SDCL § 58-14-16.14: Applicant for certification certified as reinsurer in National Association of Insurance Commissioners accredited jurisdiction.

If an applicant for certification has been certified as a reinsurer in a National Association of Insurance Commissioners accredited jurisdiction, the director has the discretion to defer to that jurisdiction's certification and has the discretion to defer to the rating assigned by that jurisdiction. Upon approval by the director, the applicant shall be considered to be a certified reinsurer in this state.