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Bill

Bill

SB 29

amend provisions regarding the Division of Insurance and the former Division of Securities operating fund.

2025 Regular Session

SB 29 amends South Dakota's Division of Insurance and former Division of Securities operating fund provisions to modify regulatory funding and financial management structures.

Signed by the Governor on 2025-02-19 S.J. 288
#executive/judiciaryrequest #fund #insurance #publicfiscaladministration
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Bill Summary · SB 29

Legislative bill overview

SB 29 amends South Dakota's provisions governing the operating fund for the Division of Insurance and the former Division of Securities. The bill modifies how these regulatory divisions manage their financial accounts and operational funding mechanisms.

Why is this important

Insurance and securities regulation directly affects South Dakota residents' financial protections and access to financial services. Changes to how these divisions fund their operations can impact the speed and effectiveness of regulatory oversight, consumer complaint handling, and licensing processes.

Potential points of contention

  • Funding mechanism changes: Modifications to operating fund structure could shift costs between industry participants, insurers, or consumers through fees and assessments
  • Regulatory capacity: Alterations to available funding may affect staffing levels and response times for licensing, investigations, and consumer protection activities
  • Transparency and accountability: Changes to fund management require clear oversight to ensure resources are allocated efficiently and regulatory independence is maintained

Compiled from official sources — confirm details with the bill’s official record.

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