South Dakota Codified Laws 58-11-55.2. Applicability of § 58-11-55
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Except as provided by §§ 58-15-45 and 58-11-55.1, § 58-11-55 applies to all types of insurance issued by all insurers under Title 58. However, nothing in § 58-11-55 may be construed as applying to or affecting the right of any fraternal benefit society subject to chapter 58-37A to determine its eligibility requirements for membership or be construed as applying to or affecting the offering of benefits exclusively to members or persons eligible for membership in the society by a subsidiary corporation or an affiliated organization of the society.
Terms Used In South Dakota Codified Laws 58-11-55.2
- 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.
Source: SL 1997, ch 287, § 3.