South Dakota § 58-35-40 - Assessment plan insurance--Levy of assessments before or after liability incurred--Collection of initial amount before effective date of insurance.
Full text of South Dakota South Dakota Codified Laws § 58-35-40 — Assessment plan insurance--Levy of assessments before or after liability incurred--Collection of initial amount before effective date of insurance., with citation guidance and answers to common questions.
§ 58-35-40. Assessment plan insurance--Levy of assessments before or after liability incurred--Collection of initial amount before effective date of insurance.
If transacting business on the assessment plan, the insurer will depend for the payment of losses and expenses principally upon assessments levied upon members either before or after such losses or expenses have been incurred. This provision shall not be construed to prevent any such insurer from collecting from each member such initial amount as it may deem proper on or before the effective date of the member's insurance; nor to prohibit the accumulation of surplus or unallocated funds.
Source: SL 1966, ch 111, ch 17, § 6 (3).
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 58-35-40
What does South Dakota Codified Laws § 58-35-40 cover?
Section 58-35-40 ("Assessment plan insurance--Levy of assessments before or after liability incurred--Collection of initial amount before effective date of insurance.") 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 § 58-35-40?
A common citation format is "South Dakota Codified Laws § 58-35-40" (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 § 58-35-40 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.