<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 61-5A-16 - Liability of surety on bond on failure of organization to pay. </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2077980Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2077980SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2077980CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2077980Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2077980DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2077980000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2077980SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2077980SCL-000002 { 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="s2077980Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=61-5A-16"><span class="s2077980SENU">61-5A-16</span></a><span xml:space="preserve" class="s2077980SENU">. </span><span class="s2077980CL">Liability of surety on bond on failure of organization to pay.</span></p><p dir="ltr" class="s2077980Normal-000000"><span xml:space="preserve" class="s2077980DefaultParagraphFont">Failure by any organization covered by a bond required by § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=61-5A-12"><span class="s2077980DefaultParagraphFont">61-5A-12</span></a><span xml:space="preserve" class="s2077980DefaultParagraphFont"> to pay the full amount of payments in lieu of contributions when due, together with any applicable interest and penalties provided for in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=61-5A-33"><span class="s2077980DefaultParagraphFont">61-5A-33</span></a><span class="s2077980DefaultParagraphFont">, shall render the surety liable on said bond to the extent of the bond, as though the surety was such organization.</span></p><p dir="ltr" class="s2077980Normal"><span xml:space="preserve" class="s2077980000001"> </span></p><p dir="ltr" class="s2077980Normal"><span class="s2077980SCL">Source:</span><span xml:space="preserve" class="s2077980SCL-000002"> SL 1971, ch 276, § 68.</span></p></div></body></html>