reglab/housing_qa huggingface dataset:
SD Codified L § 58-35-35 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 35 - Farm Mutual Insurers|Section 58-35-35 - Maximum amount of insurance on single risk.

58-35-35. Maximum amount of insurance on single risk.The maximum amount of insurance which an insurer shall retain on a single risk, after deduction of applicable reinsurance, shall not exceed ten percent of the admitted assets of the insurer or ten thousand dollars, whichever is the larger amount. Source: SL 1966, ch 111, ch 17, §4 (1).
SD Codified L § 58-35-36 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 35 - Farm Mutual Insurers|Section 58-35-36 - "Single risk" defined.

58-35-36. Single risk defined.For the purposes of §58-35-35, a "single risk" as to insurance against fire and hazards other than windstorm, earthquake, or other catastrophic perils, includes all properties insured by the same insurer which are reasonably susceptible to loss or damage from the same fire or the same occurrence of such other hazard insured against. Source: SL 1966, ch 111, ch 17, §4 (2).
SD Codified L § 58-35-37 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 35 - Farm Mutual Insurers|Section 58-35-37 - Cash premium or assessment plan for transacting business.

58-35-37. Cash premium or assessment plan for transacting business.An insurer may transact business on either a cash premium plan or on an assessment plan as provided for in its articles of incorporation or bylaws. Source: SL 1966, ch 111, ch 17, §6 (1).
SD Codified L § 58-35-38 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 35 - Farm Mutual Insurers|Section 58-35-38 - Cash premium plan--Collection of premiums.

58-35-38. Cash premium plan--Collection of premiums.If transacting business on the cash premium plan, the insurer shall collect from each member before or at the effective date of the member's insurance the premium in such amount as the insurer deems will be adequate to cover losses and expenses incurred during the term of such insurance, or for a period of one year from the inception date of the policy, if same be written for a longer period than one year. Source: SL 1966, ch 111, ch 17, §6 (2).
SD Codified L § 58-35-39 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 35 - Farm Mutual Insurers|Section 58-35-39 - Cash premium plan--Special assessment in case of inadequacy.

58-35-39. Cash premium plan--Special assessment in case of inadequacy.An insurer transacting business on the cash premium plan shall provide in its bylaws and policies for special assessment of its members if the cash premium charged is found to be inadequate to pay losses and expenses currently incurred. The bylaws shall provide that the amount which can be so assessed in any one policy year shall not be less than one nor more than six times the premium charged on each member's policy at the annual rate for a term of one year. Source: SL 1966, ch 111, ch 17, §6 (4).
SD Codified L § 58-35-40 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 35 - Farm Mutual Insurers|Section 58-35-40 - Assessment plan insurance--Levy of assessments before or after liability incurred--Collection of initial amount before effective date of insurance.

58-35-40. Assessment plan insurance--Levy of assessments before or after liability incurred--Collection of initial amount before effective date of insurance.If transacting business on the assessment plan, the insurer will depend for the payment of losses and expenses principally upon assessments levied upon members either before or after such losses or expenses have been incurred. This provision shall not be construed to prevent any such insurer from collecting from each member such initial amount as it may deem proper on or before the effective date of the member's insurance; nor to prohibit the accumulation of surplus or unallocated funds. Source: SL 1966, ch 111, ch 17, §6 (3).
SD Codified L § 58-35-41 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 35 - Farm Mutual Insurers|Section 58-35-41 - Application for insurance to be in writing--Advance cash payments.

58-35-41. Application for insurance to be in writing--Advance cash payments.An insurer shall require a written application from each person desiring insurance. If the insurer is transacting business on the assessment plan, the applicant shall at the time of application give his obligation to the insurer for the payment of losses and expenses as provided in the insurer's bylaws, and make such advance payment in cash as the insurer may require. Source: SL 1966, ch 111, ch 17, §26.
SD Codified L § 58-35-42 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 35 - Farm Mutual Insurers|Section 58-35-42 - Application and policy forms filed with director--Disapproval.

