S.D. Admin. R. 20:06:31:22

Current through Register Vol. 51, page 67, December 16, 2024

Section 20:06:31:22 - Interest payments and amounts drawn in excess

Nothing contained in § 20:06:31:21 shall preclude the ceding insurer and assuming insurer from providing for:

(1) An interest payment, at a rate not in excess of the prime rate of interest, on the amounts held pursuant to subdivision 20:06:31:21(2); or

(2) The return of any amounts drawn down on the letters of credit in excess of the actual amounts required that are subsequently determined not to be due.

S.D. Admin. R. 20:06:31:22

44 SDR 71, effective 10/23/2017

General Authority: SDCL 58-14-17.

Law Implemented: SDCL 58-14-16, 58-14-17.