58-29A-76. Administrative assessments for operating expenses.
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/sd/title-58/chapter-58-29/58-29a-76·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
In addition to any other assessments authorized by this chapter, the association may assess each member insurer an administrative assessment not to exceed five hundred dollars per annum. The administrative assessment shall be made for the purpose of paying operating expenses of the association and its employees not directly attributable to any particular insolvency or insolvent insurer, and the administrative assessment may not be on a pro rata basis. The assessments are due not less than thirty days after prior written notice to the member insurer and shall accrue interest at ten percent per annum on and after the due date.