South Dakota Codified Laws 58-35-41. Application for insurance to be in writing–Advance cash payments
Current as of: 2023 | Check for updates
|
Other versions
An insurer shall require a written application from each person desiring insurance. If the insurer is transacting business on the assessment plan, the applicant shall at the time of application give his obligation to the insurer for the payment of losses and expenses as provided in the insurer’s bylaws, and make such advance payment in cash as the insurer may require.
Terms Used In South Dakota Codified Laws 58-35-41
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Person: includes natural persons, partnerships, associations, cooperative corporations, limited liability companies, and corporations. See South Dakota Codified Laws 2-14-2
- written: include typewriting and typewritten, printing and printed, except in the case of signatures, and where the words are used by way of contrast to typewriting and printing. See South Dakota Codified Laws 2-14-2
Source: SL 1966, ch 111, ch 17, § 26.