Section 58-18-91 - Suspension or revocation of authorization of multiple employer trust--Action in lieu of suspension or revocation. - South-dakota Statutes

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Statutes > South-dakota > Title-58 > Chapter-18 > Statute-58-18-91

58-18-91. Suspension or revocation of authorization of multiple employer trust--Action in lieu of suspension or revocation. A multiple employer trust authorized by §§ 58-18-88 to 58-18-94, inclusive, and § 58-18B-59 may have its authorization suspended or revoked by the director for violating any provision of §§ 58-18-88 to 58-18-94, inclusive, and § 58-18B-59 or because its capital is impaired, and in either instance the director may take action in lieu of suspension or revocation as though the trust were an insurer as provided by § 58-4-28.1.

Source: SL 2005, ch 272, § 5.

State Codes and Statutes

Statutes > South-dakota > Title-58 > Chapter-18 > Statute-58-18-91

58-18-91. Suspension or revocation of authorization of multiple employer trust--Action in lieu of suspension or revocation. A multiple employer trust authorized by §§ 58-18-88 to 58-18-94, inclusive, and § 58-18B-59 may have its authorization suspended or revoked by the director for violating any provision of §§ 58-18-88 to 58-18-94, inclusive, and § 58-18B-59 or because its capital is impaired, and in either instance the director may take action in lieu of suspension or revocation as though the trust were an insurer as provided by § 58-4-28.1.

Source: SL 2005, ch 272, § 5.

State Codes and Statutes

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State Codes and Statutes

Statutes > South-dakota > Title-58 > Chapter-18 > Statute-58-18-91

58-18-91. Suspension or revocation of authorization of multiple employer trust--Action in lieu of suspension or revocation. A multiple employer trust authorized by §§ 58-18-88 to 58-18-94, inclusive, and § 58-18B-59 may have its authorization suspended or revoked by the director for violating any provision of §§ 58-18-88 to 58-18-94, inclusive, and § 58-18B-59 or because its capital is impaired, and in either instance the director may take action in lieu of suspension or revocation as though the trust were an insurer as provided by § 58-4-28.1.

Source: SL 2005, ch 272, § 5.