HB1059 restructures South Dakota's insurance holding company regulations by repealing four outdated statutory sections and revising two others to modernize oversight requirements for companies that own insurance operations. The bill eliminates redundant or superseded rules while updating the definitions and provisions governing how insurance holding companies must be regulated and report to the state. These changes streamline state insurance law without fundamentally altering the regulatory framework.
This bill does not directly amend codified state law.
Signed by the Governor H.J. 314
Delivered to the Governor H.J. 244
Signed by the President S.J. 251
Signed by the Speaker H.J. 231
Senate Do Pass Passed, YEAS 31, NAYS 0. S.J. 221
Commerce and Energy Certified uncontested, placed on consent
Commerce and Energy Do Pass Passed, YEAS 8, NAYS 0.
Commerce and Energy Scheduled for hearing S.J. 1
First read in Senate and referred to Senate Commerce and Energy S.J. 95
House of Representatives Do Pass Passed, YEAS 69, NAYS 0. H.J. 66
Commerce and Energy Do Pass Passed, YEAS 11, NAYS 1.
Commerce and Energy Scheduled for hearing
First read in House and referred to House Commerce and Energy H.J. 17
Commerce and Energy — Do Pass
Do Pass
Commerce and Energy — Do Pass