South Dakota § 58-30-129 Sharing interim profits.

South Dakota Statutes

§ 58-30-129 — Sharing interim profits.

South Dakota § 58-30-129

Title 58INSURANCE

Ch. 58-29FINSURANCE PRODUCERS

This text of South Dakota § 58-30-129 (Sharing interim profits.) 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 § 58-30-129 (2026).

Text

If the contract provides for a sharing of interim profits by the managing general agent, and the managing general agent may determine the amount of the interim profits by establishing loss reserves or controlling claim payments, or in any other manner, interim profits may not be paid to the managing general agent until one year after they are earned on property insurance business and five years after they are earned on casualty business and not until the profits have been verified pursuant to § 58-30-131 .

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If the contract provides for a sharing of interim profits by the managing general agent, and the managing general agent may determine the amount of the interim profits by establishing loss reserves or controlling claim payments, or in any other manner, interim profits may not be paid to the managing general agent until one year after they are earned on property insurance business and five years after they are earned on casualty business and not until the profits have been verified pursuant to § 58-30-131 .