South Dakota § 58-29A-56 Creation of association--Membership--Exercise of powers.

South Dakota Statutes

§ 58-29A-56 — Creation of association--Membership--Exercise of powers.

South Dakota § 58-29A-56

Title 58INSURANCE

Ch. 58-29AINSURANCE GUARANTY ASSOCIATION

This text of South Dakota § 58-29A-56 (Creation of association--Membership--Exercise of powers.) 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 § 58-29A-56 (2026).

Text

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 .

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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 .