modify provisions regarding directors serving on a farm mutual insurer’s board.

Plain English Breakdown

Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.

modify provisions regarding directors serving on a farm mutual insurer’s board.

modify provisions regarding directors serving on a farm mutual insurer’s board.

What This Bill Does

• modify provisions regarding directors serving on a farm mutual insurer’s board.
• Official keyword topics: Insurance Official sponsor note: Representatives <a rel="noopener" href="https://sdlegislature.gov/Legislators/Profile/4830/Detail">Walburg</a> (prime), <a rel="noopener" href="https://sdlegislature.gov/Legislators/Profile/4749/Detail">Emery</a>, <a rel="noopener" href="https://sdlegislature.gov/Legislators/Profile/4753/Detail">Goodwin</a>, <a rel="noopener" href="https://sdlegislature.gov/Legislators/Profile/4778/Detail">Kull</a>, <a rel="noopener" href="https://sdlegislature.gov/Legislators/Profile/4810/Detail">Reisch</a>, and <a rel="noopener" href="https://sdlegislature.gov/Legislators/Profile/4824/Detail">Uhre-Balk</a> and Senators <a rel="noopener" href="https://sdlegislature.gov/Legislators/Profile/4741/Detail">Crabtree</a> (prime), <a rel="noopener" href="https://sdlegislature.gov/Legislators/Profile/4781/Detail">Larson</a>, and <a rel="noopener" href="https://sdlegislature.gov/Legislators/Profile/4807/Detail">Reed</a>

Limits and Unknowns

• This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.

Official Summary Text

modify provisions regarding directors serving on a farm mutual insurer’s board.
Official keyword topics:
Insurance
Official sponsor note: Representatives <a rel="noopener" href="https://sdlegislature.gov/Legislators/Profile/4830/Detail">Walburg</a> (prime), <a rel="noopener" href="https://sdlegislature.gov/Legislators/Profile/4749/Detail">Emery</a>, <a rel="noopener" href="https://sdlegislature.gov/Legislators/Profile/4753/Detail">Goodwin</a>, <a rel="noopener" href="https://sdlegislature.gov/Legislators/Profile/4778/Detail">Kull</a>, <a rel="noopener" href="https://sdlegislature.gov/Legislators/Profile/4810/Detail">Reisch</a>, and <a rel="noopener" href="https://sdlegislature.gov/Legislators/Profile/4824/Detail">Uhre-Balk</a> and Senators <a rel="noopener" href="https://sdlegislature.gov/Legislators/Profile/4741/Detail">Crabtree</a> (prime), <a rel="noopener" href="https://sdlegislature.gov/Legislators/Profile/4781/Detail">Larson</a>, and <a rel="noopener" href="https://sdlegislature.gov/Legislators/Profile/4807/Detail">Reed</a>

Current Bill Text

26.413.10 101st Legislative Session 1119

2026 South Dakota Legislature
House Bill 1119
ENROLLED

AN ACT

ENTITLED An Act to modify provisions regarding directors serving on a farm mutual
insurer’s board.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA:
Section 1. That § 58-35-8 be AMENDED:
58-35-8. The articles of incorporation required by § 58-35-7 must state:
(1) The name of the corporation, which must include the words "farm mutual" and, if
a county mutual insurer, the name of the county of its principal place of business;
(2) If a county mutual insurer, the name of the counties in which the corporation
intends to do business and the address of its principal business office;
(3) If a state mutual insurer, the location of its principal business office, which must
be located in this state;
(4) The purposes for which the corporation is formed;
(5) Whether the corporation will transact business on a cash premium plan or an
assessment plan;
(6) The duration of the corporation's existence, which may be perpetual;
(7) The number of the corporation's directors, which may not be less than five nor
more than fifteen, and the names and addresses of the persons constituting the
initial board of directors who shall serve until the first annual meeting of the
members, and until their successors are elected and qualified; and
(8) The names, residences, and addresses of the incorporators and the value of their
property desired to be insured.
Section 2. That § 58-35-26 be AMENDED:
58-35-26. No individual may serve as a director of a farm mutual insurer unless
the individual is a member of the insurer or a member of one or more of the insurer’s
affiliates.
26.413.10 2 1119
HB1119 ENROLLED
For the purposes of this section, “affiliate” means any entity that directly, or
indirectly through one or more intermediaries, controls, is controlled by, or is under
common control with, the insurer at issue.
26.413.10 3 1119
HB1119 ENROLLED
An Act to modify provisions regarding directors serving on a farm mutual insurer’s board.

I certify that the attached Act originated in
the:

House as Bill No. 1119

Chief Clerk of the House

Speaker of the House

Attest:

Chief Clerk of the House

President of the Senate

Attest:

Secretary of the Senate

House Bill No. 1119
File No. ____
Chapter No. ______

Received at this Executive Office
this _____ day of _____________,

2026 at ____________M.

By
for the Governor

The attached Act is hereby
approved this ________ day of
______________, A.D., 2026

Governor

STATE OF SOUTH DAKOTA,
ss.
Office of the Secretary of State

Filed ____________, 2026
at _________ o'clock __M.

Secretary of State

By
Asst. Secretary of State