58-36-1
Certificate not to be issued for assessment life or health insurance--Transaction of
business as misdemeanor.
58-36-2 to 58-36-44.
Repealed.
58-36-45
Mutual property insurance association maintained by members of church--Risks
covered--Conduct of business--License not required.
58-36-46
Validation of past actions of religious society mutual.
58-36-1. Certificate not to be issued for assessment life or health insurance--Transaction of business as misdemeanor.
No certificate of authority shall, after June 30, 1966, be issued to any insurer, organized upon the mutual assessment, cooperative, or natural premium plan for the purpose of writing assessment life, or health insurance. It is a Class 2 misdemeanor for any such insurer to transact business in South Dakota.
Source: SL 1966, ch 111, ch 18, § 1 (1); SL 1978, ch 359, § 7.
58-36-45. Mutual property insurance association maintained by members of church--Risks covered--Conduct of business--License not required.
The members of any one church or of any one religious denomination may maintain for the exclusive benefit of their members, an association for the mutual insurance of the property of its members against loss or damage by fire, lightning, storm, or hail, or all of them. Any such company, whether heretofore or hereafter organized, may also if specified in its articles of incorporation and bylaws, insure, in connection with fire and lightning policies, against loss or damage caused by smoke, explosion, riot, riot attending a strike, aircraft and vehicles, vandalism, theft, or other risk or risks. Such an association shall furnish no insurance except on property of an actual member of such church or denomination. It may conduct business upon the plan and method adopted by it, satisfactory to the director, and shall not be required to be licensed by or report to the director of insurance.
Source: SDC 1939, § 31.2919; SL 1951, ch 170, § 11; SL 1955, ch 119; repealed SL 1966, ch 111, § 5; re-enacted SL 1978, ch 366, § 1.
58-36-46. Validation of past actions of religious society mutual.
All actions of any religious society mutual which was organized pursuant to § 31.2919 of the 1960 Supplement to the South Dakota Code of 1939, are valid despite the repeal of the section.
Source: SL 1978, ch 366, § 2.
