South Dakota Statutes
§ 58-5A-63 — Transactions or contracts entered into without approval--Cease and desist order by director.
South Dakota § 58-5A-63
This text of South Dakota § 58-5A-63 (Transactions or contracts entered into without approval--Cease and desist order by director.) 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 § 58-5A-63 (2026).
Text
If any insurer subject to this chapter or any director, officer, employee, or agent has engaged in any transaction or entered into a contract which is subject to §§ 58-5A-32 , 58-5A-34 , 58-5A-35 , 58-5A-56 , 58-5A-58 , and 58-5A-59 and which would not have been approved had approval been requested, the director may order the insurer to cease and desist immediately any further activity under that transaction or contract. After notice and hearing, the director may also order the insurer to void any contracts and restore the status quo if the action is in the best interest of the policyholders, creditors, or the public.
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Legislative History
SL 1992, ch 341, § 30.
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Repealed by SL 2012, ch 252, § 30.§ 58-1-2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 § 58-5A-63, Counsel Stack Legal Research, https://law.counselstack.com/statute/sd/58-5A-63.