reglab/housing_qa huggingface dataset:
SD Codified L § 58-34-24 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 34 - Reciprocal Insurers|Section 58-34-24 - Liability of subscribers for judgment against insurer--Service of legal process.

58-34-24. Liability of subscribers for judgment against insurer--Service of legal process.Any judgment based upon legal process so served shall be binding upon each of the insurer's subscribers as their respective interests may appear, but in an amount not exceeding their respective contingent liabilities, if any, the same as though personal service of process was had upon each such subscriber. Source: SL 1966, ch 111, ch 19, §15 (2).
SD Codified L § 58-34-25 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 34 - Reciprocal Insurers|Section 58-34-25 - Eligibility to become subscriber.

58-34-25. Eligibility to become subscriber.Individuals, partnerships, associations, and corporations, public or private, of this state, hereby designated as subscribers, are authorized to exchange reciprocal or interinsurance contracts with each other, or with individuals, partnerships, associations, and corporations, public or private, of other states and countries, providing indemnity among themselves for any loss which may be insured against by the reciprocal insurer to which they are subscribers; except, that public corporations of this state may so insure only in an insurer which has a surplus of three hundred thousand dollars or more and under an insurance contract as to which such an insured has no contingent liability. Source: SL 1966, ch 111, ch 19, §19 (1).
SD Codified L § 58-34-26 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 34 - Reciprocal Insurers|Section 58-34-26 - Authority of corporation to exchange insurance contracts.

58-34-26. Authority of corporation to exchange insurance contracts.Any corporation now or hereafter organized under the laws of this state shall, in addition to the rights, powers, and franchises specified in its articles of incorporation have full power and authority to exchange insurance contracts of the kind and character mentioned in §58-34-25. The right to exchange such contracts is declared to be incidental to the purposes for which such corporations are organized and as much granted as the rights and powers expressly conferred. Source: SL 1966, ch 111, ch 19, §19 (2).
SD Codified L § 58-34-27 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 34 - Reciprocal Insurers|Section 58-34-27 - Representatives of subscribers not liable on contract.

58-34-27. Representatives of subscribers not liable on contract.Any officer, representative, trustee, receiver, or legal representative of any such subscriber shall be recognized as acting for or on its behalf for the purpose of such contract but shall not be personally liable upon the contract by reason of acting in such representative capacity. Source: SL 1966, ch 111, ch 19, §19 (3).
SD Codified L § 58-34-28 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 34 - Reciprocal Insurers|Section 58-34-28 - Advisory committee representing subscribers--Selection.

58-34-28. Advisory committee representing subscribers--Selection.The advisory committee of a domestic reciprocal insurer exercising the subscribers' rights shall be selected under such rules as the subscribers adopt. Source: SL 1966, ch 111, ch 19, §20 (1).
SD Codified L § 58-34-29 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 34 - Reciprocal Insurers|Section 58-34-29 - Advisory committee--Qualifications of members.

58-34-29. Advisory committee--Qualifications of members.Not less than two-thirds of the advisory committee of a domestic reciprocal insurer shall be subscribers other than the attorney, or any person employed by, representing, or having a financial interest in the attorney. Source: SL 1966, ch 111, ch 19, §20 (2).
SD Codified L § 58-34-30 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 34 - Reciprocal Insurers|Section 58-34-30 - Powers of advisory committee.

58-34-30. Powers of advisory committee.The advisory committee of a domestic reciprocal insurer shall:(1)Supervise the finances of the insurer;(2)Supervise the insurer's operations to such extent as to assure conformity with the subscribers' agreement and power of attorney;(3)Procure the audit of the accounts and records of the insurer and of the attorney at the expense of the insurer; and(4)Have such additional powers and functions as may be conferred by the subscribers' agreement. Source: SL 1966, ch 111, ch 19, §20 (3).
SD Codified L § 58-34-31 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 34 - Reciprocal Insurers|Section 58-34-31 - Modification of subscribers' agreement or power of attorney.

