Claims made under employment contracts by directors, principal officers, or persons in fact performing similar functions or having similar powers are limited to payment for services rendered prior to the issuance of any order of rehabilitation or liquidation under § 58-29B-32 or 58-29B-42.
S.D. Codified Laws § 58-29B-115
Claims made under employment contracts by directors or similar personnel--Limit on payment
Known as the Insurers Supervision, Rehabilitation, and Liquidation Act
The act spans §§ 58-29B-1 to 58-29B-99 (167 sections).
Source: SL 1989, ch 436, § 115.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.