Wherever, in any statutory provision, there is use of the word "member" as applying to a mutual and stock insurance company, the same shall be construed as meaning a participating policyholder of such company and shall have no connotation of membership in such company as when used with reference to mutual insurers.
S.D. Codified Laws § 58-5-107
Participating policyholder as member
Source: SL 1966, ch 111, ch 16, § 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.