If approved by the director of insurance as being in the best interests of the insurer and its members an assessment pursuant to § 58-5-32 after notice under that section may be secured by placing a lien upon the cash surrender value and accumulated dividends of any life insurance policy held by the insurer to the credit of such member.
S.D. Codified Laws § 58-5-36
Lien of mutual insurer for levy of assessment for contingent liability
Source: SL 1966, ch 111, ch 16, § 30 (5).
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.