{"data":{"id":"us-sd/sdcl-58-48-1","jurisdiction":"us-sd","citation":"SDCL § 58-48-1","heading":"Definitions.","body":"Terms used in this chapter mean:\n(1) \"Applicant,\" a person applying for an insurance innovation waiver;\n(2) \"Consumer,\" a person that purchases or otherwise enters into a transaction or agreement to receive an innovative insurance product or service that is being tested by a participant;\n(3) \"Innovation,\" the use or incorporation of a new or emerging technology or a new use of existing technology, including blockchain technology, to address a problem, provide a benefit, or otherwise offer a product, service, business model, or delivery mechanism that is not known by the division to have a comparable widespread offering in the state;\n(4) \"Innovative insurance product or service,\" an insurance product or service that includes an innovation;\n(5) \"Insurance product or service,\" an insurance product or insurance service that requires state licensure, registration, or other authorization under this title, including an insurance product or insurance service that includes a business model, delivery mechanism, or element that requires a license, registration, or other authorization to do insurance business, act as an insurance producer, or otherwise requires division approval;\n(6) \"Insurance innovation waiver\" or \"waiver,\" a document issued pursuant to this chapter that allows a person to temporarily test an innovative insurance product or service on a limited basis without otherwise being licensed or authorized to act under the laws of the state or in full compliance with the provisions of this title;\n(7) \"Participant,\" an applicant whose application for a waiver is granted in accordance with this chapter; and\n(8) \"Test,\" to provide an innovative insurance product or service in accordance with a granted waiver.","path":["TITLE 58. INSURANCE","CHAPTER 58-48. INSURANCE INNOVATION WAIVERS"],"source_url":"https://sdlegislature.gov/Statutes/58-48-1","current_through":"2026-08-31","vintage":"","retrieved_at":"2026-09-03T15:18:57Z","sha256":"f2f60ce095a103642404ccf70d970550777208ed8fd38129d7ca2004412c728b","source_id":"us-sd","stale":true,"prev":"us-sd/sdcl-58-47-16","next":"us-sd/sdcl-58-48-2"},"notice":"GroundRules: Original legal text. Not legal advice."}