58-5-66. Compensation of officers and employees of domestic insurer.No officer or employee of a domestic insurer shall be compensated unreasonably and the compensation of any director or officer of such insurer shall not be calculated, directly or indirectly, as a percentage of profits, premiums collected, or insurance written by the insurer without the approval of the director of the Division of Insurance. Source: SL 1966, ch 111, ch 16, §23 (3).
South Dakota Legal Code