South Dakota § 58-34-14 Surplus funds of domestic reciprocal insurer--Amounts required.

South Dakota Statutes

§ 58-34-14 — Surplus funds of domestic reciprocal insurer--Amounts required.

South Dakota § 58-34-14

Title 58INSURANCE

Ch. 58-34RECIPROCAL INSURERS

This text of South Dakota § 58-34-14 (Surplus funds of domestic reciprocal insurer--Amounts required.) 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 § 58-34-14 (2026).

Text

A domestic reciprocal insurer formed after June 30, 1966, may be authorized to transact insurance if it has otherwise complied with the applicable provisions of this title and has and thereafter maintains surplus funds as follows:

(1)To transact property insurance, surplus of not less than two hundred thousand dollars;

(2)To transact casualty insurance, without workers' compensation included, surplus of not less than two hundred thousand dollars; to transact casualty insurance, including workers' compensation, surplus of not less than three hundred thousand dollars.

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A domestic reciprocal insurer formed after June 30, 1966, may be authorized to transact insurance if it has otherwise complied with the applicable provisions of this title and has and thereafter maintains surplus funds as follows: (1) To transact property insurance, surplus of not less than two hundred thousand dollars; (2) To transact casualty insurance, without workers' compensation included, surplus of not less than two hundred thousand dollars; to transact casualty insurance, including workers' compensation, surplus of not less than three hundred thousand dollars.