Premiums and other funds belonging to the insurer that are collected by or held by an affiliate are the exclusive property of the insurer and are subject to the control of the insurer. Any right of offset in the event an insurer is placed into receivership is subject to chapter 58-29B.
S.D. Codified Laws § 58-5A-102
Premiums--Property of insurer
Source: SL 2024, ch 201, § 15.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.