Failure by any organization covered by a bond required by § 61-5A-12 to pay the full amount of payments in lieu of contributions when due, together with any applicable interest and penalties provided for in § 61-5A-33, shall render the surety liable on said bond to the extent of the bond, as though the surety was such organization.
S.D. Codified Laws § 61-5A-16
Liability of surety on bond on failure of organization to pay
Source: SL 1971, ch 276, § 68.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.