58-13-1. Maximum single risk assumed.
No insurer shall retain any risk on any one subject of insurance, whether located or to be performed in this state or elsewhere, in an amount exceeding ten percent of its surplus to policyholders.
Source: SL 1966, ch 111, ch 4, ยง11 (1).
Structure South Dakota Codified Laws
Chapter 13 - Limit Of Risk Insured
Section 58-13-1 - Maximum single risk assumed.
Section 58-13-2 - Subject of insurance defined.
Section 58-13-3 - Surplus to policyholders defined.
Section 58-13-4 - Deduction for reinsurance or cosuretyship.
Section 58-13-5 - Chapter inapplicable when maximum possible loss not ascertainable.