58-5-86. Domestic insurer--Management and exclusive agency contracts, disapproval by director, grounds.The director shall disapprove any such contract if he finds that it:(1)Subjects the insurer to excessive charges; or(2)Is to extend for an unreasonable length of time; or(3)Does not contain fair and adequate standards of performance; or(4)Contains any provision which the director deems detrimental to the best interests of stockholders or members of the insurer. Source: SL 1966, ch 111, ch 16, §23 (2).
South Dakota Legal Code