Section 10-44-3 - Farm mutual insurers and fraternal benefit societies exempt from tax

10-44-3. Farm mutual insurers and fraternal benefit societies exempt from tax.Farm mutual insurers organized and operating under chapter 58-35 and fraternal benefit societies organized, licensed, or operating under chapter 58-37A are hereby declared to constitute a distinct and separate classification of insurance companies and shall be exempt from the tax imposed by this chapter. Source: SL 1951, ch 456, §3; SDC Supp 1960, §57.35A03; SL 2007, ch 55, §1.