If the deficiency is not cured as required by § 58-5-114, the insurer shall be deemed insolvent and the director shall institute delinquency proceedings as provided in this title.
S.D. Codified Laws § 58-5-119
Failure to cure deficiency, insurer deemed insolvent--Delinquency proceedings
Source: SL 1966, ch 111, ch 16, § 35 (3).
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.