There is a newer version
of
this Section
2019 South Dakota Codified Laws
Title 58 - Insurance
Chapter 05 - Organization And General Powers Of Insurers
§ 58-5-72 Suit to recover insider profits accruing to company.
Universal Citation: SD Codified L § 58-5-72 (2019)
58-5-72. Suit to recover insider profits accruing to company. Suit to recover such profit may be instituted at law or in equity in any court of competent jurisdiction by the company, or by the owner of any security of the company in the name and in behalf of the company if the company shall fail or refuse to bring such suit within sixty days after request or shall fail diligently to prosecute the same thereafter; but no such suit shall be brought more than two years after the date such profit was realized.
Source: SL 1966, ch 111, ch 16, ยง 27 (2).
Disclaimer: These codes may not be the most recent version. South Dakota may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
