# S.D. Codified Laws § 58-5A-3: Acquisition of control of or merger with domestic insurer--Information statement required--Approval by director required--Violation as misdemeanor

> South Dakota · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_SD_T58_C5A_S58-5A-3

## Section

- **Citation:** S.D. Codified Laws § 58-5A-3
- **Heading:** Acquisition of control of or merger with domestic insurer--Information statement required--Approval by director required--Violation as misdemeanor
- **Jurisdiction:** South Dakota
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** SD Code / Title 58 / Chapter 5A / Section 58-5A-3

## Text

No person other than the issuer may make a tender offer for or a request or invitation for tenders of, or enter into any agreement to exchange securities for, seek to acquire, or acquire, in the open market or otherwise, any voting security of a domestic insurer if, after the consummation thereof, such person would, directly or indirectly (or by conversion or by exercise of any right to acquire) be in control of such insurer, and no person may enter into an agreement to merge with or otherwise to acquire control of a domestic insurer unless, at the time any such offer, request, or invitation is made or any such agreement is entered into, or prior to the acquisition of such securities if no offer or agreement is involved, such person has filed with the director and has sent to such insurer, and such insurer has sent to its shareholders, a statement containing the information required by § 58-5A-4 and such offer, request, invitation, agreement, or acquisition has been approved by the director in the manner hereinafter prescribed.

A violation of this section is a Class 2 misdemeanor.

Source: SL 1972, ch 267, § 2; SL 1990, ch 158, § 20.

## Nearby sections

- [S.D. Codified Laws § 58-5A-1 Definitions](https://www.frixlaw.com/law-library/statutes/STATE_SD_T58_C5A_S58-5A-1.md)
- [S.D. Codified Laws § 58-5A-2 Domestic insurer defined](https://www.frixlaw.com/law-library/statutes/STATE_SD_T58_C5A_S58-5A-2.md)
- [S.D. Codified Laws § 58-5A-3 Acquisition of control of or merger with domestic insurer--Information statement required--Approval by director required--Violation as misdemeanor](https://www.frixlaw.com/law-library/statutes/STATE_SD_T58_C5A_S58-5A-3.md)
- [S.D. Codified Laws § 58-5A-3.1 Divestiture of controlling interest in domestic insurer--Notice to director and insurer](https://www.frixlaw.com/law-library/statutes/STATE_SD_T58_C5A_S58-5A-3.1.md)
- [S.D. Codified Laws § 58-5A-4 Contents of information statement--Violation as misdemeanor](https://www.frixlaw.com/law-library/statutes/STATE_SD_T58_C5A_S58-5A-4.md)
- [S.D. Codified Laws § 58-5A-5 Information statement required of partners or members of syndicate or group--Violation as misdemeanor](https://www.frixlaw.com/law-library/statutes/STATE_SD_T58_C5A_S58-5A-5.md)
- [S.D. Codified Laws § 58-5A-6 Information required of corporations, officers, directors and certain owners of voting securities--Violation as misdemeanor](https://www.frixlaw.com/law-library/statutes/STATE_SD_T58_C5A_S58-5A-6.md)
- [S.D. Codified Laws § 58-5A-7 Amendment of information statement--Violation as misdemeanor](https://www.frixlaw.com/law-library/statutes/STATE_SD_T58_C5A_S58-5A-7.md)
- [S.D. Codified Laws § 58-5A-8 Federal or state registration statements utilized in furnishing information](https://www.frixlaw.com/law-library/statutes/STATE_SD_T58_C5A_S58-5A-8.md)
- [S.D. Codified Laws § 58-5A-9 Approval by director of acquisition or merger--Grounds for disapproval](https://www.frixlaw.com/law-library/statutes/STATE_SD_T58_C5A_S58-5A-9.md)
- [S.D. Codified Laws § 58-5A-9.1 Disapproval of dividends or distributions for violation--Order of supervision](https://www.frixlaw.com/law-library/statutes/STATE_SD_T58_C5A_S58-5A-9.1.md)
- [S.D. Codified Laws § 58-5A-10 Time of hearing--Notice](https://www.frixlaw.com/law-library/statutes/STATE_SD_T58_C5A_S58-5A-10.md)
- [S.D. Codified Laws § 58-5A-10.1 Request for public hearing on consolidated basis](https://www.frixlaw.com/law-library/statutes/STATE_SD_T58_C5A_S58-5A-10.1.md)
- [S.D. Codified Laws § 58-5A-11 Procedure at hearing--Evidence admissible](https://www.frixlaw.com/law-library/statutes/STATE_SD_T58_C5A_S58-5A-11.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_SD_T58_C5A_S58-5A-3. Check the current official text before relying on it. Not legal advice.