State statute · South Dakota

Organization and General Powers of Insurers

South Dakota Codified Laws Title 58, Chapter 58-5

Publisher: sdlegislature.gov
Edition: South Dakota Codified Laws
Last checked: 2026-09-25
Status: SD statutes, public domain

Edition and licensing notes

Edition. South Dakota Codified Laws (SDLRC official posting), retrieved 2026-09-25

Status. SD statutes, public domain (state government edict).

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What this document is

South Dakota Codified Laws Title 58, Chapter 58-5 - Organization and General Powers of Insurers is a state statute published by sdlegislature.gov. It is one of the South Dakota documents that insurance license exam questions are written from, including south dakota property & casualty practice questions. This page summarizes it and points to the official version, which is the text to rely on.

Sections cited in practice questions

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S.D. Codified Laws § 58-5-3 (Mutual insurer defined)
“A "mutual" insurer is an insurance corporation without capital stock, owned by its policyholders collectively, who have the right to vote in the election of its directors.”
S.D. Codified Laws § 58-5-8 (Articles of incorporation delivered to director with filing fees--Examination and approval by attorney general, return to director)
“The incorporators of a proposed domestic insurer shall deliver the original and two executed copies of the articles of incorporation to the director of the Division of Insurance together with the filing fees therefor specified in § 58-2-29. The director shall submit the same to the attorney general...”
SDCL 58-5-61 (Pecuniary interest of officer, director, committee member, or employee of domestic insurer in transactions with insurer prohibited--Misdemeanor)
“Any officer or director, or any member of any committee or an employee of a domestic insurer who is charged with the duty of investing or handling the insurer's funds: (1) Shall not deposit or invest such funds except in the insurer's corporate name; (2) Shall not borrow the funds of such insurer;...”

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South Dakota Property & Casualty practice test

Questions about this source

South Dakota Codified Laws Title 58, Chapter 58-5 - Organization and General Powers of Insurers is a state statute published by sdlegislature.gov. Edition: South Dakota Codified Laws (SDLRC official posting), retrieved 2026-09-25.

No. This page summarizes the document and links to the official version. Always rely on the text published by sdlegislature.gov for the current law.

Practice questions for South Dakota Property & Casualty cite this document.

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