South Dakota § 58-29C-50 Board of directors--Appointment and term--Vacancies--Compensation.

South Dakota Statutes

§ 58-29C-50 — Board of directors--Appointment and term--Vacancies--Compensation.

South Dakota § 58-29C-50

Title 58INSURANCE

Ch. 58-29ALIFE AND HEALTH INSURANCE GUARANTY ASSOCIATION

This text of South Dakota § 58-29C-50 (Board of directors--Appointment and term--Vacancies--Compensation.) 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 § 58-29C-50 (2026).

Text

A.The board of directors of the association shall consist of not less than seven nor more than eleven member insurers serving terms as established in the plan of operation. The insurer members of the board shall be elected by member insurers subject to the approval of the director. Vacancies on the board shall be filled for the remaining period of the term by a majority vote of the remaining board members, subject to the approval of the director.

B.In approving selections or in appointing members to the board, the director may consider whether all member insurers are fairly represented.

C.Members of the board may be reimbursed from the assets of the association for expenses incurred as members of the board of directors, but members of the board may not otherwise be compensated by the as

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A. The board of directors of the association shall consist of not less than seven nor more than eleven member insurers serving terms as established in the plan of operation. The insurer members of the board shall be elected by member insurers subject to the approval of the director. Vacancies on the board shall be filled for the remaining period of the term by a majority vote of the remaining board members, subject to the approval of the director. B. In approving selections or in appointing members to the board, the director may consider whether all member insurers are fairly represented. C. Members of the board may be reimbursed from the assets of the association for expenses incurred as members of the board of directors, but members of the board may not otherwise be compensated by the association for services rendered.