South Dakota § 58-5A-63 - Transactions or contracts entered into without approval--Cease and desist order by director.
Full text of South Dakota South Dakota Codified Laws § 58-5A-63 — Transactions or contracts entered into without approval--Cease and desist order by director., with citation guidance and answers to common questions.
§ 58-5A-63. Transactions or contracts entered into without approval--Cease and desist order by director.
If any insurer subject to this chapter or any director, officer, employee, or agent has engaged in any transaction or entered into a contract which is subject to §§ 58-5A-32, 58-5A-34, 58-5A-35, 58-5A-56, 58-5A-58, and 58-5A-59 and which would not have been approved had approval been requested, the director may order the insurer to cease and desist immediately any further activity under that transaction or contract. After notice and hearing, the director may also order the insurer to void any contracts and restore the status quo if the action is in the best interest of the policyholders, creditors, or the public.
Source: SL 1992, ch 341, § 30.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 58-5A-63
What does South Dakota Codified Laws § 58-5A-63 cover?
Section 58-5A-63 ("Transactions or contracts entered into without approval--Cease and desist order by director.") 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 § 58-5A-63?
A common citation format is "South Dakota Codified Laws § 58-5A-63" (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 § 58-5A-63 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.