Chapter 29b. Insurers Supervision, Rehabilitation and Liquidation
Index
- SDCL 58-29B-1 Citation of Chapter
- SDCL 58-29B-2 Scope
- SDCL 58-29B-3 Definition of Terms
- SDCL 58-29B-4 Delinquency Proceedings Sole and Exclusive Remedy-Commencement of Proceedings By Director
- SDCL 58-29B-5 Commencement of Proceedings Despite Lack of Notice to Insurer
- SDCL 58-29B-6 Grounds For Personal Jurisdiction
- SDCL 58-29B-7 Venue of Proceedings
- SDCL 58-29B-8 Receiver Authorized to Grant Certain Orders
- SDCL 58-29B-9 Persons to Cooperate In Proceedings and Preliminary Investigations
- SDCL 58-29B-10 Obstruction Or Interference In Conduct of Proceedings
- SDCL 58-29B-11 Failure to Cooperate-Obstruction Or Interference-Penalty
- SDCL 58-29B-12 Directors and Deputies Responsible For Official Bonds-Source of Payment
- SDCL 58-29B-13 Proceedings Commenced Prior to Enactment of Chapter
- SDCL 58-29B-13.1 Service of Appropriate Orders By Director
- SDCL 58-29B-14 Director's Determination of Continuation of Business Hazardous-Notification of Insurer
- SDCL 58-29B-15 Supervision of Insurer-Appointment of Supervisor-Certain Acts By Insurer Prohibited-Costs
- SDCL 58-29B-16 Insurer to Comply With Director's Requirements-Time Period-Failure to Comply
- SDCL 58-29B-17 Hearings-Notice and Procedure
- SDCL 58-29B-18 Request For Hearing-Request Not to Stay Order
- SDCL 58-29B-19 Waiver of Hearing-Application For Judicial Relief-Judicial Review of Order After Hearing
- SDCL 58-29B-20 Requests For Review of Supervisor's Actions
- SDCL 58-29B-21 Violation of Supervision Order-Penalty
- SDCL 58-29B-22 Application For Necessary Orders to Enforce Supervision Order
- SDCL 58-29B-23 Violation of Valid Orders-Personal Liability For Losses Suffered By Insurer-Commencement of Action
- SDCL 58-29B-24 Authority to File Petition For Seizure Order-Grounds
- SDCL 58-29B-25 Ex Parte Issuance of Seizure Order-Costs
- SDCL 58-29B-26 Duration of Order-Hearing to Extend, Shorten Or Modify-Vacation of Order
- SDCL 58-29B-27 Entry of Order Not Anticipatory Breach of Insurer's Contracts
- SDCL 58-29B-28 Petition For Review of Order-Procedure
- SDCL 58-29B-29 Notice to Persons Not Present At Hearing-Effect On Previously Issued Order
- SDCL 58-29B-30 Records to Remain Confidential-Exceptions
- SDCL 58-29B-31 Application By Director For Rehabilitation of Insurer-Grounds
- SDCL 58-29B-32 Order of Rehabilitation-Contents-Effect of Filing Or Recording-Vesting of Title-Accounting Required
- SDCL 58-29B-32.1 Appointment of Deputies-Powers and Responsibilities-Employment of Counsel, Clerks and Assistants-Compensation-Advisory Committee
- SDCL 58-29B-32.2 Promulgation of Rules For Appointing Committees
- SDCL 58-29B-33 Authority of Rehabilitator to Reform and Revitalize Issuer
- SDCL 58-29B-34 Authority to Pursue Legal Remedies On Insurer's Behalf
- SDCL 58-29B-35 Rehabilitator's Plan For Transformation-Application and Grounds For Approval-Procedure Upon Approval
- SDCL 58-29B-36 Disposition of Actions In Which Insurer a Party Pending When Rehabilitation Order Entered
- SDCL 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
- SDCL 58-29B-38 Guaranty Associations-Standing to Appear In Rehabilitation Proceedings
- SDCL 58-29B-39 Rehabilitation Futile-Petition For Liquidation-Effect-Court to Permit Directors Or Insurers to Defend
- SDCL 58-29B-40 Termination of Rehabilitation-Procedure-Payment of Costs
- SDCL 58-29B-41 Petition For Liquidation-Grounds
- SDCL 58-29B-42 Order of Liquidation-Contents-Title Vested In Liquidator-Effect of Filing Or Recording
