58-20-39. Self-insurance association not an insurance company.
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/sd/title-58/chapter-58-20/58-20-39·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Notwithstanding any other provision of law to the contrary, any association organized pursuant to §§ 58-20-25 to 58-20-40 , inclusive, is not an insurance company or insurer under the laws of this state; any agreement forming an association does not constitute insurance or the conduct of an insurance business; and no association organized pursuant to §§ 58-20-25 to 58-20-40 , inclusive, may be a member of the South Dakota Insurance Guaranty Association.