# S.D. Codified Laws § 58-29C-49: Continuation of association--Membership--Function and organization--Accounts--Supervision--Meetings

> South Dakota · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_SD_T58_C29C_S58-29C-49

## Section

- **Citation:** S.D. Codified Laws § 58-29C-49
- **Heading:** Continuation of association--Membership--Function and organization--Accounts--Supervision--Meetings
- **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-49

## Text

A. There is hereby continued the nonprofit legal entity known as the South Dakota Life and Health Insurance Guaranty Association as created by former § 58-29C-1 . All member insurers shall be and remain members of the association as a condition of their authority to transact insurance in this state. The association shall perform its functions under the plan of operation established and approved under § 58-29C-53 and shall exercise its powers through a board of directors established under § 58-29C-50 . For purposes of administration and assessment, the association shall maintain two accounts:

(1) The life insurance and annuity account which includes the following subaccounts:

(a) Life insurance account; and

(b) Annuity account; and

(2) The health insurance account.

B. The association shall come under the immediate supervision of the director and shall be subject to the applicable provisions of the insurance laws of this state. Meetings or records of the association may be opened to the public upon majority vote of the board of directors of the association.

Source: SL 2003, ch 252, § 6; SL 2013, ch 252, § 3.

## 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-49. Check the current official text before relying on it. Not legal advice.