S.D. Codified Laws § 58-5A-77

Current through the 2024 Legislative Session

Section 58-5A-77 - Dividends paid from earned surplus-Exclusions-Promulgation of rules for ordinary dividends

Insurers subject to this chapter may only pay dividends from earned surplus excluding surplus arising from unrealized capital gains or revaluation of assets. The director may promulgate rules pursuant to chapter 1-26 covering requirements for ordinary dividends including those for approval or disapproval of ordinary dividends.

SDCL 58-5A-77

SL 1993, ch 359, § 3.