South Dakota Codified Laws 58-20-39. Self-insurance association not an insurance company
Current as of: 2023 | Check for updates
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Notwithstanding any other provision of law to the contrary, any association organized pursuant to §§ 58-20-25 to 58-20-40, inclusive, is not an insurance company or insurer under the laws of this state; any agreement forming an association does not constitute insurance or the conduct of an insurance business; and no association organized pursuant to §§ 58-20-25 to 58-20-40, inclusive, may be a member of the South Dakota Insurance Guaranty Association.
Terms Used In South Dakota Codified Laws 58-20-39
- Insurance business: includes the transaction of all matters pertaining to a contract of insurance, both before and after the effectuation of that contract, and all matters arising out of that contract or any claim thereunder. See South Dakota Codified Laws 58-1-2
- 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
Source: SL 1995, ch 282, § 15.