- SDCL 58-29B-42.1 Plan For Continued Performance of Policy Claim Obligations During Appeal of Liquidation Order
- SDCL 58-29B-43 Rights and Liabilities Fixed Upon Issuance of Order
- SDCL 58-29B-44 Order to Liquidate Alien Insurer Domiciled In State-Effect
- SDCL 58-29B-45 Declaration of Insurer's Insolvency-Procedure
- SDCL 58-29B-46 Order of Liquidation-Financial Reports Required-Annual Filing
- SDCL 58-29B-47 Effect of Order Upon Policies In Effect At Time of Issuance
- SDCL 58-29B-48 Order to Dissolve Corporate Existence-Procedure
- SDCL 58-29B-49 Powers of Liquidator
- SDCL 58-29B-50 Enumeration In Section 58-29b-49 Not Exclusive
- SDCL 58-29B-50.1 Obligations of Liquidator Subsequent to Entry of Liquidation Order
- SDCL 58-29B-51 Notice of Liquidation Order
- SDCL 58-29B-52 Duties of Claimant Upon Notice of Liquidation
- SDCL 58-29B-53 Duties of Insurance Producer Upon Notice of Liquidation
- SDCL 58-29B-54 Failure of Insurance Producer to Comply With Section 58-29b-53-Penalty-Liquidator's Waiver of Duties
- SDCL 58-29B-55 Appointment of Liquidator-Effect Upon Actions and Injunctions Pending Against Insurer Or Liquidator-Liquidator's Right to Intervene
- SDCL 58-29B-56 Time Periods In Which Liquidator May Act For Or Institute Action On Behalf of Insurer
- SDCL 58-29B-57 Petition For Liquidation-Suspension of Statute of Limitations, Laches-Time Period For Commencement of Actions Ripe When Petition Filed
- SDCL 58-29B-58 Guaranty Associations-Standing to Appear In Liquidation Proceedings
- SDCL 58-29B-59 Liquidator to Prepare List of Insurer's Assets-Filing Requirements
- SDCL 58-29B-60 Reduction of Assets to Appropriate Degree
- SDCL 58-29B-61 "Fraudulent Transfers" Defined-Avoidance By Receiver-Acceptance Or Preservation of Transfer
- SDCL 58-29B-61.1 Liability of Beneficiary of Fraudulent Transfer
- SDCL 58-29B-62 Fraudulent Transfers Between Insurer and Reinsurer-Grounds For Avoidance By Receiver
- SDCL 58-29B-63 Transfers of Insurer's Real Property After Petition Filed-Recording of Copy of Petition As Constructive Notice
- SDCL 58-29B-64 Validity of Transfers After Petitions Filed and Before Receiver Takes Possession Or Order Granted
- SDCL 58-29B-65 No Impairment of Negotiability
- SDCL 58-29B-66 "Preference" Defined
- SDCL 58-29B-67 Preference-Avoidance By Liquidator
- SDCL 58-29B-68 Preference Voidable-Consequences
- SDCL 58-29B-69 When Transfer of Property Other Than Real Property Deemed Made Or Suffered
- SDCL 58-29B-70 When Transfer of Real Property Deemed Made Or Suffered
- SDCL 58-29B-71 Transfer Creating Equitable Lien-Conditions Prohibiting Perfection
- SDCL 58-29B-72 Transfer Not Perfected Prior to Filing of Petition Deemed Made Before Filing of Successful Petition
- SDCL 58-29B-73 Sections 58-29b-69 to 58-29b-72 Applicable Despite Certain Creditors Or Potential Bona Fide Purchasers
- SDCL 58-29B-74 "Lien By Legal Or Equitable Proceedings Upon Simple Contract" Defined
- SDCL 58-29B-75 Lien By Legal Or Equitable Proceedings-Superiority to Rights of Transferee
- SDCL 58-29B-76 Transfer For Or On Account of New and Contemporaneous Consideration-Transfer to Secure Future Loan-Effects
- SDCL 58-29B-77 Voidable Lien Dissolved-Indemnifying Transfer Or Lien Deemed Voidable
- SDCL 58-29B-78 Property Affected By Voidable Lien Discharge-That and Indemnifying Property Pass to Liquidator-Exception
- SDCL 58-29B-79 Summary Jurisdiction of Hughes County Circuit Court-Notice-Valuation of Certain Property Or Liens-Election of Transferee Or Lienholder
- SDCL 58-29B-80 Extent of Surety Discharge Under Releasing Bond Or Similar Obligation
