South Dakota Codified Laws
Chapter 29C - Life And Health Insurance Guaranty Association
Section 58-29C-59 - Association's tax exemption status.

58-29C-59. Association's tax exemption status.
The association shall be exempt from payment of all fees and all taxes levied by this state or any of its subdivisions, except taxes levied on real property.

Source: SL 2003, ch 252, ยง16.

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Structure South Dakota Codified Laws

South Dakota Codified Laws

Title 58 - Insurance

Chapter 29C - Life And Health Insurance Guaranty Association

Section 58-29C-44 - Short title.

Section 58-29C-45 - Purpose of chapter--Creation of association.

Section 58-29C-46 - Persons provided with coverage--Policies and portions of policies not covered.

Section 58-29C-47 - Construction of chapter.

Section 58-29C-48 - Definitions.

Section 58-29C-49 - Continuation of association--Membership--Function and organization--Accounts--Supervision--Meetings.

Section 58-29C-50 - Board of directors--Appointment and term--Vacancies--Compensation.

Section 58-29C-51 - Impaired or insolvent member--Actions authorized.

Section 58-29C-52 - Funding provided by assessment of members--Classification of assessments--Amounts of assessments--Abatements--Refunds.

Section 58-29C-53 - Plan of operation--Effective date--Requirements--Delegation of powers.

Section 58-29C-54 - Duties and powers of director.

Section 58-29C-55 - Detection and prevention of insurer insolvencies or impairments--Reports by board.

Section 58-29C-56 - Member assessment as offset against premium tax liability.

Section 58-29C-57 - Liability for unpaid assessment--Records of meetings--Association as creditor of impaired or insolvent insurer--Liquidation, rehabilitation, or conservation proceedings.

Section 58-29C-58 - Association subject to regulation by director--Financial report.

Section 58-29C-59 - Association's tax exemption status.

Section 58-29C-60 - No liability for performance of powers and duties of association or its members.

Section 58-29C-61 - Stay of proceedings against insolvent insurer--Default judgment set aside.

Section 58-29C-62 - Use of existence of association for sales, solicitation, or inducement to purchase insurance prohibited--Summary document of purposes and limitations of chapter--Disclaimer.