58-35-42. Application and policy forms filed with director--Disapproval.All forms of application for insurance and of policies proposed to be used by an insurer shall be filed with the director at least thirty days in advance of any such use. The director shall disapprove any such form found by him to be unlawful, illegible, or misleading. An insurer shall not use any such form after it has received the director's notice of disapproval setting forth the reasons therefor. Source: SL 1966, ch 111, ch 17, §27.
SD Codified L § 58-35-43 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 35 - Farm Mutual Insurers|Section 58-35-43 - Rates--Filing with director not required--Discrimination prohibited.

58-35-43. Rates--Filing with director not required--Discrimination prohibited.A farm mutual insurer is not required to file any of its insurance rates with the director. No such rate shall discriminate between subjects of insurance having substantially the same insuring, exposure, and underwriting characteristics. Source: SL 1966, ch 111, ch 17, §28.
SD Codified L § 58-35-44 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 35 - Farm Mutual Insurers|Section 58-35-44 - Reinsurance.

58-35-44. Reinsurance.A farm mutual insurer may cede reinsurance to any other farm mutual insurer authorized to insure the risks ceded and to other authorized property insurers or reinsurers, and may accept reinsurance from other farm mutual insurers. A farm mutual insurer may also reinsure with a reinsurer authorized pursuant to chapter 58-14. Source: SL 1966, ch 111, ch 17, §5; SL 1993, ch 371.
SD Codified L § 58-35-45 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 35 - Farm Mutual Insurers|Section 58-35-45 - Reinsurance corporation formed by insurers--Procedure.

58-35-45. Reinsurance corporation formed by insurers--Procedure.Any number, not less than five, of farm mutual insurers organized under this chapter may form a corporation for the purpose of reinsuring the risks of the members, on the mutual plan. The insurers proposing to form such reinsurance company shall file with the director a declaration of their intention to form such a corporation, together with proposed articles of incorporation, substantially in the manner and form provided by §§58-35-7 to 58-35-9, inclusive, which proposed articles of incorporation, and amendments thereof, shall be treated substantially in the manner and form provided by §§58-35-10 to 58-35-14, inclusive. The bylaws of such reinsurance company shall contain provisions for the government of such company and the conduct of its business substantially in the manner and form provided by §§58-35-22 and 58-35-23. Source: SL 1966, ch 111, ch 17, §32; SL 1976, ch 318.
SD Codified L § 58-35-46 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 35 - Farm Mutual Insurers|Section 58-35-46 - Risk limitation inapplicable to organization of county mutual insurers for reinsurance purposes.

58-35-46. Risk limitation inapplicable to organization of county mutual insurers for reinsurance purposes.The risk limitations set forth in §§58-35-35 and 58-35-36 shall not apply to reinsurance companies formed under §58-35-45. All reinsurance contracts of such reinsurer shall be submitted to the director for his approval, and he shall disapprove any reinsurance contracts which he finds would be contrary to the interests of the policyholders of the ceding insurers. Source: SL 1966, ch 111, ch 17, §32.
SD Codified L § 58-35-48 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 35 - Farm Mutual Insurers|Section 58-35-48 - Funds expended for educational purposes--Maximum amount--Statement in annual report.

58-35-48. Funds expended for educational purposes--Maximum amount--Statement in annual report.An insurer may spend earnings of the preceding year for educational purposes. A complete and itemized report of such expenditures shall be filed by the insurer as part of its annual report required under §58-35-54. Source: SL 1966, ch 111, ch 17, §24; SL 1993, ch 373.
SD Codified L § 58-35-49 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 35 - Farm Mutual Insurers|Section 58-35-49 - Claim for loss--Notice in writing--Arbitration.

58-35-49. Claim for loss--Notice in writing--Arbitration.Every member who shall sustain loss or damage for which the company is liable, shall immediately notify in writing the secretary, or in his absence the president, of the company specifying the property destroyed or damaged and the time and cause thereof. The secretary, or in his absence the president, of the company shall forthwith inspect and adjust the loss or cause it to be inspected and adjusted in such manner as may be provided by the bylaws. In case of the inability of the parties to agree upon the amount of such loss or damage, the claimant and the company shall each choose a disinterested party who shall constitute a board of arbitration to settle such loss, and in case the arbitrators cannot agree they shall choose a third person to act with them and such board of arbitration shall have power to administer oaths, examine witnesses, and determine all matters in dispute and the decision of such board shall be final unless an interested party thereto appeals to a court within sixty days thereafter. Source: SL 1966, ch 111, ch 17, §30.
SD Codified L § 58-35-50 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 35 - Farm Mutual Insurers|Section 58-35-50 - Directors' and officers' liability for failure to pay claims.

