# S.D. Codified Laws § 58-5A-3.1: Divestiture of controlling interest in domestic insurer--Notice to director and insurer

> South Dakota · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_SD_T58_C5A_S58-5A-3.1

## Section

- **Citation:** S.D. Codified Laws § 58-5A-3.1
- **Heading:** Divestiture of controlling interest in domestic insurer--Notice to director and insurer
- **Jurisdiction:** South Dakota
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** SD Code / Title 58 / Chapter 5A / Section 58-5A-3.1

## Text

For purposes of this chapter, any controlling person of a domestic insurer seeking to divest the controlling interest in the domestic insurer, in any manner, shall file with the director, with a copy to the insurer, confidential notice of its proposed divestiture at least thirty days prior to the cessation of control. The director shall determine any instance in which a party seeking to divest or to acquire a controlling interest in an insurer is required to file for and obtain approval of the transaction.

The information shall remain confidential until the conclusion of the transaction unless the director determines that confidential treatment interferes with enforcement of this section. If the statement referred to in § 58-5A-3 is otherwise filed, the provisions of this section do not apply.

Source: SL 2015, ch 246, § 2.

## Nearby sections

- [S.D. Codified Laws § 58-5A-1 Definitions](https://www.frixlaw.com/law-library/statutes/STATE_SD_T58_C5A_S58-5A-1.md)
- [S.D. Codified Laws § 58-5A-2 Domestic insurer defined](https://www.frixlaw.com/law-library/statutes/STATE_SD_T58_C5A_S58-5A-2.md)
- [S.D. Codified Laws § 58-5A-3 Acquisition of control of or merger with domestic insurer--Information statement required--Approval by director required--Violation as misdemeanor](https://www.frixlaw.com/law-library/statutes/STATE_SD_T58_C5A_S58-5A-3.md)
- [S.D. Codified Laws § 58-5A-3.1 Divestiture of controlling interest in domestic insurer--Notice to director and insurer](https://www.frixlaw.com/law-library/statutes/STATE_SD_T58_C5A_S58-5A-3.1.md)
- [S.D. Codified Laws § 58-5A-4 Contents of information statement--Violation as misdemeanor](https://www.frixlaw.com/law-library/statutes/STATE_SD_T58_C5A_S58-5A-4.md)
- [S.D. Codified Laws § 58-5A-5 Information statement required of partners or members of syndicate or group--Violation as misdemeanor](https://www.frixlaw.com/law-library/statutes/STATE_SD_T58_C5A_S58-5A-5.md)
- [S.D. Codified Laws § 58-5A-6 Information required of corporations, officers, directors and certain owners of voting securities--Violation as misdemeanor](https://www.frixlaw.com/law-library/statutes/STATE_SD_T58_C5A_S58-5A-6.md)
- [S.D. Codified Laws § 58-5A-7 Amendment of information statement--Violation as misdemeanor](https://www.frixlaw.com/law-library/statutes/STATE_SD_T58_C5A_S58-5A-7.md)
- [S.D. Codified Laws § 58-5A-8 Federal or state registration statements utilized in furnishing information](https://www.frixlaw.com/law-library/statutes/STATE_SD_T58_C5A_S58-5A-8.md)
- [S.D. Codified Laws § 58-5A-9 Approval by director of acquisition or merger--Grounds for disapproval](https://www.frixlaw.com/law-library/statutes/STATE_SD_T58_C5A_S58-5A-9.md)
- [S.D. Codified Laws § 58-5A-9.1 Disapproval of dividends or distributions for violation--Order of supervision](https://www.frixlaw.com/law-library/statutes/STATE_SD_T58_C5A_S58-5A-9.1.md)
- [S.D. Codified Laws § 58-5A-10 Time of hearing--Notice](https://www.frixlaw.com/law-library/statutes/STATE_SD_T58_C5A_S58-5A-10.md)
- [S.D. Codified Laws § 58-5A-10.1 Request for public hearing on consolidated basis](https://www.frixlaw.com/law-library/statutes/STATE_SD_T58_C5A_S58-5A-10.1.md)
- [S.D. Codified Laws § 58-5A-11 Procedure at hearing--Evidence admissible](https://www.frixlaw.com/law-library/statutes/STATE_SD_T58_C5A_S58-5A-11.md)

---

Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_SD_T58_C5A_S58-5A-3.1. Check the current official text before relying on it. Not legal advice.