58-35-23Filing of bylaws--Disapproval by director.

The insurer shall promptly file with the director two certified copies of its bylaws and all amendments thereto. The director at the time of filing or at any time thereafter may disapprove any bylaw provision deemed by him to be unlawful, unreasonable, inadequate, unfair, or detrimental to the proper interests or protection of the insurer's members or any class thereof.

Source: SL 1966, ch 111, ch 17, § 14 (2); SL 1993, ch 369, § 5.