Any person receiving any property or benefit from the insurer which is a fraudulent transfer under § 58-29B-61 is personally liable and shall account to the liquidator concerning it.
S.D. Codified Laws § 58-29B-61.1
Liability of beneficiary of fraudulent transfer
Known as the Insurers Supervision, Rehabilitation, and Liquidation Act
The act spans §§ 58-29B-1 to 58-29B-99 (167 sections).
Source: SL 1992, ch 351, § 9.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.