South Dakota Codified Laws
Chapter 37A - Fraternal Benefit Societies
Section 58-37A-12 - Nonprofit organization created by society.

58-37A-12. Nonprofit organization created by society.
A society may create, maintain, and operate, or may establish organizations to operate, not for profit institutions to further the purposes permitted by §58-37A-5. The institutions may furnish services free or at a reasonable charge. Any real or personal property owned, held or leased by the society for this purpose shall be reported in the annual statement required by §58-37A-26.
It is a Class 2 misdemeanor for a society to own or operate a funeral home or an undertaking establishment.

Source: SL 1990, ch 410, §12.

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Structure South Dakota Codified Laws

South Dakota Codified Laws

Title 58 - Insurance

Chapter 37A - Fraternal Benefit Societies

Section 58-37A-1 - Fraternal benefit society defined.

Section 58-37A-2 - Lodge system--Regular meetings--Lodges for children.

Section 58-37A-3 - Representative form of government determined.

Section 58-37A-4 - Definition of terms.

Section 58-37A-5 - Benefits and purposes of society--Power to adopt laws and rules for governing the society.

Section 58-37A-6 - Specification of laws or rules--Membership rights.

Section 58-37A-7 - Location of office and meetings--Official publication--Annual synopsis--Grievance procedures provided.

Section 58-37A-8 - Liability of officers and members of governing body--Indemnification and reimbursement--Insurance--Liability of noncompensated member.

Section 58-37A-9 - Provisions of laws may not be waived.

Section 58-37A-10 - Procedure for formation of a society--Transaction by unincorporated society is a misdemeanor.

Section 58-37A-11 - Amendments to society laws--Adoption--Filing--Printing as prima facie evidence.

Section 58-37A-12 - Nonprofit organization created by society.

Section 58-37A-13 - Reinsurance agreement--Ceding risks.

Section 58-37A-14 - Consolidation or merger.

Section 58-37A-15 - Conversion into life insurance company--Plan--Approval.

Section 58-37A-16 - Contractual benefits allowed.

Section 58-37A-17 - Beneficiary designations--Funeral benefits.

Section 58-37A-18 - Money or other benefits not attachable for individual debts.

Section 58-37A-19 - Benefit certificates.

Section 58-37A-20 - Basis for computing value of nonforfeiture benefits.

Section 58-37A-21 - Authorized investments.

Section 58-37A-22 - Permissible use of assets and special funds--Establishing separate accounts and issuing contracts.

Section 58-37A-23 - Exemption from other insurance laws.

Section 58-37A-24 - Exemption from certain taxes.

Section 58-37A-25 - Standards of valuation for certificates--Maintenance of excess reserves.

Section 58-37A-26 - Annual statement of affairs--Valuation of certificates--Filing requirements.

Section 58-37A-27 - License to transact business--Annual expiration and renewal--License fee--Copy of license as evidence.

Section 58-37A-28 - Examination of domestic, foreign, and alien societies--Requirements--Responsibility for expenses--Report of examination.

Section 58-37A-29 - Foreign or alien society--Qualifications and procedure for admission to transact business in state.

Section 58-37A-33 - Insurance producers--When license is required.

Section 58-37A-34 - Applicability of unfair trade prohibitions--Determination of membership requirements and to whom benefits offered.

Section 58-37A-35 - Appointment of director as attorney for service of process--Copy forwarded to secretary of society--Time for filing answer--Fee paid by plaintiff.

Section 58-37A-36 - Fraudulent statements, and soliciting membership in unlicensed societies as crimes.

Section 58-37A-37 - Judicial review of actions of director.

Section 58-37A-38 - Exempt societies--Allowance of compensation for procuring new members prohibited--Director to determine exemption--Exempt societies not subject to insurance laws.

Section 58-37A-38.1 - Inapplicability of subdivision 58-37A-38(2) to certain societies, orders, and associations.

Section 58-37A-39 - Application of other provisions.