South Dakota Codified Laws 58-29A-56. Creation of association–Membership–Exercise of powers
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There is created a nonprofit unincorporated legal entity to be known as the South Dakota Insurance Guaranty Association. Any insurer defined as a member insurer in subdivision 58-29A-55(9) is a member of the association as a condition of its authority to transact insurance in this state. The association shall perform its functions under a plan of operation established and approved under §§ 58-29A-83 to 58-29A-87, inclusive, and shall exercise its powers through a board of directors established under §§ 58-29A-57 and 58-29A-58.
Terms Used In South Dakota Codified Laws 58-29A-56
- 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 2000, ch 247, § 3.