South Dakota Codified Laws 58-37A-29. Foreign or alien society–Qualifications and procedure for admission totransact business in state
It is a Class 2 misdemeanor for any foreign or alien society to transact business in this state without a license issued by the director. Any foreign or alien society desiring admission to this state shall have the qualifications required of domestic societies organized under this chapter. Any foreign or alien society may be licensed to transact business in this state upon filing with the director:
(1) A duly certified copy of its articles of incorporation;
Attorney's Note
Under the South Dakota Laws, punishments for crimes depend on the classification. In the case of this section:| Class | Prison | Fine |
|---|---|---|
| Class 2 misdemeanor | up to 30 days | up to $500 |
Terms Used In South Dakota Codified Laws 58-37A-29
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- 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
- 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
(2) A copy of its bylaws, certified by its secretary or corresponding officer;
(3) A power of attorney to the director as prescribed in § 58-37A-35;
(4) A statement of its business under oath of its president and secretary or corresponding officers in a form prescribed by the director, verified by an examination made by the supervising insurance official of its home state or other state, territory, province, or country, satisfactory to the director;
(5) Certification from the proper official of its home state, territory, province, or country that the society is legally incorporated and licensed to transact business;
(6) Copies of its certificate forms; and
(7) Any other information as the director considers necessary;
and upon a showing that its assets are invested in accordance with the provisions of this chapter.
Source: SL 1990, ch 410, § 29.