South Dakota Codified Laws 58-6A-9. Notice contained on policy–Contents
Current as of: 2023 | Check for updates
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Any policy issued by any person, firm, association, or corporation licensed pursuant to the provisions of chapter 58-6A, on business placed with risk retention groups or written through a purchasing group, shall inform each prospective insured of the provisions of the notice and shall contain in ten–point type on the front page and the declaration page, the following notice:
NOTICE
Terms Used In South Dakota Codified Laws 58-6A-9
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Person: includes natural persons, partnerships, associations, cooperative corporations, limited liability companies, and corporations. See South Dakota Codified Laws 2-14-2
- State: when used in context signifying a jurisdiction other than the State of South Dakota, a state, the District of Columbia, a territory, commonwealth, or possession of the United States of America, or a province of the Dominion of Canada. See South Dakota Codified Laws 58-1-2
- written: include typewriting and typewritten, printing and printed, except in the case of signatures, and where the words are used by way of contrast to typewriting and printing. See South Dakota Codified Laws 2-14-2
This policy is issued by your risk retention group. Your risk retention group may not be subject to all of the insurance laws and regulations of your state. State insurance insolvency guaranty funds are not available for your risk retention group.
Source: SL 1987, ch 372, § 9; SL 1988, ch 392, § 2.