S.D. Codified Laws § 58-5-13

Current through the 2024 Legislative Session

Section 58-5-13 - Deposit by incorporators of mutual insurer in lieu of bond-Amount

In lieu of such bond, such incorporators may deposit with the director twenty-five thousand dollars or United States government bonds, negotiable and payable to the bearer, with a market value at all times of not less than twenty-five thousand dollars, to be held in trust upon the same conditions as required for such bond.

SDCL 58-5-13

SL 1966, ch 111, ch 16, § 10 (2).