58-34-31. Modification of subscribers' agreement or power of attorney.Modifications of the terms of the subscribers' agreement or of the power of attorney of a domestic reciprocal insurer shall be made jointly by the attorney and the subscribers' advisory committee. No such modification shall be effective until approved by the director. Source: SL 1966, ch 111, ch 19, §11.
SD Codified L § 58-34-32 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 34 - Reciprocal Insurers|Section 58-34-32 - Kinds of business transacted--Life or title insurance excepted.

58-34-32. Kinds of business transacted--Life or title insurance excepted.A reciprocal insurer may, upon qualifying therefor as provided for by this title, transact any kinds of business defined by this title, other than life or title insurance. Source: SL 1966, ch 111, ch 19, §4 (1).
SD Codified L § 58-34-33 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 34 - Reciprocal Insurers|Section 58-34-33 - Reinsurance authorized.

58-34-33. Reinsurance authorized.A reciprocal insurer may purchase reinsurance, and may grant reinsurance as to any kind of insurance it is authorized to transact. Source: SL 1966, ch 111, ch 19, §4 (2).
SD Codified L § 58-34-34 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 34 - Reciprocal Insurers|Section 58-34-34 - Advance of funds to insurer.

58-34-34. Advance of funds to insurer.The attorney or other parties may advance to a domestic reciprocal insurer upon reasonable terms such funds as it may require from time to time in its operations. Sums so advanced shall not be treated as a liability of the insurer, and, except upon liquidation of the insurer, shall not be withdrawn or repaid except out of the insurer's realized earned surplus in excess of its minimum required surplus. No such withdrawal or repayment shall be made without the advance approval of the director. This section does not apply to bank loans, or to other loans made upon security. Source: SL 1966, ch 111, ch 19, §16.
SD Codified L § 58-34-35 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 34 - Reciprocal Insurers|Section 58-34-35 - Liability of subscribers several and proportionate.

58-34-35. Liability of subscribers several and proportionate.The liability of each subscriber, other than as to a nonassessable policy, for the obligations of the reciprocal insurer shall be an individual, several and proportionate liability, and not joint. Source: SL 1966, ch 111, ch 19, §21 (1).
SD Codified L § 58-34-36 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 34 - Reciprocal Insurers|Section 58-34-36 - Contingent assessment liability of subscriber.

58-34-36. Contingent assessment liability of subscriber.Except as to a nonassessable policy, each subscriber shall have a contingent assessment liability, in the amount provided for in the power of attorney or in the subscribers' agreement, for payment of actual losses and expenses incurred while his policy was in force. Such contingent liability may be at the rate of not less than one nor more than ten times the premium or premium deposit stated in the policy, and the maximum aggregate thereof shall be computed in the manner set forth in §58-34-43. Source: SL 1966, ch 111, ch 19, §21 (2).
SD Codified L § 58-34-37 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 34 - Reciprocal Insurers|Section 58-34-37 - Contingent liability stated in assessable policy.

58-34-37. Contingent liability stated in assessable policy.Each assessable policy issued by the insurer shall contain a statement of the contingent liability, set in type of the same prominence as the insuring clause. Source: SL 1966, ch 111, ch 19, §21 (3).
SD Codified L § 58-34-38 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 34 - Reciprocal Insurers|Section 58-34-38 - Assessments against subscribers--Authority for levy.

58-34-38. Assessments against subscribers--Authority for levy.Assessments may be levied upon subscribers of a domestic reciprocal insurer liable therefor under the terms of their policies by the attorney upon approval by the subscribers' advisory committee and the director; or by the director in liquidation of the insurer. Source: SL 1966, ch 111, ch 19, §23 (1).
SD Codified L § 58-34-39 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 34 - Reciprocal Insurers|Section 58-34-39 - Computation of amounts of assessments--Ratio of deficiency to premiums earned.

58-34-39. Computation of amounts of assessments--Ratio of deficiency to premiums earned.Each subscriber's share of a deficiency for which an assessment is made, but not exceeding in any event his aggregate contingent liability as provided by this chapter, shall be computed by applying to the premium earned on the subscriber's policy or policies during the period to be covered by the assessment, the ratio of the total deficiency to the total premiums earned during such period upon all policies subject to the assessment. Source: SL 1966, ch 111, ch 19, §23 (2).
SD Codified L § 58-34-40 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 34 - Reciprocal Insurers|Section 58-34-40 - Earned premiums, computation for purpose of assessments.

