South Dakota § 58-29B-24 Authority to file petition for seizure order--Grounds.

South Dakota Statutes

§ 58-29B-24 — Authority to file petition for seizure order--Grounds.

South Dakota § 58-29B-24

Title 58INSURANCE

Ch. 58-29AINSURERS SUPERVISION, REHABILITATION AND LIQUIDATION

This text of South Dakota § 58-29B-24 (Authority to file petition for seizure order--Grounds.) 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-24 (2026).

Text

For domestic insurers the director may file in the circuit court of Hughes County a petition for a seizure order:

(1)That there exist any grounds that would justify a court order for a formal delinquency proceeding against an insurer under this chapter;

(2)That the interest of policyholders, creditors, or the public will be endangered by delay; and (3) The contents of an order deemed necessary by the director.

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For domestic insurers the director may file in the circuit court of Hughes County a petition for a seizure order: (1) That there exist any grounds that would justify a court order for a formal delinquency proceeding against an insurer under this chapter; (2) That the interest of policyholders, creditors, or the public will be endangered by delay; and (3) The contents of an order deemed necessary by the director.