South Dakota Codified Laws 58-20-37. Deficiency of self-insurance associations made up by members
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If the assets of an association are at any time insufficient to enable the association to discharge its liabilities and obligations, the association’s members shall make up the deficiency or the department may order the association to levy an assessment upon its members in an amount necessary to make up the deficiency.
Terms Used In South Dakota Codified Laws 58-20-37
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
Source: SL 1995, ch 282, § 13.