South Dakota Codified Laws 58-34-31. Modification of subscribers’ agreement or power of attorney
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Modifications of the terms of the subscribers’ agreement or of the power of attorney of a domestic reciprocal insurer shall be made jointly by the attorney and the subscribers’ advisory committee. No such modification shall be effective until approved by the director.
Terms Used In South Dakota Codified Laws 58-34-31
- Attorney: as used in this chapter , refers to the attorney in fact of a reciprocal insurer. See South Dakota Codified Laws 58-34-3
- Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
Source: SL 1966, ch 111, ch 19, § 11.