South Dakota § 58-29A-60 General corporate powers of association.

South Dakota Statutes

§ 58-29A-60 — General corporate powers of association.

South Dakota § 58-29A-60

Title 58INSURANCE

Ch. 58-29AINSURANCE GUARANTY ASSOCIATION

This text of South Dakota § 58-29A-60 (General corporate powers of association.) 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-60 (2026).

Text

The association may:

(1)Employ or retain such persons as are necessary to handle claims and perform other duties of the association;

(2)Borrow funds necessary to effect the purposes of this chapter in accord with the plan of operation;

(3)Sue or be sued. The power to sue includes the power and right to intervene as a party before any court in this state that has jurisdiction over an insolvent insurer as defined by this chapter;

(4)Negotiate and become a party to such contracts as are necessary to carry out the purpose of this chapter;

(5)Perform such other acts as are necessary or proper to effectuate the purpose of this chapter.

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The association may: (1) Employ or retain such persons as are necessary to handle claims and perform other duties of the association; (2) Borrow funds necessary to effect the purposes of this chapter in accord with the plan of operation; (3) Sue or be sued. The power to sue includes the power and right to intervene as a party before any court in this state that has jurisdiction over an insolvent insurer as defined by this chapter; (4) Negotiate and become a party to such contracts as are necessary to carry out the purpose of this chapter; (5) Perform such other acts as are necessary or proper to effectuate the purpose of this chapter.