Insurers subject to this chapter may only pay dividends from earned surplus excluding surplus arising from unrealized capital gains or revaluation of assets. The director may promulgate rules pursuant to chapter 1-26 covering requirements for ordinary dividends including those for approval or disapproval of ordinary dividends.
S.D. Codified Laws § 58-5A-77
Dividends paid from earned surplus--Exclusions--Promulgation of rules for ordinary dividends
Source: SL 1993, ch 359, § 3.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.