South Dakota Codified Laws 58-5-33. Amount of assessment by mutual insurer
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The assessment under § 58-5-32 shall be in an amount to cure such deficiency and to provide a reasonable amount of working funds which shall not exceed five percent of the insurer’s liabilities as of the date such deficiency was determined.
Terms Used In South Dakota Codified Laws 58-5-33
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
Source: SL 1966, ch 111, ch 16, § 30 (2).