South Dakota Codified Laws 58-5-86. Domestic insurer–Management and exclusive agency contracts, disapproval by director, grounds
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The director shall disapprove any such contract if he finds that it:
(1) Subjects the insurer to excessive charges; or
Terms Used In South Dakota Codified Laws 58-5-86
- Contract: A legal written agreement that becomes binding when signed.
(2) Is to extend for an unreasonable length of time; or
(3) Does not contain fair and adequate standards of performance; or
(4) Contains any provision which the director deems detrimental to the best interests of stockholders or members of the insurer.
Source: SL 1966, ch 111, ch 16, § 23 (2).