58-34-40. Earned premiums, computation for purpose of assessments.In computing the earned premiums for the purposes of §58-34-39, the gross premium received by the insurer for the policy shall be used as a base, deducting therefrom solely charges not recurring upon the renewal or extension of the policy. Source: SL 1966, ch 111, ch 19, §23 (3).
SD Codified L § 58-34-41 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 34 - Reciprocal Insurers|Section 58-34-41 - Offset of claim for unearned premium against assessment prohibited.

58-34-41. Offset of claim for unearned premium against assessment prohibited.No subscriber shall have an offset against any assessment for which he is liable, on account of any claim for unearned premium or losses payable. Source: SL 1966, ch 111, ch 19, §23 (4).
SD Codified L § 58-34-42 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 34 - Reciprocal Insurers|Section 58-34-42 - Time limit for levy of assessment.

58-34-42. Time limit for levy of assessment.Every subscriber of a domestic reciprocal insurer having contingent liability shall be liable for, and shall pay his share of any assessment, as computed and limited in accordance with this chapter, if:(1)While his policy is in force or within one year after its termination, he is notified by either the attorney or the director of his intentions to levy such assessment; or(2)An order to show cause why a receiver, conservator, rehabilitator, or liquidator of the insurer should not be appointed is issued while his policy is in force or within one year after its termination. Source: SL 1966, ch 111, ch 19, §24.
SD Codified L § 58-34-43 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 34 - Reciprocal Insurers|Section 58-34-43 - Aggregate liability of subscriber--Maximum in one year.

58-34-43. Aggregate liability of subscriber--Maximum in one year.No one policy, or subscriber of such policy, shall be assessed or charged with an aggregate of contingent liability as to obligations incurred by a domestic reciprocal insurer in any one calendar year, in excess of the amount provided for in the power of attorney or in the subscribers' agreement, computed solely upon premium earned on such policy during that year. Source: SL 1966, ch 111, ch 19, §25.
SD Codified L § 58-34-44 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 34 - Reciprocal Insurers|Section 58-34-44 - Subscriber not liable until final judgment against insurer.

58-34-44. Subscriber not liable until final judgment against insurer.No action shall lie against any subscriber upon any obligation claimed against the insurer until a final judgment has been obtained against the insurer and remains unsatisfied for thirty days. Source: SL 1966, ch 111, ch 19, §22 (1).
SD Codified L § 58-34-45 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 34 - Reciprocal Insurers|Section 58-34-45 - Limited liability of subscriber on judgment.

58-34-45. Limited liability of subscriber on judgment.Any such judgment shall be binding upon each subscriber only in such proportion as his interest may appear and in an amount not exceeding his contingent liability, if any. Source: SL 1966, ch 111, ch 19, §22 (2).
SD Codified L § 58-34-46 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 34 - Reciprocal Insurers|Section 58-34-46 - Nonassessable policies--Authorization for issuance--Extinguishment of contingent liability.

58-34-46. Nonassessable policies--Authorization for issuance--Extinguishment of contingent liability.If a reciprocal insurer has a surplus of assets over all liabilities at least equal to the minimum capital stock required of a domestic stock insurer authorized to transact like kinds of insurance, upon application of the attorney and as approved by the subscribers' advisory committee, the director shall issue his certificate authorizing the insurer to extinguish the contingent liability of subscribers under its policies then in force in this state, and to omit provisions imposing contingent liability in all policies delivered or issued for delivery in this state for so long as all such surplus remains unimpaired. Source: SL 1966, ch 111, ch 19, §26 (1).
SD Codified L § 58-34-47 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 34 - Reciprocal Insurers|Section 58-34-47 - Extinguishment of contingent liability of all subscribers required for authorization of nonassessable policies.

