This bill creates new rules allowing South Dakota insurance companies to get financial credit when they buy reinsurance (insurance that protects insurers) from companies in certain approved foreign countries and U.S. states. An insurer can claim this credit if the reinsurer is based in a country with a trade agreement with the U.S., a U.S. state meeting certain financial standards, or another jurisdiction approved by the state insurance director.
This bill does not directly amend codified state law.
Signed by the Governor H.J. 293
Delivered to the Governor H.J. 270
Signed by the President S.J. 229
Signed by the Speaker H.J. 247
Senate Do Pass Passed, YEAS 31, NAYS 0. S.J. 201
Commerce and Energy Certified uncontested, placed on consent
Commerce and Energy Do Pass Passed, YEAS 6, NAYS 0.
Commerce and Energy Scheduled for hearing
First read in Senate and referred to Senate Commerce and Energy S.J. 124
House of Representatives Do Pass Passed, YEAS 70, NAYS 0. H.J. 130
Commerce and Energy Certified uncontested, placed on consent
Commerce and Energy Do Pass Passed, YEAS 13, NAYS 0.
Commerce and Energy Scheduled for hearing
First read in House and referred to House Commerce and Energy H.J. 11
Commerce and Energy — Do Pass
Commerce and Energy — Do Pass