The board of directors of an insurer shall elect from their number a president and vice-president. The board shall also elect a secretary and treasurer or a secretary-treasurer of the insurer. Officers shall hold their offices for one year, and until their successors are elected and qualified.
S.D. Codified Laws § 58-35-27
Officers--Election--Term of office
Source: SL 1966, ch 111, ch 17, § 19.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.