When applying for an original certificate of authority, a county mutual insurer must be otherwise qualified therefor under this title, and it must have received acceptable applications from twenty-five persons for substantial insurance, aggregating at least one hundred thousand dollars; and such applicants must have given to the insurer the obligations referred to in § 58-35-41, or paid the premium required, subject to the insurer qualifying to transact insurance.
S.D. Codified Laws § 58-35-16
Qualifications of county mutual insurer for certificate of authority
Source: SL 1966, ch 111, ch 17, § 11 (1).
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.