If an ancillary receiver in another state or foreign country, whether called by that name or not, fails to transfer to the domiciliary liquidator in this state any assets within his control other than special deposits, diminished only by the expenses of the ancillary receivership, if any, the claims filed in the ancillary receivership, other than special deposit claims or secured claims, shall be placed in the class of claims under subdivision 58-29B-124(7).
S.D. Codified Laws § 58-29B-161
Ancillary receiver's failure to transfer certain assets
Known as the Insurers Supervision, Rehabilitation, and Liquidation Act
The act spans §§ 58–58 (167 sections).
Source: SL 1989, ch 436, § 161.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.