South Dakota Codified Laws 58-5-20. Transaction of business without certificate of authority as misdemeanor
Current as of: 2023 | Check for updates
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The corporation shall not transact business here as an insurer until it has received a certificate of authority as provided in this title. 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:| Class | Prison | Fine |
|---|---|---|
| Class 2 misdemeanor | up to 30 days | up to $500 |
Terms Used In South Dakota Codified Laws 58-5-20
- 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 16, § 7 (4); SL 1978, ch 359, § 2.