South Dakota Statutes
§ 58-32-1 — Purposes of chapter.
It is declared that the purposes of this chapter are to provide orderly access for the insuring public of South Dakota to insurers not authorized to transact insurance in this state, through licensed surplus line brokers in South Dakota for insurance coverages not procurable from authorized insurers; to protect such authorized insurers, which must meet certain standards as to policy forms and rates, from unwarranted competition by unauthorized insurers who, in the absence of this chapter, would not be subject to similar requirements; and for other purposes as set forth in this chapter.
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Related
Western States Land & Cattle Co. v. Lexington Insurance Co.
459 N.W.2d 429 (South Dakota Supreme Court, 1990)
Legislative History
SL 1966, ch 111, ch 11, § 1 (2); SL 2001, ch 286, § 193.
Nearby Sections
15
§ 58-1-1
Citation of title.§ 58-1-11
General saving clause.§ 58-1-13
Severability of provisions.§ 58-1-14
Notice of nonrenewal of policy must be mailed sixty days prior to renewal date--Exceptions.§ 58-1-14.1
Notice of refusal to renew--Thirty§ 58-1-16.1
Applicability of §§ 58-1-18
Repealed by SL 2012, ch 252, § 30.§ 58-1-2
Definition of terms.