58-35-50. Directors' and officers' liability for failure to pay claims.The directors or officers of an insurer are liable in their individual capacity to the person sustaining an insured loss, if they willfully refuse or neglect to make an assessment and collect the obligations owing to the insurer in accordance with the provisions of this chapter. Source: SL 1966, ch 111, ch 17, §31.
SD Codified L § 58-35-54 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 35 - Farm Mutual Insurers|Section 58-35-54 - Annual statement of affairs--Contents and filing.

58-35-54. Annual statement of affairs--Contents and filing.The president and secretary of every insurer, on or before the first day of March of each year, shall prepare, affirm under oath, affix the corporate seal thereto, and file with the director, on forms furnished by the director, an annual statement as of December thirty-first of the preceding calendar year including:(1)The names of the president and secretary;(2)The date of the annual meeting;(3)The amount of insurance in force;(4)The number of members;(5)The number of assessments made during the year;(6)The amount paid in losses during the year;(7)The amount of the losses claimed and not paid, with the reason for nonpayment;(8)The number of members cancelled or nonrenewed during the year;(9)The number of new members admitted during the year;(10)The expenses during the year;(11)The amount of money on hand;(12)The amount and character of the insurer's assets;(13)The amount of the insurer's liabilities; and(14)Such other information as the director may require. Source: SL 1966, ch 111, ch 17, §21 (1); SL 2004, ch 297, §5.
SD Codified L § 58-35-55 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 35 - Farm Mutual Insurers|Section 58-35-55 - Failure to file annual statement--Suspension or revocation of certificate of authority.

58-35-55. Failure to file annual statement--Suspension or revocation of certificate of authority.The director may suspend or revoke the certificate of authority of any insurer failing to file its annual statement. Source: SL 1966, ch 111, ch 17, §21 (2).
SD Codified L § 58-35-56 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 35 - Farm Mutual Insurers|Section 58-35-56 - Annual statement--Presentation at meeting of members.

58-35-56. Annual statement--Presentation at meeting of members.The annual statement of the insurer, as required to be filed with the director under §58-35-54, shall be presented at the next annual meeting. Source: SL 1966, ch 111, ch 17, §16.
SD Codified L § 58-35-57 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 35 - Farm Mutual Insurers|Section 58-35-57 - Application of other provisions.

58-35-57. Application of other provisions.The following chapters and sections of this title apply to farm mutual insurers to the extent not inconsistent with the express provisions of this chapter and the reasonable implications of the express provisions:(1)Chapter 58-1. Definitions and General Provisions;(2)Chapter 58-2. Division of Insurance;(3)Chapter 58-3. Examination of Insurers and Insurance Producers;(4)Chapter 58-4. Enforcement Powers and Proceedings (except §58-4-7);(5)Chapter 58-4A. Insurance Fraud;(6)Sections 58-5-134 to 58-5-140, inclusive. Organization and General Powers of Insurers;(7)Chapter 58-10. Insurable Interest;(8)Chapter 58-11. Form and Contents of Insurance Policies;(9)Chapter 58-12. Insurance Claims and Benefits (except §58-12-3);(10)Chapter 58-17D. Standards for Utilization Review for Property and Casualty Insurers;(11)Chapter 58-33. Unfair Trade Practices;(12)Chapter 58-30. Insurance Producers;(13)Chapter 58-29B. Insurers Supervision, Rehabilitation and Liquidation;(14)Chapter 58-43. Independent Audit of Insurers (except §58-43-2). Source: SL 1966, ch 111, ch 17, §33; SL 1967, ch 129, §5; SL 1977, ch 417; SL 1979, ch 341, §14; SL 1991, ch 407, §1; SL 2001, ch 286, §216; SL 2001, ch 288, §1; SL 2003, ch 255, §1; SL 2008, ch 274, §1.
SD Codified L § 58-35-58 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 35 - Farm Mutual Insurers|Section 58-35-58 - Provisions exclusive.

