South Dakota Codified Laws 58-5-62. Guarantee by insurer of any financial obligation of its officers, directors, stockholders, or members prohibited
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No insurer shall guarantee any financial obligation of any of its officers, directors, stockholders, or members.
Terms Used In South Dakota Codified Laws 58-5-62
- 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.
Source: SL 1966, ch 111, ch 16, § 22 (2).