South Dakota Statutes
§ 58-5-85 — Domestic insurers--Management and exclusive agency contracts, filing with and approval by director--Violation as misdemeanor.
No domestic insurer shall make or participate in any contract whereby any person is granted or is to enjoy in fact the management of the insurer to the substantial exclusion of its board of directors, or to have the controlling or preemptive right to produce substantially all insurance business for the insurer, unless the contract is filed with and approved by the director of the Division of Insurance. Violation of this section is a Class 2 misdemeanor.
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South Dakota § 58-5-85 (Domestic insurers--Management and exclusive agency contracts, filing with and approval by director--Violation as misdemeanor.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
SL 1966, ch 111, ch 16, § 23 (1); SL 1978, ch 359, § 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Repealed by SL 2012, ch 252, § 30.§ 58-1-2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.