58-35-58. Provisions exclusive.Nothing in the insurance laws of this state shall be deemed to apply to or govern either directly or indirectly domestic farm mutual insurers except as contained or referred to in this chapter. Source: SL 1966, ch 111, ch 17, §1 (3).
SD Codified L § 58-35-59 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 35 - Farm Mutual Insurers|Section 58-35-59 - Financial reporting standards.

58-35-59. Financial reporting standards.The financial reporting standards, procedures and accounting principles for farm mutuals are those set forth in the following National Association of Insurance Commissioners' manuals as amended as of December 31, 1993: Annual Statement Instructions, Property and Casualty; Examiner's Handbook; and Accounting Practices and Procedures Manual, Fire and Casualty Insurance Companies. The director may waive any standard, procedure, or accounting principle which the director determines is inapplicable to a farm mutual. The director shall establish a date by which the farm mutuals shall comply with financial reporting standards, procedures, and accounting principles or any amendment to them. The director may promulgate rules, pursuant to chapter 1-26, for the enforcement of this section. Source: SL 1991, ch 407, §2; SL 1993, ch 357, §6.
SD Codified L § 58-35-60 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 35 - Farm Mutual Insurers|Section 58-35-60 - Merger of farm mutual insurers--Plan of merger.

58-35-60. Merger of farm mutual insurers--Plan of merger.Any two or more farm mutual corporations authorized to transact business pursuant to this chapter may merge into one farm mutual corporation pursuant to a plan of merger as provided in this section and §§58-35-61 to 58-35-74, inclusive. The board of directors of each corporation, shall, by resolution adopted by each such board, approve a plan of merger setting forth:(1)A statement that the merger is advisable;(2)The names of the corporations proposing to merge, and the name of the corporation into which they propose to merge, to be known as the surviving corporation;(3)The terms and conditions of the proposed merger;(4)The names of the surviving corporation's first board of directors;(5)The surviving corporation's principal office;(6)The manner and basis of converting the assets and liabilities of each corporation into the assets, liabilities, or obligations or other securities of the surviving corporation or of any other corporation, or, in whole or in part, into cash or other property;(7)A statement of any changes in the articles of incorporation of the surviving corporation to be affected by the merger;(8)That the board of directors approves the merger of the corporation into the surviving corporation; and(9)Any other provisions with respect to the proposed merger that are necessary or desirable. Source: SL 1995, ch 293, §1.
SD Codified L § 58-35-61 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 35 - Farm Mutual Insurers|Section 58-35-61 - Policyholders to vote on merger plan--Notice of vote.

58-35-61. Policyholders to vote on merger plan--Notice of vote. Following the adoption of the resolution approving the plan of merger required by §58-35-60, a meeting of the policyholders of each of the corporations shall be held to vote upon the proposed merger plan. Written notice of the meeting of the policyholders shall be given to all policyholders, which may be either an annual or special meeting. Written notice shall be given to each policyholder of record whether or not entitled to vote at the meeting, not less than twenty days before the meeting, in the manner provided in §§47-1A-701 to 47-1A-747, inclusive, and §§47-1A-1601 to 47-1A-1620, inclusive, for the giving of notice of meetings of shareholders. Whether the meeting is an annual or special meeting, the notice shall state that the purpose or one of the purposes of the meeting is to consider the proposed plan of merger. A copy of the resolution passed by the board of directors shall be included in or enclosed with the notice. Source: SL 1995, ch 293, §2; SL 2005, ch 202, §26; SL 2021, ch 210, § 21.
SD Codified L § 58-35-62 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 35 - Farm Mutual Insurers|Section 58-35-62 - Approval of plan of merger by majority of voters.

