South Dakota Codified Laws 58-5A-18. Acquisition, divestiture, or merger without approval as misdemeanor
Current as of: 2023 | Check for updates
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No person may effectuate or attempt to effectuate an acquisition of control of, divestiture of, or merger with, a domestic insurer unless it has been approved by the director. A 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 58-5A-18
- Person: includes natural persons, partnerships, associations, cooperative corporations, limited liability companies, and corporations. See South Dakota Codified Laws 2-14-2
Source: SL 1972, ch 267, §§ 12 (2), 36; SDCL Supp, § 58-5A-42; SL 1978, ch 359, § 2; SL 2015, ch 246, § 6.