The director may revoke or suspend the certificate of authority of an insurer which has declared or paid a dividend contrary to the general corporation laws of this state.
S.D. Codified Laws § 58-5-113
Illegal dividends--Revocation or suspension of certificate of authority
Source: SL 1966, ch 111, ch 16, § 33.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.