South Dakota Statutes
§ 58-5-131 — Filing and hearing on consolidation or merger plan--Grounds for disapproval.
No such merger or consolidation shall go into effect until the plan and agreement therefor is filed with the director and approved by him after a hearing thereon. Such plan and agreement shall be approved by the director within a reasonable time unless he finds such plan or agreement:
(1)Is contrary to law; or (2) Is inequitable to the policyholders of any domestic insurer involved; or (3) Would substantially reduce the security of and service to be rendered to policyholders of the domestic insurer.
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South Dakota § 58-5-131 (Filing and hearing on consolidation or merger plan--Grounds for disapproval.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
SL 1966, ch 111, ch 16, § 38 (2).
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Repealed by SL 2012, ch 252, § 30.§ 58-1-2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.