S.D. Codified Laws § 58-5-22

Current through the 2024 Legislative Session

Section 58-5-22 - Expendable surplus funds required of domestic mutual insurer

In addition to surplus deposited and thereafter to be maintained as shown in columns (g) and (h) of the schedule in § 58-5-21, the insurer when first authorized must have on hand surplus funds, which it can thereafter expend in the conduct of its business, in amount not less than fifty percent of the deposited and maintained surplus required of it under the said schedule.

SDCL 58-5-22

SL 1966, ch 111, ch 16, § 9.