58-35-27. Officers--Election--Term of office.
51 words·~1 min read·
/sd/title-58/chapter-58-35/58-35-27·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The board of directors of an insurer shall elect from their number a president and vice - president. The board shall also elect a secretary and treasurer or a secretary - treasurer of the insurer. Officers shall hold their offices for one year, and until their successors are elected and qualified.