South Dakota § 58-29B-118 Several claims founded upon one policy--Disposition--Prohibited claims.

South Dakota Statutes

§ 58-29B-118 — Several claims founded upon one policy--Disposition--Prohibited claims.

South Dakota § 58-29B-118

Title 58INSURANCE

Ch. 58-29AINSURERS SUPERVISION, REHABILITATION AND LIQUIDATION

This text of South Dakota § 58-29B-118 (Several claims founded upon one policy--Disposition--Prohibited claims.) 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 § 58-29B-118 (2026).

Text

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.

Free access — add to your briefcase to read the full text and ask questions with AI

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.