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2019 South Dakota Codified Laws
Title 58 - Insurance
Chapter 05 - Organization And General Powers Of Insurers
§ 58-5-126 Approval by director of bulk reinsurance by mutual insurer--Disapproval--Notice.
Universal Citation: SD Codified L § 58-5-126 (2019)
58-5-126. Approval by director of bulk reinsurance by mutual insurer--Disapproval--Notice. The director of the Division of Insurance shall approve any agreement pursuant to § 58-5-123 within a reasonable time after filing if he finds it to be fair and equitable to each domestic insurer involved, and that such reinsurance would not substantially reduce the protection or service to its policyholders. If the director does not approve, he shall notify each insurer involved in writing specifying his reasons therefor.
Source: SL 1966, ch 111, ch 16, § 41 (2).
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