- SDCL 58-29B-81 Preferred Creditor-Setoff For New Credit Issued In Good Faith
- SDCL 58-29B-82 Transfers By Insurer to Attorney For Services Within Four Months of Filing Petition-Examination By Court
- SDCL 58-29B-83 Conditions Creating Personal Liability to Liquidator For Amount of Preference
- SDCL 58-29B-84 Claims of Creditor Who Has Received Or Acquired a Voidable Preference, Lien, Conveyance, Transfer, Assignment, Or Encumbrance
- SDCL 58-29B-85 Filing of Claims Under Section 58-29b-84
- SDCL 58-29B-86 Mutual Debts Or Credits Between Insurer and Another Set Off
- SDCL 58-29B-87 Setoff Or Counterclaim Not Allowed
- SDCL 58-29B-88 Liquidator's Report to Court-Time Limit-Content
- SDCL 58-29B-89 Court to Levy Assessments-Amount
- SDCL 58-29B-90 Issuance of Show Cause Order Upon Failure to Pay Assessment
- SDCL 58-29B-91 Notice of Show Cause Order
- SDCL 58-29B-92 Failure to Appear and Serve Objections On Or Before Return Day of Order-Procedure On Timely Appearance
- SDCL 58-29B-93 Enforcement of Order Or Judgment Under Section 58-29b-92
- SDCL 58-29B-94 No Reductions In Amounts Recoverable From Reinsurers-Exception-Payments
- SDCL 58-29B-94.1 Association Election to Succeed to Rights and Obligations of Insolvent Insurer Under Reinsurance Contract-Reinsurer's Liability to Pay Claims
- SDCL 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
- SDCL 58-29B-96 Course of Action Upon Violation of Section 58-29b-95-Director's Options
- SDCL 58-29B-97 Notice and Hearings Required Before Impositions of Penalties
- SDCL 58-29B-98 Application For Approval of Proposal to Disburse Assets
- SDCL 58-29B-99 Proposal to Disburse Assets-Contents
- SDCL 58-29B-100 Amounts For Disbursements to Associations
- SDCL 58-29B-101 Insolvent Insurer Writing Life Or Health Insurance Or Annuities-Liquidator to Include Disbursements to Guaranty In Proposal
- SDCL 58-29B-102 Notice of Application For Approval of Proposal
- SDCL 58-29B-103 Filing Proof of Claims-Exceptions
- SDCL 58-29B-104 Circumstances Under Which Claimant Making Late Filing May Share In Distributions
- SDCL 58-29B-105 Certain Late Filing Claims of Guaranty Association-Right to Share In Distributions
- SDCL 58-29B-106 Treatment of Late Claims Not Covered By Section 58-29b-104
- SDCL 58-29B-107 Proof of Claim-Contents
- SDCL 58-29B-108 Failure to Provide Necessary Information-Liquidator May Require Prescribed Forms and Additional Information
- SDCL 58-29B-109 Liquidator May Request Or Otherwise Obtain Additional Information Or Evidence
- SDCL 58-29B-110 Judgment Or Order Not Evidence of Liability Or Quantum of Damages
- SDCL 58-29B-111 Claims of Guaranty Associations-Form and Content
- SDCL 58-29B-112 Third Party's Claim Contingent On Judgment Against Insured-Consideration
- SDCL 58-29B-113 Contingent Claims Allowed
- SDCL 58-29B-114 Treatment of Claims Due Except For Passage of Time
- SDCL 58-29B-115 Claims Made Under Employment Contracts By Directors Or Similar Personnel-Limit On Payment
- SDCL 58-29B-116 Third Party Claim Against Insured of Insurer In Liquidation Filed With Liquidator-Insured's Filing-Late Filing
- SDCL 58-29B-117 Allowance of Insured's Claim-Liquidator's Recommendations to Court-Sums Withheld-Procedures Upon Allowance
- SDCL 58-29B-118 Several Claims Founded Upon One Policy-Disposition-Prohibited Claims
- SDCL 58-29B-119 Liquidator to Give Written Notice of Denial of Claim-Objections
- SDCL 58-29B-120 Hearing Upon Objections-Notice-Referee May Conduct
- SDCL 58-29B-121 Creditor's Claim Secured By "Other Person"-Subrogation-Right to Distribution
- SDCL 58-29B-122 Valuation of Security Held By Secured Creditor
