S.D. Admin. R. 20:06:37:02
This chapter applies to all life insurance companies and fraternal benefit societies doing business in this state and to all life insurance companies and fraternal benefit societies which are authorized to reinsure life insurance, annuities, or accident and health insurance business in this state.
This chapter shall be applied in a manner that allows the appointed actuary to utilize his or her professional judgment in performing the asset analysis and developing the actuarial opinion and supporting memoranda, consistent with relevant actuarial standards of practice. However, the director has the authority to specify particular methods of actuarial analysis and actuarial assumptions if, in the director's judgment, these specifications are necessary for an acceptable opinion to be rendered relative to the adequacy of reserves and related items.
This chapter is applicable to any annual statement filed with the director. A statement of opinion on the adequacy of the reserves and related actuarial items based on an asset adequacy analysis in accordance with §§ 20:06:37:29 to 20:06:37:39, inclusive, and a memorandum in support thereof in accordance with §§ 20:06:37:40 to 20:06:37:47, inclusive, is required each year.
S.D. Admin. R. 20:06:37:02
General Authority: SDCL 58-26-46.
Law Implemented: SDCL 58-26-46.