SDCL § 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.