S.D. Admin. R. 20:06:36:27
If a company action level event, regulatory action level event, or authorized control level event occurs for any foreign insurer or foreign health organization as determined under the RBC statute applicable in the state of domicile of the insurer or health organization or, if no RBC statute is in force in that state, under the provisions of this chapter and the insurance director of the state of domicile of the foreign insurer or foreign health organization fails to require the foreign insurer or foreign health organization to file an RBC plan in the manner specified under that state's RBC statute or, if no RBC statute is in force in that state, under §§ 20:06:36:07 to 20:06:36:12, inclusive, of this chapter, the foreign insurer or foreign health organization shall file an RBC plan with the director. The failure of the foreign insurer or foreign health organization to file an RBC plan with the director is grounds to order the insurer or health organization to cease and desist from writing new insurance business in this state.
S.D. Admin. R. 20:06:36:27
General Authority: SDCL 58-4-48.
Law Implemented: SDCL 58-4-48.