58-34-26. Authority of corporation to exchange insurance contracts.Any corporation now or hereafter organized under the laws of this state shall, in addition to the rights, powers, and franchises specified in its articles of incorporation have full power and authority to exchange insurance contracts of the kind and character mentioned in §58-34-25. The right to exchange such contracts is declared to be incidental to the purposes for which such corporations are organized and as much granted as the rights and powers expressly conferred. Source: SL 1966, ch 111, ch 19, §19 (2).
South Dakota Legal Code