This bill amends existing provisions related to the Division of Insurance and the former Division of Securities operating fund in South Dakota. Specifically, it modifies Section 4-4-4.3 to establish the insurance operating fund within the state treasury, which will receive all fees collected by the Division of Insurance. The bill stipulates that all funds must be budgeted and spent according to Title 4 regulations, with expenditures limited to necessary expenses outlined in specific chapters and title 58.

Additionally, the bill amends Section 4-4-4.4 to require the state treasurer to transfer any cash balance exceeding two hundred thousand dollars from the insurance operating fund to the general fund at the end of each fiscal quarter. These changes aim to streamline the management of funds related to the Division of Insurance and ensure that excess funds are appropriately allocated to the general fund.

Statutes affected:
Introduced, 01/03/2025: 4-4-4.3, 4-4-4.4
Enrolled, 02/11/2025: 4-4-4.3, 4-4-4.4