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2019 South Dakota Codified Laws
Title 58 - Insurance
Chapter 29A - Insurance Guaranty Association
§ 58-29A-76 Administrative assessments for operating expenses.
Universal Citation: SD Codified L § 58-29A-76 (2019)
58-29A-76. Administrative assessments for operating expenses. In addition to any other assessments authorized by this chapter, the association may assess each member insurer an administrative assessment not to exceed five hundred dollars per annum. The administrative assessment shall be made for the purpose of paying operating expenses of the association and its employees not directly attributable to any particular insolvency or insolvent insurer, and the administrative assessment may not be on a pro rata basis. The assessments are due not less than thirty days after prior written notice to the member insurer and shall accrue interest at ten percent per annum on and after the due date.
Source: SL 2000, ch 247, § 23; SL 2013, ch 251, § 1.
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