South Dakota Codified Laws 51A-17-2.6. Designation of an agent by the director
Current as of: 2023 | Check for updates
|
Other versions
The director may designate an agent to serve on the director’s behalf as a beneficiary to a letter of credit so long as the agent and letter of credit meet the requirements established by the director. The director’s agent may serve as agent for multiple licensing authorities for a single irrevocable letter of credit if the proceeds of the drawable amount for the purposes of §§ 51A-17-2 to 51A-17-2.5, inclusive, are assigned to the director.
Terms Used In South Dakota Codified Laws 51A-17-2.6
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
Source: SL 2023, ch 159, § 6.