The director may without advance notice or a hearing thereon, immediately suspend the certificate of authority of any insurer as to which proceedings for receivership, conservatorship, rehabilitation, or other delinquency proceedings, have been commenced in any state by the public insurance supervisory official of such state.
S.D. Codified Laws § 58-6-48
Suspension of certificate on commencement of delinquency proceedings
Source: SL 1966, ch 111, ch 3, § 19 (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.