South Dakota Codified Laws 58-5-36. Lien of mutual insurer for levy of assessment for contingent liability
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If approved by the director of insurance as being in the best interests of the insurer and its members an assessment pursuant to § 58-5-32 after notice under that section may be secured by placing a lien upon the cash surrender value and accumulated dividends of any life insurance policy held by the insurer to the credit of such member.
Terms Used In South Dakota Codified Laws 58-5-36
- Lien: A claim against real or personal property in satisfaction of a debt.
Source: SL 1966, ch 111, ch 16, § 30 (5).