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2019 South Dakota Codified Laws
Title 58 - Insurance
Chapter 05 - Organization And General Powers Of Insurers
§ 58-5-81 Quorum of directors during national emergency--Filling vacancies in board.
Universal Citation: SD Codified L § 58-5-81 (2019)
58-5-81. Quorum of directors during national emergency--Filling vacancies in board. In the event that the board of directors of a domestic insurer has not adopted emergency bylaws, the following provisions shall become effective upon the occurrence of such a national emergency:
(1) Three directors shall constitute a quorum for the transaction of business at all meetings of the board; and
(2) Any vacancy in the board may be filled by a majority of the remaining directors, though less than a quorum, or by a sole remaining director.
Source: SL 1966, ch 111, ch 16, ยง 43 (3).
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