Statutes, codes, and regulations
South Dakota Codified Laws
Title 58 - INSURANCE
Chapter 5 - ORGANIZATION AND GENERAL POWERS OF INSURERS
Section 58-5-19 - Trust deposit of premiums or fees collected by mutual insurer on qualifying applications

S.D. Codified Laws § 58-5-19

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Current through the 2024 Legislative Session
Section 58-5-19 - Trust deposit of premiums or fees collected by mutual insurer on qualifying applications

All sums collected by a proposed mutual insurer as premiums or fees on qualifying applications for insurance shall be deposited in trust in a bank or trust company in this state under a trust agreement consistent with § 58-5-25 and with subdivision 58-5-18(3). The corporation shall file an executed copy of such agreement with the director of insurance.

SDCL 58-5-19

SL 1966, ch 111, ch 16, § 12 (1).