Section 58-5-13 - Deposit by incorporators of mutual insurer in lieu of bond--Amount. - South Dakota Statutes

58-5-13. Deposit by incorporators of mutual insurer in lieu of bond--Amount. In lieu of such bond, such incorporators may deposit with the director twenty-five thousand dollars or United States government bonds, negotiable and payable to the bearer, with a market value at all times of not less than twenty-five thousand dollars, to be held in trust upon the same conditions as required for such bond.

Source: SL 1966, ch 111, ch 16, § 10 (2).