S.D. Codified Laws § 58-34-15

Current through the 2024 Legislative Session

Section 58-34-15 - Additional expendable surplus required of new insurer

In addition to surplus required to be maintained under § 58-34-14, a domestic reciprocal insurer formed after June 30, 1966, shall have, when first authorized to transact insurance, expendable surplus equal to not less than one-half of the minimum amount of surplus required to be maintained.

SDCL 58-34-15

SL 1966, ch 111, ch 19, § 8 (3).