- SDCL 58-29B-123 Valuation Made Under Supervision of Court-Treatment of Deficiency and Surrender of Security
- SDCL 58-29B-124 Priority and Order of Distribution of Claims From Insurer's Estate
- SDCL 58-29B-125 Review, Investigation and Negotiation of Claims By Liquidator-Exception-Report to Court
- SDCL 58-29B-126 Court Approval, Disapproval, Or Modification of Report
- SDCL 58-29B-127 Distributions By Liquidator Under Court Direction-Manner of Payment
- SDCL 58-29B-128 Disposition of Unclaimed Funds Subject to Distribution
- SDCL 58-29B-129 Disposition of Funds Not Distributed
- SDCL 58-29B-130 Application For Discharge
- SDCL 58-29B-131 Petition to Reopen Proceedings For Good Cause
- SDCL 58-29B-132 Recommendation and Direction For Retention Or Disposal of Insurer's Records
- SDCL 58-29B-133 Audits of Receivership Books
- SDCL 58-29B-134 Director's Application to Act As Conservator-Grounds
- SDCL 58-29B-135 Issuance of Order Allowing Director to Act As Conservator-Filing-Notice Imparted
- SDCL 58-29B-136 Petition to Liquidate Assets of Foreign Or Alien Insurer
- SDCL 58-29B-137 Termination of Conservation of Insurer
- SDCL 58-29B-138 Director's Application to Liquidate Assets of Foreign Or Alien Insurer-Grounds
- SDCL 58-29B-139 Notice of Orders Sought Under Section 58-29b-134 Or 58-29b-138
- SDCL 58-29B-140 Order to Liquidate In Whatever Terms Court Deems Appropriate-Filing-Notice Imparted
- SDCL 58-29B-141 Domiciliary Receiver, Conservator, Or Liquidator Appointed While Liquidation Proceeding-Duty to Act As Ancillary Receiver
- SDCL 58-29B-142 Director's Application to Act As Receiver-Grounds
- SDCL 58-29B-143 Payment of Resident's Claims Against Foreign Or Alien Insurer
- SDCL 58-29B-144 Domiciliary Receiver, Conservator, Or Liquidator of Insurer Domiciled In Reciprocal State-Title Vested-Date of Vesting
- SDCL 58-29B-145 Domiciliary Liquidator For Insurer Not Domiciled In Reciprocal State-Title Vested-Timing-Petition For Conservation Or Liquidation
- SDCL 58-29B-146 Resident Claimants-With Whom and When to File
- SDCL 58-29B-147 Domiciliary Receiver, Conservator, Or Liquidator Appointed For Alien Insurer-Appointment As Ancillary Receiver
- SDCL 58-29B-148 Court May Appoint Ancillary Receiver On Terms Deemed Appropriate-Filing-Notice Imparted
- SDCL 58-29B-149 Duties and Powers of Ancillary Receiver When Domiciliary Receiver, Conservator, Or Liquidator Appointed In Reciprocal State
- SDCL 58-29B-150 Duties and Powers of Ancillary Receivers, Conservators, Or Liquidators When Domiciliary Liquidator Appointed In This State
- SDCL 58-29B-151 Director May Institute Proceedings Under Sections 58-29b-13 to 58-29b-30
- SDCL 58-29B-152 Liquidation Proceeding Against Insurer Domiciled In State-Claimants Residing In Foreign Countries Or States Not Reciprocal-Filing
- SDCL 58-29B-153 Proof of Claims of Residents In Reciprocal States
- SDCL 58-29B-154 Proceeding In Reciprocal State Against Domiciled Insurer-Filing
- SDCL 58-29B-155 Proof of Claims of South Dakota Residents-Elections-Procedure
- SDCL 58-29B-156 Final Allowance By State Courts Conclusive As to Amount and Priority
- SDCL 58-29B-157 Attachment, Garnishment, Levy of Execution Prohibited During Receivership, Conservatorship, Or Liquidation Proceedings
- SDCL 58-29B-158 Domiciliary State's Order of Distribution Controls Claims of Residents of This and Reciprocal States
- SDCL 58-29B-159 Owners of Special Deposit Claims-Priority-Deficiencies In Deposit
- SDCL 58-29B-160 Owner of Secured Claim-Elections
- SDCL 58-29B-161 Ancillary Receiver's Failure to Transfer Certain Assets