South Dakota § 58-29A-86 Delegation of functions to interstate organization--Reimbursement of organization--Approval of delegation.

South Dakota Statutes

§ 58-29A-86 — Delegation of functions to interstate organization--Reimbursement of organization--Approval of delegation.

South Dakota § 58-29A-86

Title 58INSURANCE

Ch. 58-29AINSURANCE GUARANTY ASSOCIATION

This text of South Dakota § 58-29A-86 (Delegation of functions to interstate organization--Reimbursement of organization--Approval of delegation.) 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-86 (2026).

Text

The plan of operation may provide that any or all powers and duties of the association, except those under subdivision 58-29A-60(2) and those under §§ 58-29A-75 to 58-29A-81 , inclusive, are delegated to a corporation, association, or other organization which performs or will perform functions similar to those of this association, or its equivalent, in two or more states. Such a corporation, association, or organization shall be reimbursed as a servicing facility would be reimbursed and shall be paid for its performance of any other functions of the association. A delegation under this section shall take effect only with the approval of both the board of directors and the director, and may be made only to a corporation, association, or organization which extends protection not substantiall

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The plan of operation may provide that any or all powers and duties of the association, except those under subdivision 58-29A-60(2) and those under §§ 58-29A-75 to 58-29A-81 , inclusive, are delegated to a corporation, association, or other organization which performs or will perform functions similar to those of this association, or its equivalent, in two or more states. Such a corporation, association, or organization shall be reimbursed as a servicing facility would be reimbursed and shall be paid for its performance of any other functions of the association. A delegation under this section shall take effect only with the approval of both the board of directors and the director, and may be made only to a corporation, association, or organization which extends protection not substantially less favorable and effective than that provided by this chapter.