South Dakota Statutes
§ 58-29B-118 — Several claims founded upon one policy--Disposition--Prohibited claims.
If several claims founded upon one policy are filed, whether by third parties or as claims by the insured under § 58-29B-116 or 58-29B-128 , and the aggregate allowed amount of the claims to which the same limit of liability in the policy is applicable exceeds that limit, each claim as allowed shall be reduced in the same proportion so that the total equals the policy limit. Claims by the insured shall be evaluated as in § 58-29B-117 . If any insured's claim is subsequently reduced under § 58-29B-117 , the amount thus freed shall be apportioned ratably among the claims which have been reduced under this section. No claim may be presented under § 58-29B-116 or this section, if it is or may be covered by any guaranty association or foreign guaranty association.
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South Dakota § 58-29B-118 (Several claims founded upon one policy--Disposition--Prohibited claims.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
SL 1989, ch 436, § 118.
Nearby Sections
15
§ 58-1-1
Citation of title.§ 58-1-11
General saving clause.§ 58-1-13
Severability of provisions.§ 58-1-14
Notice of nonrenewal of policy must be mailed sixty days prior to renewal date--Exceptions.§ 58-1-14.1
Notice of refusal to renew--Thirty§ 58-1-16.1
Applicability of §§ 58-1-18
Repealed by SL 2012, ch 252, § 30.§ 58-1-2
Definition of terms.