2013 South Dakota Codified Laws
Title 58 - INSURANCE
Chapter 35 - Farm Mutual Insurers
§ 58-35-39 Cash premium plan--Special assessment in case of inadequacy.
58-35-39. Cash premium plan--Special assessment in case of inadequacy. An insurer transacting business on the cash premium plan shall provide in its bylaws and policies for special assessment of its members if the cash premium charged is found to be inadequate to pay losses and expenses currently incurred. The bylaws shall provide that the amount which can be so assessed in any one policy year shall not be less than one nor more than six times the premium charged on each member's policy at the annual rate for a term of one year.
Source: SL 1966, ch 111, ch 17, § 6 (4).
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