The directors or officers of an insurer are liable in their individual capacity to the person sustaining an insured loss, if they willfully refuse or neglect to make an assessment and collect the obligations owing to the insurer in accordance with the provisions of this chapter.
S.D. Codified Laws § 58-35-50
Directors' and officers' liability for failure to pay claims
Source: SL 1966, ch 111, ch 17, § 31.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.