§ 58-6-76 — Summary of statement of financial condition of insurer--Publication by director.

South Dakota § 58-6-76

• Jurisdiction: South Dakota
• Title 58: INSURANCE
• Ch. 58-5C: AUTHORITY TO TRANSACT INSURANCE IN STATE

Text

The director of the Division of Insurance shall cause a summary, condensed from the annual statement of each company to be published three times, at the expense of the company, at legal rates, in a legal newspaper printed and published in each judicial circuit of the state in which the insurance company has a licensed insurance producer. Condensed statements for publication shall be made on blanks furnished by the director, which shall be uniform as to the information conveyed to the public and which, set in nonpareil type, together with the annual certificate of authority of the company, constitute a printed statement uniformly ten inches in length. A printer's affidavit, in duplicate, shall be filed with the director in all cases. The affidavit shall state that the insurance company has paid the newspaper the authorized rate for publishing legal notices, that the full amount named inures to the sole benefit of the publisher or publishers thereof, that no agreement or understanding for the division thereof was made with any person, and that no part thereof was agreed to be paid to any person. Every affidavit of publication shall state in plain terms that the full amount authorized herein was charged and collected for the publication.

Legislative History

SL 1966, ch 111, ch 3, § 27; SL 1982, ch 355; SL 2001, ch 286, § 86.