South Dakota Statutes
§ 58-18-57 — Approval of purchasing organization by Division of Insurance.
Any organization shall, prior to its engaging in the business of insurance, obtain approval from the Division of Insurance. The division may deny approval or withdraw approval of an organization to engage in the business of insurance for any of the following reasons:
(1)Any of the grounds specified in § 58-6-8 ;
(2)Insufficient membership control of the organization;
(3)Unreasonable compensation to officers, directors, or employees of the organization;
(4)Misuse of premiums; or (5) Refusal to be examined or to cooperate in an examination.
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South Dakota § 58-18-57 (Approval of purchasing organization by Division of Insurance.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
SL 1994, ch 382, § 6.
Nearby Sections
15
§ 58-1-1
Citation of title.§ 58-1-11
General saving clause.§ 58-1-13
Severability of provisions.§ 58-1-14
Notice of nonrenewal of policy must be mailed sixty days prior to renewal date--Exceptions.§ 58-1-14.1
Notice of refusal to renew--Thirty§ 58-1-16.1
Applicability of §§ 58-1-18
Repealed by SL 2012, ch 252, § 30.§ 58-1-2
Definition of terms.