# S.D. Codified Laws § 58-29C-45: Purpose of chapter--Creation of association

> South Dakota · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_SD_T58_C29C_S58-29C-45

## Section

- **Citation:** S.D. Codified Laws § 58-29C-45
- **Heading:** Purpose of chapter--Creation of association
- **Jurisdiction:** South Dakota
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** SD Code / Title 58 / Chapter 29C / Section 58-29C-45

## Text

A. The purpose of this chapter is to protect, subject to certain limitations, the persons specified in subpart A of § 58-29C-46 against failure in the performance of contractual obligations, under life, health, and annuity policies, plans, or contracts specified in subpart B of § 58-29C-46 , because of the impairment or insolvency of the member insurer that issued the policies, plans, or contracts.

B. To provide this protection, an association of member insurers is organized to pay benefits and to continue coverages as limited by this chapter, and members of the association are subject to assessment to provide funds to carry out the purpose of this chapter.

Source: SL 2003, ch 252, § 2; SL 2020, ch 210, § 1.

## Nearby sections

- [S.D. Codified Laws § 58-29C-44 Short title](https://www.frixlaw.com/law-library/statutes/STATE_SD_T58_C29C_S58-29C-44.md)
- [S.D. Codified Laws § 58-29C-45 Purpose of chapter--Creation of association](https://www.frixlaw.com/law-library/statutes/STATE_SD_T58_C29C_S58-29C-45.md)
- [S.D. Codified Laws § 58-29C-46 Persons provided with coverage--Policies and portions of policies not covered](https://www.frixlaw.com/law-library/statutes/STATE_SD_T58_C29C_S58-29C-46.md)
- [S.D. Codified Laws § 58-29C-47 Construction of chapter](https://www.frixlaw.com/law-library/statutes/STATE_SD_T58_C29C_S58-29C-47.md)
- [S.D. Codified Laws § 58-29C-48 Definitions](https://www.frixlaw.com/law-library/statutes/STATE_SD_T58_C29C_S58-29C-48.md)
- [S.D. Codified Laws § 58-29C-49 Continuation of association--Membership--Function and organization--Accounts--Supervision--Meetings](https://www.frixlaw.com/law-library/statutes/STATE_SD_T58_C29C_S58-29C-49.md)
- [S.D. Codified Laws § 58-29C-50 Board of directors--Appointment and term--Vacancies--Compensation](https://www.frixlaw.com/law-library/statutes/STATE_SD_T58_C29C_S58-29C-50.md)
- [S.D. Codified Laws § 58-29C-51 Impaired or insolvent member--Actions authorized](https://www.frixlaw.com/law-library/statutes/STATE_SD_T58_C29C_S58-29C-51.md)
- [S.D. Codified Laws § 58-29C-52 Funding provided by assessment of members--Classification of assessments--Amounts of assessments--Abatements--Refunds](https://www.frixlaw.com/law-library/statutes/STATE_SD_T58_C29C_S58-29C-52.md)
- [S.D. Codified Laws § 58-29C-53 Plan of operation--Effective date--Requirements--Delegation of powers](https://www.frixlaw.com/law-library/statutes/STATE_SD_T58_C29C_S58-29C-53.md)
- [S.D. Codified Laws § 58-29C-54 Duties and powers of director](https://www.frixlaw.com/law-library/statutes/STATE_SD_T58_C29C_S58-29C-54.md)
- [S.D. Codified Laws § 58-29C-55 Detection and prevention of insurer insolvencies or impairments--Reports by board](https://www.frixlaw.com/law-library/statutes/STATE_SD_T58_C29C_S58-29C-55.md)
- [S.D. Codified Laws § 58-29C-56 Member assessment as offset against premium tax liability](https://www.frixlaw.com/law-library/statutes/STATE_SD_T58_C29C_S58-29C-56.md)
- [S.D. Codified Laws § 58-29C-57 Liability for unpaid assessment--Records of meetings--Association as creditor of impaired or insolvent insurer--Liquidation, rehabilitation, or conservation proceedings](https://www.frixlaw.com/law-library/statutes/STATE_SD_T58_C29C_S58-29C-57.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_SD_T58_C29C_S58-29C-45. Check the current official text before relying on it. Not legal advice.