South Dakota § 58-6-23 - Paid-in capital and surplus requirements for certificate of authority.
Full text of South Dakota South Dakota Codified Laws § 58-6-23 — Paid-in capital and surplus requirements for certificate of authority., with citation guidance and answers to common questions.
§ 58-6-23. Paid-in capital and surplus requirements for certificate of authority.
To qualify for authority to transact any one kind of insurance or combination of kinds of insurance as shown below, a foreign insurer, or a domestic stock insurer applying for its original certificate of authority in this state, or any insurer reapplying for a certificate of authority in this state after having withdrawn from this state for any cause, shall possess and thereafter maintain unimpaired basic paid-in capital stock, if a stock insurer, or unimpaired basic surplus, if a foreign mutual insurer or foreign reciprocal insurer, and shall possess when first so authorized additional funds in surplus as follows:
Kind or Kinds of
Insurance
Basic Capital
or Basic Surplus
Additional
Surplus
Life
Domestic stock insurers
$200,000
$300,000
Foreign insurers
300,000
350,000
Health
Domestic stock insurers
200,000
300,000
Foreign insurers
300,000
350,000
Life and Health
Domestic stock insurers
400,000
400,000
Foreign insurers
400,000
525,000
Property
200,000
300,000
Casualty
Without Workers' Compensation
200,000
300,000
With Workers' Compensation
300,000
350,000
Marine and Transportation
200,000
300,000
Surety
200,000
300,000
Title
200,000
300,000
Multiple lines
400,000
400,000
Source: SL 1966, ch 111, ch 3, § 10 (1); SL 1967, ch 129, § 1.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 58-6-23
What does South Dakota Codified Laws § 58-6-23 cover?
Section 58-6-23 ("Paid-in capital and surplus requirements for certificate of authority.") 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 § 58-6-23?
A common citation format is "South Dakota Codified Laws § 58-6-23" (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 § 58-6-23 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.