Section 58-6-25 - Additional types of insurance--Request for authority to transact within three yearsafter issuance of initial certificate--Basic surplus or additional surplus required. - South Dakota Statutes

58-6-25. Additional types of insurance--Request for authority to transact within three years after issuance of initial certificate--Basic surplus or additional surplus required. If within three years after date of its initial certificate of authority in this state such an insurer requests authority to transact an additional kind or kinds of insurance, it shall not be so authorized unless it then possesses basic surplus or additional surplus in such an amount as would be required under § 58-6-23 for an original certificate of authority covering all the kinds of insurance the insurer then proposes to transact.

Source: SL 1966, ch 111, ch 3, § 10 (3).