South Dakota Statutes
§ 58-5-140 — Distributive share of each member on liquidation of mutual insurer--Classification of policies.
South Dakota § 58-5-140
This text of South Dakota § 58-5-140 (Distributive share of each member on liquidation of mutual insurer--Classification of policies.) 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 § 58-5-140 (2026).
Text
The distributive share of each such member shall be in the proportion that the aggregate premiums earned by the insurer on the policies of the member during the combined periods of his membership bear to the aggregate of all premiums so earned on the policies of all such members. The insurer may, and if a life insurer shall, make a reasonable classification of its policies so held by such member and a formula based upon such classification, for determining the equitable distributive share of each such member. Such classification and formula shall be subject to the approval of the director of the Division of Insurance.
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Legislative History
SL 1966, ch 111, ch 16, § 42 (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Repealed by SL 2012, ch 252, § 30.§ 58-1-2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.Cite This Page — Counsel Stack
Bluebook (online)
South Dakota § 58-5-140, Counsel Stack Legal Research, https://law.counselstack.com/statute/sd/58-5-140.