South Dakota § 58-25-23 Reserves restored to net profits over twenty

South Dakota Statutes

§ 58-25-23 — Reserves restored to net profits over twenty

South Dakota § 58-25-23

Title 58INSURANCE

Ch. 58-25TITLE INSURANCE RATES AND POLICIES

This text of South Dakota § 58-25-23 (Reserves restored to net profits over twenty) is published on Counsel Stack Legal Research, covering South Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.D. Codified Laws § 58-25-23 (2026).

Text

The aggregate of the amounts set aside in this reserve in any calendar year pursuant to § 58-25-22 shall be released from the reserve and restored to net profits over a period of twenty years at an amortization rate not to exceed the following formula: thirty - five percent of the aggregate sum on July first of the year next succeeding the year of addition; fifteen percent of the aggregate sum on July first of each of the succeeding two years; ten percent of the aggregate sum on July first of the next succeeding year; three percent of the aggregate sum on July first of each of the next three succeeding years; two percent of the aggregate sum on July first of each of the next three succeeding years; and one percent of the aggregate sum on July first of each of the next succeeding ten years.

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The aggregate of the amounts set aside in this reserve in any calendar year pursuant to § 58-25-22 shall be released from the reserve and restored to net profits over a period of twenty years at an amortization rate not to exceed the following formula: thirty - five percent of the aggregate sum on July first of the year next succeeding the year of addition; fifteen percent of the aggregate sum on July first of each of the succeeding two years; ten percent of the aggregate sum on July first of the next succeeding year; three percent of the aggregate sum on July first of each of the next three succeeding years; two percent of the aggregate sum on July first of each of the next three succeeding years; and one percent of the aggregate sum on July first of each of the next succeeding ten years.