South Dakota Statutes
§ 58-5A-54 — Report of dividends and distributions to shareholders--Time limit.
In addition to the filing requirements of §§ 58-5A-23 and 58-5A-35 , each registered insurer shall file with the director a report of all dividends and other distributions to shareholders within fifteen business days following the declaration thereof. However, payment may not be made until ten days after the division receives the report. However, payment of an ordinary dividend may be made on the day that it is declared if an intention to declare the dividend is received by the division ten days before the date of payment. The division shall hold the notice of intention to declare a dividend confidential until the dividend has been declared.
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South Dakota § 58-5A-54 (Report of dividends and distributions to shareholders--Time limit.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
SL 1992, ch 341, § 17; SL 1993, ch 359, § 2; SL 1994, ch 373.
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Repealed by SL 2012, ch 252, § 30.§ 58-1-2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.