South Dakota Codified Laws 58-11-11. Charter and bylaws, inclusion as part of contract of insurance–Subscriber’sagreement or power of attorney of a reciprocal insurer as part of contract
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No policy shall contain any provision purporting to make any portion of the charter, bylaws or other constituent document of the insurer, other than the subscriber’s agreement or power of attorney of a reciprocal insurer, a part of the contract unless such portion is set forth in full in the policy. Any policy provision in violation of this section shall be invalid.
Terms Used In South Dakota Codified Laws 58-11-11
- Contract: A legal written agreement that becomes binding when signed.
- Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
Source: SL 1966, ch 111, ch 22, § 19.