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§ 58-6-23 Paid-in capital and surplus requirements for certificate of authority.

SD Codified L § 58-6-23 (2019) (N/A)
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58-6-23. Paid-in capital and surplus requirements for certificate of authority. To qualify for authority to transact any one kind of insurance or combination of kinds of insurance as shown below, a foreign insurer, or a domestic stock insurer applying for its original certificate of authority in this state, or any insurer reapplying for a certificate of authority in this state after having withdrawn from this state for any cause, shall possess and thereafter maintain unimpaired basic paid-in capital stock, if a stock insurer, or unimpaired basic surplus, if a foreign mutual insurer or foreign reciprocal insurer, and shall possess when first so authorized additional funds in surplus as follows:

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§ 58-6-24 Determination of capital and surplus requirements for certificate of authority.