SDCL § 58-5A-80.3: Internationally active insurance group--Group-wide supervisor acknowledgment.

Notwithstanding any other provision in §§ 58-5A-80.1 to 58-5A-80.9, inclusive, if another regulatory official is acting as the group-wide supervisor of an internationally active insurance group, the director shall acknowledge that regulatory official as the group-wide supervisor. The director shall make a determination or acknowledgment as to the appropriate group-wide supervisor pursuant to § 58-5A-80.2 if a material change in the internationally active insurance group results in any of the following:

(1)The internationally active insurance group's insurers domiciled in this state hold the largest share of the group's premiums, assets or liabilities; or

(2)This state becomes the place of domicile of the top-tiered insurer or insurers in the insurance holding company system of the internationally active insurance group.