2019 South Dakota Codified Laws
Title 58 - Insurance
Chapter 37A - Fraternal Benefit Societies
§ 58-37A-29 Foreign or alien society--Qualifications and procedure for admission to transact business in state.
58-37A-29. Foreign or alien society--Qualifications and procedure for admission to transact business in state. It is a Class 2 misdemeanor for any foreign or alien society to transact business in this state without a license issued by the director. Any foreign or alien society desiring admission to this state shall have the qualifications required of domestic societies organized under this chapter. Any foreign or alien society may be licensed to transact business in this state upon filing with the director:
(1) A duly certified copy of its articles of incorporation;
(2) A copy of its bylaws, certified by its secretary or corresponding officer;
(3) A power of attorney to the director as prescribed in § 58-37A-35;
(4) A statement of its business under oath of its president and secretary or corresponding officers in a form prescribed by the director, verified by an examination made by the supervising insurance official of its home state or other state, territory, province, or country, satisfactory to the director;
(5) Certification from the proper official of its home state, territory, province, or country that the society is legally incorporated and licensed to transact business;
(6) Copies of its certificate forms; and
(7) Any other information as the director considers necessary;
and upon a showing that its assets are invested in accordance with the provisions of this chapter.
Source: SL 1990, ch 410, § 29.
