ENTITLED, An Act to increase the administrative assessment fee for the guarantee fund.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA:
Section 1. That § 58-29A-76 be amended to read as follows:
58-29A-76. In addition to any other assessments authorized by this chapter, the association may
assess each member insurer an administrative assessment not to exceed five hundred dollars per
annum. The administrative assessment shall be made for the purpose of paying operating expenses
of the association and its employees not directly attributable to any particular insolvency or insolvent
insurer, and the administrative assessment may not be on a pro rata basis. The assessments are due
not less than thirty days after prior written notice to the member insurer and shall accrue interest at
ten percent per annum on and after the due date.
An Act to increase the administrative assessment fee for the guarantee fund.
I certify that the attached Act
originated in the
HOUSE as Bill No. 1069
Speaker of the House
President of the Senate
Secretary of the Senate
House Bill No. 1069
File No. ____
Chapter No. ______
Received at this Executive Office
this _____ day of _____________ ,
20____ at ____________ M.
for the Governor
The attached Act is hereby
approved this ________ day of
______________ , A.D., 20___
STATE OF SOUTH DAKOTA,
Office of the Secretary of State
Filed ____________ , 20___
at _________ o'clock __ M.
Secretary of State
Asst. Secretary of State