This won't cover 100% of organizations, but the overlap of most rules is:
The disconnect switch must sever ALL power and kill the car at higher than idle RPM's (usually they have us rev the car to 3k RPM's and show them that it will die). Common points to open to kill the car (using the 3rd/4th terminal on the kill switch) are the alternator, ignition switch, or I prefer some sort of engine/main fuse that typically kills fuel/spark when opened. I haven't gotten to wiring a kill switch into my Goblin yet so I haven't figured out what to tap into.
In terms of placement, most specify that it must be accessible by emergency response and the driver. I prefer to mount it on the left down bar (to the left of the steering wheel, next to our ignition switch) since it satisfies both of these conditions with one switch.
I don't think organizations who would allow an open cockpit/open wheel car run would be strict about (or even require) a kill switch but I could be wrong. Usually it's just w2w where they have any actual tech inspection.