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

HB 1119 modifies governance rules for farm mutual insurers in South Dakota by increasing the maximum number of board directors from 11 to 15 and clarifying eligibility requirements. The bill requires that directors must be members of the insurer or one of its affiliates (defined as entities controlling or controlled by the insurer). This directly affects the board composition of all South Dakota farm mutual insurers operating under these rules. The key change streamlines board size limits while ensuring directors have a direct connection to the insurer through membership or affiliation.