Section 58-17E-21 - Deposit in lieu of surety bond. - South-dakota Statutes

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58-17E-21. Deposit in lieu of surety bond. In lieu of the bond required by § 58-17E-20, a registered discount medical plan organization may deposit and maintain deposited with the director, or at the discretion of the director, with any organization or trustee acceptable to the director through which a custodial or controlled account is utilized, cash, securities, or any combination of these or other measures that are acceptable to the director which at all times have a market value of not less than thirty-five thousand dollars. All income from the deposit is an asset of the discount medical plan organization.

Source: SL 2006, ch 257, § 21.

State Codes and Statutes

Statutes > South-dakota > Title-58 > Chapter-17e > Statute-58-17e-21

58-17E-21. Deposit in lieu of surety bond. In lieu of the bond required by § 58-17E-20, a registered discount medical plan organization may deposit and maintain deposited with the director, or at the discretion of the director, with any organization or trustee acceptable to the director through which a custodial or controlled account is utilized, cash, securities, or any combination of these or other measures that are acceptable to the director which at all times have a market value of not less than thirty-five thousand dollars. All income from the deposit is an asset of the discount medical plan organization.

Source: SL 2006, ch 257, § 21.

State Codes and Statutes

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State Codes and Statutes

Statutes > South-dakota > Title-58 > Chapter-17e > Statute-58-17e-21

58-17E-21. Deposit in lieu of surety bond. In lieu of the bond required by § 58-17E-20, a registered discount medical plan organization may deposit and maintain deposited with the director, or at the discretion of the director, with any organization or trustee acceptable to the director through which a custodial or controlled account is utilized, cash, securities, or any combination of these or other measures that are acceptable to the director which at all times have a market value of not less than thirty-five thousand dollars. All income from the deposit is an asset of the discount medical plan organization.

Source: SL 2006, ch 257, § 21.