South Dakota Statutes
§ 58-5-24 — Cessation of corporate powers upon failure of mutual insurer to secure certificate of authority--Return of trust deposit.
South Dakota § 58-5-24
This text of South Dakota § 58-5-24 (Cessation of corporate powers upon failure of mutual insurer to secure certificate of authority--Return of trust deposit.) 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 § 58-5-24 (2026).
Text
If the proposed domestic insurer fails to secure its certificate of authority within one year from the date of its certificate of incorporation, its corporate powers shall cease, and the director shall cause to be returned to the persons entitled thereto all sums held in trust under § 58-5-19 .
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Legislative History
SL 1966, ch 111, ch 16, § 13.
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Repealed by SL 2012, ch 252, § 30.§ 58-1-2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 § 58-5-24, Counsel Stack Legal Research, https://law.counselstack.com/statute/sd/58-5-24.