Chapter
INSURERS SUPERVISION, REHABILITATION AND LIQUIDATION
- S.D. Codified Laws § 58-29B-1— Citation of chapter
- S.D. Codified Laws § 58-29B-2— Scope
- S.D. Codified Laws § 58-29B-3— Definition of terms
- S.D. Codified Laws § 58-29B-4— Delinquency proceedings sole and exclusive remedy--Commencement of proceedings by director
- S.D. Codified Laws § 58-29B-5— Commencement of proceedings despite lack of notice to insurer
- S.D. Codified Laws § 58-29B-6— Grounds for personal jurisdiction
- S.D. Codified Laws § 58-29B-7— Venue of proceedings
- S.D. Codified Laws § 58-29B-8— Receiver authorized to grant certain orders
- S.D. Codified Laws § 58-29B-9— Persons to cooperate in proceedings and preliminary investigations
- S.D. Codified Laws § 58-29B-10— Obstruction or interference in conduct of proceedings
- S.D. Codified Laws § 58-29B-11— Failure to cooperate--Obstruction or interference--Penalty
- S.D. Codified Laws § 58-29B-12— Directors and deputies responsible for official bonds--Source of payment
- S.D. Codified Laws § 58-29B-13— Proceedings commenced prior to enactment of chapter
- S.D. Codified Laws § 58-29B-13.1— Service of appropriate orders by director
- S.D. Codified Laws § 58-29B-14— Director's determination of continuation of business hazardous--Notification of insurer
- S.D. Codified Laws § 58-29B-15— Supervision of insurer--Appointment of supervisor--Certain acts by insurer prohibited--Costs
- S.D. Codified Laws § 58-29B-16— Insurer to comply with director's requirements--Time period--Failure to comply
- S.D. Codified Laws § 58-29B-17— Hearings--Notice and procedure
- S.D. Codified Laws § 58-29B-18— Request for hearing--Request not to stay order
- S.D. Codified Laws § 58-29B-19— Waiver of hearing--Application for judicial relief--Judicial review of order after hearing
- S.D. Codified Laws § 58-29B-20— Requests for review of supervisor's actions
- S.D. Codified Laws § 58-29B-21— Violation of supervision order--Penalty
- S.D. Codified Laws § 58-29B-22— Application for necessary orders to enforce supervision order
- S.D. Codified Laws § 58-29B-23— Violation of valid orders--Personal liability for losses suffered by insurer--Commencement of action
- S.D. Codified Laws § 58-29B-24— Authority to file petition for seizure order--Grounds
- S.D. Codified Laws § 58-29B-25— Ex parte issuance of seizure order--Costs
- S.D. Codified Laws § 58-29B-26— Duration of order--Hearing to extend, shorten or modify--Vacation of order
- S.D. Codified Laws § 58-29B-27— Entry of order not anticipatory breach of insurer's contracts
- S.D. Codified Laws § 58-29B-28— Petition for review of order--Procedure
- S.D. Codified Laws § 58-29B-29— Notice to persons not present at hearing--Effect on previously issued order
- S.D. Codified Laws § 58-29B-30— Records to remain confidential--Exceptions
- S.D. Codified Laws § 58-29B-31— Application by director for rehabilitation of insurer--Grounds
- S.D. Codified Laws § 58-29B-32— Order of rehabilitation--Contents--Effect of filing or recording--Vesting of title--Accounting required
- S.D. Codified Laws § 58-29B-32.1— Appointment of deputies--Powers and responsibilities--Employment of counsel, clerks and assistants--Compensation--Advisory committee
- S.D. Codified Laws § 58-29B-32.2— Promulgation of rules for appointing committees
- S.D. Codified Laws § 58-29B-33— Authority of rehabilitator to reform and revitalize issuer
- S.D. Codified Laws § 58-29B-34— Authority to pursue legal remedies on insurer's behalf
- S.D. Codified Laws § 58-29B-35— Rehabilitator's plan for transformation--Application and grounds for approval--Procedure upon approval
- S.D. Codified Laws § 58-29B-36— Disposition of actions in which insurer a party pending when rehabilitation order entered
- S.D. Codified Laws § 58-29B-37— Petition for appointment of rehabilitator--Suspension of statute of limitations, laches--Time period for commencement of actions ripe when petition is filed
- S.D. Codified Laws § 58-29B-38— Guaranty associations--Standing to appear in rehabilitation proceedings
- S.D. Codified Laws § 58-29B-39— Rehabilitation futile--Petition for liquidation--Effect--Court to permit directors or insurers to defend
- S.D. Codified Laws § 58-29B-40— Termination of rehabilitation--Procedure--Payment of costs
- S.D. Codified Laws § 58-29B-41— Petition for liquidation--Grounds
