No insurer shall guarantee any financial obligation of any of its officers, directors, stockholders, or members. Source: SL 1966, ch 111 , ch 16, § 22 (2).
Guarantee by insurer of any financial obligation of its officers, directors, stockholders, or members prohibited
SDCL § 58-5-62 — under ORGANIZATION AND GENERAL POWERS OF INSURERS.
SDCL § 58-5-62