South Dakota § 58-34-46 - Nonassessable policies--Authorization for issuance--Extinguishment of contingent liability.
Full text of South Dakota South Dakota Codified Laws § 58-34-46 — Nonassessable policies--Authorization for issuance--Extinguishment of contingent liability., with citation guidance and answers to common questions.
§ 58-34-46. Nonassessable policies--Authorization for issuance--Extinguishment of contingent liability.
If a reciprocal insurer has a surplus of assets over all liabilities at least equal to the minimum capital stock required of a domestic stock insurer authorized to transact like kinds of insurance, upon application of the attorney and as approved by the subscribers' advisory committee, the director shall issue his certificate authorizing the insurer to extinguish the contingent liability of subscribers under its policies then in force in this state, and to omit provisions imposing contingent liability in all policies delivered or issued for delivery in this state for so long as all such surplus remains unimpaired.
Source: SL 1966, ch 111, ch 19, § 26 (1).
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 58-34-46
What does South Dakota Codified Laws § 58-34-46 cover?
Section 58-34-46 ("Nonassessable policies--Authorization for issuance--Extinguishment of contingent liability.") is part of the South Dakota Codified Laws, the codified statutory law of South Dakota. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite South Dakota § 58-34-46?
A common citation format is "South Dakota Codified Laws § 58-34-46" (South Dakota). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of South Dakota law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the South Dakota official source linked on this page or consult a licensed South Dakota attorney.
How does South Dakota § 58-34-46 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in South Dakota can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in South Dakota.