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2019 South Dakota Codified Laws
Title 58 - Insurance
Chapter 05 - Organization And General Powers Of Insurers
§ 58-5-47 Bylaws of domestic stock insurer--Adoption, modification, and revocation.
Universal Citation: SD Codified L § 58-5-47 (2019)
58-5-47. Bylaws of domestic stock insurer--Adoption, modification, and revocation. Before commencing business, the initial board of directors of a domestic stock insurer shall adopt bylaws which shall be subject to the approval by a two-thirds vote of the stockholders present in person or by proxy at the next succeeding stockholders' meeting. Stockholders shall have the power to make, modify, or revoke bylaws by a two-thirds vote of those stockholders present in person or by proxy at a stockholders' meeting.
Source: SL 1966, ch 111, ch 16, ยง 17 (1).
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