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2019 South Dakota Codified Laws
Title 58 - Insurance
Chapter 29A - Insurance Guaranty Association
§ 58-29A-56 Creation of association--Membership--Exercise of powers.
Universal Citation: SD Codified L § 58-29A-56 (2019)
58-29A-56. Creation of association--Membership--Exercise of powers. There is created a nonprofit unincorporated legal entity to be known as the South Dakota Insurance Guaranty Association. Any insurer defined as a member insurer in subdivision 58-29A-55(9) is a member of the association as a condition of its authority to transact insurance in this state. The association shall perform its functions under a plan of operation established and approved under §§ 58-29A-83 to 58-29A-87, inclusive, and shall exercise its powers through a board of directors established under §§ 58-29A-57 and 58-29A-58.
Source: SL 2000, ch 247, § 3.
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