20:06:19:08Administration
Section · Administrative Rules of South Dakota · View on sdlegislature.gov ↗
Rulemaking activity
- 20:06:12, 20:06:13, 20:06:19, 20:06:25, 20:06:26, 20:06:36, 20:06:59, and 20:06:60Effective
- Updates to the Division of Insurance's administrative rules in chapters 20:06:07, 20:06:12, 20:06:19, 20:06:22, 20:06:25, 20:06:26, 20:06:36, and 20:06:59.Effective
- Updates to the Division of Insurance administrative rules.Effective
- Updates to Division of Insurance administrative rules.Effective
- Division of Insurance Administrative RulesEffective
- Changes and updates to Insurance Administrative RulesEffective
and record keeping. An insurance company must establish policies and procedures prior to engaging in call or put option transactions. These policies must be approved by the board of directors and reviewed annually. These policies shall address but are not limited to investment strategies and objectives, record keeping, and accounting for these transactions. The record keeping and accounting systems governing the purchase and sale of options must be sufficiently detailed so that the insurance examiners and internal auditors can police the insurer's policies and procedures for these transactions. Every call or put option transaction must be authorized pursuant to SDCL 58-27-69.
Source: 13 SDR 75, effective December 21, 1986.