South Dakota § 58-29A-98 Settlements by association binding on successor of insolvent insurer--Priority of claim and expenses.

South Dakota Statutes

§ 58-29A-98 — Settlements by association binding on successor of insolvent insurer--Priority of claim and expenses.

South Dakota § 58-29A-98

Title 58INSURANCE

Ch. 58-29AINSURANCE GUARANTY ASSOCIATION

This text of South Dakota § 58-29A-98 (Settlements by association binding on successor of insolvent insurer--Priority of claim and expenses.) is published on Counsel Stack Legal Research, covering South Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.D. Codified Laws § 58-29A-98 (2026).

Text

The receiver, liquidator, or statutory successor of an insolvent insurer is bound by determinations of covered claim eligibility under this chapter and by settlements of claims made by the association or a similar organization in another state. The court having jurisdiction shall grant such claims priority equal to that which the claimant would have been entitled in the absence of this chapter against the assets of the insolvent insurer. The expenses of the association or similar organization in handling claims shall be accorded the same priority as the liquidator's expenses.

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The receiver, liquidator, or statutory successor of an insolvent insurer is bound by determinations of covered claim eligibility under this chapter and by settlements of claims made by the association or a similar organization in another state. The court having jurisdiction shall grant such claims priority equal to that which the claimant would have been entitled in the absence of this chapter against the assets of the insolvent insurer. The expenses of the association or similar organization in handling claims shall be accorded the same priority as the liquidator's expenses.