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2019 South Dakota Codified Laws
Title 58 - Insurance
Chapter 05 - Organization And General Powers Of Insurers
§ 58-5-13 Deposit by incorporators of mutual insurer in lieu of bond--Amount.
Universal Citation: SD Codified L § 58-5-13 (2019)
58-5-13. Deposit by incorporators of mutual insurer in lieu of bond--Amount. In lieu of such bond, such incorporators may deposit with the director twenty-five thousand dollars or United States government bonds, negotiable and payable to the bearer, with a market value at all times of not less than twenty-five thousand dollars, to be held in trust upon the same conditions as required for such bond.
Source: SL 1966, ch 111, ch 16, ยง 10 (2).
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