A corporation subject to the provisions of this chapter may issue contracts only when the director has by formal license authorized it to do so. Violation of this section is a Class 2 misdemeanor.

Attorney's Note

Under the South Dakota Laws, punishments for crimes depend on the classification. In the case of this section:
ClassPrisonFine
Class 2 misdemeanorup to 30 daysup to $500
For details, see § 22-6-2
lawyer at desk

Ask an insurance law question, get an answer ASAP!
Click here to chat with a lawyer about your rights.

Terms Used In South Dakota Codified Laws 58-38-6

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.

Source: SL 1966, ch 111, ch 21, § 6; SL 1978, ch 359, § 2.

  Previous section
Next section  
 Chapter 38 Contents