The determination made pursuant to § 58-29B-122 shall be under the supervision and control of the court with due regard for the recommendation of the liquidator. The amount so determined shall be credited upon the secured claim, and any deficiency shall be treated as an unsecured claim. If the claimant shall surrender his security to the liquidator, the entire claim shall be allowed as if unsecured.
S.D. Codified Laws § 58-29B-123
Valuation made under supervision of court--Treatment of deficiency and surrender of security
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, § 123.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.