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2019 South Dakota Codified Laws
Title 58 - Insurance
Chapter 05 - Organization And General Powers Of Insurers
§ 58-5-19 Trust deposit of premiums or fees collected by mutual insurer on qualifying applications.
Universal Citation: SD Codified L § 58-5-19 (2019)
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.
Source: SL 1966, ch 111, ch 16, § 12 (1).
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