South Dakota Codified Laws 58-6-25. Additional types of insurance–Request for authority to transact within three years after issuance of initial certificate–Basic surplus or additional surplus required
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If within three years after date of its initial certificate of authority in this state such an insurer requests authority to transact an additional kind or kinds of insurance, it shall not be so authorized unless it then possesses basic surplus or additional surplus in such an amount as would be required under § 58-6-23 for an original certificate of authority covering all the kinds of insurance the insurer then proposes to transact.
Terms Used In South Dakota Codified Laws 58-6-25
- State: when used in context signifying a jurisdiction other than the State of South Dakota, a state, the District of Columbia, a territory, commonwealth, or possession of the United States of America, or a province of the Dominion of Canada. See South Dakota Codified Laws 58-1-2
Source: SL 1966, ch 111, ch 3, § 10 (3).