The director shall not approve the extinguishment of contingent liability pursuant to § 58-5-37 unless it applies to all members and all policies of insurance of such insurer. Source: SL 1966, ch 111 , ch 16, § 31 (2).
Extinguishment of contingent liability must apply to all members and policies
SDCL § 58-5-38 — under ORGANIZATION AND GENERAL POWERS OF INSURERS.
SDCL § 58-5-38