- S.D. Codified Laws § 58-29B-42— Order of liquidation--Contents--Title vested in liquidator--Effect of filing or recording
- S.D. Codified Laws § 58-29B-42.1— Plan for continued performance of policy claim obligations during appeal of liquidation order
- S.D. Codified Laws § 58-29B-44— Order to liquidate alien insurer domiciled in state--Effect
- S.D. Codified Laws § 58-29B-45— Declaration of insurer's insolvency--Procedure
- S.D. Codified Laws § 58-29B-46— Order of liquidation--Financial reports required--Annual filing
- S.D. Codified Laws § 58-29B-47— Effect of order upon policies in effect at time of issuance
- S.D. Codified Laws § 58-29B-48— Order to dissolve corporate existence--Procedure
- S.D. Codified Laws § 58-29B-49— Powers of liquidator
- S.D. Codified Laws § 58-29B-50— Enumeration in § 58-29B-49 not exclusive
- S.D. Codified Laws § 58-29B-50.1— Obligations of liquidator subsequent to entry of liquidation order
- S.D. Codified Laws § 58-29B-51— Notice of liquidation--Methods
- S.D. Codified Laws § 58-29B-52— Duties of claimant upon notice of liquidation
- S.D. Codified Laws § 58-29B-53— Duties of insurance producer upon notice of liquidation
- S.D. Codified Laws § 58-29B-54— Failure of insurance producer to comply with § 58-29B-53--Penalty--Liquidator's waiver of duties
- S.D. Codified Laws § 58-29B-55— Appointment of liquidator--Effect upon actions and injunctions pending against insurer or liquidator--Liquidator's right to intervene
- S.D. Codified Laws § 58-29B-56— Time periods in which liquidator may act for or institute action on behalf of insurer
- S.D. Codified Laws § 58-29B-57— Petition for liquidation--Suspension of statute of limitations, laches--Time period for commencement of actions ripe when petition filed
- S.D. Codified Laws § 58-29B-58— Guaranty associations--Standing to appear in liquidation proceedings
- S.D. Codified Laws § 58-29B-59— Liquidator to prepare list of insurer's assets--Filing requirements
- S.D. Codified Laws § 58-29B-60— Reduction of assets to appropriate degree
- S.D. Codified Laws § 58-29B-61— "Fraudulent transfers" defined--Avoidance by receiver--Acceptance or preservation of transfer
- S.D. Codified Laws § 58-29B-61.1— Liability of beneficiary of fraudulent transfer
- S.D. Codified Laws § 58-29B-62— Fraudulent transfers between insurer and reinsurer--Grounds for avoidance by receiver
- S.D. Codified Laws § 58-29B-63— Transfers of insurer's real property after petition filed--Recording of copy of petition as constructive notice
- S.D. Codified Laws § 58-29B-64— Validity of transfers after petitions filed and before receiver takes possession or order granted
- S.D. Codified Laws § 58-29B-65— No impairment of negotiability
- S.D. Codified Laws § 58-29B-66— "Preference" defined
- S.D. Codified Laws § 58-29B-67— Preference--Avoidance by liquidator
- S.D. Codified Laws § 58-29B-68— Preference voidable--Consequences
- S.D. Codified Laws § 58-29B-69— When transfer of property other than real property deemed made or suffered
- S.D. Codified Laws § 58-29B-70— When transfer of real property deemed made or suffered
- S.D. Codified Laws § 58-29B-71— Transfer creating equitable lien--Conditions prohibiting perfection
- S.D. Codified Laws § 58-29B-72— Transfer not perfected prior to filing of petition deemed made before filing of successful petition
- S.D. Codified Laws § 58-29B-73— Sections 58-29B-69 to 58-29B-72 applicable despite certain creditors or potential bona fide purchasers
- S.D. Codified Laws § 58-29B-74— "Lien by legal or equitable proceedings upon simple contract" defined
- S.D. Codified Laws § 58-29B-75— Lien by legal or equitable proceedings--Superiority to rights of transferee
- S.D. Codified Laws § 58-29B-76— Transfer for or on account of new and contemporaneous consideration--Transfer to secure future loan--Effects
- S.D. Codified Laws § 58-29B-77— Voidable lien dissolved--Indemnifying transfer or lien deemed voidable
- S.D. Codified Laws § 58-29B-78— Property affected by voidable lien discharge--That and indemnifying property pass to liquidator--Exception
- S.D. Codified Laws § 58-29B-79— Summary jurisdiction of Hughes county circuit court--Notice--Valuation of certain property or liens--Election of transferee or lienholder
- S.D. Codified Laws § 58-29B-80— Extent of surety discharge under releasing bond or similar obligation
