58-35-16. Qualifications of county mutual insurer for certificate of authority.
72 words·~1 min read·
/sd/title-58/chapter-58-35/58-35-16·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
When applying for an original certificate of authority, a county mutual insurer must be otherwise qualified therefor under this title, and it must have received acceptable applications from twenty - five persons for substantial insurance, aggregating at least one hundred thousand dollars; and such applicants must have given to the insurer the obligations referred to in § 58-35-41 , or paid the premium required, subject to the insurer qualifying to transact insurance.