South Dakota § 58-5-138 - Conversion of mutual to stock insurer restricted.
Full text of South Dakota South Dakota Codified Laws § 58-5-138 — Conversion of mutual to stock insurer restricted., with citation guidance and answers to common questions.
§ 58-5-138. Conversion of mutual to stock insurer restricted.
No domestic mutual insurer in this state may reorganize or convert into a corporation with capital stock unless the reorganization or conversion plan provides each member of the mutual insurer with cash or other valuable consideration for the fair value of the member's equity in the company as determined under a formula approved by the director of the Division of Insurance and the secretary of labor and regulation.
Source: SL 1966, ch 111, ch 16, § 4; SL 1984, ch 325, § 1; SL 2018, ch 278, § 1.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 58-5-138
What does South Dakota Codified Laws § 58-5-138 cover?
Section 58-5-138 ("Conversion of mutual to stock insurer restricted.") 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 § 58-5-138?
A common citation format is "South Dakota Codified Laws § 58-5-138" (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 § 58-5-138 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.