Each policyholder of a domestic mutual insurer, other than of a reinsurance contract, is a member of the insurer with all rights and obligations of such membership, and the policy shall so specify.
S.D. Codified Laws § 58-5-27
Membership of policyholders in domestic mutual insurer--Reinsurance contract excepted
Source: SL 1966, ch 111, ch 16, § 15 (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.