62-5-2. Obtaining workers' compensation insurance.
An employer may secure the payment of compensation to any employee by insuring and keeping insured the payment of the compensation with any stock corporation writing workers' compensation insurance or any mutual employer's liability association authorized to transact the business of workers' compensation insurance in this state or in an association authorized to exchange reciprocal or interinsurance contracts by individuals, partnerships, or corporations.
Source: SL 1931, ch 271, §1; SDC 1939, §64.0106 (1); SL 2008, ch 278, §35.