South Dakota Statutes
§ 58-5-138.1 — Compensation of officer, insurance producer, or employee of converting mutual insurer prohibited.
South Dakota § 58-5-138.1
This text of South Dakota § 58-5-138.1 (Compensation of officer, insurance producer, or employee of converting mutual insurer prohibited.) 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 § 58-5-138.1 (2026).
Text
No director, officer, insurance producer, or employee of any mutual insurer party to a reorganization or conversion to a corporation with capital stock may receive any fee, commission, compensation, or other valuable consideration for that participation except as set forth in the reorganization or conversion plan.
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Legislative History
SL 1984, ch 325, § 2; SL 2001, ch 286, § 74.
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Repealed by SL 2012, ch 252, § 30.§ 58-1-2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.Cite This Page — Counsel Stack
Bluebook (online)
South Dakota § 58-5-138.1, Counsel Stack Legal Research, https://law.counselstack.com/statute/sd/58-5-138.1.