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§ 58-35-61 Policyholders to vote on merger plan--Notice of vote.

SD Codified L § 58-35-61 (2019) (N/A)
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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-1621.3, 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.

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§ 58-35-60 Merger of farm mutual insurers--Plan of merger.
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§ 58-35-62 Approval of plan of merger by majority of voters.