<html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 58-39-7 - Issuance of license--Matters considered by director. </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2077055Normal { text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2077055SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2077055CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2077055Normal-000000 { text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2077055DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2077055Normal-000001 { margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.s2077055000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2077055SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2077055SCL-000003 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } body { text-decoration-skip-ink: none; } </style></head><body><div><p dir="ltr" class="s2077055Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=58-39-7"><span class="s2077055SENU">58-39-7</span></a><span xml:space="preserve" class="s2077055SENU">. </span><span class="s2077055CL">Issuance of license--Matters considered by director.</span></p><p dir="ltr" class="s2077055Normal-000000"><span class="s2077055DefaultParagraphFont">The director shall issue license upon being satisfied on the following points:</span></p><p dir="ltr" class="s2077055Normal-000001"><span class="s2077055DefaultParagraphFont">(1)    That the applicant is established as a bona fide nonprofit dental service corporation;</span></p><p dir="ltr" class="s2077055Normal-000001"><span class="s2077055DefaultParagraphFont">(2)    That the contracts between the applicant and the participating dentists obligate each dentist to render service to which each subscriber may be entitled under the terms and conditions of the contract issued to the subscriber;</span></p><p dir="ltr" class="s2077055Normal-000001"><span class="s2077055DefaultParagraphFont">(3)    That the rates to be charged and the benefits to be provided are fair and reasonable;</span></p><p dir="ltr" class="s2077055Normal-000001"><span class="s2077055DefaultParagraphFont">(4)    That the amounts provided as working capital of the corporation are repayable only out of earned income paid and payable for operating expenses, dentist expenses, and such reserve as the director may deem adequate; and</span></p><p dir="ltr" class="s2077055Normal-000001"><span class="s2077055DefaultParagraphFont">(5)    That the amount of money actually available for working capital be sufficient to carry all operating expenses for a reasonable period of time from the date of the issuance of the certificate.</span></p><p dir="ltr" class="s2077055Normal"><span xml:space="preserve" class="s2077055000002"> </span></p><p dir="ltr" class="s2077055Normal"><span class="s2077055SCL">Source:</span><span xml:space="preserve" class="s2077055SCL-000003"> SL 1966, ch 111, ch 30, § 6.</span></p></div></body></html>