South Dakota § 58-6-27 Continuation of authority of insurer holding prior certificate--Maintenance of capital stock or surplus requirements.

South Dakota Statutes

§ 58-6-27 — Continuation of authority of insurer holding prior certificate--Maintenance of capital stock or surplus requirements.

South Dakota § 58-6-27

Title 58INSURANCE

Ch. 58-5CAUTHORITY TO TRANSACT INSURANCE IN STATE

This text of South Dakota § 58-6-27 (Continuation of authority of insurer holding prior certificate--Maintenance of capital stock or surplus requirements.) 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 § 58-6-27 (2026).

Text

A domestic or foreign insurer holding a valid certificate of authority to transact insurance in this state immediately prior to July 1, 1966, may continue to transact the same kinds of insurance as permitted by such certificate of authority by maintaining thereafter unimpaired not less than the same amount of paid - in capital stock, if a stock insurer, or not less than the same amount of surplus, if a mutual or reciprocal insurer, as required under the laws of this state for such authority in force immediately prior to July 1, 1966, and as if such laws had continued in force. Once a stock company has accumulated the capital and surplus to exceed the minimum capital and surplus for the line authorized pursuant to § 58-6-23 , then § 58-6-23 shall apply. Once a mutual company has accumulated

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A domestic or foreign insurer holding a valid certificate of authority to transact insurance in this state immediately prior to July 1, 1966, may continue to transact the same kinds of insurance as permitted by such certificate of authority by maintaining thereafter unimpaired not less than the same amount of paid - in capital stock, if a stock insurer, or not less than the same amount of surplus, if a mutual or reciprocal insurer, as required under the laws of this state for such authority in force immediately prior to July 1, 1966, and as if such laws had continued in force. Once a stock company has accumulated the capital and surplus to exceed the minimum capital and surplus for the line authorized pursuant to § 58-6-23 , then § 58-6-23 shall apply. Once a mutual company has accumulated the capital and surplus to exceed the minimum capital and surplus for the line authorized pursuant to § 58-5-21 , then § 58-5-21 shall apply.