Section 58-5-138.1 - Compensation of officer, insurance producer, or employee of converting mutualinsurer prohibited. - South-dakota Statutes

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Statutes > South-dakota > Title-58 > Chapter-05 > Statute-58-5-138-1

58-5-138.1. Compensation of officer, insurance producer, or employee of converting mutual insurer prohibited. No director, officer, insurance producer, or employee of any mutual insurer party to a reorganization or conversion to a corporation with capital stock may receive any fee, commission, compensation, or other valuable consideration for that participation except as set forth in the reorganization or conversion plan.

Source: SL 1984, ch 325, § 2; SL 2001, ch 286, § 74.

State Codes and Statutes

Statutes > South-dakota > Title-58 > Chapter-05 > Statute-58-5-138-1

58-5-138.1. Compensation of officer, insurance producer, or employee of converting mutual insurer prohibited. No director, officer, insurance producer, or employee of any mutual insurer party to a reorganization or conversion to a corporation with capital stock may receive any fee, commission, compensation, or other valuable consideration for that participation except as set forth in the reorganization or conversion plan.

Source: SL 1984, ch 325, § 2; SL 2001, ch 286, § 74.

State Codes and Statutes

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State Codes and Statutes

Statutes > South-dakota > Title-58 > Chapter-05 > Statute-58-5-138-1

58-5-138.1. Compensation of officer, insurance producer, or employee of converting mutual insurer prohibited. No director, officer, insurance producer, or employee of any mutual insurer party to a reorganization or conversion to a corporation with capital stock may receive any fee, commission, compensation, or other valuable consideration for that participation except as set forth in the reorganization or conversion plan.

Source: SL 1984, ch 325, § 2; SL 2001, ch 286, § 74.