A medical and surgical plan corporation licensed under this chapter may establish and operate a nonprofit hospital service plan under the provisions of chapter 58-40. Such plan shall be governed by chapter 58-40, but is exempt from the provisions of § 58-40-4.

Terms Used In South Dakota Codified Laws 58-38-24

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.

Source: SL 1993, ch 374.

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