The director may revoke or suspend the certificate of authority of an insurer which has declared or paid a dividend contrary to the general corporation laws of this state. Source: SL 1966, ch 111 , ch 16, § 33.
Illegal dividends--Revocation or suspension of certificate of authority
SDCL § 58-5-113 — under ORGANIZATION AND GENERAL POWERS OF INSURERS.
SDCL § 58-5-113