58-34-47. Extinguishment of contingent liability of all subscribers required for authorization of nonassessable policies.The director shall not authorize a domestic reciprocal insurer so to extinguish the contingent liability of any of its subscribers or in any of its policies to be issued, unless it qualifies to and does extinguish such liability of all its subscribers and in all such policies for all kinds of insurance transacted by it. Except, that if required by the laws of another state in which the insurer is transacting insurance as an authorized insurer, the insurer may issue policies providing for the contingent liability of such of its subscribers as may acquire such policies in such state, and need not extinguish the contingent liability applicable to policies theretofore in force in such state. Source: SL 1966, ch 111, ch 19, §26 (3).
SD Codified L § 58-34-48 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 34 - Reciprocal Insurers|Section 58-34-48 - Impairment of surplus required for nonassessable policies--Revocation of extinguishment authority.

58-34-48. Impairment of surplus required for nonassessable policies--Revocation of extinguishment authority.Upon impairment of the surplus required by §58-34-46, the director shall forthwith revoke the certificate of authority to extinguish the contingent liability of subscribers. Such revocation shall not render subject to contingent liability any policy then in force and for the remainder of the period for which the premium has theretofore been paid; but after such revocation no policy shall be issued or renewed without providing for contingent assessment liability of the subscriber. Source: SL 1966, ch 111, ch 19, §26 (2).
SD Codified L § 58-34-49 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 34 - Reciprocal Insurers|Section 58-34-49 - Savings--Distribution to subscribers.

58-34-49. Savings--Distribution to subscribers.A reciprocal insurer may from time to time return to its subscribers any unused premiums, savings, or credits accruing to their accounts. Any such distribution shall not unfairly discriminate between classes of risks, or policies, or between subscribers, but this shall not prevent retrospective rating, nor distribution on a retrospective plan nor distribution varying as to classes of subscribers based on the experience of such subscribers. Source: SL 1966, ch 111, ch 19, §27.
SD Codified L § 58-34-50 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 34 - Reciprocal Insurers|Section 58-34-50 - Liquidation--Distribution of remaining assets to subscribers.

58-34-50. Liquidation--Distribution of remaining assets to subscribers.Upon the liquidation of a domestic reciprocal insurer, its assets remaining after discharge of its indebtedness and policy obligations, the return of any contributions of the attorney or other persons to its surplus made as provided in §58-34-34, and the return of any unused premium, savings, or credits then standing on subscribers' accounts, shall be distributed to its subscribers who were such within the twelve months prior to the last termination of its certificate of authority, according to such formula as the director may approve. Source: SL 1966, ch 111, ch 19, §28.
SD Codified L § 58-34-51 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 34 - Reciprocal Insurers|Section 58-34-51 - Annual statement of insurer--Filing.

58-34-51. Annual statement of insurer--Filing.The annual statement of a reciprocal insurer shall be made and filed by its attorney. Source: SL 1966, ch 111, ch 19, §17 (1).
SD Codified L § 58-34-52 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 34 - Reciprocal Insurers|Section 58-34-52 - Annual statement--Supplemental information required by director.

58-34-52. Annual statement--Supplemental information required by director.The annual statement of a reciprocal insurer shall be supplemented by such information as may be required by the director relative to the affairs and transactions of the attorney in so far as they relate to the reciprocal insurer. Source: SL 1966, ch 111, ch 19, §17 (2).
SD Codified L § 58-34-53 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 34 - Reciprocal Insurers|Section 58-34-53 - Determination of financial condition--Rules applied by director.

58-34-53. Determination of financial condition--Rules applied by director.In determining the financial condition of a reciprocal insurer the director shall apply the rules set forth in §§58-34-54 to 58-34-60, inclusive. Source: SL 1966, ch 111, ch 19, §18.
SD Codified L § 58-34-54 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 34 - Reciprocal Insurers|Section 58-34-54 - Premium deposits as assets.

58-34-54. Premium deposits as assets.All premium deposits delinquent less than ninety days shall be allowed as assets. Source: SL 1966, ch 111, ch 19, §18 (4).
SD Codified L § 58-34-55 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 34 - Reciprocal Insurers|Section 58-34-55 - Surplus deposits--Allowance as assets.

