If the director does not approve any such plan and agreement, he shall notify the insurer in writing, specifying his reasons therefor. Source: SL 1966, ch 111 , ch 16, § 38 (4).
Disapproval of merger or consolidation--Notice to insurer
SDCL § 58-5-133 — under ORGANIZATION AND GENERAL POWERS OF INSURERS.
SDCL § 58-5-133