{"data":{"id":"us-sd/sdcl-58-1-2","jurisdiction":"us-sd","citation":"SDCL § 58-1-2","heading":"Definition of terms.","body":"Terms used in this title mean:\n(1) \"Alien insurer,\" one formed under the laws of any country or jurisdiction other than the United States of America, its states, districts, territories, and commonwealths;\n(2) \"Authorized insurer,\" one authorized, by a subsisting certificate of authority issued by the director, to engage in the insurance business in this state;\n(3) \"Certificate of authority,\" permission granted to an insurer to issue policies or make contracts of insurance in this state;\n(4) \"Director,\" the director of the Division of Insurance;\n(5) \"Division,\" the Division of Insurance of the Department of Labor and Regulation;\n(6) \"Domestic insurer,\" one formed under the laws of this state;\n(7) \"Foreign insurer,\" one formed under the laws of any jurisdiction other than this state; except where distinguished by context, foreign insurer includes an alien insurer;\n(8) \"Insurance,\" a contract whereby one undertakes to indemnify another or to pay or provide a specified or determinable amount or benefit upon determinable contingencies;\n(9) \"Insurance business,\" includes the transaction of all matters pertaining to a contract of insurance, both before and after the effectuation of that contract, and all matters arising out of that contract or any claim thereunder;\n(10) \"Insurer,\" every person engaged as indemnitor, surety, or contractor in the business of entering into contracts of insurance;\n(11) \"License,\" permission granted to an agent or broker to engage in those activities permitted by such persons under this title;\n(12) Repealed by SL 2001, ch 263, § 1.\n(13) \"Mechanical breakdown insurance,\" any contract or agreement, issued by an authorized insurer, to perform or indemnify for a specific duration the repair, replacement, or maintenance of property for operational or structural failure due to a defect in materials, workmanship, or normal wear and tear;\n(14) \"Person,\" an individual, insurer, company, association, organization, Lloyds, society, reciprocal or inter-insurance exchange, partnership, syndicate, business trust, corporation, and any other legal entity;\n(15) \"Principal office\" or \"principal place of business,\" the office or regional home office from which the business affairs of the insurer are directed and managed;\n(16) \"Producer,\" any person required to be licensed under the laws of this state to sell, solicit, or negotiate insurance. The terms also means an insurance agent;\n(17) \"State,\" when used in context signifying a jurisdiction other than the State of South Dakota, a state, the District of Columbia, a territory, commonwealth, or possession of the United States of America, or a province of the Dominion of Canada; and\n(18) \"Unauthorized insurer,\" one which does not hold a subsisting certificate of authority issued by the director to engage in the insurance business in this state.\n(19) \"Vehicle theft protection product,\" a device or system installed on or applied to a motor vehicle that is designed to prevent loss or damage to a motor vehicle from theft.","path":["TITLE 58. INSURANCE","CHAPTER 58-1. DEFINITIONS AND GENERAL PROVISIONS"],"source_url":"https://sdlegislature.gov/Statutes/58-1-2","current_through":"2026-08-31","vintage":"","retrieved_at":"2026-09-03T15:18:57Z","sha256":"5644ace76deef082cd5121e934bd849bbe7c7841a656aec0d0b4eba5b39f69f0","source_id":"us-sd","stale":true,"prev":"us-sd/sdcl-58-1-1","next":"us-sd/sdcl-58-1-3"},"notice":"GroundRules: Original legal text. Not legal advice."}