58-34-55. Surplus deposits--Allowance as assets.The surplus deposits of subscribers shall be allowed as assets, except that any premium deposits delinquent for ninety days shall first be charged against such surplus deposit. Source: SL 1966, ch 111, ch 19, §18 (2).
SD Codified L § 58-34-56 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 34 - Reciprocal Insurers|Section 58-34-56 - Uncollected assessments not allowed as assets.

58-34-56. Uncollected assessments not allowed as assets.An assessment levied upon subscribers, and not collected, shall not be allowed as an asset. Source: SL 1966, ch 111, ch 19, §18 (5).
SD Codified L § 58-34-57 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 34 - Reciprocal Insurers|Section 58-34-57 - Contingent liability of subscribers not allowed as asset.

58-34-57. Contingent liability of subscribers not allowed as asset.The contingent liability of subscribers shall not be allowed as an asset. Source: SL 1966, ch 111, ch 19, §18 (6).
SD Codified L § 58-34-58 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 34 - Reciprocal Insurers|Section 58-34-58 - Reserves charged as liabilities.

58-34-58. Reserves charged as liabilities.The director shall charge as liabilities the same reserves as are required of incorporated insurers issuing nonassessable policies on a reserve basis. Source: SL 1966, ch 111, ch 19, §18 (1).
SD Codified L § 58-34-59 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 34 - Reciprocal Insurers|Section 58-34-59 - Computation of reserves.

58-34-59. Computation of reserves.The computation of reserves shall be based upon premium deposits other than membership fees and without any deduction for expenses and the compensation of the attorney. Source: SL 1966, ch 111, ch 19, §18 (7).
SD Codified L § 58-34-60 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 34 - Reciprocal Insurers|Section 58-34-60 - Surplus deposits of subscribers not a liability.

58-34-60. Surplus deposits of subscribers not a liability.The surplus deposits of subscribers shall not be charged as a liability. Source: SL 1966, ch 111, ch 19, §18 (3).
SD Codified L § 58-34-61 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 34 - Reciprocal Insurers|Section 58-34-61 - Merger or conversion prohibited.

58-34-61. Merger or conversion prohibited.A domestic reciprocal insurer shall not merge with another reciprocal insurer or be converted to a stock or mutual insurer. Source: SL 1966, ch 111, ch 19, §29.
SD Codified L § 58-34-62 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 34 - Reciprocal Insurers|Section 58-34-62 - Impairment of surplus--Deficiency to be made up.

58-34-62. Impairment of surplus--Deficiency to be made up.If the assets of a reciprocal insurer are at any time insufficient to discharge its liabilities, other than any liability on account of funds contributed by the attorney or others, and to maintain the required surplus, its attorney shall forthwith make up the deficiency or levy an assessment upon the subscribers for the amount needed to make up the deficiency; but subject to the limitation set forth in the power of attorney or policy. Source: SL 1966, ch 111, ch 19, §30 (1).
SD Codified L § 58-34-63 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 34 - Reciprocal Insurers|Section 58-34-63 - Failure to make up deficiency--Insurer deemed insolvent.

58-34-63. Failure to make up deficiency--Insurer deemed insolvent.If the attorney fails to make up the deficiency described in §58-34-62 or to make the assessment within thirty days after the director orders him to do so, or if the deficiency is not fully made up within sixty days after the date the assessment was made, the insurer shall be deemed insolvent and shall be proceeded against as authorized by this title. Source: SL 1966, ch 111, ch 19, §30 (2).
SD Codified L § 58-34-64 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 34 - Reciprocal Insurers|Section 58-34-64 - Liquidation of insurer ordered--Levy of assessment against subscribers.

58-34-64. Liquidation of insurer ordered--Levy of assessment against subscribers.If liquidation of a reciprocal insurer is ordered, an assessment shall be levied upon the subscribers for such an amount, subject to limits as provided by this chapter, as the director determines to be necessary to discharge all liabilities of the insurer, exclusive of any funds contributed by the attorney or other persons, but including the reasonable cost of the liquidation. Source: SL 1966, ch 111, ch 19, §30 (3).