South Dakota § 58-5-65 Other permitted pecuniary interest of director, officer, or employee of insurer.

South Dakota Statutes

§ 58-5-65 — Other permitted pecuniary interest of director, officer, or employee of insurer.

South Dakota § 58-5-65

Title 58INSURANCE

Ch. 58-4AORGANIZATION AND GENERAL POWERS OF INSURERS

This text of South Dakota § 58-5-65 (Other permitted pecuniary interest of director, officer, or employee of insurer.) 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 § 58-5-65 (2026).

Text

The director of the Division of Insurance may, by regulations, define and permit additional exceptions to the prohibition contained in § 58-5-61 solely to enable payment of reasonable compensation to a director, officer, or employee of the insurer, or to a corporation or firm in which a director, officer, or employee is interested, for necessary services performed or sales or purchases made to or for the insurer in the ordinary course of the insurer's business and in the usual private professional or business capacity of such director, officer, employee, or such corporation or firm.

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The director of the Division of Insurance may, by regulations, define and permit additional exceptions to the prohibition contained in § 58-5-61 solely to enable payment of reasonable compensation to a director, officer, or employee of the insurer, or to a corporation or firm in which a director, officer, or employee is interested, for necessary services performed or sales or purchases made to or for the insurer in the ordinary course of the insurer's business and in the usual private professional or business capacity of such director, officer, employee, or such corporation or firm.