In addition to surplus deposited and thereafter to be maintained as shown in columns (g) and (h) of the schedule in § 58-5-21, the insurer when first authorized must have on hand surplus funds, which it can thereafter expend in the conduct of its business, in amount not less than fifty percent of the deposited and maintained surplus required of it under the said schedule.
S.D. Codified Laws § 58-5-22
Expendable surplus funds required of domestic mutual insurer
Source: SL 1966, ch 111, ch 16, § 9.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.