South Dakota Codified Laws 58-34-8. Bond of attorney in fact–Filing with and approval by director
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Concurrently with the filing of the application provided for in § 58-34-7, the attorney of a domestic reciprocal insurer shall file with the director a bond in favor of the State of South Dakota for the benefit of all persons damaged as a result of a breach of the conditions of his bond as set forth in § 58-34-9. The bond shall be executed by the attorney and by an authorized corporate surety, and shall be subject to the director’s approval.
Terms Used In South Dakota Codified Laws 58-34-8
- Attorney: as used in this chapter , refers to the attorney in fact of a reciprocal insurer. See South Dakota Codified Laws 58-34-3
- State: when used in context signifying a jurisdiction other than the State of South Dakota, a state, the District of Columbia, a territory, commonwealth, or possession of the United States of America, or a province of the Dominion of Canada. See South Dakota Codified Laws 58-1-2
Source: SL 1966, ch 111, ch 19, § 12 (1).