vol. 51, page 57, November 12, 2024

Section 20:06:09:32 - Form B filing

A Form B must be certified. Information which is not material for purposes of SDCL 58-5A-21 need not be disclosed. The information required for a Form B filing includes the following:

(1) That set forth in SDCL 58-5A-21;

(2) That set forth in § 20:06:09:29(3);

(3) That set forth in § 20:06:09:29(4);

(4) The name of each insurer registering or being registered and the home office address and principal executive offices of each, the date on which each insurer became part of the holding company system, and the method by which control of each insurer was acquired and is maintained;

(5) Description of reinsurance agreements;

(6) A brief description of the following types of proceedings to which the ultimate controlling person or any of its directors or executive officers was a party or of which the property of any of those persons is or was the subject:

(a) Criminal prosecutions or administrative proceedings by any government agency or authority which may be relevant to the trustworthiness of any party to the prosecutions or proceedings; and

(b) Proceedings which may have a material effect on the solvency or capital structure of the ultimate holding company, including bankruptcy, receivership, or other corporate reorganizations.

The insurer shall report those actions pending or concluded within the preceding fiscal year. For each action the names of the parties and the name of the court or agency must be given; and

(7) A statement that transactions entered into since the filing of the prior year's annual registration statement are not part of a plan or series of like transactions, the purpose of which is to avoid statutory threshold amounts and the review that might otherwise occur; and

(8) A Form C filing when summarizing changes to a previous year's registration statement or a statement setting forth changes to a current year's registration statement.

S.D. Admin. R. 20:06:09:32

20 SDR 36, effective 9/19/1993.

42 SDR 83, effective 12/3/2015

General Authority: SDCL 58-5A-70.

Law Implemented: SDCL 58-5A-20, 58-5A-21, 58-5A-23, 58-5A-24, 58-5A-70.

Note: A copy of Form B, C, or E may be obtained from the Division of Insurance, 118 West Capitol Avenue, Pierre, South Dakota 57501-2000. (605) 773-3563, free of charge.