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Statutes > South Dakota Laws > Title 58 - INSURANCE > Chapter 05 - Organization And General Powers Of Insurers > Section 58-5-6 - Incorporators--Number and qualifications.

STATE STATUTES & CODES

SOUTH DAKOTA STATUTES AND CODES

Section 58-5-6 - Incorporators--Number and qualifications.

58-5-6. Incorporators--Number and qualifications. Five or more individuals may incorporate as a stock insurer; ten or more individuals may incorporate as a mutual insurer. The incorporators shall be citizens of the United States, at least twenty-one years of age, and a majority of the incorporators shall be residents of this state.

Source: SL 1966, ch 111, ch 16, § 6 (2).

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