- S.D. Codified Laws § 58-29B-81— Preferred creditor--Setoff for new credit issued in good faith
- S.D. Codified Laws § 58-29B-82— Transfers by insurer to attorney for services within four months of filing petition--Examination by court
- S.D. Codified Laws § 58-29B-83— Conditions creating personal liability to liquidator for amount of preference
- S.D. Codified Laws § 58-29B-84— Claims of creditor who has received or acquired a voidable preference, lien, conveyance, transfer, assignment, or encumbrance
- S.D. Codified Laws § 58-29B-85— Filing of claims under § 58-29B-84
- S.D. Codified Laws § 58-29B-86— Mutual debts or credits between insurer and another set off
- S.D. Codified Laws § 58-29B-87— Setoff or counterclaim not allowed
- S.D. Codified Laws § 58-29B-88— Liquidator's report to court--Time limit--Content
- S.D. Codified Laws § 58-29B-89— Court to levy assessments--Amount
- S.D. Codified Laws § 58-29B-90— Issuance of show cause order upon failure to pay assessment
- S.D. Codified Laws § 58-29B-91— Notice of show cause order
- S.D. Codified Laws § 58-29B-92— Failure to appear and serve objections on or before return day of order--Procedure on timely appearance
- S.D. Codified Laws § 58-29B-93— Enforcement of order or judgment under § 58-29B-92
- S.D. Codified Laws § 58-29B-94— No reductions in amounts recoverable from reinsurers--Exception--Payments
- S.D. Codified Laws § 58-29B-94.1— Association election to succeed to rights and obligations of insolvent insurer under reinsurance contract--Reinsurer's liability to pay claims
- S.D. Codified Laws § 58-29B-95— No liability for unearned premiums or uncollected earned premiums before declaration of insolvency--Recovery of unearned premium representing commission--Credits or setoffs--Obligations of uninsured
- S.D. Codified Laws § 58-29B-96— Course of action upon violation of § 58-29B-95--Director's options
- S.D. Codified Laws § 58-29B-97— Notice and hearings required before impositions of penalties
- S.D. Codified Laws § 58-29B-98— Application for approval of proposal to disburse assets
- S.D. Codified Laws § 58-29B-99— Proposal to disburse assets--Contents
- S.D. Codified Laws § 58-29B-100— Amounts for disbursements to associations
- S.D. Codified Laws § 58-29B-101— Insolvent insurer writing life or health insurance or annuities--Liquidator to include disbursements to guaranty in proposal
- S.D. Codified Laws § 58-29B-102— Notice of application for approval of proposal
- S.D. Codified Laws § 58-29B-103— Filing proof of claims--Exceptions
- S.D. Codified Laws § 58-29B-104— Circumstances under which claimant making late filing may share in distributions
- S.D. Codified Laws § 58-29B-105— Certain late filing claims of guaranty association--Right to share in distributions
- S.D. Codified Laws § 58-29B-106— Treatment of late claims not covered by § 58-29B-104
- S.D. Codified Laws § 58-29B-107— Proof of claim--Contents
- S.D. Codified Laws § 58-29B-108— Failure to provide necessary information--Liquidator may require prescribed forms and additional information
- S.D. Codified Laws § 58-29B-109— Liquidator may request or otherwise obtain additional information or evidence
- S.D. Codified Laws § 58-29B-110— Judgment or order not evidence of liability or quantum of damages
- S.D. Codified Laws § 58-29B-111— Claims of guaranty associations--Form and content
- S.D. Codified Laws § 58-29B-112— Third party's claim contingent on judgment against insured--Consideration
- S.D. Codified Laws § 58-29B-113— Contingent claims allowed
- S.D. Codified Laws § 58-29B-114— Treatment of claims due except for passage of time
- S.D. Codified Laws § 58-29B-115— Claims made under employment contracts by directors or similar personnel--Limit on payment
- S.D. Codified Laws § 58-29B-116— Third party claim against insured of insurer in liquidation filed with liquidator--Insured's filing--Late filing
- S.D. Codified Laws § 58-29B-117— Allowance of insured's claim--Liquidator's recommendations to court--Sums withheld--Procedures upon allowance
- S.D. Codified Laws § 58-29B-118— Several claims founded upon one policy--Disposition--Prohibited claims
- S.D. Codified Laws § 58-29B-119— Liquidator to give written notice of denial of claim--Objections
- S.D. Codified Laws § 58-29B-120— Hearing upon objections--Notice--Referee may conduct
- S.D. Codified Laws § 58-29B-121— Creditor's claim secured by "other person"--Subrogation--Right to distribution
