58-20-39. Self-insurance association not an insurance company.Notwithstanding any other provision of law to the contrary, any association organized pursuant to §§58-20-25 to 58-20-40, inclusive, is not an insurance company or insurer under the laws of this state; any agreement forming an association does not constitute insurance or the conduct of an insurance business; and no association organized pursuant to §§58-20-25 to 58-20-40, inclusive, may be a member of the South Dakota Insurance Guaranty Association. Source: SL 1995, ch 282, §15.
South Dakota Legal Code