Any domestic insurer which, prior to July 1, 1966, had been issuing all or part of its policies on a participating basis without authorization in its articles of incorporation, may continue to issue such policies.
S.D. Codified Laws § 58-5-105
Continued issuance of participating policies without authorization in articles
Source: SL 1966, ch 111, ch 16, § 32 (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.