- S.D. Codified Laws § 58-29B-122— Valuation of security held by secured creditor
- S.D. Codified Laws § 58-29B-123— Valuation made under supervision of court--Treatment of deficiency and surrender of security
- S.D. Codified Laws § 58-29B-124— Priority and order of distribution of claims from insurer's estate
- S.D. Codified Laws § 58-29B-125— Review, investigation and negotiation of claims by liquidator--Exception--Report to court
- S.D. Codified Laws § 58-29B-126— Court approval, disapproval, or modification of report
- S.D. Codified Laws § 58-29B-127— Distributions by liquidator under court direction--Manner of payment
- S.D. Codified Laws § 58-29B-128— Disposition of unclaimed funds subject to distribution
- S.D. Codified Laws § 58-29B-129— Disposition of funds not distributed
- S.D. Codified Laws § 58-29B-130— Application for discharge
- S.D. Codified Laws § 58-29B-131— Petition to reopen proceedings for good cause
- S.D. Codified Laws § 58-29B-132— Recommendation and direction for retention or disposal of insurer's records
- S.D. Codified Laws § 58-29B-133— Audits of receivership books
- S.D. Codified Laws § 58-29B-134— Director's application to act as conservator--Grounds
- S.D. Codified Laws § 58-29B-135— Issuance of order allowing director to act as conservator--Filing--Notice imparted
- S.D. Codified Laws § 58-29B-136— Petition to liquidate assets of foreign or alien insurer
- S.D. Codified Laws § 58-29B-137— Termination of conservation of insurer
- S.D. Codified Laws § 58-29B-138— Director's application to liquidate assets of foreign or alien insurer--Grounds
- S.D. Codified Laws § 58-29B-139— Notice of orders sought under § 58-29B-134 or 58-29B-138
- S.D. Codified Laws § 58-29B-140— Order to liquidate in whatever terms court deems appropriate--Filing--Notice imparted
- S.D. Codified Laws § 58-29B-141— Domiciliary receiver, conservator, or liquidator appointed while liquidation proceeding--Duty to act as ancillary receiver
- S.D. Codified Laws § 58-29B-142— Director's application to act as receiver--Grounds
- S.D. Codified Laws § 58-29B-143— Payment of resident's claims against foreign or alien insurer
- S.D. Codified Laws § 58-29B-144— Domiciliary receiver, conservator, or liquidator of insurer domiciled in reciprocal state--Title vested--Date of vesting
- S.D. Codified Laws § 58-29B-145— Domiciliary liquidator for insurer not domiciled in reciprocal state--Title vested--Timing--Petition for conservation or liquidation
- S.D. Codified Laws § 58-29B-146— Resident claimants--With whom and when to file
- S.D. Codified Laws § 58-29B-147— Domiciliary receiver, conservator, or liquidator appointed for alien insurer--Appointment as ancillary receiver
- S.D. Codified Laws § 58-29B-148— Court may appoint ancillary receiver on terms deemed appropriate--Filing--Notice imparted
- S.D. Codified Laws § 58-29B-149— Duties and powers of ancillary receiver when domiciliary receiver, conservator, or liquidator appointed in reciprocal state
- S.D. Codified Laws § 58-29B-150— Duties and powers of ancillary receivers, conservators, or liquidators when domiciliary liquidator appointed in this state
- S.D. Codified Laws § 58-29B-151— Director may institute proceedings under §§ 58-29B-13 to 58-29B-30
- S.D. Codified Laws § 58-29B-152— Liquidation proceeding against insurer domiciled in state--Claimants residing in foreign countries or states not reciprocal--Filing
- S.D. Codified Laws § 58-29B-153— Proof of claims of residents in reciprocal states
- S.D. Codified Laws § 58-29B-154— Proceeding in reciprocal state against domiciled insurer--Filing
- S.D. Codified Laws § 58-29B-155— Proof of claims of South Dakota residents--Elections--Procedure
- S.D. Codified Laws § 58-29B-156— Final allowance by state courts conclusive as to amount and priority
- S.D. Codified Laws § 58-29B-157— Attachment, garnishment, levy of execution prohibited during receivership, conservatorship, or liquidation proceedings
- S.D. Codified Laws § 58-29B-158— Domiciliary state's order of distribution controls claims of residents of this and reciprocal states
- S.D. Codified Laws § 58-29B-159— Owners of special deposit claims--Priority--Deficiencies in deposit
- S.D. Codified Laws § 58-29B-160— Owner of secured claim--Elections
- S.D. Codified Laws § 58-29B-161— Ancillary receiver's failure to transfer certain assets