58-35-62. Approval of plan of merger by majority of voters.At the meeting of the policyholders, the policyholders shall vote on the proposed plan of merger. The plan of merger is approved if the majority of the policyholders present at the meeting vote for the proposed plan of merger. No policyholder may vote by proxy. Source: SL 1995, ch 293, §3.
SD Codified L § 58-35-63 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 35 - Farm Mutual Insurers|Section 58-35-63 - Execution and acknowledgment of articles of merger--Contents of articles.

58-35-63. Execution and acknowledgment of articles of merger--Contents of articles.If the plan of merger is approved, an original and one exact or conforming copy of the articles of merger shall be executed by each corporation by the chairman of the board of directors of the corporation or by its president or by another of its officers. The articles shall be acknowledged and shall set forth:(1)The plan of merger;(2)The number of votes voted for and against the merger;(3)The terms and conditions of the proposed merger;(4)The names of the surviving corporation's first board of directors;(5)The surviving corporation's principal office;(6)The manner and basis of converting the assets and the liabilities of each corporation into assets, liabilities, obligations, or other securities of the surviving corporation or of any other corporation or, in whole or in part, into cash or other property. Source: SL 1995, ch 293, §4.
SD Codified L § 58-35-64 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 35 - Farm Mutual Insurers|Section 58-35-64 - Filing plan of merger and articles of merger--Approval by director--Reasons for denying hearing.

58-35-64. Filing plan of merger and articles of merger--Approval by director--Reasons for denying hearing.If two or more companies propose to merge under the provisions of §58-35-63 and their membership has approved the plan of merger, the plan of merger shall be filed with the director of the Division of Insurance, accompanied by the articles of merger, and a request for the approval of the plan of merger. The plan shall be approved by the director after a hearing on the plan within a reasonable time unless the director finds that the plan:(1)Is contrary to law;(2)Is inequitable to the policyholders of any domestic insurer involved; or(3)Would substantially reduce the security of and service to be rendered to the policyholders of the domestic insurer.The director shall review the plan of merger and may waive any hearing if the director finds the proposed merger does not prejudice the interests of the policyholders of the companies. Source: SL 1995, ch 293, §5.
SD Codified L § 58-35-65 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 35 - Farm Mutual Insurers|Section 58-35-65 - Notification of disapproval of plan.

58-35-65. Notification of disapproval of plan.If the director of the Division of Insurance does not approve any such plan and agreement, the director shall notify the corporations in writing, specifying the reasons. Source: SL 1995, ch 293, §6.
SD Codified L § 58-35-66 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 35 - Farm Mutual Insurers|Section 58-35-66 - Examination of articles of merger by attorney general--Submission to secretary of state.

58-35-66. Examination of articles of merger by attorney general--Submission to secretary of state.The director of the Division of Insurance, after approving the articles of merger, shall submit the proposed articles of merger to the attorney general for examination. If the attorney general finds that the articles of merger comply with the provisions of §§58-35-60 to 58-35-74, inclusive, and the constitution and laws of the United States and of this state, the attorney general shall endorse and return the proposed articles to the director. The director shall submit the original and two copies to the secretary of state for approval. Source: SL 1995, ch 293, §7.
SD Codified L § 58-35-67 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 35 - Farm Mutual Insurers|Section 58-35-67 - Approval of articles of merger by secretary of state--Endorsement--Filing--Certificate of merger.

58-35-67. Approval of articles of merger by secretary of state--Endorsement--Filing--Certificate of merger.Following the delivery of the articles of merger from the director of the Division of Insurance to the secretary of state, the secretary shall, on finding that the articles conform to law, if all required fees have been paid:(1)Endorse the word "filed" on the original and the copy and the month, day, and year of filing;(2)File the original in the secretary's office; and(3)Issue a certificate of merger to which the secretary shall affix the copy.The certificate of merger, together with a copy, shall be returned to the surviving corporation or its representative. Source: SL 1995, ch 293, §8.
SD Codified L § 58-35-68 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 35 - Farm Mutual Insurers|Section 58-35-68 - Merger effective upon issuance of certificate.

58-35-68. Merger effective upon issuance of certificate.Upon the issuance of the certificate of merger by the secretary of state, the merger is effective. Source: SL 1995, ch 293, §9.